Author: Jayantha Kovilagodage
Sri Lanka onion prices to rise after Indian export ban
Dec 21, 2010 (LBO) – Prices of onions and leeks in Sri Lanka could rise after India’s decision to suspend exports of onions, a trade official said. Sri Lanka imports 4,000-5,000 tonnes of onions a week from India which supplies about 60 percent of the world requirements of onions. Pettah Wholesale Traders’ Association vice chairman […]
Sri Lanka turns to heritage homes
Dec 17, 2010 (LBO) – The Sri Lankan government is encouraging owners of heritage homes to convert them into tourist accommodation as it gets ready to meet an influx of visitors after the end of a war, officials said. Sri Lanka received its 600,000th tourist this month and plans to attract at least 700,000 visitors […]
Sri Lanka Shangri-La leisure project would be US$500mn: minister
Dec 16, 2010 (LBO) – Hong Kong based leisure group Shangri-La will invest 500 million US dollars in a hotel project on the main beachfront of Sri Lanka’s capital Colombo, a government minister said. The land is expected to be sold for 75 million US dollars according to reports. “The Shangri-La group has come forward […]
Sri Lanka gets US$500mn worth tourism proposals for 10 islets
Dec 16, 2010 (LBO) – Eleven leisure firms have submitted proposals worth 500 million US dollars to build hotels and other leisure facilities in 10 islets off Sri Lanka’s North Western coast, an official said. Chairman of Sri Lanka’s tourism development authority Nalaka Godahewa said the bids closed on December 03 and successful parties will […]
Sri Lanka gets 30 proposals for reservoir tourism: minister
Dec 01, 2010 (LBO) – Thirty parties have responded to a call for proposals to operate boat and leisure services at major reservoirs in Sri Lanka, irrigation minister Nimal Siripala de Silva said. Once the proposals are accepted the government was planning to kick off the services in January starting with the Victoria and Polgolla […]
Sri Lanka beachfront investment next week: Treasury Secy
Nov 24, 2010 (LBO) – Sri Lanka is expecting up to 500 million US dollars of investments on a key beachfront re-development in Colombo with the first project to take off as early as next week, finance ministry secretary P B Jayasundera said. Development of the Galle Face area, Colombo’s most prominent beachfront, is part […]
Sri Lanka to end tax breaks for small projects
Nov 19, 2010 (LBO) – Sri Lanka will stop giving tax holidays for investment projects smaller than 5. 0 million US dollars to close a loophole that has drained state revenues through the import of duty free equipment, a government minister said. This year the government has to tax the people to give a salary […]
Telecom Tower
Nov 10, 2010 (LBO) – Sri Lanka will start building a 350-metre telecom tower in the capital Colombo in December and intends to sell shares to the public in a firm to be set up to operate it, an official said. Television broadcasters, radio stations and telephone operators will be able to use the tower […]
Default Warning
Oct 11, 2010 (LBO) – Sri Lanka’s Credit Information Bureau (CRIB) is to launch an ‘e-alert’ service using mobile phones and email to warn banks of defaulters who have borrowed from more than one bank, an official said. Furthermore, there are also no detailed reports being exchanged now on monthly loan installment payments by borrowers. […]
Sri Lanka private sector employees to get new pension scheme
Sept 24, 2010 (LBO) – The Sri Lankan government plans to introduce a pension scheme for private sector employees soon, Gamini Lokuge, Minister of Labour Relations and Productivity Promotion, said. Lokuge also said the pension payments will be made up to the death of the recipient and their dependents will not be entitled to it. […]
Sri Lanka domestic air services chased by 13 firms: official
July 19, 2010 (LBO ) – Thirteen firms that applied to start domestic air services in Sri Lanka after the end of a 30-year war are awaiting the final nod from the island’s aviation ministry and the president’s office, an official said. Director general of Sri Lanka’s civil aviation authority H M C Nimalsiri said […]
Sri Lanka slashes vehicles import duty; lifts import surcharge
June 01, 2010 (LBO) – Sri Lanka has slashed an import excise duty on vehicles by 50 percent amid a pick up in the economy and demand for vehicles, lifted a general 15 percent surcharge on all imports and slashed duties on electronic items, an official said. In Sri Lanka prices of wearing apparel are […]