The proposal to develop an industrial harbour in Trincomalee is a long-standing plan to monetise land that belongs to the Sri Lanka Port Authority, by getting foreign and local investment for a special economic zone, an industrial park, or an energy hub. Indian Express – Sri Lanka’s announcement that it plans to develop Trincomalee as…
PVH, parent of Tommy Hilfiger, is Teejay Lanka’s top customer Company benefits as production shifts from China due to Covid Bloomberg – Knit fabric manufacturer Teejay Lanka Plc, whose customers include Nike and Uniqlo, is seeing demand pick up as production shifts from China because of Covid lock downs in that country. The company, which…
Sri Lanka in talks for its 17th programme with the IMF EFF programme has been discussed with the IMF staff Reuters – Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billion via the lender’s extended fund facility (EFF), sources familiar with the matter told Reuters. The island…
The Ceylon Association of Shipping Agents (CASA) today donated 100 bicycles to the Sri Lanka Ports Authority (SLPA) for the use of port users to achieve the goal of turning the Port of Colombo into a green port. Ms. Shehara de Silva, Chairperson of the CASA, presented the 100 bicycles to the Chairman of the…
The Ceylon Electricity Board (CEB) has been summoned before the Committee on Public Enterprises (COPE) on the 9th of June. The Auditor General’s report for the years 2018 and 2019 and the current performance of the Ceylon Electricity Board will be examined here. In addition, The Urban Development Authority (UDA) has been summoned before the…
The destitution of promise and under the yoke of the madness of multiple national crises To say that what the people are enduring is akin to ‘adding insult to injury’ would be the mildest description possible in our gloomy isle. As queues snake down streets and by lanes, and around corners, some essential items have…
The Japan Deputy Head of Mission Katsuki Kotaro met with the Minister of Foreign Affairs Prof. G.L. Peiris on 27 May, 2022 to discuss matters pertaining to bilateral engagements, domestic developments and assistance from the international community in overcoming the current economic challenges encountered by Sri Lanka. Whilst appreciating the generous assistance and support extended…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) increased to 39.1% in May 2022 from 29.8% in April 2022. This increase in Y-o-Y inflation was driven by the monthly increases of both Food and Non-Food categories. Subsequently, Food inflation (Y-o-Y) increased to 57.4% in May 2022…
Sri Lanka introduced a low tax regime in late 2019. The reforms included the reduction of tax rates of Value Added Tax (VAT), Personal Income Tax (PIT) and Corporate Income Tax (CIT), and narrowing tax bases of VAT and PIT, while introducing a plethora of tax incentives, such as tax exemptions for agriculture and Information…
Oil prices rose after EU agreed to slash oil imports from Russia by the end of 2022, fuelling worries of a tighter market already strained for supply amid rising demand Business Standard – Oil prices rose on Tuesday (31) after EU agreed to slash oil imports from Russia by the end of 2022, fuelling worries of…
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