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The visit of President Ranil Wickremesinghe to India has significance in a number of spheres from development to strategic partnership with Sri Lanka’s immediate neighbor. As India tries to move forward with stalled initiatives with its crisis-hit neighbour, Sri Lanka is keen on discussing energy, power and port projects according to Foreign Minister Ali Sabry. […]
Second Reading of the Central Bank of Sri Lanka Bill scheduled for the 20 th Committee Stage of the Anti-Corruption Bill scheduled for the 19 th
By Shyam Nuwan Ganewatta The IMF in 2020 told nations around the world that they should maintain a budget deficit to tackle the effects of COVID-19, however, two years later, the IMF insists that this would lead to chaos, Dr. Howard Nicholas, senior lecturer at Erasmus University – Rotterdam, and International Institute of Social Studies […]
Sri Lanka Government has spent Rs. 144 billion on welfare benefits last year and as per the agreements with the IMF and World Bank Sri Lanka had agreed to spend a minimum of Rs. 187 billion annually on welfare benefits, State Minister of Finance Shehan Semasinghe said.The post Sri Lanka Government has increased provisions spent on welfare benefits this year – State Minister of Finance appear...
There were about 105,000 registered limited liability companies in the country, but 82 percent of the tax revenue came from only 382 such firms, Chair of the Sectoral Oversight Committee on National Economic and Physical Plans Mahindananda Aluthgamage said. Referring to personnel income tax files, Aluthgamage said that though there were 500,000 personal income tax […]
By Hiran H.Senewiratne Almas Holdings, a leading business entity in Sri Lanka, will be listed in the CSE in the near future to raise Rs 3-4 billion capital to expand its operations, Group chairman Imtiaz Buhardeen said. “Bank interest rates at one time were above 30 percent. Now they are showing a declining trend, which […]
The government has spent Rs. 144 billion on welfare benefits last year and as per the agreements with the IMF and World Bank Sri Lanka had agreed to spend a minimum of Rs. 187 billion annually on welfare benefits State Minister of Finance Shehan Semasinghe said. He added that the government expects to spend Rs. […]
Chamari Athapaththu smashed an unbeaten 80 off just 47 balls as Sri Lanka hunted down 141 in the third T20I against New Zealand with all ten wickets and 33 balls in the bank. It was a consolation victory for the hosts, who had already lost the first two matches of the series. New Zealand ended […]
Union Assurance, the #1 Bancassurance provider in Sri Lanka, recently hosted the Bancassurance Super League 2023, a dynamic event aimed at improving employee engagement and nurturing a positive workplace culture that promotes camaraderie and fun. The event, held at the Thurstan College Cricket Grounds on June 10th, saw energetic participation from the teams representing all […]
The Sri Lankan Rupee (LKR) has depreciated against the US dollar (USD) today (July 11), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee depreciates against U.S. Dollar on July 11, 2023 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post The International Priority To Be Heeded appeared first on Colombo Telegraph.
The Monetary Board of the Central Bank of Sri Lanka has decided against renewing the money changing permits of 15 Money Changers (MCs) for the year 2023 due to the non-compliance with a condition of the permits issued for the year 2022, which was communicated to the respective MCs on 22.02.2023. The 15 private MCs […]
By Dr. C. S. Weeraratna (csweera@sltnet.lk) Poverty is a condition characterized by severe deprivation of basic human needs, such as food, shelter, safe drinking water, sanitation facilities, health, and education. Various criteria are used to measure poverty. The most commonly used is based on incomes. A person is considered poor if his or her income level […]
The Sri Lankan Rupee (LKR) has depreciated against the US dollar (USD) today (July 10), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee depreciates against U.S. Dollar on July 10, 2023 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Central Bank of Sri Lanka has decided not to renew the money changing permits for Salaka and 14 others, for the year 2023. Issuing a statement, the Monetary Board of the Central Bank of Sri Lanka said that it has decided not to renew the money changing permits of 15 money changers for the […]
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided not to renew the money changing permits of 15 money changers (MCs) in the country for the year 2023.
The Small Medium Enterprise (SME) sector is a key driver for change of inclusive economic growth, regional development, employment generation and poverty reduction and is the backbone of the economy in Sri Lanka. Supporting this National agenda for the development of the sector, for over 25 years, Union Bank has provided its services to uplift […]
[…]The post The Misunderstood Taxation Of EPF & Other Superannuation Funds appeared first on Colombo Telegraph.
Expressing his gratitude to “trustworthy friend” India for saving Sri Lanka and preventing a “bloodbath” during its unprecedented economic crisis last year, Parliament Speaker Mahinda Yapa Abeywardena has said that not a single nation has extended that kind of assistance to Colombo as done by New Delhi.The post Sri Lanka’s Speaker thanks India, Indian Prime Minister Modi for help during fina...
The time period given to former Sri Lanka President Maithripala Sirisena and other accused persons to pay compensation to the victims of the 2019 Easter Sunday terror attacks expires on Wednesday (July 12, 2023).The post Easter Sunday Attacks: Compensation deadline given to Maithripala and others expires on July 12, 2023 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
As Sri Lanka embarks on debt restructuring negotiations with key lenders in parallel to the International Monetary Fund (IMF) initiatives, it is useful to consider China’s importance as one of Sri Lanka’s top lenders. China has so far not joined the common platform of negotiators on Sri Lanka’s debt restructuring, though it has joined as […]
Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]
By NESHELLA PERERA ECONOMYNEXT –Sri Lankan citizens aged more than 18 years will have to open tax files because they chose the country’s leaders by voting, which influence country’s policies, State Minister of Higher Education Minister Suren Raghavan said. After the sovereign debt crisis hit island nation signed a $3 billion deal with the International Monetary […]
When the five days long stretch of holidays ended last week and the Colombo bourse reopened for trading on Tuesday, the market surged 6.71 percent (633.69 points up) on the broad All Share Price Index (ASPI) while the Standard and Poor SL 20 index covering the 20 largest and more liquid companies quoted on the […]
Thilo W. Hoffmann biography S. A. I. Elapatha Forty years ago, a young man with a Master’s Degree in Agriculture in his pocket, set out for Sri Lanka to be employed in a well established and reputable foreign Company of the same nationality as his. Born in 1922, the son of a well known paediatrician […]
By SHIHAR ANEEZ ECONOMYNEXT –Sri Lanka will discuss its bilateral debt restructuring process separately with China, but Beijing will be treated equally as the other bilateral lenders, the island nation’s Foreign Minister Ali Sabry said. Sri Lanka has already started negotiations with its bilateral lenders through Paris Club members and non-Paris Club members. China, however, has […]
The man charged with clawing Sri Lanka out of bankruptcy says he had warned about economic calamity years before it hit and was pressed into retirement for his troubles.The post ‘No second chance’ to save Sri Lanka, central banker warns appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the island nation, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s chairman-cum-managing director M. Senthilnathan said.The post India to allow Sri Lanka to repay debt over 12 years appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Sri Lankan Rupee (LKR) has appreciated against the US dollar (USD) today (July 06), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee appreciates against U.S. Dollar on July 06, 2023 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Sri Lankan Government intends to restructure the Ceylon Electricity Board (CEB) by September 2023, instead of running all the related entities under one institution and will run all related entities separately, Minister of Power and Energy Kanchana Wijesekera said.The post Ceylon Electricity Board restructuring by September – Power sector entities to be run separately appeared first on O...