Development and Economic News
Jetstar Asia to Launch Direct Flights from Singapore to Colombo
Jetstar Asia has announced that it will become the only low-cost carrier to offer direct flights from Singapore to Colombo, Sri Lanka, starting on November 21, 2024.
Rs. 1,066 Billion in Defaulted Taxes for 2023
The Inland Revenue Department (IRD) has released a detailed report on the outstanding tax amounts as of December 31, 2023, providing clarity on the current tax arrears situation.
SL Ports Authority handles 1.54 million TEU amid regional competition
The Sri Lanka Ports Authority (SLPA) has addressed recent concerns regarding a perceived decline in transshipment volumes at the Port of Colombo, which some attribute to the expansion of regional ports in India.
International bondholders put forward SL mid-September ultimatum
In ongoing efforts to stabilise Sri Lanka’s financial future, the Steering Committee of the Ad Hoc Group of International Bondholders has stressed the urgent need to implement the Joint Working Framework for restructuring the country’s international bonds.
Colombo’s consumer price inflation drops to 0.5% in August
The overall rate of inflation as measured by the Colombo Consumers Price Index (CCPI) on a Y-on-Y basis has decreased to 0.5% in August 2024 compared to the 2.4% calculated for the month of July 2024, according to the latest data released by Sri Lanka’s Department of Census and Statistics.
Sri Lanka alcohol taxes pushing consumers into illicit liquor. drugs: DCSL chief
Sri Lanka’s high alcohol taxes are pushing the public who have been hit by an economic crisis, into illegal alternatives, Harry Jayewardena, head of Distilleries Corporation has said.
Jaffna flies high in air links, IndiGo to start daily flights from Chennai on September 1
IndiGo, a key Indian airline, will commence flight operations between Chennai and Jaffna starting from September 1, an official said.
BASL president accused of lacking transparency in JAICA fund controversy
The five-member-Special Committee appointed by the Bar Council of the Bar Association of Sri Lanka (BASL) over the controversial BASL-JICA issue has found that BASL President Kaushalya Navaratne PC has failed to act with transparency in relation to the contract entered into by the BASL with JICA and thus has violated the trust reposed in him as the President of the BASL.
Sri Lanka to sign cooperation agreement with IFC to boost SME exporters
Sri Lanka’s small and medium-sized enterprises (SMEs) are to be transformed into active exporters making use of their export potential with the assitence of International Finance Corporation.
India transfers first payment for Jaffna Hybrid Power projects
The first payment towards the implementation of the Hybrid Power Projects on three islands off Jaffna was handed over to Secretary, Minister of Power and Energy Sulakshana Jayawardena and Chairman of Sri Lanka Sustainable Energy Authority (SLSEA) Ranjith Sepala by the High Commissioner of India to Sri Lanka Santosh Jha.