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PwC Sri Lanka firms announce exit from PwC network, and their plans to join Deloitte network
The Sri Lanka firms of the PwC network have announced their decision to exit the network. The firms intend to join the Deloitte network, with effect from 28 October 2023. Further, it has been mutually agreed that PwC Sri Lanka will leave the PwC network as of 27 October 2023. The PwC network and the […]
Harsha proposes tax reforms to relieve burden on middle class and professionals
MP Harsha de Silva’s Tax Reform Proposal: Simplify PAYE tax structure and introduce surcharge.Surprising Revenue Figures: PAYE collection surpasses expectations, while PIT falls short.Inequality in Tax Burden: Current system disproportionately impacts middle-class professionals.MP’s Evidence-Based Approach: Proposed reforms aim to balance government revenue and reduce the tax burden.Combatting Tax Fraud: Efforts to address LKR 60 billion […]
SEC & CFA Society Sri Lanka Collaborate to Promote “Enhancing Research Integrity” among Stock Broker Firms
The Securities and Exchange Commission of Sri Lanka (SEC) and the CFA Society Sri Lanka (CFASSL) recently joined forces to host a workshop aimed at strengthening research integrity within the stockbroker industry. The event, titled “Enhancing Research Integrity,” took place at the SEC Auditorium and saw participation from prominent professionals in the financial sector. Tushara […]
Supreme Court Allows TISL to Intervene in X-Press Pearl Case
Earlier this year, Transparency International Sri Lanka (TISL) filed an intervention petition in the Supreme Court, seeking permission to intervene in Case No. SC/FR 168/2021, which was filed by the Centre for Environmental Justice seeking fair compensation for the victims of the XPress Pearl disaster. The Attorney General strongly objected to the intervention. Today (6th […]
Sri Lanka to take over Chair of Indian Ocean Rim Association; Ministers meet in Colombo next week
Ministers of Foreign Affairs of the Indian Ocean Rim Association (IORA) as well as other senior Ministers of IORA Member States and Dialogue Partners will arrive in Sri Lanka next week for the 23rd IORA Council of Ministers which Sri Lanka is hosting on 11 October 2023 in Colombo. The Council of Ministers meeting in […]
Ceylon Tea promoted in Chile with 12 Sri Lankan Tea exporting companies
The Embassy of Sri Lanka in Brazil, which is concurrently accredited to the Republic of Chile, in collaboration with the Sri Lanka Tea Board organized ‘Sri Lanka pavilion’ with the participation of the twelve (12) Sri Lankan Tea exporting companies namely; Dilmah Ceylon Tea Company PLC, Millennium Teas (Pvt) Ltd, Shan Teas (Pvt) Ltd, TDK […]
‘s 16-point prescription for reform
In a scathing indictment of Sri Lanka’s governance landscape, the International Monetary Fund (IMF) has handed down a damning verdict. MP Harsha de Silva, speaking at Wednesday’s parliament session, highlighted the gravity of the situation as he discussed the contents of the IMF’s Governance Diagnostic Assessment report. Verdict is clear: corruption has permeated every level […]
Kasturi Chellaraja to join a global firm after resigning from Hemas Holdings
Hemas Holdings PLC, a leading Sri Lankan conglomerate, today announced the resignation of Ms. Kasturi Chellaraja Wilson from her position as Group Chief Executive Officer, effective 31st March 2024. Kasturi has been an integral part of the Hemas family for over two decades, having led several businesses within the Group before assuming the role of […]
SEC urges Compliance Officers to play a more effective role
As part of their continuing efforts to strengthen market standards and investor confidence, officials of the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) recently met with Compliance Officers of all categories of Market Intermediaries. The meeting served as a valuable opportunity to engage in a constructive dialogue on […]
Fitch Affirms Ratings on 15 Sri Lankan Banks; Removes Watch Negative; CBL on Negative Outlook
Fitch Ratings has affirmed Bank of Ceylon’s Long-Term Local-Currency Issue Default Rating (IDR) at ‘CCC-‘ and removed it from Rating Watch Negative (RWN). The Outlook is Stable. At the same time, Fitch has affirmed the National Long-Term Ratings of the following banks, removed them from RWN and assigned Stable Outlooks: BOC at ‘A(lka)’ People’s Bank […]