Author: lbostgadmin
Sri Lanka toddy tappers face extinction
WADDUWA, Sri Lanka, Nov 12, 2012 (AFP) – Clambering between high trees carrying a knife in the search for sap to brew alcoholic drinks is a young man’s game — and Sri Lanka’s ageing toddy tappers say the craft is dying. “I don’t know for how long I can continue this because it is becoming […]
Steady Quarter
Nov 12, 2012 (LBO) – Sri Lanka’s NDB group profits edged 3 percent lower to 678 million rupees in the September 2012 quarter from a year earlier, with interest and staff expenses rising, interim accounts show. The group posted earnings of 4. 13 rupees per share in the quarter. In the nine months to September […]
Sri Lanka issues silver coin to mark relations with Japan
Nov 12, 2012 (LBO) – Sri Lanka will issue a silver commemorative coin with a face value of 1,000 rupees to mark 60 years of diplomatic relations with Japan, the Central Bank said. Minted at the Japan Mint, it has a diameter of 35 millimetres and weighs 20 grams. The obverse of the coin has […]
Sri Lanka cigarette labeling put off till March 2013
Nov 11, 2012 (LBO) – Sri Lanka’s health ministry has put off till March 2013, graphic labeling designed to educate consumers on the cancer and heart disease causing effects of cigarette smoke. Sri Lanka’s Ceylon Tobaccco Company, a unit of British American Tobacco, went to courts against the new rules which gave three months for […]
‘s Udawalawe National Park area gets 4-star resort: report
Nov 11, 2012 (LBO) – A 55-room 4-star class resort will open in the coming winter season in Thanamalwila near Sri Lanka’s Udalawalawe national wildlife park, a media report said. The hotel uses solar energy and has a sewage treatment plant where waste water is cleaned and used to irrigate the garden. The hotel is […]
‘s top lender, India gives most grants to Aug
Nov 10, 2012 (LBO) – China was Sri Lanka’s top lender up to August 2012 disbursing 443. 6 million US dollars in loans and export credits and India has give the most amount of grants followed the United States and Japan, finance ministry data shows. The finance ministry’s fiscal management report shows that China has […]
Sri Lanka ups protectionism in autarkist budget
Nov 09, 2012 (LBO) – Sri Lanka has upped protectionist taxes in foods and building materials allowing more profits for producers allowing producers as citizens try to eat and build homes for themselves. Raising import duties allows producers to engage in tax arbitrage, the act of collecting as profits the equivalent of amount of tax […]
Sri Lanka expects strong revenues, record domestic borrowings in 2013
Nov 09, 2012 (LBO) – Sri Lanka is expecting to grow revenues by an optimistic 19.2 percent to 1.25 trillion rupees cut foreign borrowings by 55 percent and ratchet up domestic borrowings by a record 64 percent to 421 billion rupees, a budget for 2013 shows. In 2013, Sri Lanka is expecting to run a […]
Sri Lanka chamber backs budget targets, calls for rule of law
Nov 09, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it was encouraged by government plans to cut the budget deficit which will help create a stable economy which will allow economic targets to be achieved. “Prudent monetary policies and the maintenance of fiscal discipline are required if the medium term macro targets […]
Sri Lanka gives tax breaks for renewable energy
Nov 09, 2012 (LBO) – Sri Lanka has cut taxes on renewable energy equipment and given accelerated depreciation allowances for renewable energy investments and given tax holiday for wood based energy crops. Industries investing in renewable energy which will cover up to 30 percent of their needs would be given lump sum depreciation for tax […]
Denial
Nov 09, 2012 (LBO) – Sri Lanka’s chief justice has denied charges in an impeachment motion in parliament, giving details over allegations of undeclared assets and the purchase of propety in a letter sent through her lawyers to the media. “Our Client instructs us to state that she will, as always, continue to duly and […]
Sri Lanka military opens more hotels, creates resort brand
Nov 09, 2012 (LBO) – Sri Lanka’s army has opened its third resort hotel and also created a brand as part of efforts to add more rooms to cater to an influx of tourists and promote soldier welfare. Army chief Jagath Jayasuriya said the army, which opened its first resort to provide rest and recuperation […]