Sri Lanka’s Payments Landscape Once Again Revolutionized by LankaClear

Members of PEN along with the dignitaries ( L-R )   Dinuka Perera, DGM IT and Operations of LankaClear;   Tharaka Ranwala, Snr. DGM-Consumer Banking – Sampath Bank PLC; Ms. Damitha Kumari Rathnayake, General Manager/CEO – National Savings Bank;   D Kumaratunge, Director Payments and Settlements – CBSL;   Channa de Silva, GM/ CEO – LankaClear; and   Ravi De […]

Setting industry benchmarks through pioneering digital creativity

  (By Savithri Rodrigo)   Kingsbury’s Indulgence app a first for the hospitality industry in Sri Lanka Team spirit rallies to deliver unparalleled service in a digital milieu   With extended curfew in force, Karen Whyte was most disappointed when she couldn’t visit her favourite hotel anymore but had the best surprise when her craving […]

Ciggi, Liquor Sales Down in 2019 – CBSL

Easter Sunday Attack a major factor Cigarette and alcohol sales within Sri Lanka have come down during 2019 reports  the latest Annual Report of the Central Bank of Sri Lanka (CBSL). “In response to lower demand for tobacco products caused by price hikes, legal restrictions, increased taxes on tobacco products as well as growing health […]

Govt.’s special relief schemes more benefitting the non-poor

Although we have alleviated poverty by providing assistance to the hand-to-mouth segment, this is not going to help revive the agricultural sector   World economies are already handicapped. The impact of COVID-19 is greatly felt by the Sri Lankan economy as well. However, despite its massive debt burden, the Government of Sri Lanka (GoSL) recently […]

Economic fallout of COVID-19

Pre-existing problems  According to experts, Sri Lanka’s pre-existing economic problems will exacerbate the COVID-19 recession. According to Murtaza Jafferjee, CEO of JB Securities and a director at Colombo Stock Exchange (CSE), Sri Lanka has needed major structural reform for years. “Sri Lanka’s economic policy has been protectionist and nationalist since the beginning of the war. […]

World Bank forecasts serious impact to Sri Lanka

The World Bank has forecast that Sri Lanka and other South Asian countries are likely to record their worst growth performance in four decades this year due to the coronavirus outbreak. The World Bank said in its South Asia Economic Focus report that the South Asian region, comprising eight countries, is likely to show economic […]

Government introduces tax revisions including APIT instead of PAYE

In a bid to increase tax revenue  curtailed by recently introduced  tax relief measures, the Inland Revenue department has announced several tax revisions with retrospective  effect from January 01 2020. The Pay As You Earn (PAYE) tax scrapped in November last year has been re-introduced as an Advance Personal Income Tax (APIT) to be paid […]

Sri Lanka: Victory Against the COVID 19:

Get Ready for Hardworking to Make the Country Better The Coronavirus COVID-19 outbreak has become the most devastated disaster in the world and its socio-economic development recent past, affecting millions of people in different ways with different intensities. By today (10th April 2020) it has create the shocking dead for nearly 102,051 people in the […]