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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 Power Union Announces Strike, Raising Risk of Blackouts

(Reuters) – A power sector union in Sri Lanka said on Wednesday it will go on an indefinite strike from midnight in protest against new government legislation, potentially leading to…

 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…

Sri Lanka’s agripreneurial community makes recommendations for the revival of the agriculture sector ahead of food crisis

There are constant dire warnings of impending food shortages citing many causes and blames onpast actions. While it is useful and wise to be forewarned, the warnings alone will not…

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…

Sri Lanka appeals for farmers to plant more rice as food shortage looms

Sri Lanka wants farmers to plant more rice as part of plans to avert a severe food shortage, a top official said on Tuesday (May 31), as experts warned of…

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.…

DIMO acquires Germany-based EgeSun GmbH’s local subsidiary, Tropical Health Food for Rs.450.08 million

Diesel & Motor Engineering PLC (DMO) acquired a 94.45% stake in Germany-based EgeSun GmbH’s subsidiary, Tropical Health Food (THF) Pvt Limited for Rs.450.08 million yesterday. The owner of EgeSun, Orhan…

USAID Partners with Keells Supermarket to promote competitiveness in Sri Lanka’s MSMEs

The U.S. and Keells are partnering to strengthen small businesses in Sri Lanka through an agreement to connect Keells suppliers with private business advisory service providers. “The small businesses that…