Parliament Approves Rs.695 billion Supplementary Estimate
The Supplementary Estimate of Rs. 695 billion presented by Prime Minister Ranil Wickremesinghe in his capacity as the Minister of Finance, was approved yesterday (08) in Parliament without a vote…
Sri Lanka needs $6 billion to keep the country afloat for the next six months
Sri Lanka requires $6 billion during the next six months to keep the country afloat, according to Prime Minister Ranil Wickremesinghe. Over half of the requirements is for fuel and…
The debate on Rs. 695 billion Supplementary Budget is scheduled for the 8th
The debate on the Supplementary Estimate of Rs. 695 billion which is to be presented on the 7th by the Prime Minister, Ranil Wickremesinghe will be taken up for debate…
Crisis-hit Sri Lanka hikes tax rates to maximise govt revenues
(Reuters): Sri Lanka’s government on Tuesday announced a taxation overhaul to maximise revenue amid the country’s crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the…
Arjun Aloysius’ W.M. Mendis & Co Ltd obtained Rs.7B-worth loans from two State Banks by mortgaging the same property
The Committee on Public Enterprises (COPE) recently observed that W.M. Mendis & Co Ltd has obtained loans by mortgaging the same property in Bank of Ceylon (BOC) and People’s Bank.…
Japan Donates US$ 1.5M Worth of Medicines To Sri Lanka through UNICEF
The Government of Japan is giving essential medicines to Sri Lanka through UNICEF to meet the urgent needs of the most vulnerable population as the country grapples with shortages due…
Ceylon Chamber meets Sri Lanka’s Political Leaders to discuss economic and political crises
The Ceylon Chamber of Commerce officials met with the leaders of several key political parties during the last 4 days to discuss the serious economic and political challenges faced by…
JPMorgan backs Sri Lanka bonds on bets that crippling crisis to ease
(Reuters) – U.S. investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks…
Stock Market backslides to the red territory
Colombo Bourse closed in the red zone on Wednesday after consecutive gains during the last three trading sessions as a selling spree emerged, First Capital Research said. Following the long…
Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid
(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…