Political and Social News
Japanese giant Mitsubishi Corp. to wind up Lankan operations next month
Japanese giant Mitsubishi Corporation has decided to wind up operations in Sri Lanka next month after being an integral part of bilateral ties and some of the country’s key infrastructure projects for nearly 60 years.
Govt makes changes in PAYE tax under mounting pressure
Under intense pressure, the Government yesterday announced revision to the circular on personal income tax relaxing certain incentives provided for an employee whose monthly income exceeds Rs. 100,000.
Tourist arrivals to Sri Lanka increases over 26,000 in the first week of February
The tourist arrivals to Sri Lanka in the first week of February crossed over 26,000, propelling the cumulative figure to 129,051 continuing the growth momentum.
Alleged use of SPC funds to pay Keheliya’s mobile phone bill: Case fixed for further pre-trial
A corruption case filed against Minister Keheliya Rambukwella and former State Printing Corporation (SPC) Chairman Jayampathi Bandara Heenkenda was today fixed for further pre-trial to be held on March 9 by Colombo High Court.
Alleged use of SPC funds to pay Keheliya’s mobile phone bill: Case fixed for further pre-trial
A corruption case filed against Minister Keheliya Rambukwella and former State Printing Corporation (SPC) Chairman Jayampathi Bandara Heenkenda was today fixed for further pre-trial to be held on March 9 by Colombo High Court.
Paris Club Creditors and other SL bond holders agree on debt restructuring
Paris Club Creditors have agreed to provide financing assurances to support the International Monetary Fund's approval of an extended fund facility (EFF) for Sri Lanka, the Paris Club said on Tuesday.
Remittance outflow from Qatar contributes $600mn to Sri Lankan economy
The Sri Lankan expatriate community in Qatar, which is around 120,000, generates about $600mn in remittances to the South Asian nation’s economy, the country’s top diplomat in Qatar has said.
Only Rs. 11 mn spent on Independence Day celebration: President’s Office
Disclosing the expenses of the Independence Day celebration, the President's Office said the government spent only Rs. 11 million on the 75th National Independence Day celebrations this year.
US$ 2.9 Billion Extended Fund Facility for SL becomes mission impossible
Amid rising costs and taxes and the non-delivery of a timely International Monetary Fund (IMF) bailout, things are looking increasingly bleak for Sri Lanka on the economic front. This, amid a dismal budgetary situation that seems unsurmountable, informed official sources said.