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Vote of the Budget today at 5 pm

The vote on the second reading of the Budget proposal for fiscal year 2018 is scheduled to be taken up at 5 pm today (16th Nov.) in Parliament. Mass Media and Finance Minister Mangala Samaraweera presented the Budget proposals for the financial year 2018 last Thursday (9th Nov.). The proposals were debated for six days…

(0)Comments | November 16, 2017 10:16 am

Sri Lankan stocks hit 7-week closing low; John Keells drags

Reuters – Sri Lankan shares fell for a fifth straight session on Wednesday, posting their lowest close in seven weeks, pulled down by market heavyweight John Keells Holdings amid continued worries over 2018 budget policies. The budget imposed taxes on cash-rich telecom and banking sectors to boost revenue. The Colombo stock index ended 0.45 percent…

(0)Comments | November 16, 2017 10:15 am

Poultry producers welcome maize import liberalization; increased production, revenues, exports anticipated

The recent budget proposal to allow feed millers to import maize under a special limited quota to meet the shortfall in the local supply was hailed by poultry producers as a strongly positive measure that will support greater efficiency within the domestic industry, ultimately enabling stronger international competitiveness for Sri Lankan poultry producers in the…

(0)Comments | November 15, 2017 3:52 pm

EU GSP delivers a big plus for Lankan apparels

EU GSP Plus has delivered its most prominent success for Sri Lankan exports to-date since its announcement. “As a result of Prime Minister Ranil Wickremesinghe’s efforts on GSP Plus, our apparel exports from January to September this year has increased by 11.3% to US $ 1.67 Billion” said the Minister of Industry and Commerce of…

(0)Comments | November 15, 2017 3:24 pm

SLLRDC Officials go on​ board​ Port City dredger

A group of officials representing Sri Lanka Land Reclamation and Development Corporation​ (SLLRDC)​ made an observational tour ​on board the Jun Yang 1, Asia’s largest trailing suction hopper dredger which is ​i​n operation for Port City Colombo reclamation​, ​last week​. ​ ​The ​Team was headed by C.B. Amarasinghe, Deputy General Manager together with several other…

(0)Comments | November 15, 2017 1:26 pm

Property Demand: Galle vs. Colombo

There is little argument that both Colombo and the city of Galle are two of the most developed urban regions in Sri Lanka. What’s significantly common about these two regions is that they are not just economically developed, but they are also highly celebrated travel destinations that offers so much for locals as well as…

(0)Comments | November 15, 2017 1:25 pm

No rate volatility next year as govt. better prepared – CB

Market interest rates are unlikely to experience volatility through public debt-servicing requirements, as the Central Bank and the Sri Lankan government are better prepared to mange domestic and foreign debt next year with the planned implementation of the Liability Management Act and the buffers being built up by the state. “The liability management exercise, the…

(0)Comments | November 15, 2017 12:30 pm

ICTA Hosts ‘e-Swabhimani’ Awards Celebrating Outstanding Digital Innovators Impacting Society

The ICT Agency of Sri Lanka (ICTA), the apex ICT Institution together with the Ministry of Telecommunications and Digital Infrastructure, announces the launch of the ‘e-Swabhimani Awards 2017’, the nation’s premier digital social impact awards honouring outstanding digital innovators who have impacted society using digital technologies. The Awards Ceremony will be held on 30th November…

(0)Comments | November 15, 2017 11:47 am

Fitch: Sri Lankan Beer Makers to Regain Market Share with Tax Changes

Sri Lanka’s beer industry will regain market share from hard liquor following a more favourable tax regime for the segment announced in the Sri Lankan government’s budget on 9 November, Fitch Ratings says. However we expect the ratings on Distilleries Company of Sri Lanka PLC (DIST, AAA(lka)/Rating Watch Negative), the largest hard liquor manufacturer, and…

(0)Comments | November 15, 2017 11:12 am

Sri Lankan stocks falls for 4th straight session

Reuters – Sri Lankan shares fell for a fourth straight session on Tuesday, posting their lowest close in more than six weeks, on continued worries over 2018 budget policies which imposed taxes on cash-rich telecom and banking sectors to boost revenue. The Colombo stock index ended 0.82 percent weaker at 6,457.90, its lowest close since…

(0)Comments | November 15, 2017 10:49 am