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Poor Outlook
ldblquote 2001 was one of the worst years in terms of economic performance.Poor monetary and fiscal management was compounded by a series of external and internal shocks, dblquote he said addressing a Norwegian Aid delegation on Sri Lanka quote s economic revival plan. rnrnHefty military spending, a stalled privatization programme and mounting losses at key […]
Building Bridges
Finance Minister K N Choksy told a Norwegian Aid delegation headed by Olav Kjorven, Deputy Minister of Development Cooperation that a systematic framework was necessary after the government signed an indefinite truce agreement with the LTTE recently. rnHe said the Relief, Rehabilitation and Reconciliation framework, also known as the lquote Triple R document quote will […]
Hear Us
The system of policy and law enactment has come under fire, for its lack of transparency and closed-door attitude to open discussion and consultation. rnrnIn a statement issued by the trade chamber, ldblquote If the private sector is to be considered the engine of growth, then it is imperative that the business community be informed […]
Future Proof
Speaking to LBO, Intel quote s GM endash Channels South Asia, Amar Babu said though Sri Lanka was behind Bangladesh in terms of sales, it was the fastest growing market in the region. rn rnldblquote With the recent political changeover in Sri Lanka, we expect demand to grow significantly. dblquote rnrnIntel is also pursuing a […]
Money To Fish
A Norwegian team of consultants are due this week to negotiate funding for coastal economy development, Finance Minister, K N Choksy told Lanka Business Online. rnrnldblquote The project will not be limited only to North and East. The Norwegian team will evaluate the entire coastal belt of Sri Lanka for potential development projects dblquote , […]
Small Openings
On the cards are a higher ownership limits on foreign stakes in financial services including banks and insurance companies. rnPresently, foreign ownership is limited to 49 percent in Finance services, 90 percent in insurance companies and 60 percent in banks. rnCentral Bank Governor A S Jayawardene said they were discussing various possibilities, lquote but the […]
Helping Hand
The Manila based bank, which funded economic development and poverty alleviation projects worth US$ 2.7 bn during its 34 years stint in Sri Lanka, has already launched a North East Community Restoration and Development Project. rnrnNew projects for community development and water supply in the East are also in the pipeline, said ADB President Tadao […]
Colombo Goes Online
Colombo is the latest station on the Emirates network to receive the on-line booking facility, which also allows travellers to check seat availability on all Emirates flights and obtain fare quotations. rnrnOn-line bookings have to be completed three working days prior to flight departure and tickets for on-line bookings will be delivered by Emirates to […]
Short Cut
The government presently runs a two-tier tax system where provincial councils charges a 1 percent Turnover Tax (TT) while the Inland Revenue charges a 12.5 percent Goods & Service Tax (GST). rnrnThe chamber is proposing the government broadbase GST to cover all activities ranging from production distribution chain right through to the consumer and eliminate […]
Too Hot
The competition is not unique to Sri Lanka, notes visiting CIMA President Bruce Epsley. ldblquote Other rival courses are also offering university degrees and so forth. So we plans to unveil a series of value addition measures to stay ahead of the pack, dblquote he said addressing a media briefing today. rnrnCIMA exams have got […]