Sri Lanka’s ‘Caa1’ sovereign rating has been place on review for downgrade by Moody’s citing weak external position and decreasing institutional strength.

The Government has published a Tax Amnesty Bill which would indemnify persons who voluntarily disclose taxable supply, income or assets, against liability from investigation, prosecution and penalties.

The government has infused fresh equity to the tune of Rs.45.7 billion to SriLankan Airlines in two tranches through April 2021, under the capital enhancement and restructure programme announced last year to help the airline stand on its own...

The Ceylon Petroleum Corporation (CPC) reported a net loss of Rs.45 billion during the first four months through April 2021, and the subject Minister had said the losses mounted to Rs.57 billion by May.