CFA Society Sri Lanka Capital Market Awards to raise awareness on PPP potential

The 11th annual CFA Society Sri Lanka Capital Market Awards is scheduled to be held on June 18 at Cinnamon Grand, Colombo. This year’s event will be held under the theme of ‘The Power of Public-Private Partnerships’, focusing on the current status of public-private partnerships (PPPs) in Sri Lanka and their future potential. It is also set to include a panel discussion in the form of a knowledge-sharing session on how PPPs can help Sri Lanka as

Prez Ranil’s handling of the economic crisis and what’s next for Sri Lanka?

Several people on social media now comment negatively about how the current President handled the 2022 political and economic crisis. None of them can deny that we were in a dire economic and political crisis, and we desperately looked to the world for relief to meet even our basic needs. Without India’s and others help, Sri Lanka would have certainly become another Lebanon. Several countries around the world are still struggling to come out of

President reviews progress at Ambewela Dairy Farm

President Ranil Wickremesinghe recently embarked on an inspection tour of Ambewela Dairy Farm. Upon his arrival, President Wickremesinghe was warmly received by the Management Committee, of Ambewela Dairy Farm, along with the staff. The President inspected the premises and reviewed the progress of the new development initiatives, noting the leaps that have been made, and the farm’s important contribution to the national economy. President’s en

PRCA calls for ethics and standards in SL’s advertising and marketing industry

Sri Lanka needs to put together a cohesive and comprehensive set of regulations and standards when it comes to advertising, marketing and communications and this should be done in consultation with various stakeholders in the industry, highlighted Thanzyl Thajudeen, the Country Representative of the Public Relations & Communications Association (PRCA), the world’s largest and influential PR body. Even though there exist certain codes, they are ce

CASA delegation visits Hambantota Port to explore future opportunities

The Executive Committee of Ceylon Association of Shipping Agents (CASA) toured the Hambantota International Port (HIP) last week.  The visit was to strengthen relations between CASA and HIP, foster collaboration, and explore future opportunities the port held for Sri Lanka’s shipping and logistics sector. The delegation included Shano Sabar, Chairman of CASA; Janesh Ratnadasa, Vice Chairman; Mushin Kitchilan, Treasurer; Ralph Anandappa, Secretar

Legal framework for proposed wealth and property tax yet to be finalised

The government is yet to finalise the legal framework for the proposed wealth and property tax, which is set to come into effect from 2025. “The understanding behind the wealth tax is that in countries such as Sri Lanka, wealth is accumulated by way of property. High earners are targeted through property and wealth taxes, where wealth is accumulated and it’s supposed to be taxed; however, the legal framework or basis for taxation hasn’t been fina

Large taxpayers, high-net-worth individuals to come under scrutiny in IRD’s RAMIS

The Inland Revenue Department (IRD) is aiming to specially target the high-net-worth individuals to boost tax revenue in the coming period, a senior Finance Ministry official said. “Large taxpayers and high-net-worth individuals are the centre point of the IRD’s RAMIS (Revenue Administration Management Information System),” Finance Ministry Tax Policy Advisor Thanuja Perera said. She noted that the activities of the high-net-worth individuals wou

Effectiveness of tax collection tied to people’s willingness

Optimising the financing streams across the private and public sectors is key for Sri Lanka’s journey to sustainably recover from its economic crisis, United Nations Development Programme Sri Lanka Resident Representative Azusa Kubota said. From the revenue-based fiscal consolidation measures put forth by the International Monetary Fund reform programme, Kubota stressed that the government is strongly encouraged to bolster tax revenue. “The eff

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Sri Lanka to kick off relevant negotiations for FTA with Malaysia

Sri Lanka will be able to further strengthen its ties with Malaysia, with the Cabinet of Ministers this week giving the nod to commence the negotiations for a free trade agreement (FTA) between the two countries.

Optimistic about favourable IMF review outcome: Semasinghe

Sri Lanka is optimistic about a favourable outcome from the International Monetary Fund’s (IMF) second review, under the Extended Fund Facility (EFF), State Minister of Finance Shehan Semasinghe said.

Corporate earnings show mixed results in 1Q2024

Corporate earnings of Sri Lanka’s public quoted companies showed mix results in the first quarter of this year (1Q24).

SL yet to bridge digital divide

The percentage of the computer literate population in Sri Lanka has been gradually increasing over the recent years. However, the digital divide still exists. A survey conducte

Sri Lanka among bottom 20 in female workforce participation

Sri Lanka ranks 165th out of 185 countries for its female workforce participation, according to data by the World Bank and International Labour Organization (ILO). With a female labour

FPA’s SEAP project wins again at NPME 2024

FPA Sri Lanka’s Social Enterprise Acceleration Programme (SEAP) project has won for the second consecutive year at the National Project Management Excellence Awards (NPME 2024), held recently at Galadari Hotel, Colombo.

Public Learn to launch digital education platform

Digital education platform publiclearn.lk will be launched by President Ranil Wickremesinghe on July 13, 2024, at the Presidential Secretariat, enabling Sri Lankans to find free courses and achieve their educational and professional go

BRISL invites Sri Lankan start-ups for ITEC 2024 Global Entrepreneurship Competition

The Belt & Road Initiative Sri Lanka (BRISL) invited Sri Lankan start-ups to sign up for the Global Entrepreneur

NDB clarifies on its CPC article

NDB Bank, in a correction statement issued to the media, clarified the information published in an article released by the

Vidullanka to further expand overseas renewable energy portfolio by entering B’desh

Vidullanka PLC, a pioneer in the renewable energy space, said it is looking at enter Bangladesh with a solar power project. The proposed project which is under consideration is expected to further expand and diversify Vidullanka’s foreign renew

People’s Bank honours A/L top achievers

People’s Bank recently presented cash prizes to the students who obtained the highest positions in the island and district in al

Evolza appoints Thareendra as Non-Executive Chairman

Evolza, the trailblazing company behind the CGASS AI Platform, a top-tier AI-powered enterprise software generation platform, announced Thareendra D. Kalpage as the new Non-Executive Chairman of its board of directors.

Turnover crosses Rs. 3 bn

The ASPI edged up as a result of price gains in counters such as Hayleys, Sunshine Holdings and SMB Leasing nonvoting with the turnover crossing Rs. 3.7 bn. Meanwhile, the S&P SL20 closed in green. High net worth and institutional investor participation was noted in John Keells Holdings, Ha

Bond yields on the rise ahead of expected T-Bond auction

The secondary market witnessed moderate volumes resulting in bond yield across the board to surge during yesterday as a result of the Rs. 295.0 billion treasury bond announcement on Monday, pivoting from the wait and see approach dis

Central Bank urges banks to improve cyber security amid rising fraud

As incidents of cyber crimes are on the rise and fraudsters becoming increasingly innovative in their methods, the Central Bank urged S

Vega - DIMO join to roll-out SL’s first homegrown electric three-wheeler

Sri Lanka’s urban mobility is all set to witness a boost with Vega Innovations, a company known for its cutting-edge innovations and developments, and DIMO, a leading automotive distributor joining forces. A Memorandum of Un

MAS-Ambercycle partner on circular polyester offtake agreement

MAS Holdings, a global apparel manufacturing and tech conglomerate headquartered in Sri Lanka, has joined forces with Los Angele

BoardPAC with Johannesburg Stock Exchange elevates board governance standards

BoardPAC, the leading provider of board governance solutions, is to rekindle discussions with the Johannesburg Stock Exchange (JSE), marking a significant stride toward enhancing board governance standards in South Africa. This renewed e

Hemas-Hatch Slingshot Accelerator second iteration to propel Sri Lankan start-ups

Hemas, in collaboration with Hatch, announced the second iteration of the Hemas x Hatch Slingshot programme. Following on from the success of this Accelerator Programme in 2023, where Hemas supported 25 start-ups and accelerated eight sta

Expolanka Holdings announces 'final extension’ to exit offer

Expolanka Holdings announced its decisions to extend the exit offer till 4.30pm on Thursday, 13 June 2024.

Ransomware menace plaguing Sri Lankan businesses: Kaspersky

A total of 2,650 ransomware incidents have been detected and blocked by Kaspersky’s cybersecurity solutions for businesses in Sri Lanka from January to December 2023, it was revealed.