There’s mounting opposition from the entire tourist industry against the government’s plan to change the existing Tourism Act, as seen in the media. Having been a member of the team that helped draft the current act around 15 years ago, I felt that I should also lend my voice to the ‘chorus of objections’.
No gas, no diesel, no electricity, no milk-powder, no vehicles, no spare parts, no raw materials and the list goes on and on. Everywhere you see people on the road screaming and cursing the government to resolve these issues. The reason being no dollars.
One of the most famous women in history once said: “Within crisis, are the seeds of opportunity”. The source of such a powerful truism? Marilyn Monroe, a woman who clearly possessed great wisdom, but is unfortunately remembered for her physical beauty than her intellectual and emotional strength.
Progressing on previous work on tax revenue leakage and illicit markets, the Research Intelligence Unit (RIU) launched its latest report on the economics of tobacco taxation providing a macro-level overview of the tobacco industry in Sri Lanka, including the illicit market.
Tea is a drink with endless variations – whether you like it with a serving of scones or spiced, like Indian Chai or infused with mint like Moroccan tea or even Japanese Matcha. It’s the most popular drink in the world after water, with a staggering 3.7 billion cups consumed globally every day.
The intention of the government was to reduce imports and encourage exports. The policy document ‘Vistas of prosperity and splendour’ page 36 refers to reducing the trade deficit and going for import substitution and encouraging exports.
The motivation that made me pen this was a proposal made by Dhammika Perera through the sister paper Lankadeepa. Proposals to improve the higher education quality are ordinary but rarely one suggests the development of the higher education industry. Hence, this response.
On January 13, 2022, the Station Masters Union launched a 24-hour token strike cancelling over 200 scheduled trips. As a result, the commuters heading back home from Colombo, long-distance travellers, tourists (both local and foreign) were all inconvenienced and left stranded in stations partway through their journey. Angry commuters attacked the train bound to Batticaloa, when it passed the Kekirawa station. This public outrage at the services
Countries worldwide are navigating their way out of the ongoing COVID-19 crisis, while facing the adverse effects of climate change. The world needs innovative approaches to build back better, mitigate and adapt to the biggest development challenges of our time. Mindful of this need, the World Bank Group has been engaging with the governments of the Maldives, Nepal and Sri Lanka to help increase access to and use of digital technologies and pave
As we near the two-year mark of the ravenous coronavirus pandemic, it is positive to see that many businesses worldwide have stepped up to the challenge, adjusting their businesses both to safeguard their employees and to continue serving their customers. Even locally, many organisations believe that they have responded efficiently to the pandemic.
The new bill titled Special Goods and Services Tax (SGST) was published by a gazette dated January 7, 2022. The SGST was originally proposed in Budget Speech 2021 but was not implemented. Once again, it has been presented in Budget 2022.
In 2016, Sri Lanka ratified its Trade Facilitation Agreement (TFA) with the World Trade Organisation (WTO) and in 2017 a secretariat was established for the National Trade Facilitation Committee to drive the much-needed trade reforms in the country.
The Colombo Stock Exchange (CSE) is planning to revise the calculation methodology of All Share Price Index (ASPI) by changing the constituent weighting method from full Market Capitalization to free float-adjusted Market Capitalization.
Sovereign debt restructuring can be pre-emptive or post-default. A default is inherently costly, as it can result in a sustained loss of access to capital markets. That leaves pre-emptive restructuring when a country deems itself unable to service outstanding debt.
As Covid-19 turned off the supply of customers for many Sri Lankan businesses, merchants turned to the internet and the opportunities of e-commerce. Since the pandemic began in early 2020, the number of merchants moving their existing businesses online, or starting new ones, has exploded, according to Sri Lanka’s largest e-commerce platform, Daraz.
CBSL identifies 21 companies engaged in prohibited schemes
Trump launches cryptocurrency with price rocketing
SEC extends deadline for corporate finance advisor licensing
ICFS to host University Spot Admission Day on January 18
Pay the rent of Rs. 4.6Mn or vacate the residence: AKD tells MR
Inclement weather causes havoc again
Shooting in Mt.Lavinia linked to underworld dispute kills one
President to visit UAE as next official visit