Development and Economic News

Aimed at plugging tax loopholes strengthening tax collection process to meet fiscal targets

Cabinet green-light has been granted to amend Employees’ Provident Fund (EPF) Act to ensure a minimum of 9 percent annual interest rate to members during the four-year period from 2023 to 2026 period following Domestic Debt Optimisation (DDO).

Tuesday, 08 August 2023 07:35

Colombo stock market gains momentum

The Colombo stock market yesterday remained robust with gain in indices, healthy turnover and net foreign inflow nearing the Rs. 6 billion mark year to date.

Sri Lanka’s cabinet of ministers has approved a proposal to continue uninterrupted power supply islandwide while releasing maximum water levels possible from the Samanalawewa reservoir.

Creating automobile history, Ideal Motors will be launching Sri Lanka’s first electric car, ‘Moksha’ to the market in November 2023.

Minister of Power and Energy Kanchana Wijesekera stated that 15 Mega Watts of wind power was added to the national grid this morning (Aug 06) in Mannar.

Singer Sri Lanka PLC has partnered with vivo, a prominent global smartphone manufacturer, as their official National Distributor.

As per a report of the National Audit Office (NAO), the total losses incurred by the Mattala Rajapaksa International Airport (MRIA) between 2017 – 2022 amounted to Rs. 42.81 billion.

Plantation Industries Minister, Dr. Ramesh Pathirana unveiled a comprehensive plan to revitalise the export agricultural sector with an income of $ 2.8 billion from tea, rubber, coconut, and cinnamon in 2023.

The Indo-Sri Lanka Joint Project Monitoring Committee has taken a decisive step towards the implementation of the Sri Lanka Unique Digital Identity (SL-UDI) – a crucial milestone in the country’s digitisation drive.

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