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Mon02272017

Last updateMon, 27 Feb 2017 7am

Business News

The Finance Minister says economic benefits will be given to public through the next budget.

Finance Minister Ravi Karunanayake says the national economy will be directed to the right path by the next budget and economic benefits will be given to the public. At a discussion held in the Ministry he said price of cigarette has been increased by seven rupees and the government expects 22 billion rupees annually from this price increase.

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An MOU between Sri Lanka and South Korea to enhance cooperation in the defence sector.

An MOU has been signed between Sri Lanka and South Korea to enhance cooperation in the defence sector. Visiting Chairman of the South Korean National Defence University Leutinent General Vee Sung Ho met State Minister of Defence Ruwan Wijewardena and held discussions of the important matters.

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The Finance Minister of New Zealand commends the strategic plan of Sri Lanka to increase investment opportunities.

Finance Minister of New Zealand Bill English has commended the strategic plan of Sri Lanka to increase investment opportunities.

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Cabinet approval sought to increase cigarette Price by 5 rupees

The cabinet approval has been sought to increase Tax on Tobacco. The cabinet has appointed a subcommittee to look into all connected issues and report back to cabinet. The cabinet sub committee has submitted its recommendation to increase Cigarette Price by 5 rupees of all varieties and 15 percent increase on VAT. A cabinet paper incorporating 5 rupee price hike and  15 percent VAT increase on Tobacco will be submitted on Tuesday.

Colombo ranked as the 4th fastest growing destination


Colombo has been ranked as the fourth fastest growing destination in the world. According to the annual Mastercard Global Destinations Cities Index released recently,

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Use water sparingly - NWSDB

The National Water Supply and Drainage Board has urged the public to use water sparingly.  The prevailing dry weather condition has immensely affected the water supply.

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Korea invited for more investment in Sri Lanka.

Minister of Development Strategies and International Trade Malik Samarawickrama underscored Sri Lanka’s interest to further strengthen economic relations with Korea, at a meeting with the Korean Deputy Prime Minister and Minister of Strategy and Finance Yoo Il-ho recently in Seoul. 

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A big demand for the Sri Lanka's fish products from Europe.

Minister Mahinda Amaraweera states that Sri Lanka's fish production has a big demand from the Europe. He added that the government has allocated more funds to improve fisheries sector with the view of increasing the fish production. The Minister also said that the fishing communities are being given a subsidy after 20 years.

Many programmes to create self employment opportunities are implemented.


Many programmes to generate self employment opportunities have been commenced for the benefit of general public. Primary Industries Minister Daya Gamage said these self employment opportunities are created in such a way that a person can earn around 75,000 rupees per month.

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Minister Rajitha Senarathne says that the bill on vat was approved in the cabinet. It will only for 9 months.

Minister Rajitha Senarathne says that the bill on vat was approved in the cabinet. He added that the vat will be charged for only 9 months. Afterwards, the system will be more simplified and more concessions will be granted to the general public. Minister Senarathne further said that the recent vat bill was prepared concerning the public grievances. The previous government has borrowed money not only through the treasury. According to the investigations 1.3 trillion rupees need to be paid for the loans of the previous regime.

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