Business earnings to take a hit from Sri Lana’s rising inflation levels
Business earnings to take a hit from rising inflation levels which are projected to accelerate at double digits for the rest of the year, First Capital Research stated. “While 2022…
Sri Lanka’s Distilleries increases liquor Prices
Increase in production costs resulted in all soft and hard liquor prices in Sri Lanka to go up from today midnight, with approximately Rs.100 per bottle of arrack and Rs.10…
Sri Lanka to setup SEZs in Galle, Bandarawela, Ratnapura,Thimbirigasyaya, Fort, Pettah and Kollupitiya
The Urban Development Authority (UDA) has proposed to set up Special Economic Zones (SEZs) in Galle, Bandarawela, Ratnapura city center, Thimbirigasyaya, Fort, Pettah, and Kollupitiya under proposed city development plans. Urban…
Sri Lanka’s Central Bank Removes interest rate caps on forex deposits
The Central Bank of Sri Lanka (CBSL) has removed the interest rate caps imposed on foreign currency deposit products of licensed commercial banks and the National Savings Bank following its…
What Can be Done to Reduce Land Forgery in Sri Lanka?
By Maheswary Sivapragasam (IDN) — As land forgery continues unabated in Sri Lanka, something has to be done to prevent the prevalent rate of land fraud, with legal owners and…
Sri Lanka’s Public Institutions are faced with wastages of Public Fund over occasional ad-hoc decisions of the Board of Directors
The COPE Chairman (Prof.) Charitha Herath stated that decisions taken by the Board of Directors of Public Institutions occasionally, cause chaos when it comes to public money. The Chairman stated…
Sri Lanka sees small dip in forex reserves in Feb
(Reuters)- Sri Lanka’s central bank said foreign currency reserves dropped to $2.31 billion by the end of February, a level that could provide a month’s breather in efforts to lure…
THE WALL OF STRENGTH AGAINST AGGRESSION
By Asanga Abeyagoonasekera 141 of the 193 United Nations member states voted for the UN resolution on Russia’s aggression (thirty-five abstained and five voted against). Almost the entire world has…
Softlogic buys Bangaladesh’s second-biggest retail chain at an undisclosed price
(TBSNews): Sri Lankan conglomerate Softlogic’s retail holdings wing entered into an agreement on Friday to fully acquire Agora, Bangladesh’s first-ever and second-largest supermarket chain, according to public disclosure by the…
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IMF Urges Sri Lanka to implement an ambitious fiscal consolidation program to overcome the economic crisis
The International Monetary Fund (IMF) urges Sri Lanka to implement an ambitious fiscal consolidation that is based on high-quality revenue measures which consist of raising income tax and VAT rates…