- Last Update 2024-07-19 12:26:00
Colombo shares fall sharply on increasing taxes in amended budget
The Colombo bourse fell sharply in Friday’s early trading session, on the back of the mini budget which saw many increased taxes. The new fiscal plan for the year had many surprises while also accommodating the expected relief proposals as mentioned in their election manifesto. At the outset, especially for the investors in the equity market this revised budget is nothing short of a shocker with increased taxes and additional levies on alcohol manufacturers and telecos, brokers said. Analysts said that the introduction of the one off tax of 25 per cent on corporates and individuals who earned a profit of over Rs 2 billion for this financial year would have a significant impact on FY15E profitability of such company shares. The benchmark All Share dipped 2.39 per cent to 7,200.32 while the S&P dropped by 3.56 per cent to 3,987.68 on a Rs. 1.14 billion turnover by 11. 50 am. Turnover was boosted by interest in blue chips such as JKH.
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- July 11, 2024 - 1275 - 0
Colombo Fort Magistrate interdicted
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
- July 16, 2024 - 322 - 0
MP on open warrant turns up at school event
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
- July 12, 2024 - 278 - 0
SC refuses interim order on Judges appointments
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
- July 10, 2024 - 278 - 0
Deadline extended for G.C.E. A/L applications
The deadline for online applications to the 2024 G.C.E. Advanced Level (A/L) Examination has been extended until July 12, the Department of Examinations said.
- July 12, 2024 - 191 - 0
Gazette on new speed limit regulations to be issued within two weeks
Gazette on new speed limit regulations to be issued within two weeks
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