Tag: Sri Lanka

Asia’s economic growth rates of as much as 10 percent are causing pollution, stripping forests, depleting fisheries resources and causing other unsustainable environmental losses, a senior United Nations official said. Asia’s economic growth rates of as much as 10 percent are causing pollution, stripping forests, depleting fisheries resources and causing other unsustainable environmental losses, a […]

India’s US $ 400 mn Sethusamudram canal is aimed at improving Indian security and will not threaten Sri Lanka economically, say experts. India’s US $ 400 mn Sethusamudram canal is aimed at improving Indian security and will not threaten Sri Lanka economically, say experts. Local experts say Sethusamudram will only accommodate feeder vessels and the […]

Industrial Development Board says micro, small, medium and large scale industries damaged by the December tsunami need a minimum Rs. 1.2 bn to reestablish their businesses.Industrial Development Board says micro, small, medium and large scale industries damaged by the December tsunami need a minimum Rs. 1.2 bn to reestablish their businesses. The findings are part […]

BOI companies will be pulled into the local tax net for the first time from April this year, through the Economic Service Charge (ESC). BOI companies will be pulled into the local tax net for the first time from April this year, through the Economic Service Charge (ESC). “The BOIs were not expected to pay […]

Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports of textiles, diamonds, electrical equipment and building materials took the pressure of the Exchequer.Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports […]

The Western Provincial Council(PC) will decide on Tuesday, March 22, whether to go ahead with the proposed increase in Business Turnover Tax (BTT).The Western Provincial Council(PC) will decide on Tuesday, March 22, whether to go ahead with the proposed increase in Business Turnover Tax (BTT). “The BTT increase was gazetted but until it is approved […]

Tsunami affected coastal retail sector is bouncing back fast according to a survey by A C Nielsen, an international market information company.Tsunami affected coastal retail sector is bouncing back fast according to a survey by A C Nielsen, an international market information company. But the government’s 100-meter rule is preventing 200 small retail shops from […]

Finance Minister pledged to lower growth in the monetary base, the main instrument in the conduct of Monetary Policy in Sri Lanka, in a letter to the IMF while also asking for help to recover from the Tsunami.Finance Minister pledged to lower growth in the monetary base, the main instrument in the conduct of Monetary […]

A top meeting of donors opened in Manila today to review the progress of tsunami reconstruction, amidst reports that India, Maldives and Sri Lanka still need US$ 1.2 bn in added funding. A top meeting of donors opened in Manila today to review the progress of tsunami reconstruction, amidst reports that India, Maldives and Sri […]

Restructuring the Ceylon Electricity Board (CEB) will reduce cost of electricity production by Rs 2.50, says Finance Minister. Restructuring the Ceylon Electricity Board (CEB) will reduce cost of electricity production by Rs 2.50, says Finance Minister. “Last week we were looking at performance reports of the CEB.If we restructure the CEB we will be able […]

Taxes have driven Sri Lanka’s gold market underground, with only smuggled gold able to hold down prices, say industry sources.Taxes have driven Sri Lanka’s gold market underground, with only smuggled gold able to hold down prices, say industry sources. “There is no official gold in the market,” says Chanaka Ellawela, vice chairman, Sri Lanka Gem […]