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New share transaction fees to be effective from next week
June 23, 2017 (LBO) – Sri Lanka’s securities regulator has directed all licensed stock brokers and dealers to comply with the new fee structure which will be effective from 27 June 2017. The CSE proposed adopting a step-up fee structure rather than the present flat fee structure when consolidating transactions for the purpose of computing […]
Sri Lanka should relax issuing licenses for beer & wine: FinMin
June 23, 2017 (LBO) – Sri Lanka’s Finance Minister told Parliament Thursday that the country needs to relax issuing liquor licenses for beer & wine as it may reduce illegal liquor consumption. Minister Mangala Samaraweera said the ministry is now collecting information and is having discussions with the relevant parties with regard to the issue […]
Central Bank holds key rates unchanged, reserves climb
June 23, 2017 (LBO) – Sri Lanka’s central bank held key interest rates unchanged on Friday after a monthly monetary policy meeting with inflation moderating in April and May, and the economy expected to recover in the second half. “Growth in the first quarter was weighed down by the impact of unfavourable weather conditions, particularly […]
Opinion: A Conspiracy Theory – Tread with extreme caution, Sri Lanka
By Chrishmal Warnasuriya Introduction – Politics as the science of attaining “power”: The first lessons taught to any student of the science of politics almost invariably includes a reference to the 16th century Florentine philosopher Machiavelli and his celebrated thesis, “the Prince“; where his principle line of argument revolves on the attainment of “power” as […]
US Ambassador Atul Keshap visits eastern province
U.S. Ambassador Atul Keshap visited the Eastern Province this week to commemorate a milestone in U.S.-supported demining efforts and to attend the groundbreaking ceremony at a school to construct facilities to help communities displaced by natural disasters. During the visit, Ambassador Keshap also met leaders and activists working on post-conflict reconciliation and accountability issues. Ambassador […]
PM to head committee on UNHRC recommendations
June 22, 2017 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe will head a special committee to oversee implementation of United Nations Human Rights Council recommendations agreed on in 2015. “Cabinet approved to appoint a committee of ministers chaired by the Prime Minister Wickremesinghe together with officials to assist the main committee in this regard,” […]
‘s IFC to sell Sri Lanka rupee bonds
June 22, 2017 (LBO) – Sri Lanka’s government has approved a proposal to establish an offshore Sri Lankan Rupee (LKR) Bond Programme by the International Finance Corporation, a statement said. The program is beneficial to Sri Lanka, and the Cabinet Committee on Economic Management has recommended its implementation, the most recently approved cabinet decisions statement […]
Political commitment needed for sustainable tourism: Amaratunga
June 22, 2017 (LBO) – The importance of political commitment for sustainable tourism goals, as well as the tools to measure sustainability, was highlighted during an international tourism conference that commenced in Manila, Philippines Wednesday. Minister of Tourism Development and Christian Religious Affairs John Amaratunga, representing Sri Lanka at the 6th International Conference on Tourism […]
Opinion: Why an anti-Muslim Sri Lankan Buddhist monk is being let off the hook every time
By P.K.Balachandran The anti-Muslim Sri Lankan Buddhist monk, Ven. Galagoda Aththe Gnanasara Thera, General Secretary of the Bodu Bala Sena (BBS), has several serious cases against him relating to hate speech, blasphemy against the Quran, instigation of violence, and contempt of court. And yet, he has been evading arrest for long periods, and when arrested, […]
Sri Lanka inflation slows to 7.1-pct in May 2017
June 22, 2017 (LBO) – Sri Lanka’s inflation according to the National Consumer Price Index (NCPI) was down to 7.1 percent in May 2017 from 8.4 percent in April, the Census and Statistics Department said. The NCPI for all items for the month of May 2017 was 121.8, an increase of 0.8 index points or […]
Sri Lanka to postpone SVAT abolition till end 2017
June 22, 2017 (LBO) – Sri Lanka’s cabinet approval has been granted to postpone the abolition of SVAT system until the end of this year. Accordingly, the SVAT abolition will take effect from 01 January 2018 after the necessary legislation is passed through Parliament. This decision has been taken in order to give sufficient time […]
Sri Lanka to abolish import control fee for tea
June 21, 2017 (LBO) – Sri Lanka’s cabinet nod has been received to abolish the import control license fee for imported tea in line with 2017 budget proposals. There has been a significant debate on the issue of importing cheaper leaves for blending and re-export, over fears of damaging Ceylon Tea brand. Some tea exporters […]