Development and Economic News

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.

Finance Minister Nirmala Sitharaman arrived yesterday for a three-day visit engagement during which would give a further impetus to strong and growing economic ties with Sri Lanka.

China says it will continue to support Chinese financial institutions in actively consulting with Sri Lanka.

The government has called for bids for the divestiture of the debt-ridden national carrier SriLankan Airlines, Minister of Ports, Shipping & Aviation says.

The owner of the company which had allegedly imported the vials of substandard immunoglobulin, has been arrested by the Criminal Investigations Department (CID).

- Despite repeated orders, IRD fails to increase tax files

- IRD, Customs, Excise questioned on delay of digitalising files

- So far only 500,000 continue to be under tax net

- Govt. says compelled to increase VAT as State Depts fail to collect revenue

World Bank Managing Director for Operations Anna Bjerof and Regional Vice-President South Asia Martin Raiser, yesterday conducted a field visit to the Climate Smart Farmer Training School in Thirappane.

The turnover at the Colombo stock market slumped to a four-month low of Rs. 397 million as investors showed lacklustre interest amidst uncertainty over Budget 2024 and other factors.

The government has taken a firm policy decision to suspend the Strategic Development Projects (SDP) Act until the structures and processes are in place, and on the long term replace it with a new law, the Finance Ministry‘s fiscal policy department sources said.

In a significant leap towards recovery, Sri Lanka celebrated the arrival of over 1.1 million tourists, rekindling hopes of achieving the ambitious target of 1.55 million arrivals by the end of the year.

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