The Government has instructed a repay of Withholding Tax (WHT) and Pay As You Earn Tax (PAYE ) deducted from January 01, 2020, to the respective persons (employees, deposit holders or any other persons). This was announced by the Inland Revenue Department (IRD) yesterday(5). Full notice as follows; As instructed by the Ministry of Finance on January 31,…
The Colombo Stock Exchange (CSE) yesterday (5) instructed all listed companies to immediately notify them, in writing, regarding any changes to the composition of remuneration and audit committees with effect from 01 march 2020. In terms of the CSE listing rules, listed companies are which are non- compliant with the corporate governance rules, specifically on…
Post – election economic positivity erodes as corporates adopt a wait and see mindset The economy according to the latest LMD- Nielsen Business confidence index (BCI ) survey, the share of respondents who say the economy will improve in the coming 12-months has fallen to 62% in January from 74% in the previous month. Commenting…
SINGAPORE (THE BUSINESS TIMES) – Singapore-listed theme park developer and operator Sim Leisure Group on Tuesday announced it will bring its theme parks to Sri Lanka, under a memorandum of understanding (MOU) signed with Sri Lanka-listed Elpitiya Plantations. Elpitiya is an associate company of Sri Lanka-listed bluechip conglomerate Aitken Spence. Under the MOU, Elpitiya intends…
ICRA Lanka Limited, subsidiary of ICRA Limited, a group company of Moody’s Investors Service urges CBSL and Sri Lankan companies, including some of the biggest SOEs to get ready for the London Interbank Offered Rate (LIBOR) transition which is scheduled for 2021. “Central Bank of Sri Lanka (CBSL), Sri Lankan commercial banks and companies, including some…
The Lighthouse Hotel PLC, a franchise hotel belonging to Jetwing Hotels, has decided to make an equity investment of Rs. 50,000,000/ on its fully owned subsidiary, Unawatuna Properties (Private) Limited or Hotel J Unawatuna. In a stock exchange filling, the company noted that the board of directors of The Lighthouse Hotel PLC has decided to…
The Colombo Stock Exchange (CSE) has organized a forum to discuss changes to the tax system which were recently announced by the Government. The forum, will be conducted by senior representatives of the Inland Revenue Department and PWC Sri Lanka, and will take place on 18 February 2020 from 08.30 a.m. to 01.00 p.m. at…
Connaissance de Ceylan and Theme Resorts & Spas in collaboration with LYLIS Holistic Travels in Europe, bring the Aristocracy from the heart of England, Her Grace the Duchess of Rutland Emma Manners, with her life partner Mr. Phil Burt to the heart of Sri Lanka. Her Grace the duchess attended a welcome cocktail at Galle…
SriLankan Airlines is rationalizing its services to China in accordance with current market conditions as per its long-held commercial policies, with a temporary reduction of frequencies to several cities. This is to better reflect present passenger demand in the wake of a significant reduction in the number of Chinese travelers venturing overseas following the outbreak…
With effect from 1st February 2020, Hajar Alafifi assumed duties as Chairperson of Unilever Sri Lanka and joins the Unilever South Asia Leadership Team. Taking the helm from her predecessor, Carl Cruz who has been appointed as Managing Director, Unilever West Africa Multi Country Operation (MCO) – Ghana and Nigeria. Hajar Alafifi arrived in Sri…
