Fitch Ratings has noted that political risks to Sri Lanka’s debt restructuring process have reduced following the authorities’ endorsement of the IMF programme targets and agreement to proceed with debt restructuring terms established with international bondholders in September. The election of Anura Kumara Dissanayake as president in September had initially caused uncertainty, raising concerns over
Kelani Cables PLC has successfully continued its award-winning Kelani Saviya skill development CSR program for the 17th consecutive year, enrolling 70 students for its 12th intake at a recent ceremony held at the University of Peradeniya. The program was launched with a total sponsorship of Rs 1.7 million. The inauguration ceremony took place at the
Sri Lanka is poised to achieve close to 4% economic growth by the end of 2024, continuing its positive momentum, according to Central Bank Governor Dr. Nandalal Weerasinghe. Speaking at an event organized by CMA Sri Lanka last week, Weerasinghe highlighted that all leading indicators suggest sustained positive growth in the second quarter and throughout
Sri Lanka aims to increase direct tax collection to 40 percent by 2025 from the current 30 percent, through expanded tax nets and legal actions against tax evaders, according to State Finance Minister Ranjith Siyambalapitiya. Direct taxes, levied on individuals with higher incomes and significant asset ownership, are set to play a crucial role as