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Tue, 24 Sep 2024 Today's Paper
The Inland Revenue Department (IRD) has issued instructions for individuals, partnerships and partners in a partnership and companies to settle the fourth quarter income tax instalment on or before May 15.
When all else seemed gloomy and commodities prices were set to take a plunge from the coronavirus-induced economic damage, one commodity stood out unscathed, i.e. Ceylon Tea, but analysts said all is not well with it as many factors were at play and
Fears of a second wave of coronavirus infections in some parts of the world weighed on equities yesterday, bringing a dose of hard reality to markets after weeks of rallies fuelled by the easing of lockdown measures and hopes for economic recovery.
Asia’s economy dominated until the 19th century, before being knocked off its pedestal by Europe and then the US. Since then, while the region has grown to become home to more than half the world’s population and soon half of the world’s middl
One of the biggest challenges seen due to the coronavirus outbreak is the socio-economic downfall with over 200,000 deaths around the world without any cure at the moment (by end April 2020) (Source: World Health Organization – WHO).
People all over the world are increasingly standing in solidarity with one another to beat the virus. The COVID-19 pandemic will inevitably wreak its worst on the people, communities, and countries that are least able to withstand the shock or to pro
The Employers’ Federation of Ceylon (EFC) has put forward to the government a 10-point proposal that would help cushion the private sector from possible labour issues and ensure its ability to continue to operate amid the challenges the businesses
Saudi Arabia unveiled plans yesterday to triple its Value Added Tax (VAT) and halt monthly handouts to citizens as part of a series of austerity measures amid record low oil prices and a coronavirus-led economic slump.
Hong Kong-based Kerry Logistics Network has announced a new joint venture, Kerry Logistics Lanka, with Sri Lanka’s IAS Holdings, to strengthen its international freight forwarding capabilities in South Asia.
Ceylon Tea commands higher prospects in 2020 and beyond as it remained one of the few commodities less prone to the economic downturn, although the pandemic dealt a crushing blow to many other industries and businesses, said John Keells PLC, a commod
Sri Lanka recorded a 44.1 percent YoY decline in tourist arrivals during the first four months of the year, with no tourist arrivals in April, due to the termination of all passenger flight and ship arrivals into the country from March 18, to slow th
Local apparel giant, MAS Holdings, appears to be pinning its hopes on medical apparel to ride the economic fallout of the COVID-19 pandemic, as the firm has started producing a range of medical apparel to help the fight against the deadly virus.
Sri Lanka’s banks have seen a massive upsurge in their digital transaction volumes as the COVID-19 pandemic has upended how banking should be done and the banks are now refusing to go back to old ways, since they want to lock-in the low-cost busine
The Colombo Stock Exchange (CSE) yesterday closed trading in just 38 seconds when the market resumed trading following a 51-day break, with the S&P SL20 index breaching the 10 percent decline threshold amid the plunge in share prices, triggering cir
Disinfection work was seen carried out in Colombo Fort area yesterday as Colombo prepares to re-open for business albeit partly under the health sector authorities’ strict guidelines.
The Colombo Stock Exchange (CSE) is scheduled to resume trading today as the market braces for heavy foreign selling despite anticipated weak buying interest amidst the impact of COVID-19, further exacerbated by its longest ever shutdown spanning for
Sri Lanka’s official reserves slipped by US$ 354 million during April to end with assets of US$ 7.2 billion as the foreign earnings from exports, services and inflows to the capital account slowed significantly, but the authorities expressed confid
State-controlled Sri Lanka Telecom PLC (SLT) has announced the appointment of a Group Chief Executive Officer two years after the former CEO Dileepa Wijesundera left the Group.
The Ceylon Tea cuppa for the month of April recorded an impressive sales average reaching the highest ever gain, a development that is much welcome for the industry that is determined to steer forward amidst new challenges brought about by the global
Sri Lanka’s Elpitiya Plantations PLC is planning to move ahead with the development of US$ 4 million ESCAPE theme park in the Galle district later this year with Sim Leisure Group Ltd, Singapore Stock Exchange listed leading theme park developer an
Sri Lanka’s strongly hit tourism sector has once again reached out to the government seeking further assistance, and the latest appeal is to extend short and long-term relief packages for the affected entities and self-employed persons.
Emirates, one of the world’s biggest long-haul airlines, reported a 21percent rise in full-year profit yesterday, but warned the outbreak of the new coronavirus hit its performance in the fourth quarter of the financial year.
Losses at Hayleys Fabric PLC swelled in the three months ended March 2020, as sales plunged while the operations were suspended two weeks prior to the end of the quarter as the world was engulfed in the worst pandemic in a century forcing all its for
Consequence to COVID-19, Sri Lanka is now compelled to ban imports, restrict imports or increase import taxes to manage its valuable foreign exchange reserves. Though such short-term actions are timely and inevitable to face a crisis situation, they
Despite the fact that electoral democracy in Sri Lanka faced many challenges in pre and post-independence eras, the country has managed to conduct periodical elections in national level.
The Asian Development Bank (ADB) has provided a guarantee for a US $ 25 million trade loan to State Pharmaceuticals Corporation of Sri Lanka (SPC) to purchase medical supplies, as part of the country’s response to the novel coronavirus (COVID-19) p
Fitch Ratings forecasts a faster recovery for Sri Lanka’s DSI Samson Group’s (DSG) footwear segment, from the disruption caused by the slowdown in economic activity precipitated by the COVID-19 pandemic, while its tyre segment will have to brace
Most equities rose again yesterday as investors grew increasingly, but cautiously, hopeful that the worst of the coronavirus had passed and as countries begin to slowly open up from lockdown.
The Employers’ Federation of Ceylon (EFC) has reached out to the government seeking short-term relief for the private sector as the stoppage of work for over six weeks has crippled businesses, making it difficult for many to pay even the basic sala
Fitch Ratings yesterday cut the ratings of three Sri Lankan banks to reflect the sovereign rating, which was downgraded a few weeks ago to ‘B-’ with a ‘Negative’ outlook, citing heightened public and external debt sustainability challenges fr
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