Category: Featured
Ceylon Chamber leads private sector engagement at India – SriLanka biz summit
The Ceylon Chamber of Commerce called for a new economic model focused on export-led investment and tourism, and facilitating the private sector as the engine of growth to build a sustainable business environment, at the recent India-Sri Lanka Business Summit in Colombo. The event brought together key figures, including Dinesh Gunawardena, Prime Minister of the […]
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 […]
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 […]
Opinion: Reforming tax incentive structure in Sri Lanka
The second tranche of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) was delayed as the country failed to meet some of the program targets including the government revenue target. This prompted the IMF in their latest review to reiterate the need to “strengthen tax administration, remove tax exemptions, and actively eliminate tax evasion” […]
Advocata’s Bath Curry Indicator recorded a year-on-year increase of roughly 2-pct
Advocata’s Bath Curry Indicator (BCI) which is a price-index that tracks the monthly changes in the retail price of a basket of commonly consumed food items recorded a year-on-year increase of roughly 2% between September 2022 and September 2023 and a month-on-month fall of 1.6% in between August and September 2023. Additionally, the BCI also […]
Imperative for SOE Reforms in focus at Sri Lanka Economic Summit 2023
The second session of the Sri Lanka Economic Summit 2023 titled ‘SOE Reforms – Now or Never’ will focus on the imperative for SOE reforms, sharing invaluable insights into the ongoing SOE reforms and their potential impact on economic growth. The session will center around a deep dive into the transformation of large SOEs, their […]
Re-designing Sri Lanka’s foreign policy, “need of the hour”: Eran
Sri Lankan’s economy is not standalone, but is interlinked with foreign policy, says SJB parliamentarian Eran Wickramaratne. “Whilst our internal decision making is decisive, international decision making and events play a key role in our economy, lifestyle and security, more so, because we are a small island nation,” he says. Wickramaratne is of the view […]
Recognizing contribution of women in Sri Lanka towards food security and sustainable economic recovery
Achieving gender equality and empowering women is not only the right thing to do but is a critical ingredient in the fight against extreme poverty, hunger and malnutrition. As the world celebrates International Rural Women’s Day on 15th October each year, the day shines a spotlight and recognizes the significant contributions of women to global […]
”’, Removes RWN
Fitch Ratings has downgraded Sri Lanka-based Senkadagala Finance PLC’s (Senka) National Long-Term Rating to ‘BBB(lka)’ from ‘BBB+(lka)’. The Outlook is Stable. Fitch has also downgraded Senka’s subordinated debt rating to ‘BB+(lka)’ from ‘BBB-(lka)’, and removed the Rating Watch Negative (RWN) from all of Senka’s ratings. KEY RATING DRIVERS Weakened Asset Quality Drives Downgrade: Senka’s exposure […]
Borders and Budget: Visa reform will boost tourism and reverse brain drain
By Daniel Alphonsus Three million tourists are set to visit our shores next year. We will issue nearly as many online visas – millions too many. ETAs are a tourist’s bane: rather than dreamy sun, sea and sand, the weary salaryman’s getaway begins with the tedium of forms. The tourist’s ayubowan to Sri Lanka begins […]