Development and Economic News
Govt. to enact new State Owned Enterprises (SOE) Act soon
The Government is to promulgate a state owned enterprises (SOEs) Act in the coming months to accord legislative authority and operational effect to the SOE reform policy, Finance Ministry’s fiscal policy report outlined.
State Minister and opposition MP claim credit for checkmating liquor tax defaulters
Whilst State Minister of Finance Ranjith Siyambalapitiya claimed that a sum of Rs 6,721 million is to be collected from five liquor manufacturing companies which have defaulted taxes,
Govt to regulate unregistered microfinance institutions
State Minister of Finance Ranjith Siyambalapitiya announced that measures are underway to establish a separate regulatory authority dedicated to overseeing microfinance institutions.
Hamilton Reserve Bank requests US Court to deny SL’s cross-motion
Plaintiff Hamilton Reserve Bank Ltd., (HRB) has recently filed a ‘Memorandum of Law in Response to the Statement of Interest and AMICUS Brief’ opposing the cross-motion to stay the defendant Government of Sri Lanka requested from US District Court, Southern District of New York.
Price of Muriate of Potash needed for paddy cultivation reduced by 50%
The price of Muriate of Potash (MoP) fertilizer is to be reduced by another 50 percent, Agriculture and Plantation Industries Minister Mahinda Amaraweera said.
Cabinet paper submitted to reduce price of Muriate of Potash by 50%
A Cabinet paper has been submitted to reduce the price of Muriate of Potash (MoP) fertilizer by another 50 percent, Agriculture and Plantation Industries Minister Mahinda Amaraweera said.
Supplementary estimate of Rs. 238.9 billion to settle CEB, SLA debts
SriLankan Airlines (SLA) and the Ceylon Electricity Board (CEB) will together receive Rs. 238.9 billion from the Treasury to settle their debts, enabling the two entities to restructure their balance sheets ahead of their divestment process.
Enter Air begins charter flights connecting Poland and Sri Lanka
The inaugural charter flight of Enter Air arrived at Bandaranaike International Airport (BIA) yesterday, connecting Poland and Sri Lanka.
South Korea pledges support to Sri Lanka
South Korea has pledged its assistance to Sri Lanka for several programmes including employment generation for young people and reinforcement of employment cooperation.
Sri Lanka misses monthly tourist arrivals targets
Sri Lanka has not met its monthly tourist arrivals targets for three consecutive months, with October falling short as well, the data released by the tourism authority showed.