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Sri Lanka looks to raise more tax at local government level
March 14, 2007 (LBO) – Sri Lanka is looking for ways for local government bodies to collect more taxes to as part of the strategy to take economic development to rural areas, the office of the president said Wednesday. President Mahinda Rajapakse had met chairmen of local government bodies yesterday to discuss ways to push […]
Sri Lanka rupee weakens; money rates ease
March 13 (LBO) – The rupee closed lower against the dollar but overnight call money rates came down from the previous day’s highs to around 16 to 18 percent on Tuesday dealers said. The government is expecting the proceeds of a 215 million dollar bond issue later this week. Updated-highest call rate/correction dollar rupee Call […]
Plastic Money
March 13 (LBO) – Visa International will give Sri Lanka’s 1.5 million plastic card market a boost, by issuing mini debit cards with Sampath Bank, officials said. Sampath says the card will be issued to all new customers who open accounts with the Bank and will be available to existing account holders. They could also […]
Competitive Drive
March 13 (LBO) – Intense competition among Sri Lanka’s telcos will drive growth, with Dialog leading the pack and lifting earnings of its parent Malaysia Telecom, the investment bank Morgan Stanley said in a report. Sri Lanka is expected to top foreign contribution to Malaysia Telekom with 13 percent, followed by Bangladesh at six percent […]
Armed police sent in to tackle latest Chinese riot
BEIJING, March 13, 2007 (AFP) – Police poured into a central Chinese city to quell riots sparked by rising bus fees, residents said Tuesday, in the latest incident to highlight rising social pressures in the fast-changing country. Detachments from the People’s Armed Police joined local security forces in Yongzhou city in Hunan province overnight Monday, […]
‘s interest
SEOUL, March 13, 2007 (AFP) – South Korean President Roh Moo-Hyun said Tuesday his government could scrap free trade talks with Washington if Seoul’s economic interests are not properly reflected in a final deal. Roh instructed his cabinet to consider “real economic benefits” in forging a free trade agreement (FTA) with the United States, saying […]
Bookies fear Ashes rivals in World Cup betting bonanza
LONDON, March 13, 2007 (AFP) – One of Britain’s leading bookmakers is hoping anyone other than England or Australia wins the Cricket World Cup. William Hill has estimated that more than 100 million pounds will be gambled on the World Cup. “Considering England’s recent on-off form it might surprise people that England are our worst […]
‘s shadow follows India and Sri Lanka
PORT OF SPAIN, Trinidad, March 13, 2007 (AFP) – Rahul Dravid and Mahela Jayawardene hope to step out of history’s shadow at the World Cup. India have not won the tournament since 1983 and this time round it is Dravid’s turn as skipper to attempt to break that long wait for a second title. The […]
Spin kings may give World Cup twist and turn
GROS ISLET, St Lucia, March 13, 2007 (AFP) – Just about the one thing captains at the World Cup seem to be agreed on is that pitches will generally be slow and assist spin bowlers. Last week both England skipper Michael Vaughan and Australia captain Ricky Ponting talked up the tournament prospects of their frontline […]
Senior Sri Lankan defence source warns of long campaign
March 13, 2007 (AFP) – A top Sri Lankan defence source warned Tuesday the current military campaign against the Tiger rebels could take up to three years as warplanes bombed rebel positions for a second day.There have been no comments from the Liberation Tigers of Tamil Eelam (LTTE), which have been fighting for an independent […]