Category: Economy and Markets
IMF staff mission for Sri Lanka defends new tax schedule for personal income tax
The tax package, including the new tax rate schedule for personal income tax, is in line with international comparison, defending the government’s new tax structure, the IMF staff mission for Sri Lanka said. In response to recent media reports about tax hikes in the country, the staff mission said in a statement that those who […]
Colombo Stock Exchange opens its newest branch in Panadura
The Panadura branch of the Colombo Stock Exchange (CSE) was officially opened to the public by the CSE Chairman, Dilshan Wirasekera, on the 2nd of March 2023, with the participation of a few Stockbroker Firms, President of Sinhala Business Association Gihan Kuruppu, CSE CEO Rajeeva Bandaranaike, Senior Management and the staff. Panadura Branch is the […]
World Bank VP concludes visit to SL, Reaffirms support to protect people
World Bank Vice President for South Asia, Martin Raiser, recently concluded his four-day visit to Sri Lanka, reaffirming the World Bank’s continued support to help the country navigate economic challenges, implement critical reforms, and chart a path towards a resilient and inclusive recovery. Raiser met with Sri Lanka’s President and Minister of Finance H.E. Ranil […]
Merchandize exports record one billion dollars in January 2023
Sri Lanka’s merchandise exports decreased by 8.98 % to US$ 1,001.9 Million in January 2023 compared to January 2022 as per the data released by the Sri Lanka Customs. However, it is a 6.97% increase when compared to January 2021. Table 1: Merchandise Export Performance […]
Increase PAYE tax threshold from Rs 100,000 to 200,000: Eran
SJB alleges that it is a serious problem that the people have to take to the streets, as they have been burdened with heavy taxes while the working people have lost their income. As a result, the food insecurity, increased mal-nutrition and prevention of diseases have become a big problem for the people, said Eran […]
Research Intelligence Unit hosts engaging webinar on lessons drawn from Sri Lanka’s debt crisis
The international research firm Research Intelligence Unit (RIUNIT) considered it important to broaden the debate and evolve beyond the ‘same old’ regurgitation of rhetoric which isn’t very useful in reaching solutions to the predicament faced by Sri Lanka. It was also felt that it’s important to share the lessons from Sri Lanka with the other […]
‘s export earnings decline to 11.3-pct in Jan 2023: Imports down 29.2-pct
• The deficit in the merchandise trade account narrowed in January 2023, compared to a year ago. • Export earnings declined while import expenditure remained subdued in January 2023, compared to year earlier. • Workers’ remittances and earnings from tourism continued to increase in January 2023. • Gross official reserves strengthened at end January 2023, […]
CCPI based headline inflation eases in February 2023: Food inflation down to 54.4-pct
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 decreased to 50.6% in February 2023 from 51.7% in January 2023. The decline in the headline inflation is broadly in line with the disinflation path envisaged by the Central Bank of Sri Lanka (CBSL) in January 2023. The […]
Doc990 introduces digital health services via Amazon’s alexa
Introducing the next frontier for conveniently accessing healthcare services from home, Doc990, Sri Lanka’s pioneering digital health solutions service provider, powered by Dialog Axiata PLC, extended Amazon Alexa Voice Command Support for digital health services for the first time in Sri Lanka.This new feature enables customers to easily access the Doc990 services with simple voice […]
Sri Lanka’s crisis offers an opportunity to reset its development model
By Martin Raiser, Vice President for the South Asia Region, World Bank Group Sri Lanka is at a critical moment in its history. Years of economic mismanagement, weak governance, poor policy choices, and the impacts of external shocks such as the COVID-19 pandemic and the Russian invasion of Ukraine, plunged the country into its worst-ever crisis in […]
Sri Lanka targets growing European market for organic food
A delegation from Sri Lanka participated in the BIOFACH Trade Fair, the world’s largest annual organic food products trade show held from 14-17 February 2023 in Nuremberg, Germany. This annual trade fair held since 1990 attracts food industry professionals from across the world. This year, 2,765 exhibitors from 95 countries participated in the trade fair. The fair was […]
Delmege Forsyth launch new energy saving LED bulb
Delmege Forsyth & Co Ltd, launched its newest product from its ever-increasing product portfolio in the form of a range of high quality LED bulbs. The acronym LED is derived from Light Emitting Diodes which is known to produce a light with an electrical current passing through a microchip. The significance of the LED bulb […]