The Government of Sri Lanka (GoSL) reduced variety of taxes substantially in an attempt to revive the economy, which could possibly cost over LKR 500 Bn according to government’s own estimates. Whilst acknowledging the potential boost to the aggregate demand and corporate profitability from the fiscal stimulus in the short-run, ICRA Lanka believes Sri Lanka…
In terms of Rule 11.3.8. (1) (c) of Stockbroker Rules of the Colombo Stock Exchange (CSE), the Board of Directors of the CSE has decided to prohibit Bartleet Religare securities (pvt.) Ltd (BMS) from carrying out purchase of securities on the Automated Trading System of the CSE on behalf of its clients and own account…
Sri Lanka has been named as the top destination, among 20 countries to visit this winter by USA Today. Sri Lanka was described as an exotic island in the Indian Ocean which seduces everyone who steps foot with its stunning unspoiled wilderness, colorful history, and flavorful cuisine. “Jetsetters looking for something off the beaten tourist…
Emerging markets guru Dr. Mark Mobius has arrived in Sri Lanka to participate in an exclusive forum hosted by Cinnamon Life. The latest in a series of high-profile engagements by Cinnamon Life, the interactive forum is set to take place on 10 December, during which Dr. Mobius will share his thoughts on Sri Lanka’s growth potential, share key…
Tokyo Cement Group announces that they will directly pass on the benefit of the recently announced Tax Reduction by the Government, to all their customers. Tokyo Cement Group, the country’s largest manufacturer and supplier of cement, made this announcement following the government’s decision to remove the Nation Building Tax (NBT) and reduce the Value Added…
Sri Lanka’s multi-billion US Dollar project, Port City Colombo is now open for business. Five years into its making, the reclamation of land is complete, and the project company is directing their energy towards making it commercially viable. The new city is positioned not only as an immense draw for Colombo’s Central Business District but…
The Central Bank of Sri Lanka (CBSL) has observed that advertisements and other forms of communications are made through various channels, including print, electronic and digital media, offering loans. Complaints have been made on certain irregularities in this regard. There are some allegations regarding scams, while some are complaining on high interest rates, harassment to…
The Central Bank of Sri Lanka (CBSL) has observed that certain individuals and entities mobilize funds from the public by issuing various instruments. Promissory Notes, Commercial Papers and Debentures are few of them. It should be mentioned that certain categories of institutions raise funds by issuing the above-mentioned instruments in order to meet their financial…
Sri Lanka’s Ministry of Finance has taken steps to prohibit the re-export of key spices such as pepper, Areca nut, cinnamon, nutmeg, mace, cardamom, ginger, turmeric, and cloves. The ban was issued through a gazette notification under Commercial Hub Regulations in the Finance Act. “ No approval shall be granted under these regulations to any…
Singhe Capital Investment (Pvt) Ltd said yesterday (5) it acquired 50.31% of Sinhaputhra Finance Plc for a consideration of Rs. 301 million. Meanwhile, In a disclosure to Colombo Stock Exchange, Sinhaputra Finance Limited noted that 31,675,870 ordinary shares of the company held by K.R.B Wijeyeratne, which consists of 50.31% of the total voting rights were…
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