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Sunday, 26 June 2016

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PLUNGE: The Sterling Pound plunged Rs. 21 against the rupee on Friday. There can be implications for Sri Lanka’s borrowing costs in international capital markets, Lankan economists said.

Sri Lanka needs to adjust trade arrangements

Sri Lanka will have to adjust to the new EU/UK trade environment and ensure the island’s exports keep moving favourably. “There are various issues Sri Lanka should seriously look at in the process of re-establishing its trade links with the UK and also with the EU,” biz leaders told the Business Observer.

 

Apparel exports may be affected

The exit of the United Kingdom, the fifth largest economy in the world, from the European Union, which is the biggest market in the world, will affect trade, finance, security and geopolitics. The initial reactions of the currency and the commodity markets reflect great volatility.

 

Four gurus at CASL Strategy Summit

Four globally renowned speakers will be at the Strategy Summit 2016 in July 26 and 27 organized by the Business School of the Institute of Chartered Accountants of Sri Lanka (CASL). Dr. Sunil Erevelles, Martin Roll, Sam Dias and Omid Ghamami will help corporate leaders in Sri Lanka and the Asian region to redefine their organisations strategy,

 

RPCs propose hybrid structure

Estate worker remuneration:

The Regional Plantation Companies (RPCs) have put forward a modified proposal on the wages of estate/plantation sector workers, which via a hybrid solution attempts to bridge the gap between the demands of the unions and the need for productivity improvement emphasised by the RPCs since the inception of the current round of wage negotiations.

 

Measures to automate revenue collection

New Inland Revenue Act:

The new Inland Revenue Act to infuse more clarity and attract investors, will be ready by September this year, Finance Minister Ravi Karunanayake said last week while addressing the media on Deemed VAT introduced by the government to bring non-VAT registered small businesses and VAT registered enterprises to the same level.


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