Grasping the intricacies of Sri Lanka’s tax recovery process is imperative for anyone looking to understand or navigate the nation’s financial obligations. An economic revival pivots crucially around bolstering the efficiency and yield of tax recovery services in Sri Lanka. Amidst efforts to stabilize and enhance the economy, the roleContinue Reading
The Port of Colombo, a beacon of maritime achievement, recently solidified its position as a leader in the shipping industry during the esteemed Port of Colombo Awards Night 2024. This night of glamor and recognition was graced by the key figures in maritime leadership, including Ports, Shipping and Aviation MinisterContinue Reading
The upscale residential community of Dalugama has embraced the arrival of a new standard in luxury living options with the completion of Prime Villas. This exclusive villa community, conceived by the pioneering real estate developer Prime Group, stands as a testament to the company’s dedication to crafting modern homes thatContinue Reading
The International Monetary Fund (IMF) has recently concluded a decisive first review under the Extended Fund Facility (EFF) with Sri Lanka, marking a significant step towards bolstering the already resilient Sri Lanka economy. The immediate release of SDR 254 million, roughly equivalent to USD 337 million, reflects the Fund’s confidenceContinue Reading
In an era where the demand for seamless, international and domestic air travel is surging, Sri Lanka responds with a momentous decision to elevate Jaffna Airport’s facilities. Minister of Ports, Shipping, and Aviation, Nimal Siripala de Silva, after a critical evaluation of the current passenger amenities on his inspection visitContinue Reading
With the technological tide rising, Sri Lanka stands on the brink of a new era in banking and financial services. The upcoming introduction of LankaPay’s Blockchain KYC is poised to reshape the landscape of digital financial services in Sri Lanka. On the horizon is an innovative approach to managing customerContinue Reading
Shenzhen, a bustling nexus of innovation and technology in the heart of China, has reported a stellar rise in commercial activities. As the front-runner of China’s export economy, this dynamic city has witnessed a China trade increase of 53.1 percent to 441.4 billion yuan in just the first two monthsContinue Reading
In a landmark visit that signifies deepening economic cooperation, a high-level delegation from Jilin Province, China, met with officials from the Board of Investment (BOI) in Sri Lanka. This prominent exchange, underscored by the presence of the Vice Governor Sui Zhong Cheng, sought to fortify the bridges of trade andContinue Reading
As Sri Lanka gears up for the upcoming monetary policy review, the aura within its financial markets is one of cautious anticipation. Investors, attuned to the pulse of global economic indicators analysis, are holding their breath, influencing a lull in trading volumes. This critical period before the Federal Reserve decisionContinue Reading
The vitality of Sri Lanka’s construction industry is integral to the nation’s journey towards economic revitalization. Historically cornerstone to Sri Lanka’s GDP growth, this sector’s robust activities often parallel the health of the broader economy. However, in recent years, the industry faced substantial setbacks from global disruptions, significantly the COVID-19Continue Reading
Seylan Bank, one of Sri Lanka’s prominent financial institutions, recently heralded the commencement of Justice Buwaneka Aluwihare PC as an Independent Non-Executive Director on its coveted Board of Directors. This momentous appointment, effective as of February 26th, 2024, signifies a noteworthy infusion of legal acumen into the bank’s governance structure.Continue Reading
As Sri Lanka’s northern capital embarks on a journey towards economic rejuvenation, Jaffna’s new mercantile investment landscape is emerging as a beacon of potential. Investors are keenly eyeing Jaffna investment opportunities, with an understanding that this storied city’s commercial revival is more than mere speculation—it is a palpable shift inContinue Reading
The fiscal landscape for enterprises can often be a terrain fraught with financial challenges, and this has certainly been the case for DFCC Bank. In recent months, the organization has witnessed its profitability take a hit, as delineated in the DFCC fiscal report. Corporate tax expenses, a vital fiscal componentContinue Reading
The retail landscape of Sri Lanka is undergoing a transformative journey with the launch of Cool Planet’s flagship store in Katubedda. This premier fashion retail store is designed to redefine shopping by offering a breadth of sophisticated, fashion-forward clothing and accessories. The opening of this new Cool Planet store inContinue Reading
The skies between Sri Lanka and Hong Kong are set to buzz with the resumption of Cathay Pacific international flights. Starting February 2, 2024, Cathay Pacific—an airline renowned for its award-winning service—recommences operations from Colombo, marking a significant return to a familiar route. This strategic revival brings the esteemed airlineContinue Reading
In a decision marking a significant shift in economic leadership, President Ranil Wickremesinghe has demonstrated his authority and strategic foresight as Finance Minister by naming Jayamin Pelpola as a Non-Executive Director to the Board of Bank of Ceylon (BOC), effective immediately. This key appointment is amongst the notable BOC appointmentContinue Reading
In a landmark legal ruling, the Court of Appeal of Sri Lanka has taken definitive action by blocking plans for the further development of the pharmaceutical zone in Oyamaduwa, Anuradhapura. This decision comes as a response to a series of legal disputes that have cast uncertainty over the future ofContinue Reading
Investors on the Colombo Stock Exchange are witnessing a notable event as the National Development Bank (NDB), a leading financial institution in Sri Lanka, has declared its final dividend for the fiscal year concluded on December 31, 2023. Amidst a financial landscape playing host to numerous variables, NDB stands outContinue Reading
At the core of Sri Lanka’s vibrant economy lies the People’s Bank, a beacon of financial stability and champion of growth. With a remarkable 14 percent projected increase in bank credit for 2014, the Colombo-headquartered bank stands tall, fuelling the expansion of Micro, Small, and Medium Enterprises (MSMEs). This growthContinue Reading
The Commercial Bank of Ceylon has marked a new milestone in Kegalle, Sri Lanka, with the opening of its innovatively designed two-storey branch. Situated at No 186, Main Street, the ComBank branch opening Kegalle welcomes customers into a contemporary facility poised to deliver a superior banking experience. This strategic initiativeContinue Reading