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EDB proposes tax cut on incremental export increases to encourage exporters

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Some form of a tax relief on incremental exports is the least that could be granted by the government from the upcoming budget given its fiscal constraints to incentivise exporters who continuously strive to add more capacity and bring foreign exchange at this critical juncture, according to the Export Development Board (EDB) .

Speaking at a pre-budget forum held recently, EDB Chairman Suresh de Mel said this proposal had been there on the cards for some time and would prove very useful if it could be implementedin earnest.

“There are some things we can do that is not going to cost that much. One of them is to give some sort of a tax relief on incremental exports,” de Mel told a webinar organized by the Institute of Chartered Professional Managers of Sri Lanka.

At present, export incomes are taxed at 14 percent compared to 24 percent charged elsewhere for corporate income tax purposes. Although not linked to taxes, a year ago, the EDB proposed an Export Development Reward Scheme with the intention of encouraging export volumes by way of paying an additional 2% and 3.5% on their incremental export earnings for large and small and medium sized exporters respectively.

After a brief setback suffered in April and May this year due to the virus resurgence, Sri Lanka’s exports earnings have continued to exceed a billion dollars in the three consecutive months through August.

EDB chief said the export earnings are on course to achieve the year-end target.

Speaking further de Mel said the current suspension of fresh recruitments into the State sector due to fiscal challenges could not have come at a better time when the private sector is grappling with a persistent labour shortage, which has forced companies to operate below capacity.

“The private sector has a big labour shortage and I think this will give the private sector some labour that would otherwise be working for the government. So, I think again this is not a cost but a saving, and might give the export sector the workforce for their expansion and exports increases”, de Mel added.

Speaking on the way forward for exports, he emphasised on the need for developing exportable quality products via continuous value addition and tapping niche markets for durable success as Sri Lanka is not a major manufacturing powerhouse.

In this backdrop, he called for budgetary support for the expansion of EDB’s ongoing Export Production Villages programme, establishment of Export Houses, which functions as intermediaries in the exports supply chain, and in marketing and promotional endeavours including the emerging social commerce, which has gained more traction as a result of the pandemic.



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SEC and CSE continue drive to broad base stock market

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Galle Investor Forum panel discussion undertaken by (L – R) Ms. Kaveena Nanayakkara, Snr. Research Analyst, NDB Securities (Pvt) Ltd.; Suneth Perera, Actg. Director – Supervision, SEC; and Niroshan Wijesundere, Senior Vice President – Marketing, CSE.

The Securities and Exchange Commission of Sri Lanka (SEC) and Colombo Stock Exchange (CSE) recently conducted more investor forums in Galle, Badulla, Ratnapura, Gampaha, Kegalle & Kuliyapitiya.

These events aim to raise awareness on investor protection, educate the public on how to invest in the stock market, and leverage on the opportunities present in the capital market. The forums attracted over 800 participants collectively, providing valuable insights to both potential and existing investors in the said regions.

Each forum also featured a senior SEC representative who provided an overview of the SEC’s role in the equity market, investor protection, and the conduct expected from investors and traders. Mr. Suneth Perera, Acting Director – Supervision, SEC, spoke at the forums in Galle and Badulla, while Nimal Kumarasinghe, Manager – External Relations, SEC, spoke at the forums in Ratnapura, Gampaha, Kegalle and Kulipitiya.

Potential investors and first-time investors were also provided with an opportunity to learn about Unit Trust Investments and their potential for higher returns through the rising capital market. Speakers at the forums included Naleen Sadesh, Portfolio Manager – Investments, Asset Trust Management (Pvt) Ltd at the Galle and Badulla investor forums; Ms. Suresha Fernando, Fund Manager and Ms. Hansini Aravinda Snr., Financial Analyst of CT Smith Asset Management Ltd at the Gampaha forum; and Dilan Jayakody Senior Business Development Manager of JB Financial (Pvt) Ltd at forums in Ratnapura, Kegalle and Kuliyapitiya.

The forums also featured in-depth analyses of sectoral performance and market opportunities by leading stock brokering firms, which highlighted the opportunities provided by the low-interest rate environment that made the capital market more attractive than traditional investment options with declining returns. Speakers at the forums included Ms. Kaveena Nanayakkara – Snr. Research Analyst of NDB Securities (Pvt) Ltd at the Galle, Badulla and Kuliyapitiya Investor Forums; Kapila Pathirage, Director – Sales, HNB Stockbrokers (Pvt) Ltd at the Ratnapura Investor Forum; Iranga Fernando, Research Analyst at Bartleet Religare Securities (Pvt) Ltd at the Gampaha forum; and Chamath Wickrama Arachchi, Research Analyst at Asha Securities Ltd at the Kegalle investor forum.

The main feature of each of the forums was an interactive panel discussion with the participation of members of the SEC, CSE and leading stock-brokering firms. The Badulla and Gampaha forum panelists; Suneth Perera, Acting Director – Supervision, SEC; Niroshan Wijesundere, Senior Vice President – Marketing, CSE; Naleen Sadesh; and Ms. Kaveena Nanayakarra, with the Galle Forum moderated by Priyantha Heenpella and the Badulla forum moderated by Jeewan Chathuranga.

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The Ritz-Carlton Yacht Collection makes their maiden call to Sri Lanka with Aitken Spence Travels, docking at Colombo & Galle

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Aitken Spence Travels marked a significant milestone with the handling of The Ritz-Carlton Yacht Collection’s first call to the ports of Colombo & Galle, on the 14th & 15th of December 2025. This inaugural visit reflects Aitken Spence’s ongoing efforts to introduce world renowned, ultra-luxury cruise brands to Sri Lanka, elevating the country’s profile within the high-end, global cruise travel segment, and establishing Sri Lanka as the ideal, multiport destination for luxury travellers.

Celebrated internationally for its unmatched elegance and refined modern luxury, The Ritz-Carlton Yacht Collection offers a premier experience that merges the exclusivity of a private super yacht with the acclaimed service excellence of The Ritz-Carlton brand. The Collection’s arrival in Sri Lankan waters represents a significant step towards attracting a new demographic in the cruise travel segment, welcoming high-end, discerning travellers to the island.

Aitken Spence Travels is the official shore excursion provider for these idyllic calls to Colombo & Galle. In recent years, the company has placed a strong emphasis on developing the luxury cruise segment, fostering relationships with prestigious brands and showcasing Sri Lanka’s potential as an ideal destination for premium ocean journeys. The upcoming visit by The Ritz-Carlton Yacht Collection is a remarkable testament to the continued efforts of the company in promoting Sri Lankan tourism.

Commenting on the historic arrival of The Ritz-Carlton Yacht Collection to Sri Lanka, Nalin Jayasundera, Managing Director of Aitken Spence Travels, stated “We are truly thrilled to welcome The Ritz-Carlton Collection to Sri Lanka on their maiden voyage. This milestone reflects the hard work and dedication of our team in positioning Sri Lanka within the luxury cruise travel segment. It is a significant endorsement of our country as a destination-of-choice, particularly at such a critical moment, bringing high-net-worth travellers to experience the island’s diversity through bespoke, privately curated shore excursions.”

Chairman / Chairperson Ms. Stasshani Jayawardena added “We are delighted that Aitken Spence Travels is leading the way as Sri Lanka’s premier destination management company, taking the first step in a long journey towards expanding the high-end cruise segment. Our commitment lies in creating unique, culturally immersive private tours that ensure guests leave with unforgettable memories of our island paradise.”

The yacht’s arrival is expected to draw considerable international attention, reinforcing Sri Lanka’s reputation as a unique and compelling destination for luxury exploration. Aitken Spence Travels looks forward to curating exceptional onshore experiences for Ritz-Carlton guests and is positioned to continue attracting world leading cruise brands to Sri Lanka.

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Bureau Veritas Lanka wins Great HR Awards 2025 for its people-centric culture

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L-R: Nishani Gunatilleka, Asst Manager - HR & Admin; Sidath Wimalananda, Snr Manager - Business Development; Sonali Nakandala, Head of Innovation; Isuru Chandrasiri, Manager - HR & Admin; Dulshan Ramanayake, Snr Executive - HR & Admin

Bureau Veritas Consumer Products Services Lanka (Pvt.) Ltd, part of Bureau Veritas, has been honored with the Great HR Awards – 2025 by the Chartered Institute of Personnel Management (CIPM) Sri Lanka, marking a significant milestone in the company’s approach to employee development and workplace culture.

This is the first time Bureau Veritas CPS has received national recognition for its best-in-class people practices, acknowledging years of dedicated work in building an organization where people genuinely matter and can grow both personally and professionally.

Competing in the “Educational, Certification & Advisory Services” sector under the large category, Bureau Veritas stood out among leading industry players by demonstrating exceptional HR practices and a clear commitment to putting employees first in everything the company does. The award followed a thorough evaluation process covering 16 different assessment areas designed to measure how well organizations manage and develop their people.

Several key programs have been central to achieving this recognition. The “Adding Life to Years” Leadership Development Program focuses on building capable leaders at every level of the organization, preparing people to handle challenges and guide their teams effectively. The “HRtogether” Forum creates regular opportunities for honest conversation and problem-solving, where employees and HR work together to address real workplace issues. The “Together We Grow” initiative reflects a simple truth: when employees develop and succeed, the entire organization benefits.

Over the past several years, Bureau Veritas has worked to create a workplace where employees feel valued, heard, and supported. The company’s approach rests on three core ideas that guide all HR initiatives. Empowerment means giving people real authority to make decisions and own their work, trusting them to contribute in ways that matter.

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