A new report from the World Bank, Getting to Work: Unlocking Women’s Potential in Sri Lanka’s Labor Force, confirms that for women marriage can function as a deterrent to participation in labour markets. It can drastically lower a women’s odds—by 26 percentage points—of becoming a paid employee, while for men it...
Finance Ministry says the budget proposal on the importation of electric cars will be revised.Deputy Treasury Secretary S. R. Atygalle said it will be revised facilitating that one-year-old electric cars also get that tax concession. He revealed that the vehicle importers have informed the Ministry that Sri Lanka does not...
Nov 15, 2017    A recent World Bank report has found that removing barriers to women’s paid work will encourage more Sri Lankan women to participate in the workforce. The report, “Getting to Work: Unlocking Women’s Potential in Sri Lanka’s Labor Force” notes that, despite steady economic growth, the number of women participating...
Minister of Public Administration Vajira Abeywardene says that the salary of government servants would increase by 15 percent from next January. The Minister told in parliament yesterday (14) that an additional Rs.12 billion would be required on an annual basis, for this salary increase and pension. The Minister stated that the...
Police say that the two students who drove the ill-fated double cab and car involved in the recent fatal accident on Silva Lane in Rajagiriya will be charged. A senior police officer said that the two students will be charged with reckless driving and driving the vehicles whilst violating the...
Nov 15, 2017   Fitch Ratings says Sri Lanka’s beer industry will regain market share from hard liquor, following a more favourable tax regime. With the latest tax revisions and further changes, Fitch expects, the beer market share of total alcohol consumption in Sri Lanka, to increase by about 24%-25% in the...
The Cabinet of Ministers approved Ports and Shipping Minister Mahinda Samarasinghe’s proposal to amend the concessionary agreement signed related to the development of the Hambantota port through a Public Private Partnership (PPP). The investment value of the Hambantota port is currently agreed to be paid by the China Merchant Ports...
Sponsored: Judges from across Asia awarded real estate developers from the region for their leading examples of sustainability and urbanisation  Honourees from the PropertyGuru Asia Property Awards 2017 in Singapore stand for a group photo The PropertyGuru Asia Property Awards 2017 was held on the evening of November 8 in Singapore...
The government loses billions of rupees in terms of revenue to its exchequer due to tax evasion by some vehicle importers who import luxury vehicles under the used vehicles category, a minister said yesterday. State Finance Minister Eran Wickramaratne told Daily Mirror the government had identified the loss of revenue...
COLOMBO, Nov 13 (Reuters) - The Sri Lankan rupee closed little changed on Monday as dollar conversions by exporters were offset by importer demand for the U.S. currency and investors waited for more clarity on some budget policies announced last week, dealers said. The government imposed new taxes on motor...
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