Home | Financial

Financial

Import duty on vehicles salshed by 50%

The government has slashed Import duty on motor vehicles by 50% and a 15% surcharge on imported goods has also been removed, the Finance Ministry announced a short while ago.

Fitch Affirms Sri Lanka's Hayleys at 'AA-(lka)'; Outlook Stable

Fitch Ratings has today affirmed Sri Lanka's Hayleys PLC's (Hayleys) National Long-term rating at 'AA-(lka)' with a Stable Outlook. ...
Full story

Fitch Assigns 'A-(lka)' to PLC's Proposed Senior Debt

Fitch Ratings Lanka has today assigned a National Long-term rating of 'A-(lka)' to People's Leasing Company Ltd's (PLC) proposed senior unsecured redeemable debentures of up to LKR500m. PLC's National Long-term rating is 'A-(lka)', and the Outlook is Stable. ...
Full story

BOI venture Jiffy Products S. L. signs investment agreement for expansion

The Board of Investment of Sri Lanka granted investment approval to Jiffy Products S. L (JPSL) to expand operations under the BOI. Mr. Jayamapathi Bandaranayake, Chairman / Director General signed the agreement on behalf of the BOI and formally presented the BOI approval to the investors. The company will be investing over US $ 2.5 million for the expansion process. ...
Full story

BOI signs 8 new agreements with more involvement from foreign investors

The Board of Investment of Sri Lanka granted investment approval for 6 ventures to commence operations under the BOI. Mr. Jayamapathi Bandaranayake, Chairman / Director General signed the agreement on behalf of the BOI and formally presented the BOI Certificates of Registration to the investors. The new ventures will invest US $ 6 million and will create 570 employment opportunities....
Full story

India Wants ‘CEPA’ Again

India is interested in having a comprehensive economic partnership agreement (CEPA) with Sri Lanka states ‘The Economic Times’ of India. According to ‘The Economic Times, ’Indian Foreign Secretary Nirupama Rao had raised the issue of reviving CEPA when she met the Lankan leadership during her recent visit to Colombo. ...
Full story

Lalith To Quit Ceylinco Insurance

Dr. Deshmanya Jeewaka Lalith Bhupendra Kotelawala has announced that he would not seek reelction to the Director Board of Ceylinco Insurance PLC. His tenure as director ends on the 28th of this month. ...
Full story

Epic Lanka celebrates 12th Anniversary

Sri Lanka’s most innovative software solutions company Epic Lanka is celebrating their 12th Anniversary during this week. Having started the operations in 1998 with 4 members on board Epic Lanka has now become a regional technology leader in their highly specialized domains of Secure Electronic Payments and Information Systems Security....
Full story

Sri Lanka In Talks With Malaysian Firms On Investment Interest

Sri Lanka via its Board of Investment (BOI) is currently in discussions with several Malayasian firms concerning their interest to invest in diverse fields....
Full story

To Brussels With A Begging Bowl ….

A special delegation of government representatives went to Brussels yesterday (18th) to request for the ‘Development-Generalized System of Preferences’ (GSP) tax relief for 7200 items produced in Sri Lanka including garments. The special delegation includes Secretary to the Foreign Ministry Romesh Jayasinghe, Attorney General Mohan Peiris and Secretary to the Ministry of Finance P.B. Jayasundara. Another delegation visited Brussels in March this year to request for GSP+. ...
Full story
back 1 2 3 4 5 next total: 46 | displaying: 21 - 30
What's new

Economists visiting Sri shocked by Wimal’s actions

Finance Minister and Economic Development Ministry Secretary Dr. P.B. Jayasundera has informed Economic Development Minister Basil Rajapaksa that economists representing international organizations who have arrived in the country to explore the possibilities of granting aid to the country, have been shocked a petrified by NFF Leader and Wimal Weerawansa’s protest outside the UN launched on the 6th, sources from the Finance Ministry said.

New BOI project for economic development in Information Technology sector

The IT/BPO industry in Sri Lanka is witnessing tremendous growth due to the expansion of the global BPO industry. This is further supplemented with the availability of a highly skilled talent pool at a competitive cost to cater to the needs of the industry. Domestic IT adoption is also increasing significantly, driven by the awareness created by the initiatives taken to build IT capacity and competence in rural areas of Sri Lanka. The growth of telecom penetration, increasing use of IT and strong focus on ICT education in schools has also encouraged this growth. The use of technology and outsourcing as a means to reduce cost will continue to drive the growth of IT/BPO sector in Sri Lanka.

Jet awaits govt nod to launch more flights to Colombo

Jet Airways has so far not got official permission to launch additional flights to Colombo, four months after it applied, an airline official said.

The US GSP also at stake

The US government has decided to review the GSP facility extended to 3,400 Sri Lanka exports to the country.

STOP LABOUR RIGHTS VIOLATIONS IN THE APPAREL SECTOR AND COMPLY WITH ILO STANDARDS TO PROTECT US GSP

The US government has accepted a petition to review the US GSP status enjoyed by Sri Lanka.

New BOI projects reflect growing importance of tourism sector in economic development of Sri Lanka.

The Board of Investment promotional strategy will focus mainly on 5 areas during the next five years, which include dairies, tourism and leisure, education, IT/BPO and urban infrastructure development. Since the Tourism sector has the potential of becoming a major contributor in the economic development of the country, the government aims at building up this industry so that it may offer a world standard product.

Fitch Downgrades Sinhaputhra Finance PLC to 'B(lka)'

Fitch Ratings Lanka has today downgraded Sinhaputhra Finance PLC's (SFL) National Long-term rating to 'B(lka)' from 'BB-(lka)'. The Outlook is Negative. Although liquidity pressure faced by the company has waned, Fitch notes the significant increase in the regulatory six-month NPLs and consequent deterioration in the net NPL/equity ratio, and depressed profitability.

FITIS offers ICT Partnership Opportunities

The Federation of IT Industry Sri Lanka popularly known as FITIS offers its members a unique opportunity to create ICT partnerships. In finding new regional partners ICT companies can now join the business exchange and multilateral trade visit programs they offer through their regional body ASSOCIO.

Tri-Star Apparel provides jobs for 400 rehabilitated ex-LTTE cadres

400 ex-LTTE female cadres who received vocational training in rehabilitation centres have received jobs at the Tri-Star Apparel Factory in Alawwa.

GSP Plus benefit will not be extented unconditionaly

The Delegation of the European Union to the Democratic Socialist Republic of Sri Lanka & the Maldives would like to clarify information which has appeared in several press articles related to the ongoing dialogue on GSP plus between the European Commission and the Government of Sri Lanka.
Featured author

Colombo News Desk CND