Author: lbostgadmin
‘s murky casino taxes stir controversy
July 19, 2013 (LBO) – Sri Lanka’s main opposition has slammed proposed tax breaks for casinos to be operated by James Packer’s Australia based Crown group and said the plans will be opposed in parliament.De Silva said Macao made 43 billion dollars in gaming with a tax close to 40 percent of casino revenues.Macao however […]
Sri Lanka exports down 1.5-pct, apparel up in May
July 19, 2013 (LBO) – Sri Lanka’s exports fell 1.5 percent to 793.9 million US dollars in May 2013 from a year earlier, but apparel exports rose 2.1 percent to 318.9 million US dollars, official data showed. Agricultural products exports fell 6.8 percent to 197.9 million US dollars in June from a year earlier, rubber […]
European lawmakers press Sri Lanka to probe war crimes
COLOMBO, July 19, 2013 (AFP) – European parliamentarians Friday asked Sri Lanka to deliver on promises to investigate allegations of war crimes and ensure ethnic reconciliation more than four years after crushing Tamil separatists.A delegation of EU lawmakers requested Colombo ensure accountability in the face of what the UN calls “credible allegations” of up to […]
Anti Migrant
July 19, 2013 (LBO) – Boat people arriving in Australia from countries like Sri Lanka and others may be settled in Papua New Guinea and other developing countries, media reports said. AFP news agency quoting the Australian Broadcasting Corporation said Australia has struck a deal with PNG Prime Minister Peter O’Neill to process and settle […]
Closed
SYDNEY, July 19, 2013 (AFP) – Prime Minister Kevin Rudd Friday announced that no more boatpeople will be resettled in Australia as refugees, with all unauthorised arrivals to be sent to poverty-stricken Papua New Guinea.Australia will also contribute funds to reform the impoverished Pacific nation’s university sector and support other health, education and law and […]
Sri Lanka Crown project gets investment nod, tax breaks
July 19, 2013 (LBO) – Sri Lanka’s Lake Leisure Holdings (Pvt) Ltd, a gaming resort joint venture with Australia’s Crown group is being given sweeping tax breaks according to a government notice.Sri Lanka is expecting to boost up market tourists with gaming resorts which analysts say will push up city hotel rates, but other support […]
Sri Lanka John Keells Holdings project gaming tax policy set out
July 19, 2013 (LBO) – Profits from gaming at a large resort to be built by John Keells Holdings in Sri Lanka’s capital Colombo will be charged corporate taxed at “applicable rates”, but rents would be exempt, a government notice said. A similar resort in Colombo, Lake Leisure Holdings, in a joint venture between Australia’s […]
Savings Rating
July 19, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has been given a ‘BB-‘ international rating by Fitch, ahead of a planned bond sale.“NSB’s ratings reflect Fitch’s expectation of the government of Sri Lanka’s high propensity but moderate ability to provide support to the bank in case of need,” Fitch said. “The state’s […]
Sri Lanka foreign reserves drop in May 2013
July 19, 2013 (LBO) – Sri Lanka’s foreign reserves dropped to 6.6 billion US dollars in May from 6.85 billion US dollars in April partly due to due payments to the International Monetary Fund and falling gold prices, the Central Bank said. The Central Bank said it repaid 225.5 million US dollars to the IMF […]
Sri Lanka forex reserves hurt by gold price fall
July 19, 2013 (LBO) – Sri Lanka’s central bank, an active trader in gold, has seen losses from steep falls in the precious metal in 2013 after making steady profits over several years as prices rose, according to published data. The Fed is now due to step off the gas pedal and the Euro Zone, […]
Protests in Sri Lanka over French film festival
COLOMBO, July 17, 2013 (AFP) – Hundreds of government supporters protested outside the French embassy in Colombo Wednesday over a film festival which included a local movie considered by Sri Lanka’s military to be insulting. Demonstrators chanted anti-French slogans, denouncing the Sinhalese-language movie “Flying Fish” and the embassy for showing it at the French film […]
Sri Lanka scraps T20 cricket tournament
COLOMBO, July 17, 2013 (AFP) – Sri Lanka’s cricket administrators scrapped their Twenty20 league Wednesday after franchise holders defaulted on payments for the tournament and failed to guarantee payments to players, a top official told AFP.Sri Lankan Cricket decided not to go ahead with the Sri Lanka Premier League (SLPL) tournament and sack the seven […]