Category: Economy and Markets
Central Bank differs rate hike, as inflation gallops ahead
Sri Lanka’s budget deficit expands and reserves make a small recovery, as the government differs payments and opts for dollar bonds to balance the books.Sri Lanka’s budget deficit expands and reserves make a small recovery, as the government differs payments and opts for dollar bonds to balance the books. The overall budget deficit for first […]
Impacts of Sethusamudram to be discussed this month
The initial findings on the impact of India’s Sethusamudram ship canal project on Sri Lanka, will be submitted to the government this month.The initial findings on the impact of India’s Sethusamudram ship canal project on Sri Lanka, will be submitted to the government this month. The initial findings, relating to specific areas, will be submitted […]
The European Commission is putting up grants up to Rs12.5 mn under its Small Projects Facility.
The European Commission is inviting project proposals to provide grants up to Rs 12.5 mn under its Small Projects Facility (SPF). The European Commission is inviting project proposals to provide grants up to Rs 12.5 mn under its Small Projects Facility (SPF). Project proposals can be submitted by Sri Lanka based non-profit legal entities, governmental […]
The Treasury has “no good news” on tax anomalies
The Treasury says it has no “good news” to offer in terms of rectifying tax anomalies and says belt up and pay up to prosper.The Treasury says it has no “good news” to offer in terms of rectifying tax anomalies and says belt up and pay up to prosper. “I have no good news,” said […]
Primary Dealers lobby for tax correction
Primary dealers were lobbying to correct a rushed provision to the Inland Revenue Act last month that could slap a huge tax bill on the industry.Primary dealers were lobbying to correct a rushed provision to the Inland Revenue Act last month that could slap a huge tax bill on the industry. Although the Inland Revenue […]
Vanik on the mat after failing to meet interest payments for debentureholders
The Trustee of Vanik debentureholders have asked the Colombo Stock Exchange to take action against the company for failing to honour its interest payments.The Trustee of Vanik debentureholders have asked the Colombo Stock Exchange to take action against the company for failing to honour its interest payments. Trustees Secretarius (Pvt) Ltd said the third installment […]
Sri Lankan pepper no threat to Indian pepper
Pepper exports to India are not breaking the Indo-Lanka free trade pact or destabilising Indian production, say pepper producers in Sri Lanka.Pepper exports to India are not breaking the Indo-Lanka free trade pact or destabilising Indian production, say pepper producers in Sri Lanka. “The Indian trade delegation from Delhi that was here in August were […]
WTO agrees to look at adjustment costs when quotas are gone
Smaller garment-dependent countries got a break this week with the World Trade Organisation (WTO) agreeing to look at ‘adjustment issues’ when quotas are gone.Smaller garment-dependent countries got a break this week with the World Trade Organisation (WTO) agreeing to look at ‘adjustment issues’ when quotas are gone. The WTO’s Goods and Services Council agreed this […]
Subsidies feed up fat cats and not those that need it, says the International Labour Organisation.
Subsidies are not just wasteful but quite a lot of it ends up fattening up the already fat cats, says the International Labour Organisation (ILO).Subsidies are not just wasteful but quite a lot of it ends up fattening up the already fat cats, says the International Labour Organisation (ILO). A report published by the ILO […]
Diplomatic moves to extend supplier credit to tide over external shocks and stabilise a nervy rupee
Sri Lanka is stretching diplomatic goodwill by asking friendly nations to extend supplier credit to tide over external shocks and ease pressure on the rupee, Treasury Secretary said.Sri Lanka is stretching diplomatic goodwill by asking friendly nations to extend supplier credit to tide over external shocks and ease pressure on the rupee, Treasury Secretary said. […]
Sri Lanka lobbies for emergency fund to tide over external shocks like high oil prices
Sri Lanka asked international monetary authorities to come up with a contingent facility to tide over crude oil shocks that’s strangling trade dependent nations.Sri Lanka asked international monetary authorities to come up with a contingent facility to tide over crude oil shocks that’s strangling trade dependent nations. Such funds could be used to help develop […]
Import bill gallops ahead as fuel prices eats gains from textile and apparel exports
Sri Lanka’s import bill raced ahead of export earnings in July, as a hefty fuel bill erased gains from apparel and tea revenues, the Central Bank said Friday. Sri Lanka’s import bill raced ahead of export earnings in July, as a hefty fuel bill erased gains from apparel and tea revenues, the Central Bank said […]