Category: Companies
Is the country prepared to harvest the potential dollar income through its rubber industry?
By Emeritus Professor Asoka Nugawela (Department of Plantation Management, Wayamba University of Sri Lanka & Former Director, Rubber Research Institute of Sri Lanka) Sri Lanka earned 930 million US$ from the export of both raw rubber and rubber products in 2023. Out of that the major share, around 900 million US$, came from the export […]
Industry veteran Saifuddin Jafferjee re-elected Chairman of JAAF
The Joint Apparel Association Forum (JAAF) held its 21st Annual General Meeting on 27th January in Colombo. Speaking at the event the reappointed Chairperson, Saifuddin Jafferjee, reflected on the achievements of the past year while emphasizing the work needed to navigate upcoming challenges in the apparel industry. “I am deeply honored to serve this incredible industry […]
Sri Lanka Economic Summit kicks off today
President Anura Kumara Dissanayake will inaugurate the Sri Lanka Economic Summit organised by The Ceylon Chamber of Commerce which opens Tuesday at the Shangri La Hotel, Colombo. President Dissanayake will participate in a Fireside chat on the Government’s vision for sustainable economic progress, with the Deputy Vice Chairman of the Ceylon Chamber Bingumal Thewarathanthri. Day […]
Total exports for December 2024 increased by 9.21-pct compared to 2023
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in December 2024 amounted to US$ 1,042.5 million, reflecting an 4.06% increase compared to December 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut based products, Spices & […]
After A/L? “Meet your lecturer” at NSBM Green University this weekend
NSBM Green University, Sri Lanka’s premier degree-awarding institute, is hosting a special event this weekend for after A/L students to plan their future with the right guidance. NSBM’s “Meet Your Lecturer” Guidance Programme will take place on January 25–26, at its picturesque university premises in Homagama. This special event is designed for after A/L students […]
‘ Ratings on National Scale Revision
Fitch Ratings has upgraded the National Long-Term Ratings of seven Sri Lankan non-financial corporates and revised the ratings of two following the recalibration of the agency’s Sri Lankan National Rating scale to reflect changes in the relative creditworthiness among the country’s issuers. This follows the upgrade of the sovereign’s Long-Term Local-Currency Issuer Default Rating (IDR) […]
JAAF supports ‘Clean Sri Lanka’ initiative to build a cleaner, greener future
The Joint Apparel Association Forum (JAAF), the apex body representing Sri Lanka’s apparel industry, welcomes the launch of the Clean Sri Lanka programme, spearheaded by H. E. President, Anura Kumara Dissanayake, and the government. With sustainability as a core principle, the Sri Lankan apparel sector is uniquely positioned to complement this nationwide movement for environmental, […]
David Pieris Group Launches Northern Entrepreneur Seed Fund
By Jekhan Aruliah I first met Mr David Pieris in 2021. David came for tea at my place in Jaffna on one of his business visits to the North. The David Pieris Motor Company (DPMC) has operated in the North for decades including throughout the Sri Lanka civil war. David told me of his vision […]
CSE Partners with NCDEX to Explore Opportunities in Derivatives & Commodities Trading
The Colombo Stock Exchange (CSE) and the National Commodity and Derivatives Exchange (NCDEX) of India, recently signed a Memorandum of Understanding (MoU) to collaborate and explore the development of derivatives and commodity products in Sri Lanka. This partnership will enhance the product offering and trading instruments at CSE. The collaboration will involve knowledge-sharing initiatives, technological […]
IRD Publishes Procedure for Withholding Tax on Nonresident Payments in Gazette
The Inland Revenue Department (IRD) announced that a notification specifying the procedure for withholding tax on any payment to a nonresident person, under Section 86 (7) of the Inland Revenue Act, No. 24 of 2017, has been published in the official gazette. This notification outlines the detailed steps and requirements for withholding tax on payments […]
VIDEO: Withholding Tax Hike, A System Inefficiency – Tax Experts
In this insightful discussion, tax experts N. R. Gajendran and Suresh Perera analyze how the new reforms will affect the general public and the broader economy. N. R. Gajendran, highlights that while the government has promised to provide relief to individuals who were unfairly taxed, the practical implementation of this promise is fraught with challenges. […]
Sri Lanka Introduces Landmark Food & Beverage Regulations
The Sri Lankan government has announced new restrictions on marketing food and beverages to children, effective January 1, 2025, under the Food (Labelling & Advertising) Regulations 2022. The Ceylon Chamber of Commerce, through its Food & Beverage Steering Committee, was a key partner in shaping these regulations by providing inputs on food science, nutrition, international […]