Tag: Sri Lanka

Jan 29, 2015 (LBO) – Sri Lanka Minister of Finance Ravi Karunanayake said that the economy in the island is a sad state and could be restructured though proper mechanism. He said this presenting the interim budget 2015 to the parliament. The main aim of the Government is to revitalise this economy, Ravi Karunanayake, Minister […]

Jan 29, 2015 (LBO) – Sri Lanka’s government to increases monthly salary of the state sector employees’ by 10,000 rupees, Minister of Finance Ravi Karunanayake, presenting a budget for 2015. We hope to grant more concessions to the public than we promised. He also asks the private sector to consider raising pay by 2,500 rupees. […]

Jan 29, 2015 (LBO) – Sri Lanka’s government will give a 15 percent interest rate to deposits of senior citizens in banks of up to one million rupees, Finance Minister Ravi Karunanayake said, presenting the interim budget in the parliament. This will cost an extra 4,900 million rupees to the government. Pensions of state workers […]

Jan 29, 2015 (LBO) – Sri Lanka’s new government will reduce the prices of 13 essential goods by removing of taxes, Minister of Finance Ravi Karunanayake said, presenting an interim budget for 2015. We only promised to reduces prices of 10 goods but we manage to increase into 13 goods due to the economic problems […]

Jan 29, 2015 (LBO) – Sri Lanka will impose a 25 percent ‘super gains tax on companies earning over two billion rupees in net profit, Finance Minister Ravi Karunanayake said, in presenting the interim budget 2015 to the parliament today.He said there are only 35 to 40 companies which have to pay the newly imposed […]

Jan 29, 2015 (LBO) – Sri Lanka will impose a one time tax of one billion rupees on casino owners, Finance Minister Ravi Karunanayake said, in presenting the interim budget 2015 to the parliament today. He said the government expects a 5,000 million rupees of revenue though this tax which will come in to effect […]

Jan 29, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that the government plans to merge the national carrier SriLankan Airlines and the Mihin Lanka budget airline. He said the presenting the interim budget to the parliament today. “This will improve their efficiency and gradually reduce losses.” Karunanayake said. He said, the SriLankan […]

Jan 29, 2015 (LBO) – Sri Lanka’s new government reduced the price of 12.5 Kilogram cylinder of gas by 300 rupees. Finance Minister Ravi Karunanayake announced the new adjustment in presenting the interim budget 2015 to the parliament. He said the price has been reduces as a measure to reduce the cost of living of […]

Jan 27, 2014 (LBO) – Sri Lanka’s central bank held policy interest rates at 6.5 and 8.0 percent taking in to the consideration of remaining low inflation in the island Central Bank said in its monetary policy review of January 2015. The regulator says with tax cut on fuel and other key commodities announced in […]

Jan 26, 2015 (LBO) – Sri Lanka’s exports declined 10.7 percent, to 921million US dollars in November 2014 from a year earlier due to decline in earnings from textiles and garments followed by rubber products ,gems, diamonds and jewellery categorized under industrial exports, the Central bank said. As the growth of imports weighed on the […]

Jan 26, 2015 (LBO) – Sri Lanka’s forex reserves fell to 8.3 billion US dollars in November 2014, down from 8.8 billion US dollars in October, Central Bank data showed. The BOP for the eight months of January to August 2014 recorded a surplus of 2.1 billion US dollars data showed. The bank says the […]

Jan 23, 2015 (LBO) – Sri Lanka’s Cabinet of Ministers has decided no new official vehicles should be purchased, a minister said yesterday. Cabinet spokesman Rajitha Senaratne said it has been decided not to purchase vehicles for the use of President , Prime Minister ,all the Ministers and Deputies and only the vehicles available in […]