At a press conference regarding the third review of Sri Lanka’s Extended Fund Facility from the International Monetary Fund (IMF), Sri Lanka Representative Peter Brewer highlighted the need for a property tax to ensure long-term economic stability. A property tax is a progressive tax imposed on the wealth of property owners, commonly practiced in many…
The Ceylon Electricity Board (CEB) is reportedly working to discourage solar power supplied to the national grid from rooftop solar panels, aiming to limit the amount of solar power acquired. Currently, the CEB pays Rs. 27 per unit for up to 500 kilowatts of roof-top solar energy supplied to the grid and Rs. 23 per…
According to the state-owned Silumina newspaper, approximately 150 luxury Range Rover vehicles have already been ordered following the Sri Lankan government’s decision to lift the ban on vehicle imports. The price of a Range Rover is estimated to be around Rs. 150 million. These vehicles are expected to hit Sri Lankan roads by June 2025.
Colombo: Women’s participation in Sri Lanka’s tourism and hospitality industry remains below 10%, according to Russell Clements, the General Manager of Public and Cultural Relations at Uga Ulagalla Resort. Clements highlighted that parental concerns about safety and the challenges of sustaining a career in the hospitality sector discourage many young women from entering the field. ““Parents’…
Maarit Kohonen Sheriff, Director of the Global Operations Division at the UN Office of the High Commissioner for Human Rights, has called on the Sri Lankan government to lift unnecessary regulations and restrictions on civil society and independent media to revive civic space. Speaking at the 58th Session of the Human Rights Council, Sheriff emphasized…
The spot gold price is trading at record highs and targets the psychological $3000 mark amid flight-to-safety inflows due to growing uncertainties regarding the Ukraine-Russia war and US President Trump’s tariff threats. Support can now be spotted around the recent record highs at $2942 to $2940, which because of inverse polarity, might act as a…
Former Deputy Governor of the Central Bank of Sri Lanka (CBSL) Dr. W.A. Wijewardena is of the view that the government is constrained by its agreement with the International Monetary Fund (IMF) and the benchmarks set by the Economic Transformation Act, making it challenging to achieve the targeted revenue of 15.1% of GDP this year….
The Ceylon Chamber of Coconut Industries has urged the government for permission to import 200 million coconuts with the next few months. President of the Ceylon Chamber of Coconut Industries Jayantha Samarakoon said that the major reason for the current coconut shortage is the spike in fertilizer prices. Speaking at a media briefing held at…
Underwriting profitability for Sri Lankan non-life insurers will gradually improve as they enhance practices and shift focus to more profitable non-motor segments, Fitch Ratings says in a new report. This shift includes adjusting policy pricing, particularly for motor and medical insurance, to better cope with inflation and rising claim costs. Motor insurance profitability faces challenges…
President Anura Kumara has increased the Aswesuma (Relief) benefits as a Christmas gift, according to a social media post by his Media Director General, MP Najith Indika. Aswesuma refers to a transitional assistance provided to alleviate poverty using the taxes collected from the public, and not a gift distributed by politicians. Welfare benefits should not…
