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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III compliant subordinated debentures of up to LKR12 billion a final National Long-Term Rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 11 August 2023 and follows the receipt of documents conforming to […]
Sri Lanka’s Mobile Network Performance Lags Behind in South Asia: Analysis
In a recent analysis by Opensignal, which examined the mobile network experiences of smartphone users across the six most populated countries in South Asia, Sri Lanka’s performance was found to be lacking compared to its regional counterparts. The study, which included Afghanistan, Bangladesh, India, Nepal, Pakistan, and Sri Lanka, revealed significant disparities across the region. […]
PUCSL electricity tariff revision discriminatory: Advocata
Electricity tariff design must meet two main objectives: firstly, raising the money needed to pay for the costs of provision, and secondly, sending the right economic signals to each customer to favour the optimal socio-economic use of electricity. To achieve the above objectives the principles that must be followed when designing tariffs are; Economic sustainability […]
‘s real estate market trends
In a significant stride towards fostering transparency and informed decision-making within South Asia’s real estate landscape, the Research Intelligence Unit (RIUNIT) unveiled a series of reports during the 8th Islamic Finance Forum of South Asia, held on recently at the Shangri-La hotel in Colombo. These reports provide a holistic view of the real estate markets […]
World Bank Managing Director Visits Sri Lanka, Stresses Need to Pursue Reforms, Invest in People
World Bank Managing Director for Operations, Anna Bjerde, concluded her four-day visit to Sri Lanka today, encouraging the Government of Sri Lanka to stay the course on reforms for recovery and sustainable growth. She also underscored the World Bank’s continuous commitment to investing in people, strengthening human capital, and creating jobs. Bjerde met with Sri […]
Civil Society Urges Immediate Governance Reforms
The people will hardly benefit from the aid and assistance Sri Lanka receives as long as corruption persists, Transparency International Sri Lanka (TISL) Executive Director, Nadishani Perera said. She was addressing a discussion at the Sri Lanka Foundation Institute in Colombo last week, focusing on the recommendations detailed in ‘The Civil Society Governance Diagnostic Report […]
VAT to be increased to 18-pct from January; coverage will be expanded to meet targets agreed with IMF
The current Value Added Tax (VAT) rate is to be increased to 18% with effect from 01-01-2024, and to impose the tax on certain goods and services to which the Value Added Tax does not apply. According to the Cabinet of Ministers, this will be carried out to achieve the tax revenue and primary balance […]
‘s Prime Minister
Benjamin Netanyahu has said that a ceasefire in the war in Israel-Gaza “will not happen”, describing calls for a ceasefire as “calls for Israel to surrender to barbarism”. The Israeli Prime Minister said during a press briefing: “Calls for a ceasefire are calls for Israel to surrender to Hamas, to surrender to terrorism, to surrender […]
99x Launches Inspiring Scholarship Programme for Future Tech Leaders
99x has launched an inspiring scholarship programme aimed at empowering young minds who have excelled in their Ordinary Level and Advanced Level examinations. The scholarship offers a paid internship providing invaluable hands-on industry experience, enhancing potential candidates with technical skills, inclusive of an allowance to facilitate scholars in pursuing advanced educational programmes, including degree studies. […]
Opinion: Reforming tax incentive structure in Sri Lanka
The second tranche of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) was delayed as the country failed to meet some of the program targets including the government revenue target. This prompted the IMF in their latest review to reiterate the need to “strengthen tax administration, remove tax exemptions, and actively eliminate tax evasion” […]