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Sri Lanka John Keells Holdings project gaming tax policy set out
July 19, 2013 (LBO) – Profits from gaming at a large resort to be built by John Keells Holdings in Sri Lanka’s capital Colombo will be charged corporate taxed at “applicable rates”, but rents would be exempt, a government notice said. A similar resort in Colombo, Lake Leisure Holdings, in a joint venture between Australia’s […]
Sri Lanka Crown project gets investment nod, tax breaks
July 19, 2013 (LBO) – Sri Lanka’s Lake Leisure Holdings (Pvt) Ltd, a gaming resort joint venture with Australia’s Crown group is being given sweeping tax breaks according to a government notice.Sri Lanka is expecting to boost up market tourists with gaming resorts which analysts say will push up city hotel rates, but other support […]
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SYDNEY, July 19, 2013 (AFP) – Prime Minister Kevin Rudd Friday announced that no more boatpeople will be resettled in Australia as refugees, with all unauthorised arrivals to be sent to poverty-stricken Papua New Guinea.Australia will also contribute funds to reform the impoverished Pacific nation’s university sector and support other health, education and law and […]
Anti Migrant
July 19, 2013 (LBO) – Boat people arriving in Australia from countries like Sri Lanka and others may be settled in Papua New Guinea and other developing countries, media reports said. AFP news agency quoting the Australian Broadcasting Corporation said Australia has struck a deal with PNG Prime Minister Peter O’Neill to process and settle […]
European lawmakers press Sri Lanka to probe war crimes
COLOMBO, July 19, 2013 (AFP) – European parliamentarians Friday asked Sri Lanka to deliver on promises to investigate allegations of war crimes and ensure ethnic reconciliation more than four years after crushing Tamil separatists.A delegation of EU lawmakers requested Colombo ensure accountability in the face of what the UN calls “credible allegations” of up to […]
Sri Lanka exports down 1.5-pct, apparel up in May
July 19, 2013 (LBO) – Sri Lanka’s exports fell 1.5 percent to 793.9 million US dollars in May 2013 from a year earlier, but apparel exports rose 2.1 percent to 318.9 million US dollars, official data showed. Agricultural products exports fell 6.8 percent to 197.9 million US dollars in June from a year earlier, rubber […]
Port Road
July 18, 2013 (LBO) – A 260 million dollar circular highway around Sri Lanka’s Northeastern port city of Trincomalee will be built by a Chinese contractor with financing from the Industrial and Commercial Bank of China, a minister said.Information minister Keheliya Rambukwelle said the cabinet of ministers had awarded the building contract to Hunan Road […]
Micro Oversight
July 18, 2013 (LBO) – Sri Lanka will begin regulating micro financing institutions with large entities coming directly under the central bank information minister Keheliya Rambukwelle said.A third category coming under the Commissioner of Co-operative Development and Registrar of Co-operative Societies, Divineguma Department will be exempted from Central Bank regulations. They will come under existing […]
Ranking
July 18, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon said it had been ranked as one of the 1,000 top banks in the world by UK-based The Banker Magazine, ahead of other domestic banks. Bank of Ceylon has over 10 million customers and is the largest commercial bank by assets in Sri Lanka. […]
‘s northern agri-biz fair set to go
July 18, 2013 (LBO) – An agri business fair in Killinochchi, a former war zone in the northern Sri Lanka is ready to open on July 26 with all stalls filled, its organizers said.The event has been supported backed by the Governor of the Northern Province, the military and state officials, the organizers said. The […]