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Sri Lanka to host upcoming Asia Pacific Retailers Conference and Exhibition 2024
The Sri Lanka Retailers Association (SLRA), which serves as the foremost organization for organized retail in Sri Lanka, recently played host to the eagerly awaited Federation of Asia- Pacific Retailers Association (FAPRA) Head of Delegations Meeting. This significant event took place at the prestigious Cinnamon Grand Colombo. A pivotal point of discussion during the FAPRA […]
Cinnamon hotels and resorts to host celebrity Chef Gary Mehigan in Sri Lanka
Gary Mehigan, the renowned British-Australian Michelin Star celebrity chef and much-famed former original judge of MasterChef Australia, is gracing the shores of Sri Lanka for a special 3-day culinary extravaganza courtesy of Cinnamon Hotels & Resorts. From November 30 to December 2, 2023, food enthusiasts and connoisseurs will have the opportunity to savour the magic […]
Government urged to crack down on tax evaders instead of taxpayers: Harsha
In a press conference held yesterday, MP Harsha de Silva, Chairman of the Committee on Public Finance, shed light on the government’s tax collection efforts, revealing significant shortfalls in expected revenue. His comments have ignited a debate on the fairness of the current tax collection system and whether the government should prioritize collecting taxes from […]
Focus on Including Private Sector Proposals for Building the Economy in the Budget
President Ranil Wickremesinghe has announced his intention to prioritize the inclusion of proposals from the private sector in this year’s budget and to separately examine related areas. He made these statements while attending a 2024 pre-budget -discussion held at the Presidential Secretariat yesterday (01) with the leaders of private sector institutions. During the meeting, the […]
Ceylon Chamber Advocates for a Balanced Fiscal Approach Over Proposed VAT rate hike
The Ceylon Chamber of Commerce raises concerns regarding the proposed increase of the Value Added Tax (VAT) to 18%. While recognising the government’s commitment to revenue enhancement in alignment with International Monetary Fund obligations, it’s imperative to evaluate the broader economic ramifications of such a decision. The current economic landscape, characterized by escalating income taxes, […]
Sujeewa Lal Dahanayake elected as President-Elect at OPA AGM
Attorney-al-Law Sujeewa Lal Dahanayake was elected as the President-Elect at the Organization of Professional Associations (OPA) at the Annual General Meeting which was held on the 27th of October, 2023. Dahanayake, who was General Secretary over the past year, has served in various capacities at the OPA over the last 10 years. Founded in 1975, […]
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III compliant subordinated debentures of up to LKR12 billion a final National Long-Term Rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 11 August 2023 and follows the receipt of documents conforming to […]
Sri Lanka’s Mobile Network Performance Lags Behind in South Asia: Analysis
In a recent analysis by Opensignal, which examined the mobile network experiences of smartphone users across the six most populated countries in South Asia, Sri Lanka’s performance was found to be lacking compared to its regional counterparts. The study, which included Afghanistan, Bangladesh, India, Nepal, Pakistan, and Sri Lanka, revealed significant disparities across the region. […]
PUCSL electricity tariff revision discriminatory: Advocata
Electricity tariff design must meet two main objectives: firstly, raising the money needed to pay for the costs of provision, and secondly, sending the right economic signals to each customer to favour the optimal socio-economic use of electricity. To achieve the above objectives the principles that must be followed when designing tariffs are; Economic sustainability […]
‘s real estate market trends
In a significant stride towards fostering transparency and informed decision-making within South Asia’s real estate landscape, the Research Intelligence Unit (RIUNIT) unveiled a series of reports during the 8th Islamic Finance Forum of South Asia, held on recently at the Shangri-La hotel in Colombo. These reports provide a holistic view of the real estate markets […]