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Legal Boost
Mar. 20 (LBO) — The modernisation of the main piece of legislation that governs the incorporation and running of Sri Lankan companies would substantially boost capital market activities, corporation law experts have said A draft bill to replace Sri Lanka’s antiquated Companies Act, which has been 13 years in the making, is due to be […]
Comfort Letter
Mar. 20 (LBO) – Sri Lanka’s telecommunications regulator has upheld two private fixed operators’ claim to import handsets duty free, and blocked the country’s main investment body’s move to tax the instruments, a top official said. Last month, Board of Investment of Sri Lanka (BOI) slapped a 33 percent import duty on Code Division Multiple […]
Sri Lanka puts off vote in troubled regions
Mar 20 (AFP) – Sri Lanka’s elections department Monday put off for six months scheduled local government polls in the island’s embattled northern and eastern regions, large areas of which are under the control of Tamil Tiger guerrillas.The vote due on March 30 was postponed till September 30, officials said. They said the decision followed […]
Sri Lanka mock rescue ends in tragedy
Mar 20 (AFP) – A Sri Lankan airforce officer drowned Monday after falling from a helicopter during a search and rescue exercise, officials said.The man was descending down a cable when it snapped and sent him crashing into the Indian Ocean, a rescuer said adding that the training mission had turned into a real life […]
It’s a curse
Mar. 19 (LBO) – A prominent parliamentarian representing the minority Tamil community had branded a controversial government decision to tax television programs imported for the entertainment of minority communities as discriminatory.“It is absurd and discriminatory,” said N Raviraj member for the Jaffna district representing the Tamil National Alliance. The government has decided to charge a […]
‘s a curse
Mar. 19 (LBO) – A prominent parliamentarian representing the minority Tamil community had branded a controversial government decision to tax television programs imported for the entertainment of minority communities as discriminatory.“It is absurd and discriminatory,” said N Raviraj member for the Jaffna district representing the Tamil National Alliance. The government has decided to charge a […]
Not all negative on growth prospects for 2006
Mar. 19 (LBO) – Out of more than 1200 readers who responded to an online poll on LBO (33.57 percent) has said Sri Lanka would not achieve 8 percent growth in 2006, while one-sixth (16.98 percent) said the country would never reach 8 percent economic growth. The definite nay sayers totaled 50.55 percent. Meanwhile another […]
Tick Tock
Mar 18 (LBO) – Energy consultant Thilak Siyambalapitiya joins in the lively debate on the link between electricity usage and Sri Lanka’s decision to turn back the clock after ten-years. Hence the reasons to retain the present timing at GMT+6 are very strong indeed. There is absolutely no truth in the reported claim that school […]
Good Marks
Mar. 17 (LBO) – Sri Lanka’s Central Finance Company Ltd., picked up a A+(sri) credit rating from Fitch Ratings Lanka Ltd for their senior unsecured long-term debt, the agency said Friday. While an A (sri) rating indicates low credit risk, Central Finance is still vulnerable to external changes like shifts in macro economic conditions, Fitch […]
Sri Lanka splashes US$ 1 mn to lure Indian holidaymakers
Mar 17 (LBO) — Sri Lanka will launch a US$ 1 million ad campaign into India on Saturday, to entice travelers from Delhi, Mumbai and Bangalore to come experience the island. -Zainab Ibrahim: zainab@ The country, famed for its beaches, cultural tourism and wildlife holidays, is selling on its diversity and its close proximity off […]