The International Monetary Fund (IMF) yesterday said another round of interest rate hike would be “desirable” to rein in inflation and private credit as its Executive Board completed the second review of Sri Lanka’s economic performance under a US $ 1.5 billion three-year extended arrangement.
While Sri Lanka has made considerable progress in thwarting money laundering and terrorist financing over the past two years, more needs to be done to improve the situation, Finance and Mass Media Minister Mangala Samaraweera said yesterday.
Hayleys Advantis has further solidified its position in the Maldives with the addition of two new landing craft that will further expand the range of services offered by their subsidiary, Total Transport Solutions Maldives (Pvt) Limited (TTS).
Finance and Mass Media Minister Mangala Samaraweera during a discussion with representatives of trade unions of the Inland Revenue Department (IRD) stated that the main objective of the new Inland Revenue Bill was to simplify the tax system in the country in order to create an investor-friendly environment to attract investments.
The government will fast-track the delayed development work on the East Container Terminal (ECT) of the Colombo port, Ports and Shipping Minister Mahinda Samarasinghe told an audience of logistics and transport professionals in Colombo, last Friday.
The World Bank is expecting Sri Lanka’s budget deficit to run up to 5.2 percent of the Gross Domestic Product (GDP) this year compared to the more ambitious 4.7 percent of GDP projection of the government, although the development lender placed its faith in Sri Lanka achieving its long-term deficit targets.
Sri Lanka’s Central Bank Governor Dr. Indrajit Coomaraswamy is advocating a more measured approach to financial technology (fintech) in the country, despite the significant industry opportunities highlighted by an official from the Singaporean Central Bank.
Unrealistic and outdated statistics used in the Ceylon Electricity Board (CEB) Least Cost Long-Term Generation Expansion Plan 2018-2037 (LCLTGEP) are discouraging the more environmentally friendly liquid natural gas (LNG)-based electricity generation, energy sector experts charge.
The foundation laying ceremony of pharmaceutical manufacturer JL Morison Son & Jones (Ceylon) PLC’s US $ 13.5 million research and manufacturing facility located within the Sri Lanka Institute of Nano Technology (SLINTEC) in Homagama took place, yesterday.
Sri Lanka’s luxury apartment segment, which has been drawing negative sentiments from the state and private sectors alike, is not built on shaky fundamentals and there are avenues to mitigate the potential risks, according to the Fortune 500 company, Jones Lang Lasalle (JLL), which specializes in real estate.
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