All Stories in Economic

High costs slowing push toward solar energy

High costs slowing push toward solar energy

An ambitious plan by the Sri Lankan government to outfit 100,000 homes with solar panels, to turn them into power producers for the national grid, may be too expensive for many families to afford, experts warn. Sri Lanka’s government this month launched a “battle for …

Important that government expedites legislative process of implementing VAT

Important that government expedites legislative process of implementing VAT

A staff team from the International Monetary Fund (IMF) led by Jaewoo Lee visited Colombo during September 13-23, 2016 to hold discussions on the first review of the Sri Lankan authorities’ economic program that is being supported by a three-year Extended Fund Facility (EFF). The …

Axiata falls as Malaysian parent plan to cut stake

Axiata falls as Malaysian parent plan to cut stake

PT XL Axiata, the Indonesian wireless carrier, fell to the lowest in nearly a year after people with knowledge of the matter said its Malaysian parent company is planning to sell part of its stake. Shares of XL Axiata dropped as much as 4.9 percent Tuesday …

Rising chicken prices

Rising chicken prices

Annual per capita consumption of chicken in Sri Lanka, which was barely 2.5 kg a decade ago, has now reached 8.2 kg and is likely to reach 10 kg in the near future. While consumption has risen more than three-fold, prices have remained virtually unchanged …

Sri Lanka to simplify taxes

Sri Lanka to simplify taxes

Sri Lanka’s new government is drafting norms aimed at simplifying taxes, widening the tax base and increasing compliance, Finance Minister Ravi Karunanayake said. The International Monetary Fund (IMF), which disbursed the first tranche of a $1.5 billion, three-year loan in June, has repeatedly asked the …

India to provide Rs 300 million aid

India to provide Rs 300 million aid

India will provide an assistance of Rs 300 million to Sri Lanka for livelihood development, including the fisheries sector, in the southern Hambantota district, an official said today. Sri Lanka government spokesman Gayantha Karunathilake said that the Indian government has agreed to provide the grant …

Stocks hit 3 month high

Stocks hit 3 month high

Sri Lankan shares hit a three-month closing high on Friday as investors bought banking and construction stocks, brokers said. Construction shares have been rising ever since the government gave its consent to restart a $1.4 billion port city deal on hopes the sector would see …

China is likely to adopt open attitude toward Japan-Sri Lanka cooperation

China is likely to adopt open attitude toward Japan-Sri Lanka cooperation

China doesn’t have to be overly sensitive about Japan’s cooperation with Sri Lanka in the construction of harbors located along key maritime routes in the Indian Ocean, as long as the harbors will not be used for military purposes. Media reports have said Japan’s government …

Talks begin on economic and technical cooperation agreement

Talks begin on economic and technical cooperation agreement

India and Sri Lanka on Tuesday began preliminary official level talks on an Economic and Technical Cooperation Agreement (ETCA) which the two countries hope to sign by year end. The four-member Indian delegation is led by Bhupinder Singh Bhalla, Joint Secretary ,Ministry of Commerce. The …

Colombo Stock Exchange launches online services

Colombo Stock Exchange launches online services

Online Services for CDS Account Holders Launched via www.cdseconnect.lk Central Depository System (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), announces the launch of CDS e-connect, a secure electronic business portal that offers an array of online services to CDS …