Business News (242)
Excise Department urges companies to settle Rs. 1.8 b unpaid taxes by 30 November
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Excise Department Commissioner General M.J. Gunasiri says only Rs. 162 b of Rs. 323 b target The Excise Department Commissioner General M.J. Gunasiri yesterday called on liquor manufactures to pay their overdue taxes before 30 November, warning that legal action will be taken against those who fail to comply.
A high-level team of the International Monetary Fund (IMF) led by its Director of the Asia Pacific Department, Krishna Srinivasan, is scheduled to visit Colombo from October 02 to 04 to meet with President Anura Kumara Dissanayake and Sri Lanka’s new economic team.
Apparel & Textile exports top USD 500 million after two years in August 2024
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As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in August 2024 amounted to US$ 1,165.4 million, recorded an increase of 4.18 % compared to the month of August 2023.
The Central Bank of Sri Lanka (CBSL) says it purchased a significant amount of foreign exchange from the domestic market to bolster the Gross Official Reserves (GOR).
The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 8.25 per cent and 9.25 per cent, respectively.
New govt. seeks Saudi investments in Port City, Hambantota Port
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Newly appointed Foreign Affairs Minister Vijitha Herath said, in his first public function on Tuesday,
China to play a constructive role in Sri Lanka's economic development
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China has expressed its readiness to play a constructive role in Sri Lanka's steady economic and social development, adhering to non-interference principles in the country's internal affairs and respecting its sovereignty.
International Chamber of Commerce Sri Lanka signs MoU with Port City Colombo
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The International Chamber of Commerce (ICC) Sri Lanka yesterday announced the signing of a Memorandum of Understanding (MoU) with Port City Colombo.
Sri Lanka’s tourism industry is anticipating continued growth following the recent presidential election, widely regarded as one of the most peaceful in the nation’s history, Sri Lanka Tourism said.
Sri Lanka bondholders make further interest cuts, NPV benefit 33-pct
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Sri Lanka bondholders have made further concessions during the latest round of negotiation which will see the present value benefit increasing from 27 percent in a July deal to 33 percent in the September deal, if the economy performs better than expected, finance ministry clarified. .
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Local banks to get 10-pct haircut on 70-pct of ISBs, balance in rupees
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Sri Lanka had reached a deal with foreign bond holders and local banks to restructure defaulted sovereign bonds, according to a finance ministry statement.
BOI to attract strategic investments in key sectors to drive economic recovery
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The Board of Investments of Sri Lanka successfully hosted an investor roundtable titled “Supporting Sri Lanka’s Recovery through Resource Commitment” at the Ministry of Investment Promotion, Colombo recently
Pakistan and Sri Lanka have yet to operationalise a bilateral dispute resolution body, nearly two decades after signing a treaty, leaving trade disputes unresolved. This could potentially harm Pakistan’s exports to the island nation.
IMF representatives are scheduled to visit Sri Lanka in two weeks to disburse the next instalment of funds, as outlined in the agreement between the Sri Lankan government and the International Monetary Fund, official sources confirmed.