After months of legal wrangling on the proposed sale of Sri Lanka Telecom (SLT) shares by Japan's NTT Communications Corporation to Global Telecommunications Holdings NV (GTH), the Supreme Court on Monday terminated the fundamental rights petition filed by the late MP Sripathi Sooriyarachchi...

Tax officers being ‘nice and friendly’ to the public and the prevention of tax frauds like the Rs 3.57 billion VAT scam is high on the list of priorities of the new Commissioner General of Inland Revenue S. Angammana, described in tax circles as ‘scrupulously’ honest.

A 7-member Technical Evaluation Committee (TEC) has been appointed by the Ministry of Petroleum and Petroleum Resources Development to evaluate the bids from three foreign companies for oil and gas exploration in Sri Lanka. The three companies...