Author: lbostgadmin
Hang On
US interest in Sri Lanka went inland to the conflict riddled Eastern districts of Ampara and Batticaloa this week to emphasise the benefits of peace.This week, the Deputy Chief of Mission at the U.S. Embassy in Colombo James F. Entwistle, visited six USAID funded projects in Ampara and Batticaloa.rn rnOn Monday, Entwistle met with residents […]
Wrong Call
A truce between Tiger rebels and troops has helped Sri Lanka recover its reputation as a tourist paradise, but the halt in hostilities has triggered a battle against foreign prostitutes.Nightlife in Colombo has been stimulated with the growth of bars, night clubs and casinos after the Norwegian-brokered ceasefire took effect from February 2002 and with […]
Value Addition
Do quality certification programmes bring tangible improvements to businesses?This is one key aspect that a new certification services company in Sri Lanka plans to address as it seeks to establish itself as a provider of value-added certification services to the islands corporate sector.rn rnQuality International Certification Services (Pvt) Ltd., (QICS) commenced operations recently as the […]
Tourism Spin
Spin wizard Murali is spinning more than the ball for Sri Lanka, turning more Austrailian tourists here to watch him turn it on local wickets, says the Tourist Board.Visitors to the island from down under went up to 1089 in May up from 720 the year before.Up to May 6,843 Australians have visited, up 23.5 […]
Debt Call
The governments US$ 100 mn bond issue opens on Tuesday, to raise funds to bridge the budget deficit.The Sri Lanka Development Bond issue will carry a minimum two-year tenure and will be linked to the six months London Interbank offered rate or LIBOR.rn rnInterest rates will be paid semi-annually, with minimum investment of US$ 100,000 […]
Cleaner Alternatives
Natural gas, a fossil fuel sold on its environmental friendliness, is available in large quantities and burns cleanly. Its problem is often its distance from the market, so that gas-processing technology is dominated by the need to prepare it for long distance transportation, either in pipelines or by ship as a liquid.rn rnOnce pumped out […]
New Brooms
President Chandrika Kumaratunga promised to overhaul the countrys messy tax system, introduce laws to help sick companies and inject policies to achieve a six to eight percent growth in the medium term.rnOver the last two-years, she said that the national debt steadily rose to 106 percent of GDP from 103 percent, though the previous government […]
New Probe
Customs is investigating how GoldQuest Tracking Centre Owners (TCOs), who popularise the scheme, paid only Rs. 3,000 in taxes and duty for the Rs.80,000 plus priced gold coins purchased from the companys website.rn rnThe inquiry has found that some consignments were cleared on an endorsement from the Department of Import and Export Control.rn rnPreviously, a […]
Pyramid Promise
Finance Ministry says it will try to expedite anti-pyramiding legislation drafted by the Central Bank, through parliament.Finance Ministry says it will try to expedite anti-pyramiding legislation drafted by the Central Bank, through parliament. “I am looking at the draft legislation and will take some action soon,” Finance Minister Sarath Amunugama told The Sunday Times FT […]
Load Of Gas
Concerns are rising among apartment developers that the proposed transfer tax on land may hit the industry.The Ministry of Lands announced a Cabinet decision to re-introduce the 100 percent tax on land purchased by foreigners on Thursday.rn rnIn the late nineties the tax was relaxed to allow the upper floors of an apartment block to […]
Lost In Translation
For instance, a simple and direct translation in Sinhalese for ldblquote save dblquote means rescue, while there is no commonly used local term for mouse.rn rnMicrosoft Corp., recently setup local office is booting up for a nationwide campaign to compile a glossary of terms and phrases used in daily computing.rn rnThe proposed open process will […]
Smoke Screen
Sri Lanka was considering bringing back heavy taxes to discourage foreign ownership of land amid a surge in the sale of beach property to non-nationals, a senior government minister said Friday.The cabinet on Wednesday decided to reconsider imposing a 100 percent tax on foreigners buying land, cabinet spokesman Mangala Samaraweera said adding that a committee […]