Category: Economy and Markets
‘s build a new country together: Eran
Eran Wickramaratne MP alleged that foreign investors do not come to this country not because of the lack of tax incentives, but because the country’s laws are not properly implemented. He said that the fact that Sri Lanka is ranked 99th in the international index of ease of doing business and 164th in the enforcement […]
‘s VAT Hike and Economic Policies
Patali Champika Ranawaka, leader of the United Republic Front and Member of Parliament, denounced the government’s decision to raise Value Added Tax (VAT) from 15% to 18%. He accused the administration of misleading Parliament and forcing through the increase disregarding public opinion. “The government’s actions display a shocking lack of discipline and decency,” Ranawaka declared. […]
‘s Economic Program, Disburses USD337 Mn
While Sri Lanka received a crucial USD337 million disbursement from the IMF today, the country’s path towards full economic recovery remains dependent on immediate and decisive action. The IMF’s positive review of the first phase of the Extended Fund Facility (EFF) program acknowledges progress, but also emphasizes key areas requiring urgent attention. While the IMF’s […]
‘s Cabinet Approves New Foreign Exchange Rules; Reinstates Employee Stock Scheme Investments
The Cabinet of Ministers has approved new foreign exchange rules that both extend existing restrictions and lift some limitations, including the reinstatement of employee investments in stock schemes, effective December 28, 2023. This comes as the current rules, implemented under Section 22 of the Foreign Exchange Act No.12 of 2017 in April 2020, are set […]
Port City Colombo in round table discussion at Commonwealth Trade and Investment Summit
Port City Colombo (PCC) showcased its commitment to sustainable development and global economic cooperation at the third Commonwealth Trade and Investment Summit (CTIS) held in London recently. CTIS, known for bringing together senior business leaders and ministers from across the Commonwealth’s five regions, provided an ideal platform for PCC to engage in critical discussions on […]
Virtusa host CMO in Sri Lanka and discusses of transformation across HR, brand, technology and sales
Virtusa, the global provider of digital engineering solutions hosted Brian Jochum, the company’s Chief Marketing Officer and a member of the Global CXO team in Sri Lanka recently. During hismvisit, Jochum visited the Virtusa offices in Sri Lanka, met with the local leadership and addressed the media at an outreach event. Jochum’s visit to Sri […]
Softlogic (SHL) shares again suspended from trading
December 8, 2023 (LBO) – Shares in Colombo Stock Exchange (CSE) listed Softlogic Holdings (SHL) have been suspended from trading again on a December 8th. The suspension is due to the failure of the company to file an annual report for the year ended March 31, 2023. The suspension comes on the heels of a […]
‘s Tourism sector: RIUNIT report
The Research Intelligence Unit (RIUNIT) has released a comprehensive report shedding light on the current state of the Sri Lankan Travel and Tourism sector. Despite the challenges posed by the global COVID-19 pandemic and subsequent economic crises, the data reveals promising trends in tourist arrivals and spending, indicating a gradual recovery in the industry, paving […]
Launch of CSE sustainability reporting guide and awareness session
The Colombo Stock Exchange (CSE), in collaboration with the Global Reporting Initiative (GRI), developed the 3rd version of the sustainability reporting guide, which was ceremonially launched today at the Market Opening Bell Ringing ceremony held at the trading floor of the CSE. The publication is now available at www.cse.lk. Delivering the keynote address at this […]
Relations between Sri Lanka and EU reviewed in Brussels
The Ambassador of Sri Lanka to the European Union Grace Asirwatham, who is completing her tour of duty in Brussels by the end of December 2023, had a farewell meeting with Paola Pampaloni, Deputy Managing Director of the Asia Pacific Department of the European External Action Service (EEAS), on November 28, 2023. During the meeting, […]
Softlogic (SHL) reports a massive Rs20bn loss as shares resume trading
December 5, 2023 (LBO) – Colombo Stock Exchange (CSE) listed Softlogic Holdings (SHL) reported a loss of over LKR 20bn for the year ended March 31, 2023. In addition the company posted losses of over LKR 4bn for the following quarter ended June 30, 2023. Shares in SHL have resumed trading on the CSE after […]
Sri Lanka’s exports decreased by 14.6-pct in October 2023
Sri Lanka’s merchandise exports decreased by 14.6 % to US$ 898.0 Million in October 2023 compared to October 2022 as per the provisional data released by the Sri Lanka Customs. Also, it is a 13.13 % decrease when compared to the value recorded in September 2023. The decline in merchandise exports is due to decreased […]