Sri Lanka Export Development Board (SLEDB) in collaboration with the Embassy of Sri Lanka in Paris successfully organized Sri Lanka participation at the SIAL Paris – 2022 exhibition held from 15th to 19th October 2022 in Parc Des Expositions- Paris Nord Villepinte in Paris. SIAL Paris is one of the biggest food and beverage exhibitions…
62% YoY growth in Operating Income PBT of LKR 9.3 Bn at a YoY growth of 25% PAT of LKR5.2 Bn at a YoY growth of 6% Strong Capital Adequacy with Tier I CAR of 12.59% and Total CAR of 14.85% Nations Trust Bank PLC reported a strong 3rd quarter with YTD Operating Income of…
Reuters – The crisis-hit Sri Lankan economy can turn around by the end of 2023 if budget policies, which are not limited to the International Monetary Fund’s recommendations, are followed, President Ranil Wickremesinghe said on Monday. IMF recommendations have only been looked at to stabilise the economy, Wickremesinghe, who is also the country’s finance minister,…
A new Value-Added Tax (VAT) Act will be introduced consolidating the amendments introduced from the year 2002 to the year 2022, President Ranil Wickremesinghe said today. Presenting the budget proposals for the fiscal year 2023, the Head of State said exemptions specified in the First Schedule to the VAT Act will be rationalized with effect…
President Ranil Wickremesinghe today (14) announced several proposals to promote the use of electric cars locally as well as assembling them and to promote the production of electricity using renewable energy and to encourage the local production of related solar panels. Delivering the 2023 budget speech in parliament today, he proposed to remove the Port…
While selling assets may be the easiest solution to ward off the national crisis Sri Lanka currently faces, another option lies in transforming loss-making SOEs (State Owned Enterprise) whose rich assets can be turned around to profitability driven and managed by clean, experienced corporate executives, said the SLT Group Chairman Rohan Fernando. He made…
SL is in an economic crisis due to the mismanaged welfare system. With no focus on state income generation and trade promotion, Sri Lankans opted for free meals, tax cuts and subsidies. It’s simply the public immaturity to understand the theory of how tax money comes back to the people. As technology is easily accessible,…
Records Commendable financial results for Q2 results which resulted in a turnaround performance for the first half of the financial year Aggressive pricing strategies which contributed towards improving the product margins together with the cost optimization initiatives which were adopted across all segments is said to have enabled the Group to achieve this feat Lankem…
The Sri Lanka Retailers’ Association (SLRA), the apex body of organised retail in Sri Lanka, has raised growing concern about current standing of the local retail sector. If the retail sector collapses completely, it will greatly affect its larger eco system that depends on retail, penetrating deep into the length and breadth of the country….
President Ranil Wickremesinghe in his capacity as the Minister of Finance will present the 2023 budget to Parliament today (14) aimed at creating long-term, stable economic growth. The 2023 budget has given special attention to the sectors of capital market, export market, labour market and digital economy and it is expected to achieve the budget targets…
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