Tag: Finance

Feb 06, 2015 (LBO) – Sri Lanka’s Port City project would go ahead as the appointed committee to review the project had now found that an Environment Impact Assessment (EIA) had been conducted on the reclamation, Cabinet Spokesman Rajitha Senaratne said. Senarathne said the EIA had been conducted by Sri Lanka’s Moratuwa University. Sri Lanka […]

Feb 06, 2015 (LBO) – Sri Lanka’s new government has wrapped the deal with former IMF Chief Dominique Strauss-Kahn after paying USD 750,000 for being an advisor to set up International Finance Center to attract foreign investors to the island. Cabinet Spokesman Rajitha Senarathne said the Cabinet had decided to terminate the servicers of Khan […]

Feb 05, 2015 (LBO) – Sri Lanka has gained another chance to rebuild the nation with unity and harmony among communities, Sri Lanka’s Prime Minister Ranil Wickramasinghe said in an Independence Day message. Sri Lanka gained independence from British in 04th of February 1948 following a struggle led by the island’s first Prime Minister D […]

Feb 05, 2015 (LBO) – Sri Lanka’s Deputy Policy Planning and Economic Affairs Minister Dr. Harsha de Silva, said that the new government would get the private sector and industry involved for a better economic policy in going forward. This is not necessarily means our policy Going Forward,” Our policy Going Forward will be formulated […]

Feb 05, 2015 (LBO) – Sri Lanka’s Deputy Policy Planning and Economic Affairs Minister Dr. Harsha de Silva, said that the new government would not print money to raise revenue to deliver election promises but would tax selected industries as a revenue generation measure. These must be look at not as individual effects or rather […]

Feb. 05, 2015 (LBO) – Sri Lanka’s Chamber Chief commenting on the slapping taxes on the private sector by the new government, said that not all private sector companies in the Island had ill-gotten gains. In terms of concerns on the budget actually yes, some of the one – off taxes will hurt. But if […]

Feb 02, 2015 (LBO) – Sri Lanka’s Finance Minister said he was ready to pay Mansion Tax even though his house was less than 5000 square feet. He made this comment during a television program on Saturday. My house is about 4800 square feet but I’m ready to pay the tax because I imposed it, […]

Feb 02, 2015 (LBO) – Sri Lanka’s Treasury bill yields were flat on Monday’s auction with the 12-month yield unchanged at 6.05 percent, data from the state debt office showed. 6-month yield was also frozen at 5.90 percent and 1,325 million rupees were accepted from 5,660 million rupees. The debt office offered 12,000 million rupees […]

Jan 31, 2015 (LBO) – Sri Lanka’s Total Debt to Gross Domestic Product (GDP) ratio would increase to 88.9 percent from reported 74.4 percent of the government debt in the end 2014, the Finance Minister has said. According to the provisional data, the outstanding debt of the government as at end 2014 was LKR 7,373 […]

Jan 31, 2015 (LBO) –Sri Lanka inflation increased to 3.2 percent in January 2015 from 2.1 per cent in December 2014, on a year-on year basis, as a result of the increase in food prices, the Central Bank said in a media release. The data is based on the change in the Colombo Consumers’ Price […]

Jan 30, 2015 (LBO) – Sri Lanka’s new government impose an annual license fee of 1.5 million rupees irrespective of the fact whether importers are engaged in importing brand new or used vehicles, Finance Minister said yesterday. However this tax will take away the freedom of individual citizens to import cars and open paths for […]

Jan 30, 2015 (LBO) – Sri Lanka revised the vehicle taxes and cut taxes on the motor cars with engine capacity less than 1,000 cc by 15 percent, Finance Minister said yesterday presenting the mini budget. The changes has been taken place with effect from mid night yesterday. The Minister said that the measure has […]