Development and Economic News
Colombo stock market ends 2023 on a high positive note
The Colombo stock market yesterday ended 2023 on a positive note whilst notching up double digit gain for the year.
Treasury releases annual funds for all approved payments for the first time in 25 years
The Ministry of Finance announced that, in accordance with the 2023 Budget provisions approved by Parliament, the Treasury has disbursed the required funds for all invoices certified by government agencies until 15 December 2023.
Finance Ministry to delay in the implementation of tax changes
State Minister of Finance Ranjith Siyambalapitiya yesterday revealed a one-month postponement in implementing tax changes related to vehicle registration, revenue licenses and property purchases.
Export of services grows by robust 69% to $ 2.9 b up to November
The Sri Lanka Export Development Board (EDB) revealed yesterday that the estimated value of services exports in the first 11 months of 2023 grew by 68.72% to $ 2,908.61 million compared to the previous year.
Special VAT on liquor will increase prices between Rs.90 and Rs.150
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.
SriLankan Airlines Privatization Deadline Extended Again
The Sri Lankan government has extended the deadline for inviting proposals from investors interested in acquiring SriLankan Airlines, marking the second such extension since the privatization process began.
Buses, school vans, three-wheelers expected to increase fares from January
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%.
Special VAT on liquor will increase prices between Rs.90 and Rs.150
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.
SriLankan to receive second aircraft from Air Belgium in Mid Jan 2024
A second aircraft from Air Belgium is due to join the SriLankan fleet in mid-January 2024, SriLankan said in a statement.
Smartwings launches charter flights bringing tourists from Budapest to Colombo
Czech airline Smartwings commenced direct charter flights to Colombo yesterday from Budapest providing a useful connection to tourists for the winter season.