Category: Commodity
Accountants can assist in implementing effective tax system: Inland Revenue COMNR GEN
Jun 27, 2019 (LBO) – The new Commissioner General of Inland Revenue, Nadun Guruge recently highlighted the important role Chartered Accountants can play in ensuring an effective and efficient tax system in the country. Speaking at the felicitation ceremony organized by CA Sri Lanka, Guruge who assumed duties as the 33rd Commissioner-General also noted that […]
Sri Lanka launches its National Card Scheme
Jun 24, 2019 (LBO) – The Central Bank of Sri Lanka together with LankaClear (LCPL) achieved a significant milestone in the country’s payment landscape by launching the National Card Scheme (NCS). The Central Bank said in a statement that the NCS will be operated by LCPL in partnership with the international payment card operator JCB […]
Sri Lanka imports down 11-pct, tourism earnings down 7.5-pct in April; trade gap narrows
Jun 18, 2019 (LBO) – Sri Lanka’s trade deficit further narrowed to 797 million US dollars from 999 million dollars in April 2018, the Central Bank data showed. The considerable reduction in the trade deficit in April was due to the decline in import expenditure by 11 percent and a marginal increase of export earnings […]
Sri Lanka petrol price raised to Rs138 per ltr
Jun 11, 2019 (LBO) – Sri Lanka’s government will increased the price of 92 Octane petrol by three rupees to 138 rupees for a litre from midnight yesterday. The price revision was done under a pricing formula introduced by the Finance Ministry in 2018. Prices of three other fuels remained unchanged, according to a statement. […]
Fishing For Sustainable Profits in the Northern Province
By Jekhan Aruliah I have so often heard from well meaning cash rich Diaspora that they can’t find sensible investment opportunities in the North. As the Good Book says, “seek and ye shall find”. For example, look at the Northern fisheries industry. It may surprise you to hear that the Northern Province has about 40%* […]
Sri Lanka inflation increased to 3.6-pct in April
May 22, 2019 (LBO) – Headline inflation as measured by the year-on-year change in the National Consumer Price Index increased to 3.6 percent in April from 2.9 percent in March due to the monthly price increases of Food and Non-food items, Central Bank data showed. In April, year on year Food inflation was -1.2 percent […]
Sri Lanka projected to grow 3.6-pct in 2019; reach 5-pct over medium term: IMF staff report
May 17, 2019 (LBO) – Sri Lanka’s economic growth is projected to recover to 3.6 percent in 2019, and gradually reach 5 percent over the medium-term, with inflation in the mid-single digits, the IMF staff appraisal revealed. Inflation is expected to rise to 4.5 percent by end-2019, as economic activity recovers and food prices stabilize, […]
Increased exports in Sri Lanka can improve jobs, raise wages: report
Feb 26, 2019 (LBO) – Increasing exports can lead to better jobs and higher wages in Sri Lanka, including more formal jobs for women, a new report launched today in Colombo, showed. The report also highlighted that the labor market policies can help different groups of workers to acquire the right skills and to ensure that the […]
Inflation likely to remain in 4 – 6 percent range in 2019: Central Bank projections
Feb 22, 2019 (LBO) – Projections of the Central Bank indicates that inflation is likely to remain in the desired 4 – 6 percent range in 2019 and beyond. Headline inflation and core inflation increased in January 2019 mainly due to the increase in non-food inflation driven by higher expenditure on certain items such as […]
EU opposes death penalty; €2.2bn exports under GSP+ from June 2017 – May 2018
Feb 15, 2019 (LBO) – The European Union (EU) has reiterated its opposition to the use of the death penalty in all circumstances and encouraged Sri Lanka to maintain its moratorium on executions with a view to abolishing the death penalty. The EU and Sri Lanka held their 22nd meeting of the Joint Commission yesterday […]
Sri Lanka Customs chief P.S.M. Charles reinstated
Feb 06, 2019 (LBO) – P.S.M. Charles has been reinstated as the Director General of Customs following the its trade union alliance launching a work-to-rule campaign since January 30 on her removal from office. Finance Minister Mangala Samaraweera is said to have withdrawn the proposal to appoint retired navy officer Rear Admiral Shemal Fernando as the […]
Sri Lanka inflation decreased to 0.4-pct in December 2018
Jan 21, 2019 (LBO) – Headline inflation measured by the National Consumer Price Index has decreased to 0.4 percent in December 2018 from 1.0 percent in November 2018, the Central Bank data showed. The Central Bank said the decrease observed in year-on-year inflation in December is driven by the decrease of prices of items in […]