Category: Industry
‘s Finance Minister raises taxes on small vehicles
Aug 01, 2018 (LBO) – Sri Lanka’s Finance Minister has signed the gazette notification to amend the excise duties of vehicles below 1000cc category with effect from 01 August 2018, the Finance Ministry said.Accordingly, a unit tax of 1.5 million rupees will be taxed for a motor car below 1000cc while a unit tax of 1.25 million rupees will […]
Ranatunga, de Silva deny match-fixing charges
Jul 31, 2018 (LBO) – Sri Lanka’s World Cup winning captain Arjuna Ranatunga and deputy Aravinda de Silva denied allegations made by former Cricket chief Thilanga Sumathipala that they accepted bribes from an Indian bookmaker. “Not 15,000 dollars, but we could have made 15 million dollars if we threw the world cup,” the 1996 World […]
Sri Lanka inflation up 5.4-pct in July
Aug 01, 2018 (LBO) – The year on year inflation as measured by CCPI is 5.4 percent in July 2018 while inflation calculated for June was 4.4 percent, data shows. The CCPI for all items for the month of July 2018 was 125.8 and it records an increase of 0.4 index points that is 0.29 percentage […]
Sri Lanka vehicle population grew by 7-pct in 2017; import expenditure up 5-pct
July 31, 2018 (LBO) – Sri Lanka’s motor vehicle population grew by 7 percent to 7.2 million in last year with import expenditure on motor vehicles also showing 5 percent growth, the annual report on the country’s motor vehicle market published by the Ceylon Chamber showed. According to the report, the year 2017 saw a […]
Sri Lanka launch tourist-friendly Tuk Tuk service
Jul 31, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe launched the country’s first ever tourist-friendly Tuk Tuk service at Galle Face Green, Monday. The project is implemented under the Budget proposals presented by Finance and Media Minister Mangala Samaraweera for the year 2018. Ministers Mangala Samaraweera, Japanese Ambassador in Sri Lanka Kenichi Suganuma, […]
Damro’s opens Rs 12.5Bn Marino Mall and hotel in Colombo
Jul 31, 2018 (LBO) – Damro Group opened the 12.5 billion rupee Marino Mall and Beach Hotel in Colombo 3, adding 289 star class rooms to Colombo’s hotel inventory, Monday. “We have invested over Rs 12.5 billion to build and open this hotel with 289 rooms including two suites,” Damitha Ramanayake, chairman and founder of Damro Group […]
SriLankan Airlines completes acquisition of its final Airbus Neo aircraft
July 30, 2018 (LBO) – SriLankan Airlines on Monday welcomed its newest and final addition to the Airbus A321 Neo fleet.SriLankan Airlines said the aircraft arrived from Hamburg via Abu Dhabi on 29 July 2018. Religious observances were held this morning at the engineering A320 hangar in Katunayake to bestow blessings on the new aircraft […]
Mastercard launches Simplify Commerce to accept e-payments regardless of payment brand
Mastercard announced the launch of Simplify Commerce, a simple and secure platform that makes it easier for businesses to accept electronic payments, regardless of a payment brand, in Sri Lanka.This feature rich element of Mastercard Payment Gateway Services is now available to acquiring banks and non-banking financial institutions as well as their small-to-midsize merchant customers […]
Bathiya and Santhush appointed brand ambassadors for Sony audio products in Sri Lanka
Singer (Sri Lanka) PLC, the country’s premier consumer durables retailer, together with Sony International, has appointed Sri Lanka’s leading musical duo Bathiya and Santhush (BNS) as brand ambassadors for Sony audio products in the country. The official MoU was signed between Kumar Samarasinghe – Marketing Director, Mahesh Wijewardene – COO, Piyum Jayatilaka – Senior Marketing […]
‘s DFCC Bank bottom line
July 30, 2018 (LBO) – Sri Lanka’s DFCC Bank, the banking arm of the DFCC Group reported a drop in profit for the second quarter amidst a challenging business environment. The drop in profit was due to higher impairment provisions, as well as a one-off gain from the disposal of shares of Commercial Bank during […]
”’ 2018 list
Jul 30, 2018 (LBO) – Sri Lanka’s Union Assurance PLC, a life insurance provider has made it to Forbes Asia’s 2018 list of ‘Best under a Billion ‘ list of the top 200 publicly listed companies in the Asia-Pacific region. The list name 200 public companies in the Asia Pacific region with annual revenue between US […]
Opinion: Understanding the Sri Lanka-Singapore FTA
By: Ganeshan Wignaraja and Amitendu Palit July 28, 2018 (LBO) – While the global trade war threatens to disrupt the momentum of global trade and the prospects of global economic growth, encouraging signs of commitment to trade are visible elsewhere. Countries across the world continue to remain committed to free trade notwithstanding anxieties over the […]