Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI) increased to 5% in September 2019 from 3.4%in August 2019, the Central Bank of Sri Lanka said. The monthly increases of prices of items in both Food and Non-food categories contributed to this increase as reflected in year-on-year Food and…
The Financial Action Task Force (FATF), the global policy setter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), has delisted Sri Lanka from FATF’s Compliance Document which is more commonly identified as “the Grey List”. The decision was taken at the FATF Plenary held during 13-18 October 2019 in Paris. In October 2016, the FATF announced that…
Hayleys PLC in a stock exchange filling announced the appointment of Ms. Kawshi Amarasinghe as the alternate Director (Non-executive) to Dhammika Perera with effect from 17th October 2019. Kawshi Amarasinghe currently serves as Manager of International Business Development and CSR at Vallibel One PLC. She is responsible in leading the Research and Strategic Business Development…
(Reuters) – ** Sri Lankan shares closed flat on Monday, as gains in consumer staples were offset by losses in telecommunications shares, while investors also waited for policy manifestos of key presidential candidates. The rupee ended firmer. ** The benchmark stock index closed 0.01% higher at 5,863.99. The index has fallen 3.11% so far this…
Unexplained gap between Bulk export and High Grown average widens in every month of 2019 Warns of severe disruption to the industry if producers continue to be squeezed on price at auction Urges all stakeholders to ensure that producers are given a fair and sustainable price at auction Calls for immediate action to shift industry…
The Board of Investment of Sri Lanka signed a supplementary Agreement with M/s Senaka Zenn (Private) Limited to set up a project to manufacture pre-stressed spun concrete electrical poles, piles and railway sleepers with an improved technology, for both local and export markets. The Initial investment made by the Company was US$ 10.3 million. The…
Though Sri Lanka – Canada bilateral trade is modest, surging Lankan exports to Canada could turn it around. “Annual Canada-Sri Lanka trade values at present show an unexploited trade potential that needs to be explored” said Minister of Industry, Commerce, Resettlement of Protracted Displaced Persons, Cooperative Development, Skills Development & Vocational Training (ICTPDPCDSDVT) Rishad Bathiudeen…
It has been identified that it is appropriate to increase the number of panels to hear the appeals, as at present, there are 495 cases to the value of Rs.63 billion pending before the Tax Appeals Commission which has been established under the Tax Appeals Commission Act, No.23 of 2011. However, due to the reasons…
The proposal made by the Minister of Finance to publish the draft (Amendment) Bill for the amendment of the Betting and Gaming Levy Act, No.40 of 1988 prepared by the Legal Draftsman in the Government Gazette for increasing the Annual Levy from Rs.200 million to Rs.400 million, for carrying on the business of gaming other…
A large number of issues has arisen pertaining to the debt management in Sri Lanka and it has been found necessary to have a single institution for this purpose. Accordingly, the proposal made by the Minister of Finance to obtain the approval, in principle, to establish an Institution for debt management named as the Public…
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