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Cricket: Perera, Dilshan fire Sri Lanka to Twenty20 win
PALLEKELE, November 21, 2013 (AFP) – Kusal Perera and Tillakaratne Dilshan hit aggressive half-centuries as hosts Sri Lanka romped to an emphatic eight-wicket win over New Zealand in the second Twenty20 international in Pallekele on Thursday.McCullum smashed 26 off 16 balls with three boundaries, while Ronchi hit three fours and a six. Perera smashed 57 […]
Sri Lanka targets lower deficit in 2014 budget, ups protectionism
Nov 22, 2013 (LBO) – Sri Lanka has slapped a series of new taxes to raise revenue and worsen protectionism setting an ambitious state revenue targets for 2014 with more spending and borrowing outlined outside the budget.But state airlines continued to run losses, needing a 200 million US dollar bailout in 2014. The Urban Development […]
Sri Lanka to raise US$1.5bn through international bonds in 2014
Nov 21, 2013 (LBO) – Sri Lanka is evaluating lead managers to sell international bonds in 2014 who will advise on the timing and mix of the program, Central Bank Governor Nivard Cabraal said. The government planned to build 50,000 high quality houses in estates to replace existing “poor quality” houses, he said. Bids to […]
Budget2014
Nov 21, 2013 (LBO) – Sri Lanka finance companies with subsidiary finance companies as well as banks having subsidiary finance companies will be asked to merge, President Mahinda Rajapaksa said.“¦I propose that any finance company which is a subsidiary company owned by a main company be absorbed by the main company to consolidate their operations,” […]
Sri Lanka gains popularity at Emirates Holidays
Nov 21, 2013 (LBO) – Sri Lanka has become one of the top 10 most popular destinations in after being included in Emirates group’s travel arm, officials said as outbound packages were also launched to customers in the island. The firm was developing more Sri Lanka tours targeted at specific markets. Emirates Holidays set up […]
Sri Lanka to give tax breaks to apartments for professionals
Nov 21, 2013 (LBO) – High income earnings professionals who combine in small groups to build housing complexes for themselves will be given a 50,000 tax deduction a month for mortgage payments, the budget for 2014 said.It will apply to doctors, lawyers, engineers, architects and business executives. Profit tax on banking and financial institutions which […]
Cricket: Sri Lanka to tour Bangladesh in January
DHAKA, November 21, 2013 (AFP) – Sri Lanka will play two Tests, three one-day internationals and two Twenty20 matches on their tour of Bangladesh starting in January, the Bangladesh cricket board announced on Thursday.The two teams last met in Sri Lanka in March this year when the hosts won the two-Test series 1-0 and also […]
Sri Lanka raises telecom levy, ups taxes on foods, removes VAT exemptions
Nov 21, 2013 (LBO) – Sri Lanka has raised a tax on telecom services and imposed import taxes on a series of foods and other goods to help favoured businessmen and removed value added tax exemptions. A tax on telecom services which include voice calls has been raised to 25 percent from 20 percent, but […]
Sri Lanka to tax land leased to foreigners at 15-pct
Nov 21, 2013 (LBO) – Sri Lanka will stop the freehold sale of state or private citizen’s land to foreigners and will charge a 15 percent tax on leases, President Mahinda Rajapaksa said.In that context the sale of land through leases could even be termed a relaxation of the earlier policy, analysts say. The tax […]
Sri Lanka to impose 2-pct tax on banks, ups export and import taxes – Updated
Nov 21, 2013 (LBO) – A two percent nation building tax will be imposed on banks, export taxes will be charged on cinnamon and pepper and import taxes will be raised on fishing boats and fish, President Mahinda Rajapaksa said.Cess taxes will also be raised on butter, yoghurt and milk products. Wooden furniture imports will […]
Sri Lanka offers tax breaks for R&D, royalties
Nov 21, 2013 (LBO) – To encourage research and development a tax deduction will be raised to 300 percent, and royalties will be made tax free, President Mahinda Rajapaksa said delivering the 2014 budget speech.Royalties on new patents will be made tax free for 7 years. President Rajapaksa who is also finance minister said the […]
Sri Lanka state carriers to get US$200mn bailout
Nov 21, 2013 (LBO) – State-run SriLankan Airlines and Mihin Lanka will be given 200 million US dollars bailout in the 2014 budget, President Mahinda Rajapaksa said.Ceylon Electricity Board has turned around and Ceylon Petroleum has cut losses. SriLankan will get 150 million US dollars and Mihin Lanka will get 50 million US dollars. Both […]