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President wants public sector inefficiency to end during his term
The inefficiency in the state sector which has resulted in creating displeasure among the public towards every previous government should come to an end during the tenure of the present government, President Gotabaya Rajapaksa emphasized. He highlighted the importance of efficiency and transparency in every state entity with a direct linkage to the day to […]
Sri Lanka bans Ethanol importation for liquor production
Jan 01, 2020 (LBO) – Sri Lanka’s Ministry of Finance and Planning has decided to suspend the importation of Ethanol from other countries. The Finance Ministry said the import of Ethanol for liquor production will be suspended from today (1st January) on the directives of Prime Minister Mahinda Rajapaksa as the Minister of Finance. This […]
IRD issues circular to banks about new Withholding Tax structure
Jan 01, 2020 (LBO) – Sri Lanka’s Inland Revenue Department has issued a new circular to banks and financial institutions detailing the new Withholding Tax structure which will be effective from today to 31 March 2020. According to the circular, for the period from today to 31 March, aggregate interest income from all the accounts […]
Inland Revenue Dept. issues the list of VAT registration deactivated persons
Jan 01, 2020 (LBO) – Sri Lanka’s Inland Revenue Department has published the complete list of persons & businesses whose taxable supply has never exceeded 75 million rupees for any taxable period ended prior to 31 December 2019. Such inactivated persons are not permitted to collect VAT on the supplies made on or after today […]
2020 New Year celebrations around the world (VIDEO)
Jan 01, 2020 (LBO) – Major cities around the world kick-started the New Year with firework displays, dazzling performances, and shows. As the last revellers from around the world ring in, we looked at celebrations in some of the globe’s biggest cities and their glitziest displays. Sri Lanka’s premier digital business news provider, LankaBusinessOnline would […]
K C Vignarajah writes letter to President Gotabaya Rajapaksa
H. E President Gotabaya Rajapaksa, 31st Dec 2019. President, Democratic Socialist Republic of Sri Lanka, Presidential Secretariat, Colombo 1 Dear President, Congratulations, concerns & Best Wishes to uplift our motherland. I have the honour and humility to address you on matters where I have decades of experience, expertise, enterprise, & visionary zeal for the betterment of our beloved […]
CSE indices comparison for 2019: ASPI up 1.3-pct, S&P SL20 down 6.3-pct
Dec 31, 2019 (LBO) – Colombo Stock Exchange ended the year 2019 on Tuesday with a positive note, rounding up the gain of All Share Price Index (ASPI) by 1.27 percent to 6,129 as compared to the beginning of the year. The ASPI is the broad market index of the CSE and is designed to […]
CICT ends 2019 with 2.9mn TEUs, 40-pct of Colombo Port’s volume
Dec 31, 2019 (LBO) – Colombo International Container Terminals (CICT) has announced it handled a total of 2.9 million TEUs in 2019, achieving an 8.6 percent increase in its throughput and accounting for 40 percent of the volume of the Port of Colombo in the 12 months ending 31st December 2019. The Company, which manages […]
ISM APAC appoints its first Sri Lankan Managing Director
ISM APAC, the regional arm of Netherlands based e-commerce company ISM e-Group, marked the dawn of a new era as it announced the appointment of its first Sri Lankan Managing Director, Priyantha Bethmage as the two Dutch General Managers of the company bid farewell. With its head office located in IT Park Orion City in […]
Loud music not allowed in buses from tomorrow: Transport Ministry
Dec 31, 2019 (LBO) – Sri Lanka’s Transport Ministry says that it will not allow loud music in buses from 01 January 2020 and advises passengers to use the hotline 1955 to lodge any complaint regarding the matter. According to the Ministry, a collection of 1,000 classical audio songs and high-quality music videos will be […]