Category: Economy

Monday’s earthquake off the nothern tip of Indonesia has been described as an aftershock, one of many that has been shaking up the region since the 9.0 quake that killed over 200,000 people on the day after Christmas.Monday’s earthquake off the nothern tip of Indonesia has been described as an aftershock, one of many that […]

Sri Lanka reactivated its dormant Bribery Commission by appointing retired Supreme Court Judge Ameer Ismail to head the three member panel.Sri Lanka reactivated its dormant Bribery Commission by appointing retired Supreme Court Judge Ameer Ismail to head the three member panel. With Ismail’s appointment, the “three-member Commission to Investigate Allegations of Bribery and Corruption (CIABOC) […]

The Pacific Tsunami Warning Centre just announced that land masses within a 1000 km radius of northern Sumatra could be at risk from a tsunami following an that earthquake struck the East Asian nation just pst 10 pm Sri Lankan Time.The Pacific Tsunami Warning Centre just announced that land masses within a 1000 km radius […]

Sri Lanka’s foreign minister ruled out an early resumption of peace talks to end a three-decade conflict with Tamil Tiger rebels but said a deal on disbursing tsunami relief was possible. Sri Lanka’s foreign minister ruled out an early resumption of peace talks to end a three-decade conflict with Tamil Tiger rebels but said a […]

Sri Lanka’s foreign minister ruled out an early resumption of peace talks to end a three-decade conflict with Tamil Tiger rebels but said a deal on disbursing tsunami relief was possible. Sri Lanka’s foreign minister ruled out an early resumption of peace talks to end a three-decade conflict with Tamil Tiger rebels but said a […]

Employers blasted the governments watered down hire and fire polices, they say, will scare foreign investors and be a bottleneck for restructuring sick businesses.Employers blasted the governments watered down hire and fire polices, they say, will scare foreign investors and be a bottleneck for restructuring sick businesses. Top chambers led by the Joint Business Forum […]

Asia’s economic growth rates of as much as 10 percent are causing pollution, stripping forests, depleting fisheries resources and causing other unsustainable environmental losses, a senior United Nations official said. Asia’s economic growth rates of as much as 10 percent are causing pollution, stripping forests, depleting fisheries resources and causing other unsustainable environmental losses, a […]

India’s US $ 400 mn Sethusamudram canal is aimed at improving Indian security and will not threaten Sri Lanka economically, say experts. India’s US $ 400 mn Sethusamudram canal is aimed at improving Indian security and will not threaten Sri Lanka economically, say experts. Local experts say Sethusamudram will only accommodate feeder vessels and the […]

Industrial Development Board says micro, small, medium and large scale industries damaged by the December tsunami need a minimum Rs. 1.2 bn to reestablish their businesses.Industrial Development Board says micro, small, medium and large scale industries damaged by the December tsunami need a minimum Rs. 1.2 bn to reestablish their businesses. The findings are part […]

BOI companies will be pulled into the local tax net for the first time from April this year, through the Economic Service Charge (ESC). BOI companies will be pulled into the local tax net for the first time from April this year, through the Economic Service Charge (ESC). “The BOIs were not expected to pay […]

Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports of textiles, diamonds, electrical equipment and building materials took the pressure of the Exchequer.Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports […]

The Western Provincial Council(PC) will decide on Tuesday, March 22, whether to go ahead with the proposed increase in Business Turnover Tax (BTT).The Western Provincial Council(PC) will decide on Tuesday, March 22, whether to go ahead with the proposed increase in Business Turnover Tax (BTT). “The BTT increase was gazetted but until it is approved […]