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The Sri Lanka Banks Association (SLBA) has issued a statement defending the use of Parate Execution as a legal remedy for recovering mortgaged assets from wilful defaulters and businesses that are no longer viable. The statement comes in response to what the SLBA terms as “lobbying by a group of defaulting borrowers” seeking to weaken […]
Sri Lanka Revises VAT Exemptions Starting 2024 (Complete List)
The Inland Revenue Department of Sri Lanka has announced an update to the list of goods and services exempted from Value Added Tax (VAT) beginning January 1, 2024. The changes are part of amendments to the VAT Act passed in 2023. Key highlights of the revised VAT exemptions include: Several essential food items like wheat, […]
| Nas Daily in Sri Lanka
This is the most beautiful train ride. You will see beautiful nature. Beautiful culture. And beautiful people. Welcome to one of my favorite countries in the world: Sri Lanka. https://www.youtube.com/watch?v=UxdfZVVRbC0
Sri Lankan SMEs Get Export Boost from EDB Coaching Programme
Recognizing the importance of small and medium-sized enterprises (SMEs) to Sri Lanka’s export potential, the Export Development Board (EDB) recently concluded a six-week coaching programme designed to equip them with the tools and strategies to enter international markets. The “Innovative Export Marketing Planning and Market Pitching Programme” saw 25 promising SMEs participate in workshops, individual […]
Sri Lanka and DFC Discuss Deepening Collaboration for Economic Growth
Following a significant investment in the Colombo Port expansion, Sri Lanka seeks to broaden its partnership with the U.S. International Development Finance Corporation (DFC). Ambassador Mahinda Samarasinghe met with DFC CEO Scott Nathan on December 8th to explore avenues for deeper collaboration aimed at boosting Sri Lanka’s economic growth with potential areas of collaboration, including […]
Mahinda Rajapaksa Makes Public Statement Advocating for Lower Taxes
Former President and current leader of the Sri Lanka Podujana Peramuna (SLPP), Mahinda Rajapaksa, issued a media release today calling for a reduction in income taxes. He argues that the current high tax burden is hurting the economy and driving out skilled professionals. Key Points of Rajapaksa’s Statement: Calls for tax reduction: Rajapaksa emphasizes the importance […]
Sri Lankan Small Businesses Seek Breathing Room: Parate Law Suspension Talks Underway
A crucial meeting is set to take place tomorrow (21) at the Jasmine Hall, Bandaranaike Conference Hall, Colombo, between the Minister of Justice, Wijeyadasa Rajapakshe, Plantation Industries Minister Dr. Ramesh Pathirana, and Sri Lankan small businessmen. The discussion will focus on the temporary suspension of the seizure of property under Parate executions. The Sri Lankan […]
Estonia Launches Direct Flights to Sri Lanka
A historic moment awaits Sri Lanka’s tourism industry as the first-ever direct flight from Estonia prepares to touch down at the Mattala Rajapaksa International Airport later today. The inaugural flight, operated by SkyUP Airlines, is scheduled to arrive at 11.50 pm tonight, carrying a group of eager tourists from the Estonian capital, Tallinn.This new route […]
‘s power minister orders a halt to bonuses and allowances for CEB employees
Kanchana Wijesekera has instructed the Ceylon Electricity Board (CEB) to stop paying bonuses and allowances to its employees. In a letter to the CEB chairman, general manager, and directors of the board, Wijesekera said that the decision was made in order to reduce the cost of operations and administration. He added that the 25% salary […]
Meeting with the Deputy Managing Director of CHEC Port City Colombo
Deputy Managing Director of CHEC Port City Colombo Thulci Aluwihare met the Deputy High Commissioner of Sri Lanka in Southern India Dr. D. Venkateshwaran and Minister [Commerce] of the Deputy High Commission G. L. Gnanatheva on 15 December 2023. During the meeting, they discussed the importance of sourcing Southern Indian investments for the Port City […]