Development and Economic News

The Inter-Provincial Private Bus Association (IPPBA), the All Island School Van Operators Association (AISVOA), and the All-Island Three-Wheeler Drivers’ Union (AITWDU) determined that their taxi fares would have to increase in January following the imposing of the new value-added tax (VAT) at a rate of 18%.

The price of liquor will increase between Rs. 90 to Rs. 150 due to the 18 percent increase in value-added tax, or VAT, from January 1, liquor companies claimed.

A second aircraft from Air Belgium is due to join the SriLankan fleet in mid-January 2024, SriLankan said in a statement.

Czech airline Smartwings commenced direct charter flights to Colombo yesterday from Budapest providing a useful connection to tourists for the winter season.

The economic crisis is bearing on people with as many as 60.5 percent of households finding their monthly average incomes reduced while 91.0 percent of households experiencing an increase in their monthly expenditure levels, according to a survey by the Department of Census and Statistics.

Thursday, 28 December 2023 08:46

Evergreen Group emerges as largest tea producer

Evergreen Group situated in Horangalla, Thalgaswela in the Galle district has produced and sold the highest quantity of tea for a group in Sri Lanka in 2023 with a quantity of 10,256,217 Kgs.

A logistics centre in Colombo Port with China’s CM Ports, Sri Lanka Ports Authority and Access Engineering will get a 15-year tax holiday, according to a gazette notice.

The Colombo Lotus Tower Management Company (Private) Limited said today that they had recorded the arrival of 7,522 visitors to the Lotus Tower yesterday (24).

SriLankan Airlines has expanded its fleet with the addition of a newly leased Airbus A320 aircraft, identified by the serial number ‘4R – ABS’, bringing the total number of aircraft in its fleet to 22.

Sri Lanka and India have agreed on a submarine cable to connect the power grids instead is laying overhead transmission lines, a top official said.

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