Author: lbostgadmin
Treasury Secretary says the government and the Central Bank have lost their independence in setting fiscal and monetary policies
The government and the Central Bank have lost their independence in setting fiscal and monetary policies, the Treasury Secretary said in Colombo last week.The government and the Central Bank have lost their independence in setting fiscal and monetary policies, the Treasury Secretary said in Colombo last week. The falling government revenue has meant that increasing […]
Free Wire
A consultation paper proposing a frequency reallocation model is unlikely to go through smoothly, with the wireless local-loop (WLL) operators Suntel and Lanka Bell calling it uncompetitive.A consultation paper proposing a frequency reallocation model is unlikely to go through smoothly, with the wireless local-loop (WLL) operators Suntel and Lanka Bell calling it uncompetitive. The Telecommunications […]
The Bridge
A major cause for poverty in Sri Lanka is the lack of infrastructure.The cost of short term relief, offered by politicians here, has been a long term vision essential for infrastructure development to take place. A major cause for poverty in Sri Lanka is the lack of infrastructure. The cost of short term relief, offered […]
Getting Hitched
Vanik Inc. is in talks with a foreign investor to restructure its balance sheet and fend off bankruptcy proceedings to recover Rs. 4.4 bn in debt. Vanik Inc. is in talks with a foreign investor to restructure its balance sheet and fend off bankruptcy proceedings to recover Rs. 4.4 bn in debt. The ailing merchant […]
Rerun
The government has reapplied for a US$ 60 mn loan from the Asian Development Bank (ADB) to restructure national revenue collection.The government has reapplied for a US$ 60 mn loan from the Asian Development Bank (ADB) to restructure national revenue collection. “We (government and ADB) have agreed on a basic outline and we hope to […]
Fast Pace
A brand of motorcycles sourced from one of the most advanced manufacturing plants in Asia, entered the local market last week, seeking to be a major player in a sector that grew 66 per cent last year.A brand of motorcycles sourced from one of the most advanced manufacturing plants in Asia, entered the local market […]
Singer gets top rating for its upcoming Rs. 600 mn debt issue to fund higher purchase business
Fitch Ratings Lanka Ltd (FRL) assigns A(sri) national long-term credit rating for Singer (Sri Lanka) Ltd.’s upcoming Rs. 600mn unsecured redeemable debenture issue. Fitch Ratings Lanka Ltd (FRL) assigns A(sri) national long-term credit rating for Singer (Sri Lanka) Ltd.’s upcoming Rs. 600mn unsecured redeemable debenture issue. FRL also affirms A(sri) national long term credit rating […]
Village Hand
Condemning the way traditional subsidies are doled out to the poor, the Freedom Alliance Government is gearing to launch a fresh poverty reduction programme later this week.Condemning the way traditional subsidies are doled out to the poor, the Freedom Alliance Government is gearing to launch a fresh poverty reduction programme later this week. Samurdhi and […]
Media Attack
Sri Lanka’s opposition United National Party condemned the grenade attack on the independent Swarnavahini television station, and called for an inquiry to find the culprits. Sri Lanka’s opposition United National Party condemned the grenade attack on the independent Swarnavahini television station, and called for an inquiry to find the culprits. “We strongly condemn the attack […]
EU Flight
Sri Lanka has agreed to tweak terms of its bilateral Air Service Agreement with France, to allow other EU carriers from its ‘common market’ to fly in here.Sri Lanka has agreed to tweak terms of its bilateral Air Service Agreement with France, to allow other EU carriers from its ‘common market’ to fly in here. […]
Import tax on cars, vans and dump trucks up from Friday
Import tax on cars, vans and dump trucks went up from midnight Thursday after excise duty on these vehicle categories were increased. Import tax on cars, vans and dump trucks went up from midnight Thursday after excise duty on these vehicle categories were increased. Excise duty on cars went up from 25 percent up to […]
Breathing Space
Pramuka Bank got a short breathing space on Friday when the Appeal Court issued a stay order against the decision to liquidate the bank.Pramuka Bank got a short breathing space on Friday when the Appeal Court issued a stay order against the decision to liquidate the bank. The next Court hearing is set for November. […]