Tag: business

A senior police officer was murdered by a mob in northern Sri Lanka Thursday after a barber giving a hair cut was accidentally shot dead, police chief Chandra Fernando said.A senior police officer was murdered by a mob in northern Sri Lanka Thursday after a barber giving a hair cut was accidentally shot dead, police […]

The government announced it will remove VAT on milk foods and gas to reduce the cost of living but increased VAT on other items without announcing it.The government announced it will remove VAT on milk foods and gas to reduce the cost of living but increased VAT on other items without announcing it. “To address […]

The International Red Cross and Red Crescent Society will pump in some US$ 30 mn over two years to set up water treatment and distribution systems in tsunami affected area.The International Red Cross and Red Crescent Society will pump in some US$ 30 mn over two years to set up water treatment and distribution systems […]

The International Monetary Fund on Wednesday urged Sri Lanka to restore the independence of its Central Bank, tighten monetary policy and urged cut backs in fuel subsidies, to maintain economic stability.The International Monetary Fund on Wednesday urged Sri Lanka to restore the independence of its Central Bank, tighten monetary policy and urged cut backs in […]

Value Added Tax or VAT on the government list of luxury items went up from 18 percent to 20 percent from August 1, said the Inland Revenue. Value Added Tax or VAT on the government list of luxury items went up from 18 percent to 20 percent from August 1, said the Inland Revenue. “The […]

OSLO, Aug 1 (AFP) – A leading Norwegian mediator in the ongoing peace process in Sri Lanka said on Monday he would put his mediation work on hold to participate in Norway’s general election campaign next month. OSLO, Aug 1 (AFP) – A leading Norwegian mediator in the ongoing peace process in Sri Lanka said […]

Sri Lanka’s consumer price index rose 12.7 percent in the 12 months to the end of July, accelerating from 11.1 percent rise in June, due to a hike in fuel prices, the Census and Statistics Board said Friday.Sri Lanka’s consumer price index rose 12.7 percent in the 12 months to the end of July, accelerating […]

The Sri Lanka Freedom Party(SLFP) officially announced Prime Minister Mahinda Rajapaksa as the party’s presidential candidate on Thursday.The Sri Lanka Freedom Party(SLFP) officially announced Prime Minister Mahinda Rajapaksa as the party’s presidential candidate on Thursday. The SLFP also announced that Minister of Tourism and Investment Promotions, Anura Bandaranaike, would be Prime Minister in the case […]

Sri Lanka’s ruling party has chosen Prime Minister Mahinda Rajapakse as its candidate for the presidency amid a deepening controversy over when the poll should be held, party sources said Wednesday.Sri Lanka’s ruling party has chosen Prime Minister Mahinda Rajapakse as its candidate for the presidency amid a deepening controversy over when the poll should […]

China’s currency adjustment last week will trickle down to Sri Lankan consumers as another unwelcome price increase, say local businesses. China’s currency adjustment last week will trickle down to Sri Lankan consumers as another unwelcome price increase, say local businesses. “After the re-valuation of the yuan, the prices of Chinese exports increased by 12 percent,” […]

The International Monetary Fund has rapped Sri Lanka for slipping up on fiscal transparency and poor reporting standards, in the latest country report released Tuesday.The International Monetary Fund has rapped Sri Lanka for slipping up on fiscal transparency and poor reporting standards, in the latest country report released Tuesday. While there has been some progress, […]

The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s balance of payments into the black for the first six months of this year, the Central Bank said Monday. The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s […]