Category: Trade
Finance Ministry says merchants will pay lower VAT despite hike
Sep 26, 2016 (LBO) – Sri Lanka’s Finance Ministry says retail and wholesale merchants will have to pay a lower VAT payment than expected despite the rate hike from 11 to 15 percent. Under the proposed VAT amendment bill, the VAT will really be charged only on the revenue accumulated on the sale of VAT liable […]
Sri Lanka eyes FTA and increased funding from South Korea
Sept 26, 2016 (LBO) – Sri Lanka is interested in entering into a Free Trade Agreement with South Korea in the future, a senior minister revealed. International Trade Minister Malik Samarawickrama in a recent visit to Korea has conveyed Sri Lanka’s interest on an FTA to Korean Vice Minister of Trade. The Sri Lankan embassy […]
Summit: Office space in Colombo to quadruple with Port City
Sept 21, 2016 (LBO) – Sri Lanka’s capital Colombo office space will quadruple after the completion of the ongoing Port City development project, a Port City official said. Chief Marketing Officer of CHEC Port City Colombo, Liang Thow Ming, said the existing office space inside Colombo city is around 220,000 square meters. He was speaking […]
London Stock Exchange fills 100 tech jobs in Sri Lanka
Sept 19, 2016 (LBO) – London Stock Exchange Group said its Business Services division (LSEG BSL) in Sri Lanka has completed the first stage of its set-up operations, with over 100 tech sector professionals recruited. Set up in May 2016, the new 26,000 sq ft technology centre at Expert City in Maradana, will be manned […]
Sri Lanka vehicle registrations rebound from July lows: JB
Sept 19, 2016 (LBO) – Sri Lanka vehicle registrations saw a rebound in August from the July lows in the categories of small cars, three-wheelers, two-wheelers and mini trucks, JB Securities said. Motor car registrations in August were 3,011 units, up from 2,596 units the previous month, although significantly down from a high of 14,544 […]
Sri Lankan exporters showcase at 13th China Asean Expo
Sep 13, 2016 (LBO) – Twenty five Sri Lankan exporters have represented the island at the 13 CAEXPO (China-ASEAN Expo) in Guangxi, China, as a special guest country. “We believe that Sri Lanka can showcase its products to China in a big way at 13th CAEXPO-more importantly it is an opening to ASEAN importers,” Rishad […]
Sri Lanka to remove barriers for entrepot trade: Finance Minister
Sept 05, 2016 (LBO) – Sri Lanka’s Finance Minister says the government expects more foreign investment that would promote export oriented business inclusive of entrepot trade. Speaking at the ninth session of the Ease of Doing Business forum, Minister Ravi Karunanayake said Sri Lanka wants foreign debt to be replaced by investment which is the […]
Visa opens up branch in Sri Lanka to boost electronic payments
Aug 25, 2016 (LBO) – A global leader in payments technology, Visa today announced the opening of a local office in Colombo and the appointment of Anthony Watson as the Country Manager for Sri Lanka. Visa has been present in Sri Lanka since 1989 and has consolidated its position as a market leader. Speaking at […]
Ceylon Chamber launches TIPS for trade policies
Aug 22, 2016 (LBO) – The Ceylon Chamber of Commerce said it has launched “Trade Intelligence for the Private Sector” (TIPS), a platform to raise awareness on engagement with trade policy. “We recognized that Chamber members and the wider business community are interested in, and concerned about, the implications of trade liberalization and trade agreements […]
Ceylon Chamber calls for private sector input on FTAs
Aug 18, 2016 (LBO) – With the Sri Lankan government working towards a series of Free Trade Agreements (FTAs), the Ceylon Chamber of Commerce has called for companies to submit substantive inputs on trade policy matters. With these inputs the private sector can “strengthen its representations with trade negotiators,” the Ceylon Chamber said in a […]
Sri Lanka vehicle registrations fall further in July: JB Securities
Aug 16, 2016 (LBO) – Sri Lanka vehicle registrations in July fell in almost every category compared with June, JB Securities said in a research note. Buses and heavy truck registrations however showed an increase over the previous month. Motor car registrations in the July were 2,489 units, down from 3,026 units the previous month, […]
China to set up canned fish, gem and jewelry firms in Hambantota
Aug 16, 2016 (LBO) – Chinese firms have shown keen interest in setting up tinned fish, and gem and jewellery enterprises in a proposed special industrial zone close to Sri Lanka’s Hambantota port. “A Sri Lankan delegation led by Prime Minister Ranil Wickremesinghe has held talks with China’s Chongqing Foreign Trade and Economic Cooperation Company […]