The Monetary Board of the Central Bank of Sri Lanka issued Rules making it mandatory for hotel service providers to accept payments from persons resident outside Sri Lanka, only in foreign exchange. These Rules are published in the Gazette Extraordinary No. 2263/41 dated 21 January 2022. With the issuance of the Rules, hotel service providers…
The Women Technopreneurs (WTech) Forum of the Sri Lanka Association for Software Services Companies (SLASSCOM) and the International Finance Corporation (IFC) – with support from the government of Japan, recently launched a report on the landscape for women technopreneurs in Sri Lanka. The study, based on a survey to understand the landscape for women pursuing…
A Memorandum of Understanding signed recently between the Ceylon Chamber of Commerce and the Maldives National Chamber of Commerce and Industry (MNCCI) will enhance opportunities for bilateral trade, investment and tourism, giving new impetus to a proposed trade agreement between Sri Lanka and the Maldives, State Minister for Regional Cooperation Tharaka Balasuriya announced. Speaking at…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1, increased to 14.0 per cent in December 2021 from 11.1 per cent in November 2021. Meanwhile, on an annual average basis, the NCPI increased to 7.0 per cent in December 2021 from 6.2 per cent in November 2021….
Port City Colombo wishes to inform the public that there is no truth in social media posts alleging that the public needs to pay a fee for personal selfies or videos taken at Port City. However, a payment structure was introduced for personal events, professional and/or commercial filming and photography due to the unprecedented number…
Sets new benchmark in good corporate governance in the CSE Hunas Holdings PLC, previously known as Hunas Falls Hotels PLC, has officially become Sri Lanka’s newest listed diversified conglomerate. This follows Serenity Lake Leisure (Pvt) Ltd., a fully-owned subsidiary of the TAD Group of Companies, infusing the then Hunas Falls Hotels with Rs. 4.25 billion…
Bitcoin fell by more than 7% in the last 24 hours, and ether dived more than 8%, according to CoinDesk. About $147 billion were wiped off the entire cryptocurrency market in the past 24 hours, according to data from Coinmarketcap.com It came after Wall Street’s losses on Thursday, with the Nasdaq down almost 5% this week,…
The Colombo Stock Exchange (CSE) is revising the index calculation methodology of the All Share Price Index (ASPI) from full market capitalization-weighting to public float-adjusted Market Capitalization The Index methodology has been published on the CSE web site. The Implementation of the said revision is scheduled to take place on 24th January 2022 (with effect…
Joint Technical study to be conducted from 19th to 25th January 2022 The Information and Communication Technology Agency (ICTA) of Sri Lanka announced that the World Bank Group and ICTA will kick-off a joint technical study. The findings of this joint technical and advisory study are expected to assist Sri Lanka’s government in prioritizing the…
Dr Roshan Perera & Naqiya Shiraz Background The new bill titled ‘Special Goods and Services Tax’ was published by gazette dated 07 January 2022.[1] The Special Goods and Services Tax (SGST) was originally proposed in Budget speech 2021 but was not implemented. It has once again been presented in Budget 2022. The SGST aims…
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