Category: Economy

Feb. 05, 2015 (LBO) – Sri Lanka’s Chamber Chief commenting on the slapping taxes on the private sector by the new government, said that not all private sector companies in the Island had ill-gotten gains. In terms of concerns on the budget actually yes, some of the one – off taxes will hurt. But if […]

Feb 05, 2015 (LBO) – Sri Lanka has gained another chance to rebuild the nation with unity and harmony among communities, Sri Lanka’s Prime Minister Ranil Wickramasinghe said in an Independence Day message. Sri Lanka gained independence from British in 04th of February 1948 following a struggle led by the island’s first Prime Minister D […]

Feb 05, 2015 (LBO) – Sri Lanka’s Deputy Policy Planning and Economic Affairs Minister Dr. Harsha de Silva, said that the new government would get the private sector and industry involved for a better economic policy in going forward. This is not necessarily means our policy Going Forward,” Our policy Going Forward will be formulated […]

Feb 02, 2015 (LBO) – Sri Lanka’s Finance Minister said he was ready to pay Mansion Tax even though his house was less than 5000 square feet. He made this comment during a television program on Saturday. My house is about 4800 square feet but I’m ready to pay the tax because I imposed it, […]

Feb 02, 2015 (LBO) – Sri Lanka’s Treasury bill yields were flat on Monday’s auction with the 12-month yield unchanged at 6.05 percent, data from the state debt office showed. 6-month yield was also frozen at 5.90 percent and 1,325 million rupees were accepted from 5,660 million rupees. The debt office offered 12,000 million rupees […]

Jan 31, 2015 (LBO) – Sri Lanka’s Total Debt to Gross Domestic Product (GDP) ratio would increase to 88.9 percent from reported 74.4 percent of the government debt in the end 2014, the Finance Minister has said. According to the provisional data, the outstanding debt of the government as at end 2014 was LKR 7,373 […]

Jan 31, 2015 (LBO) –Sri Lanka inflation increased to 3.2 percent in January 2015 from 2.1 per cent in December 2014, on a year-on year basis, as a result of the increase in food prices, the Central Bank said in a media release. The data is based on the change in the Colombo Consumers’ Price […]

Jan 30, 2015 (LBO) – Sri Lanka’s new government impose an annual license fee of 1.5 million rupees irrespective of the fact whether importers are engaged in importing brand new or used vehicles, Finance Minister said yesterday. However this tax will take away the freedom of individual citizens to import cars and open paths for […]

Jan 30, 2015 (LBO) – Sri Lanka revised the vehicle taxes and cut taxes on the motor cars with engine capacity less than 1,000 cc by 15 percent, Finance Minister said yesterday presenting the mini budget. The changes has been taken place with effect from mid night yesterday. The Minister said that the measure has […]

Jan 29, 2015 (LBO) – Sri Lanka Minister of Finance Ravi Karunanayake said that the economy in the island is a sad state and could be restructured though proper mechanism. He said this presenting the interim budget 2015 to the parliament. The main aim of the Government is to revitalise this economy, Ravi Karunanayake, Minister […]

Jan 29, 2015 (LBO) – Sri Lanka’s government to increases monthly salary of the state sector employees’ by 10,000 rupees, Minister of Finance Ravi Karunanayake, presenting a budget for 2015. We hope to grant more concessions to the public than we promised. He also asks the private sector to consider raising pay by 2,500 rupees. […]

Jan 29, 2015 (LBO) – Sri Lanka’s government will give a 15 percent interest rate to deposits of senior citizens in banks of up to one million rupees, Finance Minister Ravi Karunanayake said, presenting the interim budget in the parliament. This will cost an extra 4,900 million rupees to the government. Pensions of state workers […]