Relaxation of the period applicable for exporters of goods to convert their export proceeds into Sri Lanka Rupees

Taking into consideration  the macro-economic developments, in particular the developments in domestic foreign exchange market conditions, Central Bank of Sri Lanka issued the “Repatriation of Export Proceeds into Sri Lanka Rules No. 01 of 2024” (Rules), which was published in the Gazette Extraordinary No. 2391/02 dated 01.07.2024, in terms of the Central Bank of Sri Lanka Act, No. 16 of …

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Record-Breaking Customs Revenue: Rs.1000 Billion Achieved

For the first time in history, Sri Lanka Customs has achieved record revenue of Rs.1, 000 billion (Rs. 01trillion) during the first eight months of this year, thanks to the opportunity given to the administrative authority and officials to operate independently without external interference. The International Monetary Fund (IMF) has set a revenue target of Rs.1, 534 billion for 2024. …

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Record-Breaking Customs Revenue: Rs.1000 Billion Achieved

For the first time in history, Sri Lanka Customs has achieved record revenue of Rs.1, 000 billion (Rs. 01trillion) during the first eight months of this year, thanks to the opportunity given to the administrative authority and officials to operate independently without external interference. The International Monetary Fund (IMF) has set a revenue target of Rs.1, 534 billion for 2024. …

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Future Investment Company to Include State Assets

President Ranil Wickremesinghe announced plans to establish a new investment company that will manage state assets, ensuring that the rights of the people are protected. He also stated that new laws would be introduced to support this initiative. Additionally, the President highlighted the potential for new investments that will generate assets and help create a structured retirement planning system. These …

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It’s the People’s Responsibility to Support the Government’s Program to Rebuild the Country’s Economy

President Ranil Wickremesinghe emphasized the strength and talent of his team, asserting that they are well-equipped to overcome any challenge facing the country. Speaking at the 37th Annual Conference of the Organization of Professional Associations of Sri Lanka (OPA) at the Shangri-La Hotel, Colombo, The President highlighted the critical role of public support in ensuring the success of the government’s …

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Dr. Nandalal Weerasinghe earns ‘A’ grade in Global Finance’s Central Banker Report Cards 2024

Global Finance magazine has released the names of Central Bank Governors who earned the highest grades, “A+”, “A” or “A-”, in the Central Banker Report Cards 2024. The full Central Banker Report Cards 2024 grade list will appear in Global Finance’s October print and digital editions as well as online at GFMag.com. The Central Banker Report Cards, published annually by …

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Sri Lanka Achieves $9 Billion in Export Income in First Half of 2024

State Minister for Investment Promotion, Dilum Amunugama, announced that Sri Lanka has secured an export income of USD 9 billion in the first six months of this year. He also highlighted that investment agreements totaling approximately USD 800 million have been signed during the same period. State Minister Amunugama shared this information at a press briefing titled “Two Years of …

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Sri Lanka Seeks Economic Cooperation Agreements from Japan to India, Aiming for Closer Integration with India

President Ranil Wickremesinghe emphasized the importance of strengthening economic cooperation and regional integration from Japan to India, with a special focus on deepening ties with India. The President made these remarks while addressing the Head of State Session of the 3rd Voice of Global South Summit, held under the theme “An Empowered Global South for a Sustainable Future.” Speaking from …

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Sri Lanka Purchasing Managers’ Index (Manufacturing and Services) – July 2024

Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in July 2024. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 59.5 in July 2024, indicating a continuous expansion in manufacturing activities. All sub-indices contributed positively to this improvement. Sri Lanka Purchasing Managers’ Index for Services (PMI – Services) indicated a further …

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Relief for Personal Income Tax Expected Soon, President Announces at University Lecturers’ Conference

In a landmark keynote address at the University Lecturers’ Conference held at the Water’s Edge Hotel yesterday evening (13), President Ranil Wickremesinghe revealed plans to provide relief for personal income tax in the near future. The President mentioned that two proposals, currently under review by the Treasury and the counter proposal by the International Monetary Fund (IMF) are being considered …

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