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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 […]
- Bank Boss (Category: Business)
- Bank Issue (Category: Business)
- Union Status (Category: Business)
- Small Stature (Category: Business)
[…]The post The Misunderstood Taxation Of EPF & Other Superannuation Funds appeared first on Colombo Telegraph.
- The Apologetic Custodian Of The EPF Is Also A Victim (Category: Breaking News)
- Economy 2024: More Challenging Than The Two Previous Years (Category: Breaking News)
- EPF asked to pay 30% tax unless it participates in domestic debt restructuring process (Category: Breaking News)
- Central Bank informs EPF members: “decided to opt for” DDO (Category: Breaking News)
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...
- India will continue developmental assistance to Sri Lanka in every possible area: Jaishankar (Category: Breaking News)
- Gotabaya Rajapaksa officially resigns as President of Sri Lanka (Category: Breaking News)
- Sri Lanka s Speaker thanks India, PM Modi for help during financial crisis (Category: Breaking News)
- Out, then not out; Sri Lanka Speaker retracts his own statement on president’s whereabouts (Category: Breaking News)
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.
- Easter Sunday Attacks: Maithripala Sirisena pays Rs. 15 million compensation, seeking further ti... (Category: Breaking News)
- Easter attacks- Time given to Maithripala and others to pay compensation ends next week (Category: Breaking News)
- Supreme Court orders Maithripala Sirisena and 3 others to declare their assets (Category: Breaking News)
- Easter Sunday Attacks: Supreme Court orders Maithripala Sirisena to pay Rs.100 Million as compen... (Category: Breaking News)
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 […]
- Sri Lanka completes debt restructuring talks with Japan (Category: Breaking News)
- Sri Lanka has miles to go for IMF debt relief and salvaging the payments crisis (Category: Breaking News)
- Some creditors want to restructure Sri Lanka’s debt without China (Category: Breaking News)
- President urges China to change tune on debt (Category: Breaking News)
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 […]
- Brazil’s President vows to punish rioters who stormed Congress (Category: Breaking News)
- Mass arrests in Brazil as President condemns ‘terrorist’ riots (Category: Breaking News)
- Pakistan’s Supreme Court rules Imran Khan arrest was illegal (Category: Breaking News)
- A divided Japan bids farewell to its slain ex-PM (Category: Breaking News)
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 […]
- VAT 18% from next year (Category: Breaking News)
- State Minister clarifies concerns on recent gazette for IRD registration (Category: Breaking News)
- One-month grace period for acquiring property without opening tax files (Category: Breaking News)
- New property tax to be introduced in 2025 (Category: Breaking News)
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 […]
- Manning Market closed until further notice (Category: Breaking News)
- Stock market ends on a positive note (Category: Breaking News)
- Stock market closed for the day as S P SL20 falls (Category: Breaking News)
- Man killed in shooting incident at Manning Market (Category: Breaking News)
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 […]
- Rs. 200,000 from US Ambassador’s Ball to Sri Lanka Wildlife Conservation Society (Category: Business)
- Urgent call for action to save Sri Lanka’s floral diversity from extinction (Category: Breaking News)
- SLPP politicians’ son, nephew led-group wreaked havoc in Yala (Category: Breaking News)
- Outdoor Environmental Education Program open for sign-up (Category: Breaking News)
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 […]
- China asked to share debt terms to facilitate overall process (Category: Breaking News)
- Lanka debt talks with India, China, Japan helped by investment projects: President (Category: Breaking News)
- Paris Club OK but ‘adequate assurances’ yet needed from others: IMF (Category: Breaking News)
- President reveals talks with Country’s private creditors on outstanding debt (Category: Breaking News)
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.
- CBSL Governor refuses to resign over pay hike issue (Category: Breaking News)
- CBSL chief s special statement on domestic debt restructuring process (Category: Breaking News)
- Sri Lanka’s Central Bank Governor asks critics to provide alternatives (Category: Breaking News)
- Sri Lanka faces shutdown without stable govt- CBSL governor warns (Category: Breaking News)
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.
- Sri Lanka given more time to repay Bangladesh’s $200 Million loan (Category: Breaking News)
- Sri Lanka trying to reduce overall debt by $17 Billion, president says (Category: Breaking News)
- India to allow Sri Lanka to repay debt over 12 years (Category: Breaking News)
- China’s EXIM bank offers Sri Lanka debt extension – report (Category: Breaking News)
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.
- Sri Lankan Rupee depreciates against U.S. Dollar on July 18, 2023 (Category: Breaking News)
- Sri Lankan Rupee depreciates against U.S. Dollar on July 11, 2023 (Category: Breaking News)
- Sri Lankan Rupee depreciates against U.S. Dollar on July 17, 2023 (Category: Breaking News)
- Sri Lankan Rupee depreciates against U.S. Dollar on July 26, 2023 (Category: Breaking News)
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...
- ‘CEB restructuring by September; power sector entities to be run separately’ (Category: Breaking News)
- New Electricity Act in final stage of drafting - Kanchana (Category: Breaking News)
- Two units of Uma Oya Hydro Power Plant to be added to national grid (Category: Breaking News)
- Int l development agencies communicate support to restructure CEB (Category: Breaking News)
Fitch Ratings has downgraded Sri Lanka's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on local-currency bonds have also been downgraded to 'C' from 'CC'.The post Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘C’ appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
- Fitch downgrades Sri Lanka (Category: Breaking News)
- Fitch Downgrades Sri Lanka s Long-Term Local-Currency IDR to C (Category: Breaking News)
- Fitch downgrades SL’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
A year after angry Sri Lankans stormed the president's residence and forced his ouster during a meltdown of the economy, the island's streets are calm, there are no serpentine queues at fuel stations and hours-long power cuts have ended.The post Analysis: A year later, Sri Lanka’s tentative economic recovery eludes the poor appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top S...
- Sri Lanka cabinet approves new electricity tariff without saying what it is (Category: Breaking News)
- Japan to support Sri Lanka’s debt restructuring negotiations (Category: Breaking News)
- IMF team in Colombo this week for first review of Extended Fund Facility (Category: Breaking News)
- Sri Lanka sees forex reserves exceeding $4 billion after fresh funding (Category: Breaking News)
Debt-ridden Sri Lanka may need to cut interest rates again to further boost growth in its economy, according to the head of its central bank.
Sri Lanka s workers remittances in the month of June 2023 were recorded at USD 475.7 million, according to the latest figures from the Central Bank of Sri Lanka (CBSL).
India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the country, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s Chairman-cum-Managing Director M. Senthilnathan said. Sri Lanka, facing its worst economic and political crisis in over seven decades, owes $7.1 billion to bilateral creditors— $3 […]
- India starts debt-restructuring talks with Sri Lanka (Category: Breaking News)
- India provided nearly $4 billion in food, financial assistance to Sri Lanka (Category: Breaking News)
- India to invest more in Sri Lanka after crisis support of $3.8 Bn (Category: Breaking News)
- Sri Lanka thanks India for giving assurances to IMF for USD 2.9B bailout package (Category: Breaking News)
Sri Lanka’s proposed government debt restructuring plan should reduce funding and liquidity risk for non-bank financial institutions (NBFIs), Fitch Ratings said, issuing a press release on Friday. It said that Sri Lankan government’s debt restructuring plan avoids direct impact on the local-currency government debt holdings of NBFIs and commercial banks, easing uncertainty over the entities’ [R...
- Sri Lanka s govt debt plan tempers funding risk for NBFIs - Fitch (Category: Breaking News)
- Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘CC’ (Category: Breaking News)
- Sri Lanka s debt restructuring to ease insurers investment, liquidity pressures - Fitch (Category: Breaking News)
- Fitch warns of risks in Sri Lanka’s domestic debt restructuring plan (Category: Breaking News)
The Asian Infrastructure Investment Bank (AIIB) has expressed the ability to finance USD 220 million for project development, and the development of transmission and grids in Sri Lanka.
Sri Lanka s proposed government debt restructuring plan should reduce funding and liquidity risk for non-bank financial institutions (NBFIs), says Fitch Ratings.
The Monetary Board of the Central Bank has decided to reduce the Standing Deposit Facility Rate and the Standing Lending Facility Rate by 200 basis points to 11.00 percent and 12.00 percent respectively.The Central Bank said it took this decision at the monetary board meeting conducted on Wednesday. The board arrived at this decision following […]
- CBSL to maintain ‘dovish monetary policy in view of economic stabilization’ (Category: Breaking News)
- High interest rates have prevented contraction of economy – CBSL Governor (Category: Breaking News)
- Policy interest rates reduced to enable economy to reach its true potential – CBSL Governor (Category: Breaking News)
- ‘SL’s inflation reduced to single digit levels in 2023 along with restoration of price stability’ (Category: Breaking News)
Fitch Ratings on Wednesday downgraded Sri Lanka’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘C’ from ‘CC’.It said the issue ratings on local-currency bonds had also been downgraded to ‘C’ from ‘CC’. Fitch also affirmed the Long-Term Foreign-Currency (LTFC) IDR at ‘RD’ (Restricted Default) and the Country Ceiling...
- Fitch Upgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘CCC-‘ (Category: Breaking News)
- Fitch Rates Sri Lanka’s Upcoming Bond ‘BB-(exp)’ (Category: Breaking News)
- Fitch Downgrades Sri Lanka to ‘CCC’ (Category: Breaking News)
- Fitch Downgrades Sri Lanka to ‘CCC’ (Category: Breaking News)
By Rathindra Kuruwita Unless Sri Lanka addressed its governance issues, the country would have to restructure its debt again like most countries that had unsustainable levels of corruption, Executive Director of Verité Research Nishan de Mel said in a recent televised interview. Dr. De Mel said that as the government had decided to pay the […]
- Domestic debt restructuring: Harsha insists money belonging to EPF members must be safeguarded (Category: Breaking News)
- Govt. borrowing costs drop as Treasury bill auction interest rates take big dip (Category: Breaking News)
- JVP asks why govt. so secretive about ‘domestic debt optimisation’ (Category: Breaking News)
- Central Bank informs EPF members: “decided to opt for” DDO (Category: Breaking News)
The Sri Lanka Banks’ Association has emphasized that by optimizing domestic debt, the hard-earned funds of the working people in the country will be safeguarded from potential losses. During an interview on the ‘101 Katha’ program,produced by the Presidential Media Division, Russel Fonseka, the Chief Executive Officer of the Bank of Ceylon and a member […]
The Central Bank of Sri Lanka (CBSL) says inflation is expected to come down to a level of 7% in July 2023.
Sri Lanka s gross official reserves is estimated at around US dollars 3.5 billion as at end of June 2023, including the swap facility from the People s Bank of China, according to the Central Bank of Sri Lanka (CBSL).
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 200 basis points (bps) to 11.00 per cent and 12.00 per cent, respectively.
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