Business News (242)
Sri Lanka merchandise export earnings record new high in Jan.-April 2024
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Sri Lanka’s merchandise export earnings have reached a record high of $ 3.98 billion in the first four months of the year, whilst reflecting a 3.55% year-on-year (YoY) increase, provisional data released yesterday by the Export Development Board (EDB) revealed.
SL proposes 10% levy on annual profits of global tax evasion assets
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In an effort to support blended finance projects focused on climate change adaptation and mitigation, Sri Lanka proposed a 10 percent levy on the annual profits of global tax evasion assets deposited in tax havens.
The value of the US dollar and the Sri Lanka Rupee is determined by the supply and demand. If the value of the dollar rises significantly, the Central Bank of Sri Lanka (CBSL) has sufficient dollars to control it, Finance State Minister Ranjith Siambalapitiya said.
New laws are being introduced to facilitate the use of uncultivated land for agricultural purposes as land is vital for social empowerment, State Minister for Social Empowerment Anupa Pasqual said
The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has increased to 2.7% in April 2024, compared to 2.5% in March 2024, according to the latest data released by the Department of Census and Statistics.
Elon Musk has accepted an invitation by President Ranil Wickremesinghe to visit Sri Lanka this year to launch his Starlink satellite internet service.
Sri Lanka secures World Bank support to restructure US $800 million water sector debt
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At the 10th World Water Forum in Bali, Sri Lanka's Minister of Water Supply Jeevan Thondaman announced a significant partnership with the World Bank.
Sri Lanka is about to receive 100 Octane premium petrol, known as XP100 rating fuel, which helps enhance the performance of vehicles, particularly high-end luxury cars and bikes.
Govt. revenue in January surge 62% on economic turnaround, higher taxes
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The revenue to the government, including the grants, rose by a staggering 61.8 percent in January 2024. This is a result of the government raking in billions of rupees out of people’s pockets to appease the International Monetary Fund’s revenue targets.
Madras Security Printers likely to face black listing over fake liquor sticker issue
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Sri Lanka’s Government Analyst is set to find out the similarity in paper used in printing counterfeit security tax stamps and the printing paper of fool proof liquor sticker with QR code for all liquor products, in the latest twist in the investigation into this racket.
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The Treasury is compelled to curtail spending further in the second quarter of this year as the day’s revenue collection is far below the daily expenditure creating a cash flow problem, Finance Ministry sources confirmed.
Three major Sri Lankan authorities have banded together to form a blended finance platform where donor assistance is combined with additional private and public financing to leverage funds to back sustainable projects, officials said.
The Central Bank (CB) will roll out a national digital currency by the end of the year with the aim of modernising the country’s financial transactions and regulatory framework, a senior official disclosed to a parliamentary committee recently.
Refugee from Sri Lanka becomes Mayor in UK town