December 25, 2024 at 11:45 am | Uncategorized | No comment
In a recent address to Parliament, Sri Lanka’s President unveiled proposed reforms to the country’s Personal Income Tax (PIT) system. These changes include raising the tax-free monthly income threshold from LKR 100,000 to LKR 150,000, allowing lower-income earners to retain a larger portion of their income. Additionally, the reform aims to adjust the tax brackets, […]
Read moreDecember 21, 2024 at 12:02 pm | Uncategorized | No comment
Ipsos has confirmed ongoing discussions regarding the potential acquisition of Kantar Media, but no binding offer has been made yet, and it remains uncertain whether these discussions will lead to an agreement. Meanwhile, other companies have made notable acquisitions to expand their capabilities. For instance, Norstat has acquired PFM Research to enhance its position in […]
Read moreDecember 20, 2024 at 1:54 am | Uncategorized | No comment
Sri Lanka’s Colombo Port continues to grow in alignment with global maritime developments, with a significant investment from the Adani Group. The Adani Group acquired a portion of the West Terminal, which is expected to open in the first quarter of 2025. Despite facing financial challenges due to a fraud case in the US, S&P […]
Read moreDecember 18, 2024 at 11:50 am | Uncategorized | No comment
The Sri Lanka Ports Authority (SLPA) is looking for investors to build a second logistics center at Colombo Port next year, with plans for a third center thereafter. Chairman Sirimevan Ranasinghe revealed these plans at the Voyage Sri Lanka 2024 seminar, announcing the intention to invite investors for the Bloemandhal Center in early 2025. The […]
Read moreNovember 30, 2024 at 11:49 am | Uncategorized | No comment
Lufthansa Cargo welcomed its 18th Boeing 777 freighter at Frankfurt Airport in August 2024, marking a significant expansion of its long-haul cargo capacity. The aircraft was delivered directly from Boeing’s factory in Everett, Washington, to the airline’s primary hub, enhancing Lufthansa Cargo’s ability to meet growing global demand for freight services. In another development in […]
Read moreNovember 27, 2024 at 12:07 pm | Uncategorized | No comment
Hemas Holdings PLC recorded a total revenue of Rs. 54.4 billion, with operating profits reaching Rs. 5.0 billion and earnings amounting to Rs. 2.5 billion. The decline in revenue compared to the same period last year was attributed to cautious consumer spending and strategic price reductions, particularly within the Consumer Brands segment. Despite the revenue […]
Read moreNovember 26, 2024 at 11:01 am | Uncategorized | No comment
During the first nine months of 2024, Sri Lanka’s garment exports reached $3,479.0 million, marking a 4.0 per cent increase compared to the $3,345.5 million recorded during the same period in 2023, according to the Central Bank of Sri Lanka. However, textile exports experienced a year-on-year decline of 15.9 per cent, totaling $224.3 million. In […]
Read moreNovember 25, 2024 at 5:48 pm | Uncategorized | No comment
In the world of global commerce, steamship lines carry millions of containers filled with essential commodities, many of which move throughout North America by rail. However, a major challenge persists: visibility gaps in container location and event tracking. Without accurate, real-time information, delivering cargo on time and within budget becomes a significant hurdle for ocean […]
Read moreNovember 25, 2024 at 2:59 pm | Uncategorized | No comment
Sri Lanka’s Industrial Growth and Economic Trends – October 2024 The Index of Industrial Production (IIP) in Sri Lanka recorded a 7.0% year-on-year increase in October 2024, reaching 95.5. Key contributors to this growth included a significant rise in the production of coke and refined petroleum products (38.6%), wearing apparel (7.8%), and beverages (27.6%), according […]
Read moreNovember 23, 2024 at 3:46 pm | Uncategorized | No comment
Cargo theft has sharply risen by 33% in the second quarter of 2024, creating heightened concerns among shippers and trucking providers. A recent report by the Transportation Intermediaries Association (TIA) underscores the significant challenges the industry is facing in combating this growing issue. According to Anne Reinke, TIA’s president and CEO, the lack of government […]
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