The Delegation of the European Union (EU) has raised concerns over the import restrictions imposed by the Government of Sri Lanka. Issuing a statement together with the Embassies of France, Germany, Italy, Netherlands and Romania, the EU stated that; the current import restrictions are having a negative impact on Sri Lankan and European businesses, and on Foreign…
The Ceylon Chamber of Commerce welcomes the proposals put forward by the Honorable Prime Minister in the National Budget 2021 which are business friendly, production oriented and demonstrative of policy continuity. The Budget has focused on boosting economic growth by enhancing exports, providing investment relief for key thrust sectors supplemented by public investment proposals, promoting…
Tea auctions this week saw fair general demand at slightly easier rates and a total of 5.5 M/Kgs were on offer, Forbes and Walker said in its latest report. “Ex-Estate offerings totalled 0.65 M/Kgs, marginally lower to the 0.73 M/Kgs on offer in the previous week. BOP’s met with good demand, whilst the BOPF’s in the…
The Colombo Stock Exchange (CSE) welcomes the progressive capital market related proposals presented to Parliament by Prime Minister Mahinda Rajapaksa in the 2021 Budget Proposals speech made on 17th November 2020. Long-term sustainable measures have been proposed by the Sri Lankan Government to encourage companies to list on the CSE, encourage savings and investments among…
The Chairman of the Securities and Exchange Commission of Sri Lanka (SEC), Viraj Dayaratne P.C. commended the Budget Proposals presented to Parliament on 17th November 2020, by the Hon. Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance. The Proposals include several measures to develop the capital market of Sri Lanka. As…
The 2021 Budget unveiled yesterday (17) by the Government had several supportive measures to stabilize the financial system of the country. Presenting the budget for 2021, Prime Minister Mahinda Rajapaksa emphasized the need for merging finance companies in a way that strengthens the companies currently functioning commercially in the sector. Further, Prime Minister Rajapaksa proposed…
The Cabinet approval has been given to implement the Unitary Digital Identify Framework and the ‘e – national identity card’ project. “The Government was following a unitary digital identity framework and a strategy that facilitates realizing the objective of “A Skillful Nation” which is one of the ten fundamental objectives of the national policy framework of ‘Vistas…
The Cabinet of Ministers has granted approval for the Tea Research institute of Sri Lanka and the Council of Scientific and Industrial Research–Institute of Himalayan Bioresource Technology (CSIR–IHBT) in India to enter into a Memorandum of Understanding (MoU). The resolution was tabled by the Minister of Plantation Industries. The Tea Research Institute of Sri Lanka has…
The Planters’ Association of Ceylon (PA) announced that it would be championing radically progressive wage reforms towards securing a sustainable outcome for both plantation workers, and the industry as a whole. Emphasizing the need to urgently transition away from the existing, colonial-era daily wage system – which had become mired in political controversies and totally…
The leading blue-chip conglomerate, Aitken Spence PLC non-tourism sectors reported a Profit-Before-Tax (PBT) of Rs 1.13 Bn in 2Q, a growth of 33% compared to the previous year in the midst of challenging economic conditions. These sectors also reported an EBITDA (Earnings Before Interest Expense, Tax, Depreciation and Amortisation) of Rs 1.59 Bn prior to…
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