Category:
‘s Treasuries yields drop at auction
Jan 30, 2013 (LBO) – Sri Lanka’s Treasuries yields dropped at Wednesday’s auction with the 3-month yield dropping as much as 16 basis points to 9.47 percent, data from the state debt office showed.The 6-month yield dropped 13 basis points to 10.28 percent and the 12 month yield dropped 14 basis points to 11.11 percent. […]
Sri Lanka bond yields edge down at auction
Jan 30, 3013 (LBO) – Sri Lanka’s bond yields edged lower at an auction Tuesday where 45 billion rupees of securities were sold, data from the state debt office showed.Market participants said there was foreign interest in the bond. The debt office sold 10.3 billion rupees worth 5- year bonds maturing in June 2018 were […]
Senator Call
WASHINGTON (AFP) Two US senators on Tuesday renewed calls for an international investigation into potential war crimes in Sri Lanka, accusing Colombo of failing to address legitimate concerns.Senators Patrick Leahy and Bob Casey, prominent voices on foreign policy in President Barack Obama’s Democratic Party, said the island had failed to carry out recommendations from its […]
Margin Matter
Jan 30, 2013 (LBO) – Sri Lankan suppliers of fuel to ships could be pushed out of business if a new tax is implemented, shipping officials and tax experts have warned. The trade has begun lobbying for the withdrawal of the five percent Ports and Airports Development Levy, (PAL) which they say could force them […]
Sri Lanka tea exporters protest sudden tax
Jan 30, 2013 (LBO) – Sri Lanka’s tea exporters are protesting an export tax that they have found has come into effect from January 23, where a cess on bulk tea exports is estimated to have almost doubled. “A large number of tea export containers were held up following a sudden revision of the tea […]
Sri Lanka trade press for simpler taxes
Jan 30, 2013 (LBO) – Sri Lankan trade and tax experts have pressed for further simplification of tax systems, saying that it will help generate more businesses, bringing greater tax revenues for the state and reduce disputes.The existing ruling committee on tax disputes has commissioners of the government’s Inland Revenue Department and takes too long […]
Sri Lanka stocks close down 0.9-pct, rupee stronger
Jan 29, 2013 (LBO) – Sri Lanka stocks closed down 0.9 percent Tuesday with retailers and foreign investors taking profits, while the rupee gained with foreign inflows, brokers and dealers said. Over the past few months, companies such as Nestle have seen steep gains, with foreign investor interest also seen, but once prices have risen […]
Sri Lanka hotel occupancy rates down
Jan 29, 2013 (LBO) – Occupancy rates at Sri Lanka’s hotels had slipped across star categories in November 2012 from a year earlier, worsening from October despite arrivals going up, official data show. Sri Lanka full year tourist arrivals rose 17.5 percent to 1,005,605 in 2012. The average occupancy rates of hotels tracked by the […]
Resolution
Jan 28, 2013 (AFP) – The US will bring a fresh resolution to the UN Human Rights Council in a bid to force Sri Lanka to deliver on promises to probe its troops for war crimes, top US diplomats announced Monday after talks with Colombo.“The US has decided to sponsor a procedural resolution (against Sri […]
Sri Lanka on fast track to cut flood risk, modernize capital
Jan 29, 2013 (LBO) – Sri Lanka has begun a fast track execution of a 220 million US dollar World Bank funded plan to cut floods, boost drainage as well as create waterfront entertainment areas in a bid to modernize the capital Colombo, officials said.When questioned by reporters officials said a wetland including rich in […]
Sri Lanka mulls rail hauling city waste to limestone pits
Jan 29, 2013 (LBO) – Sri Lanka is mulling a plan to haul solid waste from Sri Lanka’s capital Colombo to open pit limestone mines in the northwest of the island by rail as part of a plan to modernize the fast expanding metropolis, a top official said. Disposing of solid waste in Colombo has […]
Sri Lanka reshuffles cabinet, new ministers appointed
Jan 28, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa has re-shuffled the cabinet appointing 10 new ministers, two project ministers and six deputy ministers, the state information office said. The ministry of petroleum has gone to Anura Yapa, power to Pavithra Wanniarachchi and technology and research to former power minister Champak Ranawaka. Laxman Yapa […]