Author: lbostgadmin

CA Sri Lanka expands its presence in the United Kingdom with new overseas chapter

Embracing its role as a world-class professional body, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) continued to expand its global footprint by establishing a new chapter in the United Kingdom.  The CA Sri Lanka United Kingdom Chapter was formally unveiled at a special event in Greater London, in the presence of […]

Colombo-Stock-Exchange

Constituent Change in the S&P Sri Lanka 20 Index

The Colombo Stock Exchange (CSE) announces the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2023 year-end rebalance. The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 18th Dec 2023 (after the market close of 15th Dec 2023) are presented below.  Exclusions […]

Hirdaramani Apparel, Lacoste Foundation, and UNDP Collaborate to Empower 100 Families

Hirdaramani Apparel and the Lacoste Foundation have come together through the United Nations Development Programme (UNDP) in Sri Lanka’s facility for Private Sector Giving to promote socio-economic recovery and food security and address its multidimensional vulnerabilities. To signify the partnership, Vinod Hirdaramani – Chairman, Hirdaramani Apparel, and Azusa Kubota – Resident Representative of UNDP in […]

IMF

IMF Staff Mission Recommends Avoiding Further Monetary Policy Loosening in Sri Lanka

The International Monetary Fund (IMF) staff mission visiting Sri Lanka has concluded that further loosening of monetary policy could be detrimental to the country’s economic recovery and advised against such measures. The mission emphasized the need to avoid “a faster-than-warranted monetary policy loosening” due to the potential for elevated inflation risks.They cautioned that such a […]

Sri Lanka and Thailand to Sign Free Trade Agreement in February 2024

The 8th round of negotiations for the Sri Lanka-Thailand Free Trade Agreement (SLTFTA) concluded successfully on November 29th, paving the way for a historic deal to be signed in February 2024. The negotiations, co-chaired by the Chief Negotiators of both countries, Auramon Supthaweethum (Thailand) and K. J. Weerasinghe (Sri Lanka), saw both sides agree to […]

Public Investment for SDG Financing in Sri Lanka: Reality or Myth?

By Dr Lakmini Fernando Realising Sustainable Development Goals (SDGs) by 2030 requires substantial investment allocation, especially for developing economies like Sri Lanka. A recent IPS study found that Sri Lanka needs an additional investment of USD 1.4 trillion or 12.5 percentage points of GDP by 2030 to achieve SDGs. Despite Budget 2024 allocating 5.4% of […]

Ceylon-Chamber-of-Commerce

‘s First Review under the EFF Arrangement for Sri Lanka

The Ceylon Chamber of Commerce appreciates the Board approval of the International Monetary Fund’s (IMF) completion of its first review under the 48-month Extended Fund Facility (EFF) with Sri Lanka.  This milestone, granting Sri Lanka access to approximately US$337 million, underscores the nation’s commitment to fulfilling key performance criteria and benchmarks. Notably, this includes the […]

Asia-Pacific Human Development Report calls for new directions to address rising inequality, climate change, and economic headwinds

Asia-Pacific Human Development Report calls for new directions to address rising inequality, climate change, and economic headwinds

The narrative of human development in Asia and the Pacific has been one marked by advancement, inequality, and unforeseen challenges. Against this backdrop, the launch of the United Nations Development Programme (UNDP)’s 2024 Asia-Pacific Human Development Report in November, represents a crucial step in revitalizing human development amidst a complex landscape of growth. Nationally, the […]

‘s build a new country together: Eran

Eran Wickramaratne MP alleged that foreign investors do not come to this country not because of the lack of tax incentives, but because the country’s laws are not properly implemented. He said that the fact that Sri Lanka is ranked 99th in the international index of ease of doing business and 164th in the enforcement […]

‘s VAT Hike and Economic Policies

Patali Champika Ranawaka, leader of the United Republic Front and Member of Parliament, denounced the government’s decision to raise Value Added Tax (VAT) from 15% to 18%. He accused the administration of misleading Parliament and forcing through the increase disregarding public opinion. “The government’s actions display a shocking lack of discipline and decency,” Ranawaka declared. […]

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