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One More Try
Hoarders who played hide and seek with revenue officials have been coming clean in droves in response to the governments tax amnesty, Deputy Finance Minister Bandula Gunewardene said.rn rnldblquote They will not be questioned about the source of funds or face prosecution for not declaring the assets earlier, dblquote Minister Gunewardene told members of the […]
Creeping Up
Prices for crepe rubber have reached record levels as oil prices spiral, touching Rs. 129 a kilo at this weeks auction, a high since 1995. This is up from crepe prices of Rs.102 in Dec 2002. Crepe rubber is used as a substitute for synthetic rubber, which uses petroleum products. An agreement to cut output […]
Cashing The Tigers
The government is discussing ways of financing the administrative units to be set up in a possible devolution and has also taken up the Tiger tax issue, Cabinet Spokesman G.L. Pieris said.rn rnAt present the LTTE is using various ruses to collect taxes from the people in the North and East.rn rnThough prices have come […]
Expensive Business
Business Development Services or BDS are support services offered for SMEs, providing start-up, non-financial assistance. rn rnOver the last 25 years the BDS market expanded rapidly reaching double-digit growth in the 90s, driven largely by the commercial sector.rn rnldblquote The 80s was the decade of the government sector providers, in the 90s it was the […]
Rough Guide
Ripping open the wild side of the paradise isle, Sri Lanka will stick its spokes into the international world of adventure sports with its first race set for July 2003. Adventure Centre Asia, a Nepalese based company is pitching its tent in Sri Lanka to open up the island for serious adventure sports enthusiasts.rn rnAdding […]
Chain Links
A Hayleys tie up with India based TAKE Solutions is building on the need of large companies to cut cost and streamline processes. MPower will leverage this urgent need of the corporate and manufacturing sector to sturdy up, to offer tailor made supply chain management (SCM) solutions to the range of manufacturing and services firms […]
Colombo Plaza
Meanwhile, the Asian Hotels management is working to tie down a new management for the hotel before the end of the year, with invitations for quotations already sent out. rn rnHotel officials are keen on attracting leading international chains to take over and build on the facilities offered at the city hotel. rn rnAsian Hotels […]
Green Floor
The Asian Development Bank on Monday approved US$ 300 mn in loan and grant financing for five key infrastructure and poverty alleviation projects in the transport, water and wildlife sectors.
Coming Out Soon
Government savings giant NSB is in the final stages of getting a credit rating from Fitch Ratings Lanka.National Savings bank with public deposits of over Rs.130 bn is expected to publicly announce the senior debt rating once it is assigned.rn rnThe Banks General Manager Eastman Narangoda told LBR that the rating audit has already been […]
Banks: Big Profits Or What?
Banking sector stocks were top performers at the Colombo stock exchange last year as analysts predicted a good year for the countrys finance houses. A number of banks are expected to announce record profits this year.However, borrowers are protesting about high interest rates charged by commercial banks despite the prevalent low risk free rates. Borrowers […]