Following is the third part of the full speech made by Dr. K. Kanag-Isvaran, President’s Counsel, at the 22nd Annual  Oration on Taxation, organised by the Institute of Chartered Accountants of Sri Lanka.

The US government recently endured a month-long partial shutdown due to a partisan dispute over funding to build a wall on the country’s southern border with Mexico. While those on both sides of the issue were digging in their heels, I got to t

The Asian Development Bank (ADB) and four Sri Lankan universities yesterday signed project agreements totalling US $ 145 million, under the ADB-funded Science and Technology Human Resources Development project, to foster science and technology in Sri

Sri Lanka’s largest brewer has urged the government to come up with a foolproof mechanism to eliminate the tax revenue leakages stemming from non-declaration of full production volumes by spirits makers.  

The Colombo Stock Exchange (CSE) yesterday announced the appointment of Dimuthu Sanjaya Abeyesekera and Murtaza Jafferjee as Directors of the CSE board with effect from February 1, 2019.   

The strong performance of the consumer, healthcare and energy sectors offset the negative results from the tea plantation business at Sunshine Holdings PLC, paving the way for the diversified conglomerate to pull off a robust performance for the quar

The Colombo Commercial High Court has issued enjoining orders on MTD Walkers PLC restraining it from transferring its shares in the name of third parties or interfering with its shares in any other manner, until February 20. 

(Colombo) REUTERS: Sri Lanka’s rupee ended tad weaker yesterday, as importer dollar demand surpassed the exporter greenback sales, market sources said.

The government yesterday said it would contribute Rs.50 to the daily wage of every tea plantation worker, for a period of one year, which can only be described as a desperate measure to end the protracted plantation sector daily wage issue.

The World Bank Vice President for the South Asia region, Hartwig Schafer is currently in town on his first visit to Sri Lanka to gain a better understanding of the country’s development priorities and as to how the bank can continue to support

Access Engineering PLC is en route to secure its largest construction contract outside Sri Lanka worth of 14 million euros to design and construct substructures for a Spanish-funded steel overp

Worker remittances constitute an important component in the balance of payments (BoP) accounts in Sri Lanka. In 2017, foreign exchange earnings fr

Costs stemming from heavy borrowings and substantial exchange losses weighed on Singer Sri Lanka PLC as the country’s largest consumer durables retailer and white goods maker suffered a loss for the quarter ended in December 2018 (3Q19). 

Sri  Lanka  began advertising for hangmen this week, as the President Maithripala Sirisena pushes ahead with a hardline policy modeled on the Philippines, to combat drug trafficking. The photo shows a 

After much drama, a new head has been installed at the country’s tourism establishment. Corporate leader Kishu Gomes on Monday assumed duties as Chairman of both the Sri Lanka Tourism Development Authority and Sri Lanka Tourism Promotions Burea

European tourists accounted for 50 percent of the tourist arrivals to Sri Lanka during the first month of 2019, the data released by Sri Lanka Tourism Development Authority

(Colombo) REUTERS: Sri Lanka’s rupee ended weaker yesterday, as banks bought dollars to facilitate stock-related outflows and importer greenback demand, market sources said.  The stock market closed down as 

Following is the first part of the full speech made by Dr. K. Kanag-Isvaran, President’s Counsel, at the 22nd Annual Oration on Taxation organized by the Institute of Chartered Accountants of Sri Lanka.

Global foreign exchange reserves—which are used by countries to pay for goods and services and to hedge against exchange rate risks—reached US $ 11.48 trillion in the second quarter of 2018, according to the International Monetary Fund (I

New Delhi’s strategic circles are abuzz with speculation of a defence infrastructure upgrade at India’s Andaman and Nicobar islands in the Bay of Bengal. According to media reports, the government is on the cusp of finalising a 10-year pl

The tourist arrivals during the first month of this year rose 2.2 percent year-on-year to 244,239, the Sri Lanka Tourism Development Authority (SLTDA) said in a brief press release yesterday. The largest source markets during the month were India, fo

National Development Bank PLC (NDB) reported robust earnings supported by aggressive growth in assets as the lender ploughed strongly through multiple headwinds in the economy to pull off some solid performance for the quarter ended December 31, 2018

Expolanka Holdings PLC marched forward with substantial growth in the top and bottom lines during the quarter ended December 31, 2018 (3Q19), led by its key logistics and freight forwarding business.   

The Central Bank yesterday said US $ 16 million from the ETI Finance (ETIF) deal is yet to be received.  

(London)AFP: Britain’s economy grew at the slowest pace in six years in 2018 with near-flat output in the final quarter, data showed yesterday, as Brexit uncertainty and weaker global growth bites.  

(Colombo) REUTERS: Sri Lanka’s rupee ended a tad higher yesterday, as exporters and foreign banks sold dollars, amid government securities’ purchase by foreign investors, market sources said.

Diversified conglomerate Hayleys PLC with an asset base of Rs.233 billion, bounced back strongly during the quarter ended December 31, 2018 (3Q18), after recording losses for two consecutive quarters, the interim financial accounts released to the Co

Harry Jayawardena-controlled diversified conglomerate Aitken Spence PLC recorded strong top and bottom line growth for the quarter ended December 31, 2019 (3Q19), backed by improved performance in all its four key business segments.

Hemas Holdings PLC delivered some  strong top and bottom line performance during the quarter ended in December 2018 (3Q19) led by its key consumer business along with the recent acquisition in the sector.