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Business News (242)

Sri Lanka Customs have raided 13 leading jewellery-making institutions and seized a stock of gold smuggled into the country and a fine of Rs. 4.5 billion is to be imposed in this regard

A new report by the Parliamentary Committee on Ways and Means highlights a shortfall in government tax revenue for 2023.

A consortium comprising top blue chips John Keells Holdings, Hayleys and Aitken Spence is to be considered to majority own and manage national carrier SriLankan Airlines.

Dialog Axiata PLC, a leading connectivity provider, has been awarded the tender of virtual private network (VPN) hosting of Sri Lanka Police Department recently.

Tea production in April has dropped to a four year low of 21.46 million kilos, which is also the lowest since the COVID-19 lockdown year of 2020.

The Bank of Ceylon (BOC) has decided to divest the 100% shareholding in BOC Travels Ltd. Number of shares in issue in the subsidiary is 250,004 worth Rs. 2.5 million at cost.

The Government is considering taking back loss making plantation companies and is to appoint a committee to make recommendations on the matter.

The China-Sri Lanka Joint Research and Demonstration Center for Water Technology (JRDC) was inaugurated at the University of Peradeniya, heralding a new era of collaboration and innovation in water research.

The Government is planning to pass a law implementing vehicle import standards to prevent malpractices and irregularities in the current process before removing the present restrictions finance ministry sources said.

Ceylon Petroleum Storage Terminal Company’s (CPSTL), probable irregularities within the fuel distribution system has had an indirect impact on fuel consumption data countrywide which was a significant drop due to decline in demand , ministry of power and energy sources highlighted.

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