Sri Lanka shuts only oil refinery to manage forex crisis
By Uditha Jayasinghe (Reuters) – Sri Lanka has temporarily shut its only oil refinery as part of efforts to manage dwindling foreign exchange reserves, the energy minister said on Tuesday, triggering…
Expolanka Survives from 25% surcharge tax proposed in budget 2022
Sri Lanka’s second-largest listed firm, Expolanka Holding PLC will not be subjected to a one-off 25% surcharge tax proposed in budget 2022 given the company’s earnings heavily skewed its overseas…
The United States Delivers $150 Million Funding to Sri Lanka’s DFCC Bank to Support Female-led MSMEs
The United States government disbursed $150 million in financing to DFCC Bank on November 12 to support the sustainable development of Sri Lankan community-based businesses, the U.S Embassy in Colombo announced…
Sri Lanka’s 2021 fiscal deficit forecast revised to 2020 levels; Aim to curtail fiscal deficit to 8.8% of GDP in 2022
Sri Lanka’s government has revised the fiscal deficit projection to 11.1 percent of GDP in 2021 from the original 8.9 percent target with large shortfalls in income tax, Customs Import…
25% one-time income tax on 62 individuals and companies with over Rs. 2 billion turnover proposed in the budget 2022
Sri Lanka’s Government proposed to impose a one-time surcharge tax of 25 percent on 62 individuals and companies with an annual turnover of more than Rs. 2 billion in the…
The Central Bank publishes “Recent Economic Developments: Highlights of 2021 and Prospects for 2022″
The Central Bank of Sri Lanka today published “Recent Economic Developments: Highlights of 2021and Prospects for 2022” online with an overview of the performance of the Sri Lankan economy in…
Sri Lanka Eyes air connectivity for tourism recovery as the Island destination attracted 22,771 tourists in October
Sri Lanka’s tourism officials eyes direct air connectivity for tourism recovery as the Island destination attracted 22,771 tourists in October indicating modest improvement owing to factors such as vaccination advances…
Premium-priced Cinnamon Life’s Condo units moving at a snail’s pace
Pre-sales of John Keells Holdings (JKH)’s Pre-sales of ‘Cinnamon Life’ Residential Towers continue to move at a snail’s pace as of 30th of September this year despite the project nearing…
BPPL Holdings Sets Eyes on a third polyester yarn plant with a brush filament extrusion plant
Buoyant by strong demand for its brush filament and polyester yarn products, Sri Lanka’s leading brush marker, BPPL Holdings PLC is considering installing a third polyester yarn plant with another…
CBSL expects inflation to deviate from its targeted levels
The Central Bank of Sri Lanka expects headline inflation to deviate somewhat from the targeted level of the 4-6 percent range in the near term while continuing to prioritize policy…