Sri Lanka’s inflation rose to 4.0 percent in December, the third consecutive monthly rise as the cash-strapped nation was set to increase taxes from the New Year.The benchmark Colombo Consumer Price Index jumped by 1.7 points to reach 195.1, or a 4.0 percent increase compared to a year ago when inflation was 57.2 percent. The […]

Education of about 54.9 percent of Sri Lankan students has been affected by the economic crisis since March 2022, the latest Household Survey on Impact of Economic Crisis – 2023 by the Department of Census and Statistics reveals. Out of the respondents surveyed 93.5 percent have adopted at least one strategy to counter the impact […]

The demand for fuel during the current Christmas season had decreased by 50% compared to that in 2022, President of the Fuel Station Owners Association, Kumara Rajapaksa said on Thursday (28). The number of vehicles arriving at gas stations had dropped, and the amount of fuel dispensed

The Ports and Airports Development Levy (PAL) currently imposed on fuel and gas is set to be removed upon implementation of the revised Value Added Tax (VAT).

The Middle East conflagration has been brought very close to South Asia by a suspected drone attack a couple of days back on an Israel-linked chemical tanker headed for India, off the latter’s coast. The attack comes close on the heels of similar reported strikes on international tankers in the Red Sea, which have compelled […]

The Ceylon Petroleum Corporation (CEYPETCO), Lanka Indian Oil Corporation (LIOC) and Sinopec Energy Lanka have been directed to maintain 50% of their relevant fuel stocks, at minimum, at all filling stations.

The Fuel Distributors Association has guaranteed that fuel supply at all filling stations will remain uninterrupted during the festive season.

The Inland Revenue Department yesterday (21) issued the list of goods and services that would be exempted from the enhanced Value Added Tax (VAT) regime that comes into effect from 01 January 2024. The list of items included Wheat and wheat flour; infant milk powder; Pharmaceutical Products and Drugs (other than cosmetics) whose end use […]

Zionism plus impunity: By Bishop Duleep de Chickera When the Secretary General of the UN, condemned the Hamas attack of 7/10 and cautioned the world to see it in context, he came under harsh criticism from Israel. But he was right. It is misleading to enter a conflict in the middle of the story. The […]

products and fuel, have been declared essential services.

[An article based on the Keynote Address delivered by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, recently at the Annual Research Symposium 2023 of the University of Colombo] Introduction Inflation affects every aspect of our lives; it is a force that shapes our purchasing power, influences our financial decisions, and […]

By MEERA SRINIVASAN As Sri Lanka tries to rebuild its battered economy after last year’s devastating crisis, the country’s political scene is gradually heating up, in the run up to two national elections scheduled next year — parliamentary and presidential — that will give citizens their first chance to vote, after they dislodged the Rajapaksas […]

The Cop28 global climate summit has reached a historic deal hailed by the United Nations as Âthe beginning of the end for the fossil fuel eraÂ.

By Shamindra Ferdinando Chairman of the Committee on Ways and Means Patali Champika Ranawaka on Tuesday (12) alleged that the Finance Ministry had allowed the operation of a distillery in spite of that company failing to pay taxes. The former minister said that the country lost millions for want of political will to recover what that company owed […]

Dialog Axiata PLC, announced its partners of the Dialog Innovation Challenge, an initiative to develop scalable, innovative digital solutions. The recent partner induction marks a significant milestone in this national endeavour, fostering collaboration across various sectors. The Information and Communication Technology Agency (ICTA) assumes the role of National Technology Partner, anchoring the ...

How come royalty on foreign players replaced with additional Rs 50 charge on a litre of fuel? by Shamindra Ferdinando Convenor of the Samagi Joint Trade Union Alliance Ananda Palitha yesterday (12) said that the Wickremesinghe-Rajapaksa government was planning to impose VAT on fuel

A methane-powered rocket developed by a private Chinese company has launched three satellites into orbit, a milestone in its mission to test whether the vehicle is ready for commercial liftoffs. The success could boost investor confidence in methane as a potential rocket fuel, which is deemed able

By Ifham Nizam The global technology powerhouse, Lenovo, has seen tremendous growth in Sri Lanka during the last three to four years, said Naveen Kejriwal, General Manager- Overseas Business, Consumer, Commercial & Tablets of Lenovo. Lenovo is a USD 62 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, employing 77,000 people […]

By Rathindra Kuruwita Dissident Sri Lanka Freedom Party (SLFP) MP, Dayasiri Jayasekera, has expressed concern over a potential 50% drop in the revenue of the Ceylon Petroleum Corporation (CPC) due to the entry of foreign companies into the petroleum market. Jayasekera highlighted the adverse impact of the policies of successive governments on the CPC. “The […]

by Harim Peiris As we approach the end of 2023 and with about a year to go for the next presidential election due before end 2024, President Ranil Wickremesinghe’s frequent refrain and indeed the rationale for his administration is the revival of the national economy after it was spectacularly destroyed by his predecessor’s administration, ironically […]