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ECONOMYNEXT –Central Bank Governor Nandalal Weerasinghe urged the public to become informants to broaden the tax net and thus reduce both overall direct and indirect taxes. The government has raised Value Added Tax (VAT), an indirect tax to 18 percent from 15 percent with effect from January 1. The move also will see some VAT […]

Explosives hidden in ‘fly-away-kit’ in cargo hold by Menaka Akshi Fernando “Every May 3, for the past 34 years, like a bunch of anxious surfers, we catch the rising wave of grief, glide on the intensifying emotions for a while and fall back to our senses as the wave of reality breaks. Although words can […]

A new year has dawned, and a nightmare is unfolding for the public. It is a case of the people’s worst fears being realised. The implementation of the enhanced VAT (Value Added Tax) regime has had the same effect as a dam burst, in a manner of speaking. People are struggling to keep their heads […]

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 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 […]

[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 […]

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 ...

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 […]

What has been widely described as the “historic” Supreme Court judgment which by a majority 4-1 decision of a five-judge bench held the Rajapaksa brothers, Mahinda, Gotabaya and Basil and other unelected officials including two past Governors of the Central Bank, a former Secretary to the President, a former Treasury Secretary and some members of […]

OPEC+ producers have agreed to voluntary oil output cuts for the first quarter next year in an attempt to boost the market, but crude prices fell after the move. Saudi Arabia, Russia and other members of OPEC+, who pump more than 40 percent of the world’s oil, met online on Thursday and issued a statement […]

The Emirati president of the United Nations Climate conference in Dubai has denied reports that he has used his role at the negotiations to pursue fossil fuel deals. A day before the talks are due to begin, Sultan al-Jaber, who also is the CEO of the state-run Abu Dhabi National Oil Co (Adnoc

The Mattala Rajapaksa International Airport had incurred a loss of two billion rupees on average between 2017 and 2023, Minister of Ports, Shipping and Aviation Nimal Siripala de Silva told Parliament on Wednesday (29.) “However, the loss has been reduced to about 1.1 billion rupees in 2023,” the Minister said, adding that the airport had […]