Category: Trade
SL explores bilateral trade with Philippines
The Embassy of Sri Lanka in Manila initiated a virtual introductory meeting between the State Trading Corporation of Sri Lanka (STC) and the Philippine International Trading Corporation (PITC) on 13 January 2021 to discuss opportunities for mutually-beneficial trade engagements between Sri Lanka and the Philippines. Ambassador Shobini Gunasekera, in her welcome remarks, enjoined the two […]
Concessionary period for port occupational charges extended up to 07 May
Apr 28, 2020 (LBO) – The Ministry of Ports and Shipping has informed Sri Lanka Ports Authority (SLPA), SAGT and CICT on 27 April 2020 to extend the concessionary period for occupational charges in the Port of Colombo and all commercial ports in Sri Lanka, up to 07 May 2020. Due to the prevailing Covid-19 […]
Sri Lanka missions abroad seek to re-position exports to meet new market conditions
Foreign Secretary Ravinatha Aryasinha has observed that even as the Foreign Ministry was preoccupied with endeavouring to mitigate a multitude of problems faced by Overseas Sri Lankans, it was in parallel also seeking to re-position Sri Lanka’s exports in the context of market conditions that have arisen as a result of the COVID-19 crisis. He […]
VIDEO: Discussion on impact of COVID-19 on Sri Lankan export industry
The Advocata Institute hosted an online discussion featuring Ashroff Omar (CEO, Brandix), Dilhan Fernando (CEO, Dilmah Tea), Romesh David (CEO, SAGT) and Prabhash Subasinghe (Chairman, Sri Lanka Export Development Board), moderated by Murtaza Jafferjee (CEO, JB Securities). The discussion covered the current challenges faced by Sri Lankan businesses and route to recovery, with a special […]
First bunkering ship discharges low sulphur fuel at Hambantota Intl. Port
Apr 08, 2020 (LBO) – Bunkering vessel Mt. Melody docked at the Hambantota International Port (HIP) last week to discharge approximately 25,000 MT of oil into the port’s newly furbished tanks. With the first shipment of Very Low Sulphur Fuel Oil (VLSFO) 380 CST in their tanks, HIP will soon begin bunkering for ships that […]
Women in the workforce and why it matters for Sri Lanka: World Bank
To mark this year’s International Women’s day, we’re discussing how Sri Lanka can benefit from more women joining the workforce and what can be done to improve their job prospects and remain at work. World Bank Country Director for Maldives, Nepal and Sri Lanka Dr. Idah Pswarayi-Riddihough was featured in a “Spotlight Series” interview with […]
COVID-19 outbreak likely to affect Sri Lanka’s economic performance : Central Bank
Mar 05, 2020 (LBO) – The exact impact on the Sri Lankan Economy would depend on the extent of the global spread of the COVID-19 outbreak, its persistence and policy responses of major economies and trading partners, the Central Bank said. “Sri Lanka’s economic links with China could be directly affected as significant volumes of […]
Sri Lanka trade deficit widens in Dec 2019
Feb 18, 2020 (LBO) – The deficit in the trade account widened in December 2019 to US dollars 784 million, from US dollars 701 million in December 2018, led by a decline in exports and a growth in imports on a year-on-year basis, the monthly external report said. However, on a cumulative basis, the trade […]
WHT removal, a progressive step for MSMEs: Colombo Chamber of Commerce
Feb 12, 2020 (LBO) – Removal of withholding tax on salaries, interest, rent, and dividends is a progressive step for Micro, Small and Medium-sized Enterprises (MSMEs) of the country, said the President of Colombo Chamber of Commerce, Saranga Wijeyrathne. Commenting on the decision of the Ministry of Finance to advance the removal of WHT from […]
Manjula de Silva appointed Sec Gen & CEO of Ceylon Chamber of Commerce
Jan 30, 2020 (LBO) – Manjula de Silva will assume duties as the Secretary-General and CEO of the Ceylon Chamber of Commerce, from February 1st, 2020, the chamber announced. He takes over from Dhara Wijayatilake who retires from that position after serving in that capacity since March 2016. De Silva has held several senior positions […]
Sri Lanka SMEs call for deadline extension
Jan 22, 2020 (LBO) – Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) said that the landmark loan moratorium for SMEs offered by the government in December 2019 is on track to revive SMEs but the stipulated reporting deadline is ‘too tight’. “We praise the government for its determined action last December to […]
Inland Revenue Dept. issues the list of VAT registration deactivated persons
Jan 01, 2020 (LBO) – Sri Lanka’s Inland Revenue Department has published the complete list of persons & businesses whose taxable supply has never exceeded 75 million rupees for any taxable period ended prior to 31 December 2019. Such inactivated persons are not permitted to collect VAT on the supplies made on or after today […]