Tax changes included in proposed Inland Revenue Amendment Bill
Jan 22, 2020 (LBO) – Sri Lanka’s Finance Ministry announced the list of tax changes introduced in the proposed Inland Revenue Amendment Bill which is to be …
Economy
Sri Lanka’s inflation increased to 6.2-pct in December
Jan 22, 2020 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index increased to 6.2 …
Cabinet nod to amend Inland Revenue Act; to be presented to Parliament
Jan 21, 2020 (LBO) – Sri Lanka’s Cabinet of Ministers have approved the proposal to amend the Inland Revenue Act to reflect new tax proposals …
Debt moratorium for SMEs, credit negative for banks, unlikely to support economic recovery
Jan 20, 2020 (LBO) – Sri Lanka’s debt moratorium for SMEs is credit negative for Sri Lankan banks and the sovereign because it risks increasing …
Trade deficit narrows marginally in Nov with imports, exports declining
Jan 17, 2020 (LBO) – Sri Lanka’s trade deficit contracted marginally in November 2019 (year-on-year), with both imports and exports declining, the …
S&P revises Sri Lanka’s outlook to negative; ratings affirmed at ’B/B’
Jan 16, 2020 (LBO) – Ratings agency Standard & Poor’s said it revised its outlook on Sri Lanka’s credit rating to negative from stable, citing …
World Bank forecasts Sri Lanka’s growth at 3.3-pct in 2020
Jan 14, 2020 (LBO) – The World Bank has forecast Sri Lanka’s economic growth for 2020 at 3.3 percent, the bank said in a statement. In its latest …
President requests Japan to invest in high tech assembly plants in Sri Lanka
Jan 13, 2020 (LBO) – Measures will be taken to further strengthen long-standing bilateral relations between Japan and Sri Lanka, Japanese State Minister for …
Sri Lanka official reserves improve to USD7.6bn by end December
Jan 09, 2020 (LBO) – Sri Lanka’s gross official reserves were 7,638.5 million US dollars by the end of December last year, up from 7,520.4 million US …
Sri Lanka achieves 1.9Mn revised tourists arrival target for 2019: SLTDA
Jan 07, 2020 (LBO) – Despite 2019 being a tough year for the tourism industry, Sri Lanka has achieved the revised tourists’ arrival target for 2019 …
Sri Lanka’s new Banking Act to facilitate banks in Colombo Intl. Financial Centre
Jan 06, 2020 (LBO) – Sri Lanka’s Central Bank has initiated drafting a new Banking Act and expects to complete its enactment in 2021. The new Banking …
Sri Lanka’s Central Bank to maintain inflation within 4 to 6-pct
Jan 06, 2020 (LBO) – Sri Lanka’s Central Bank expects to maintain inflation within a range of 4-6 percent through a transparent, coherent, and …
CB Chief urges Sri Lanka banks to rethink its credit disbursement policies
Jan 06, 2020 (LBO) – Central Bank Governor Professor W D Lakshman urged Sri Lanka’s banking sector to rethink its credit disbursement policies, as the …
‘Manufacturing in 2020: Connecting machines to networks and companies to end-consumers’
Antony Bourne – President- IFS Industries While change is buffeting the industrial manufacturing industry from a number of directions, the most …
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 …
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 …
First Capital Research trims down its rate cut probability to 50-pct
Dec 24, 2019 (LBO) – Considering the recent major policy changes, First Capital Research has trimmed down its rate cut probability to 50 percent from the …
W D Lakshman appointed new Governor of Sri Lanka’s Central Bank
Dec 24, 2019 (LBO) – Professor W D Lakshman has been appointed as the new Governor of Central Bank of Sri Lanka. An official at the Central Bank told LBO …
Sri Lanka nationwide inflation decreased in November
Dec 24, 2019 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index decreased to 4.1 …
CA Sri Lanka, CMA & SAFA launches Digital Competency Maturity Model for SMPs
Dec 23, 2019 (LBO) – With digitization expected to have profound implications on Small and Medium-Sized Practices (SMPs), the South Asian Federation of …