INSEE Cement to Pass on the Benefit of Tax Relief to its Customers, Reduces its Prices of Cement in Bags and Bulk Accordingly. INSEE Cement Sri Lanka (Siam City Cement (Lanka) Ltd) announced that it will be passing on the tax reduction benefits to its consumers and industrial customers. Following the recent announcement by the…
Business sentiment reached nine month high ahead of presidential poll Sri Lanka’s trade deficit widened in September with a decline in earnings from exports exceeding the fall in import expenditure, according to the Central Bank of Sri Lanka. “The trade deficit remained significantly low in the first nine months of 2019 over the same period…
BBC – Larry Page and Sergey Brin, co-founders of Google, have announced they are stepping down from running the online giant’s parent company. The pair will leave their respective roles as Alphabet’s CEO and president but will remain on the company’s board. Google’s CEO Sundar Pichai will become Alphabet’s CEO too, a statement said. Alphabet…
Reuters – Johnson & Johnson said on Tuesday that recent tests showed that Johnson’s Baby Powder was free of asbestos, after U.S. Food and Drug Administration investigations reported trace amounts of the material in the product earlier this year. A total of 155 tests were conducted by two different third-party labs using four different testing…
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, won the prestigious ‘World’s Leading Airline to the Indian Ocean’ title once again at the Grand Final Gala Ceremony of World Travel Awards, in Muscat, Oman recently. The Airline was also nominated for the titles ‘World’s Leading Airline’, ‘World’s Leading…
(Reuters) – Sri Lankan shares closed nearly unchanged on Tuesday, hovering near a 17-month high hit in the previous session, while the rupee ended weaker on concerns related to government coffers following recent tax cuts. ** The benchmark stock index closed largely unchanged at 6,214.99. The bourse gained 1.5% last week, and is up 2.69%…
AFP- Global equities mostly retreated Tuesday after US President Donald Trump warned there was no deadline for doing a trade deal with China. The announcement added to trade uncertainty already stoked by Washington’s re-imposition of metal tariffs on Argentina and Brazil and threats of steep levies for French merchandise. In Britain for a NATO summit,…
Deputy Secretary to the Treasury A.R. Desapriya has been appointed as the new chairman of the Securities and Exchange Commission. Desapriya has 30 years of work experience in the public sector. He is now a special grade officer of Sri Lanka Administrative Service (SLAS). Before he assumed the duties of his current position as Deputy…
Finance Ministry yesterday (02) issued an extraordinary gazette notification for reducing Value Added Tax (VAT). Accordingly, there will be no VAT charged on the supply of services by a hotel, guesthouse, restaurant or other similar business providing similar services, registered with the Sri Lanka Tourism Development Authority, if 60 % of the total value of…
This year’s fiscal deficit is likely to reach 7% of gross domestic product (GDP) due to significant dip in revenue than expected mainly due to slow growth and increase in election-related spending, the Finance Ministry said in a statement. “The expected fiscal deficit for 2019 will be more than the estimated and could settle around 7…
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