Sri Lanka’s condominium industry has not only held up the real-estate sector but shored up the country’s economy as well amid a double crisis. A recent Cabinet decision (May 30) to abolish the concessional property exemption from the value added tax levied on condominium property could spell disaster for the industry and the economy as…
India has rushed about USD 3 billion in assistance in the form of line credit and other modes to help Sri Lanka which has virtually declared insolvency and defaulted on all foreign loans. Indian Express – China on Wednesday praised India for making “great efforts” to help Colombo to tide over its worst financial crisis…
The Ministry of Finance would like to share the current progress of the Indian Credit Line Facility of USD 1 billion obtained from India for the importation of essential goods. Sectoral Breakdown of Credit Facility Several subcategories, including Rice, large onions, dried chilies, sugar, wheat, etc., were included under the essential commodities category. As of…
After a year of research of the fashion, handloom and batik sectors in Sri Lanka, the Cultural Relations Platform announces a pilot training, as a form of “master class/experience” of European and Sri Lankan creatives coming together to master their craft and creativity. The pilot training stems from the conclusions of the research that highlight…
Forex pile at $1.92 billion in May vs $1.81 billion in April Government tapping credit lines to import food, fuel, medicine (Bloomberg) -Sri Lanka’s foreign exchange pile rose for the first time in five months, likely due to deferment of payments to India under an Asian Clearing Union, even as the nation scrambles for credit…
Eco-Tourism Awareness Programme for Tour Guides and Tour Operators in Dambulla As one of the World’s 36 biodiversity hotspots, Sri Lanka has the highest biodiversity per unit area of land among all Asian countries. Protecting our unique and diverse ecosystems is vital in the fight against accelerating climate change and as an indicator of the…
Bloomberg – A clause on some of Sri Lanka’s older dollar bonds gives creditors a potential opening to hold the sovereign hostage and stall restructuring negotiations. That’s a warning from Lee Buchheit, a veteran of over two dozen debt restructurings who has also been consulted by the Sri Lankan government. He reminds some of the…
The shares of Alpha Fire Services Limited (CODE: AFS-N-0000) listed on the Colombo Stock Exchange (CSE) on the 7th of June 2022. The shares have been listed on the Empower Board of the CSE under the “2010 – Capital Goods” sector. The occasion was marked with a special Bell Ringing Ceremony. Representing Alpha Fire Services Limited, Chairman/Managing Director Mr. Vijith Perera, Executive Non-Independent Director Mr. Samud Gunasekara,…
It has been decided to publish only soft copies of the previously printed documents including annual reports submitted to the Parliament Steps to send the relevant reports to the Members of Parliament by e-mail Soft copies are to be uploaded to a specific web portal on the Parliament website Considering the need for several hard…
Sri Lanka’s IT sector is trying to retain talent with dollar-linked salaries as young professionals look to exodus. AL JAZEERA – There have been days when cybersecurity professional Asela Waidyalankara and his colleagues have sat in hotel lobbies to complete projects during power outages. Other days, they have run around Colombo looking for fuel for…
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