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‘Rebuild Sri Lanka’ crowdfunding platform goes live today
The United Nations Development Programme (UNDP) in Sri Lanka led Individual Crowdfunding Facility; ‘Rebuild Sri Lanka’ platform went live today providing the opportunity for global citizens to contribute to alleviating the impacts of the crisis in the country: www.undp.org/srilanka/donate. Sri Lanka is experiencing its worst economic crisis since 1948, with 5.7 million people in need […]
EXPO buying binge continues
September 8, 2022 (LBO) – The parent of Expolanka (EXPO), SG Holdings, continues to scoop up shares in Sri Lanka’s largest market cap company. The previous trading session on Wednesday witnessed foreign buying in the shares of EXPO amounting to approximately Rs2bn. Most of the shares were traded close to market prices at Rs225/share. Although […]
SLIM receives accreditation by CPD – UK
The Sri Lanka Institute of Marketing (SLIM) became an accredited global training provider of “Continuing Professional Development” (CPD) UK. The SLIM Training arm, which has been recognised and endorsed by CPD-UK for accreditation, conducts customised programmes and training on numerous subjects that are not limited to Marketing and Sales for the corporate sector, with a […]
VIDEO: What is the Paris Club?
The Paris Club, comprising 22 wealthy countries, provides a platform for governments facing financial difficulties to reduce and renegotiate their debt repayments. Formed in 1956, it has signed more than 400 agreements to date, worth more than half a trillion dollars to about 100 countries. As public debt soars in the wake of the pandemic, […]
CA Sri Lanka felicitates new Commissioner General of Inland Revenue; inaugurates tax symposium
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently felicitated the newly appointed Commissioner General of Inland Revenue Ranjith Hapuarachchi and inaugurated its first ever tax symposium on the theme “Prudent Tax Policies for Economic Stability.” The event was held in the presence of Sanjaya Bandara, President of CA Sri Lanka, Heshana […]
‘s export earning up 12.9-pct from Jan-Jul
Earnings from exports increased in July 2022, while import expenditure declined for the fifth consecutive month, on a year-on-year basis. The notable decline in import expenditure in July 2022 reflected the impact of overall moderation of activity amidst forex liquidity strains in the banking system, while the policy measures to curtail non-urgent import expenditure also […]
Dialog Enterprise unveils a cutting-edge fuel-monitoring system
Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata PLC, recently unveiled a timely technological solution for monitoring and measuring fuel and energy consumption with precision. Developed in partnership with the University of Moratuwa Research Laboratory and rigorously tested and used on Dialog’s own base stations, the solution was released ahead of schedule to […]
Expolanka parent aggressively buys EXPO shares in the market
September 5, 2022 (LBO) – SG Holdings, the parent company of Sri Lanka’s largest listed company Expolanka, has aggressively bought shares of (EXPO) during the past few days. According to discosures at the Colombo Stock Exchange (CSE), SG holdings has over the last few days bought over Rs1bn worth of shares of EXPO at market […]
Onus on Debt Negotiations after Sri Lanka’s IMF Staff Agreement: Fitch Ratings
The IMF staff-level agreement with Sri Lanka on a USD2.9 billion programme, confirmed on 1 September, appears to signal a sharp change in policy settings in order to achieve macroeconomic stability, including through large fiscal adjustment, greater exchange-rate flexibility and more central bank autonomy, says Fitch Ratings. This should facilitate negotiations with official and private […]
‘s debt restructuring
Japanese Finance Minister Shunichi Suzuki on Friday urged all creditor nations to discuss Sri Lanka’s debt restructuring, the Reuters news agency reported. “It’s important for all creditor nations, including China and India, to gather to discuss Sri Lanka’s debt restructuring,” Suzuki told a news conference. Sri Lanka has reached a preliminary agreement with the IMF […]
Ceylon Chamber congratulates Govt on reaching Staff-level Agreement with IMF
The Ceylon Chamber of Commerce congratulates the Government led by the President, the Governor of the Central Bank of Sri Lanka, Secretary to the Treasury and other key officials on reaching a staff-level agreement with the IMF for a 4-year Extended-Fund Facility program(EFF). We hope that the next steps in gaining IMF board approval for […]
‘s tax reforms: Staff Mission
The IMF-supported reform program will implement major tax reforms in Sri Lanka including making the personal income tax more progressive and broadening the tax base for corporate income tax and VAT. Mission Chief for Sri Lanka, Masahiro Nozaki, said that a wealth tax is being considered as part of more progressive tax reform in which […]