Last week, Sri Lanka’s Finance Minister announced plans to remove the 15 percent land leasing tax for foreign investors, and reduce the approval period for foreign direct investment requests.

Sri Lanka has done a budget for 2016 without being controlled by the International Monetary Fund, which could also help the country if it wished, Finance Minister Ravi Karunanayake said.

U.S. Permanent Representative to the United Nations Samantha Power commended the commitment of the Sri Lankan government for a sustainable reconciliation during past ten months.

It has been reported that more than 20 office trains had been cancelled this morning (24).

Bridging the gulf that divides Tamil and Sinhalese population in Sri Lanka is essential for the wellbeing of the country, former President of Sri Lanka, Chandrika Bandaranaike Kumaratunga, has said.

A Rs. 5,000 annual emissions tax will only be charged from vehicles with more than four wheels, Finance Minister Ravi Karunanayake says.

The Inland Revenue Department has indicated a likely increase in charges for electricity, telephone calls and hotel services, among others, with the increase in VAT proposed in Budget 2016.

Executive Chairman of the Litro Gas Co Mr Shalila Munasinghe said that as per the provision made in the Budget – 2016 presented by the Finance Minister Ravi Karunanayake Gas prices have been reduced with effect from today.

US Representative to the United Nation Samantha Power, who is on a three-day visit, Tweeted that she urged Chief Minister of Northern Province C.V. Wigneswaran to ‘help reinforce Sri Lanka’s precious moment for reconciliation and rebuilding’.

Presidential Commission of Inquiry to investigate and inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges has dropped investigations into at least 15 cases on the grounds that the state didn’t suffer revenue losses due to those transactions.

The prices of liquor both Arrack and beer had been increased with immediate effect as proposed in the 2016 budget that was announced on Friday.

Sri Lanka Saturday announced it had significantly scaled back a list of foreign-based “terrorists” as part of reconciliation efforts with its largest ethnic minority, the Tamils.

The government says it would find the billions of dollars that the Rajapaksas had allegedly hidden in many foreign countries, no matter how long it took.

The 70th budget, the first ever budget of the National Government presented by Finance Minister Ravi Karunanayake in Parliament yesterday, proposes to provide relief to people by reducing the prices essential commodities.

The case of m.v. Avant Garde, a “floating armoury”, has acquired a new dimension since the Sri Lankan Navy boarded the vessel on October 6 to discover a massive stash of weapons on board.

Second Reading of the Appropriation Bill for Budget 2016 (Budget Speech) will take place today (20) at the Parliament, said the Deputy Secretary-General of the Parliament Mr.Neil Iddawala.