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Ravi K warns companies not paying bonuses due to Super Gains Tax
Oct 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake told Parliament Tuesday that the government is in search for big companies that are not paying bonus payments to employees. “I was disappointed with some of the companies that pretended to be paying Super Gains Tax and stop certain payments,” he said.“There is no […]
Finance Minister introduces optional plan for banks to pay Super Gains Tax
Oct 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake revealed in Parliament on Tuesday that an optional plan has been introduced for banks to pay super gains tax. “Instead of banks paying (the tax directly) we are giving the opportunity back to them,” Karunanayake said. “So instead of paying 1 billion we call […]
Udalagama, Paranagama commission reports tabled in Parliament
Oct 20, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremasinghe on Tuesday said the government is tabling the Udalagma and Paranagama Commission Reports before Parliament. These commissions were appointed in 2006 and 2013 to probe several murder incidents and missing persons during the war. The Commission appointed in 2006 was named as Udalagama Commission while […]
Workshop held on Organic Agro Crops for Export
The full day workshop organized by TJ Associates on “Cultivation and Processing of Organic Agro Crops for Export “ concluded successfully on October 14, 2015 at Hilton Colombo Residencies attended by over 70 participants Mrs. Chandani Dias Abeygunawardene, Vice President – Projects was instrumental in organizing the workshop and conducting it with expertise gathered while […]
Sri Lanka BOI chief says land policy for foreigners will be corrected
Oct 20, 2015 (LBO) – Sri Lanka’s Board of Investment says that the new administration will correct the land policy for foreigners which will help to bring more foreign direct investments into the country. “This has to be corrected and it will be corrected,” Upul Jayasuriya, Chairman of Board of Investment said. “You have to treat […]
PTL Watch: Local and foreign buying in 2-year, 3-year bonds
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Alibaba founder Jack Ma appointed business adviser to David Cameron
Oct 20, 2015 (LBO) – China’s business tycoon Alibaba founder Jack Ma, has been appointed as the adviser to British Prime Minister David Cameron, Cameron’s spokeswoman said. “Ma will provide particular help and advice on how to get small- and medium-sized British businesses boosting their exports and in particular accessing Chinese markets through platforms like […]
Central Bank holds key interest rates unchanged
Oct 20, 2015 (LBO) – Sri Lanka’s Central Bank held key interest rates unchanged on Tuesday after a monthly monetary policy announcement citing low inflation, a decision broadly expected by market participants. A poll by Lanka Business Online of 13 market participants showed 12 expected no change in policy interest rates, while one expected a […]
Germany’s Bosch commences operations in Sri Lanka, eyes construction boom
Oct 20, 2015 (LBO) – Bosch, a leading German supplier of technology and services, commenced operations in Sri Lanka to meet the increasing demand seen in the infrastructure sector, a senior official said. “The inauguration of our new office marks an important milestone for our business expansion in the South Asian region,” Steffen Berns, managing […]
Sri Lanka’s budget deficit around 6.8-pct in 2015: Finance Minister
Oct 20, 2015 (LBO) – Sri Lanka’s budget deficit will be around 6.8 percent of GDP for this year, higher than the budgeted 4.4 percent, Finance Minister Ravi Karunanayake said. The IMF mission concluding its visit to Sri Lanka last month said it projects a budget deficit of 5.5 to 6 percent of GDP in […]
‘s Upul Jayasuriya
Oct 19, 2015 (LBO) – Sri Lanka has five billion US dollar worth of investments in the pipeline and the main goal of the island’s investment promotion office is to facilitate those investments, the Board of Investment (BOI) Chief told a forum held in Colombo. “Our main goal is to facilitate these investments,” Upul Jayasuriya, […]
Sri Lanka to increase maximum Treasury bill limit by Rs400bn tomorrow
Oct 19, 2015 (LBO) – Sri Lanka’s Finance Ministry is to present a resolution in parliament tomorrow to increase the current Treasury bill limit by 400 billion rupees. The cabinet approved the proposal last month to increase the limit from 850 billion rupees to 1,250 billion rupees. The parliament earlier approved that the maximum borrowing […]