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New payment terms related to importation of goods gazetted
Regulations have been promulgated under the Imports and Exports Control Act, No. 01 of 1969 and published in the Gazette No. 2278/21 dated 6th May 2022 to regulate selected payment terms related to importation of goods with a view to curb opportunities for under-invoicing at the time of Customs clearance of imported goods. As per […]
Year on year food prices increase close to 50-pct: Advocata
Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 14% from March 2022 to April 2022. This is a year on year increase of 49% for this basket of food. This is driven primarily by prices of dhal and samba rice being the […]
Investment opportunities of Port City Colombo presented in London
Sri Lanka High Commission in London in partnership with the CHEC Port City Colombo (Pvt) Ltd and Commonwealth Enterprise and Investment Council organised a presentation on investment opportunities in education and finance sectors in the Port City Colombo project to UK investors on 26 April 2022 at the High Commission premises. Delivering the welcome address, […]
“Export outlook dims amidst economic challenges” latest CCC-USAID export barometer survey says
Findings from the latest bi-annual Export Barometer Survey indicate that exporters are losing confidence in the industry’s outlook, as firms face mounting challenges posed by increasing local and global economic risks. This survey was conducted by the Ceylon Chamber of Commerce (CCC) and the United States Agency for International Development (USAID)’s Partnership for Accelerating Results […]
Cipla together with SLCP and Big Life magazine to mark World Asthma Day with charity cycle ride on May 7th
The Big Life magazine in partnership with Cipla, a leading pharmaceutical company has organized a fun cycle ride on Saturday, May 7th. to mark World Asthma Day 2022. The ride will commence between 8 and 9 am from NCC, Maitland Place, Colombo 07 and is scheduled to conclude at 10.30am at the grounds. The events’ […]
It is critical that we receive funds from Japan, as they are the only option we have left: Harsha
Contrary to statements made by former Ministers who stated that Sri Lanka will receive funds from the Middle East and various other countries, ultimately, it is only Japan that we have left, speaking in Parliament Harsha de Silva said. “We hear that President Gotabaya has written to the Japanese Prime Minister requesting some money while […]
Another Grant of 300 Million Chinese Yuan from China to Sri Lanka
China has decided to provide another grant of 300 million Chinese Yuan to Sri Lanka to help in the supply of medicine, food, fuel, and other essentials, the Prime Minister’s Office said in a statement. This latest grant will bring the total amount of China’s grant aid to 500 million Chinese Yuan (approximately million).
Luminex Limited announces upcoming IPO
Luminex Limited has announced their plans for a LKR 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at LKR. 8/- per share commencing on the 12th of May 2022. The issue amounts to a 11.52% stake of the company subsequent to the IPO. The amount of LKR 250Mn raised from the IPO will […]
Some Sri Lankan Corporates More Affected by Stressed Environment: Fitch Ratings
Some rated Sri Lankan corporates are more affected by the challenging macroeconomic environment stemming from the Sri Lanka sovereign’s distressed credit profile, Fitch Ratings says. Fitch in April downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’. The Long-Term Local-Currency IDR was affirmed at ‘CCC’. Sri Lankan corporates are grappling with rising costs […]