In a major investment drive, the government is considering bringing back tax holidays — this time two years instead of the previous five — for locals and foreigners who bring in investment projects in excess of US$ 50 million (Rs. 16 billion) along with duty-free vehicles.
Gas World (Pvt) Ltd., a leading provider of industrial gases and healthcare solutions in Sri Lanka, announced the successful installation and commissioning of five cutting-edge Cryogenic Oxygen Tanks at hospitals across the nation in September 2023.
Leading global professional services firm Alvarez & Marsal (A&M) has been appointed by the Government of Sri Lanka’s State-Owned Enterprise Restructuring Unit (SRU) to advise on the divestiture of the Government’s shareholding in the state-owned Sri Lanka Insurance Corporation (SLIC).
The Central Bank of Sri Lanka (CBSL) has banned 9 entities including the OnmaxDT and MTFE SL Group that have conducted pyramid schemes which are prohibited in the country.
Rising interest rates and declining export demand are dampening the economic resurgence of numerous Asian economies in the aftermath of COVID-19. But for Sri Lanka, the only country in the region to default on its official debt amid the economic squeeze caused by the pandemic however the outlook is considerably brighter.
Peoples’ Bank has denied reports expressed in social media on its non-performing loan (NPL) write-offs.
Sri Lanka ranks 104th out of 125 developing and least developed countries (LDCs) in its implementation of trade facilitation measures over the last six years, a new study by Verité Research has found.
Ten entrepreneurs who received intensive help from the United States Agency for International Development (USAID) and Good Life X (GLX) business accelerator to develop their climate adaptation ideas displayed their results in a Demo Day event on August 2.
The minister of finance has issued orders to temporarily suspend or limit certain outward remittances of foreign exchange.
The European Commission has suggested a four-year extension to the Generalised Scheme of Preferences Plus (GSP+) for Sri Lanka.
