Category:
Regressive Tax
Sept 06, 2007 (LBO) – Sri Lanka has dropped a controversial fixed levy from mobile phones which would have hit the poorest phone users the hardest, but slapped a 7.5 percent tax on calls, telecom minister Rauf Hakeem told parliament Thursday. The government initially proposed a fixed 50 rupee charge which would have hit the […]
More Cash
Sept 06, 2007 (LBO) – Massachusetts-based Virtusa Corp., an IT services firm with operations in Sri Lanka that raised 57 million dollars from a NASDAQ listing last month, said its first quarter profit fell slightly. “The company’s effective tax rate increased from 3.6 percent in the first quarter of fiscal 2007 to 20.4 percent in […]
Roaming Call
Sept 06, 2007 (LBO) – Sri Lankan mobile operator Mobitel has launched two international roaming services for customers travelling overseas. One service is the loyalty programme for in-bound international roaming customers, launched in collaboration with Travelling Connect, a global provider of loyalty management services to the telecommunication industry. A statement by Mobitel, a subsidiary of […]
West worried India would tip APEC power balance: official
SYDNEY, Sept 6, 2007 (AFP) – Western countries are behind moves to keep India out of an Asia-Pacific grouping because they are concerned that its entry would tip the balance of power towards Asia, an official said Thursday. India was among a group of nations frozen out after foreign and trade ministers of the group […]
Massive Myanmar quake, tsunami could kill millions around Bay of Bengal
PARIS, Sept 5, 2007 (AFP) – The northern tip of the Bay of Bengal, home to tens of millions of people, faces a potential double whammy from an earthquake and tsunami, a scientist warned on Wednesday.He says the peril does not appear to be immediate but says there are many unknowns and further work is […]
‘s best but cannot end drought
NEW YORK, Sept 5, 2007 (AFP) – Andy Roddick has tested Roger Federer, even forced the world number one to make some astonishing shots.But for the 14th time in 15 matches, the top US player could not beat the Swiss tennis magician. Three-time defending champion Federer beat Roddick for the 10th time in a row […]
Rights group says 43 aid workers killed in Sri Lanka
Sept 6, 2007 (AFP) – At least 43 aid workers have been killed in Sri Lanka since early last year amid an escalation of fighting between troops and Tamil separatists, the Asian Human Rights Commission said on Thursday. The AHRC said that another 14 people had gone missing since January 2006 as the government and […]
Top spies from Sri Lanka, Asia Pacific meet to combat security threats
KUALA LUMPUR, Sept 5, 2007 (AFP) – Top military intelligence chiefs from 19 nations gathered here Wednesday for the first time to discuss terrorism, maritime security and disaster relief. “This is an opportunity for the intelligence chiefs from all these countries to get together to talk about areas of mutual cooperation and how we can […]
Kero Hurdle
Sept 6, 2007 (LBO) – Sri Lanka would make a fixed payment to poor households on income support from this month but limit a promised subsidy to fishermen to one month, a senior minister said. Ceylon Petroleum Corporation would make a 4,000 rupee one-off payment to 16,036 fishermen for the month of August at a […]
Sri Lanka 3-month treasuries move up to 17.80%, rupee weaker
Sept 5, 2007 (LBO) – Sri Lanka’s 3-month Treasury bill yields moved up 15 basis points to 17.80 percent rolling over 9.3 billion rupees of debt on Wednesday’s auction, the government’s debt office said.The cut-off for the 3-month bill had moved to 17.95 percent, dealers said. The 6-month yield moved up 16 basis points to […]
Fast Links
Sept 05, 2007 (LBO) – Sri Lanka Telecom, the island’s dominant fixed phone operator, has increased bandwidth to accommodate rapidly growing high-speed broadband ADSL connections and plans a further expansion by December, an official said. But SLT cannot give telecom service level agreements (SLAs) guaranteeing ADSL performance as many factors determining service quality are beyond […]
Official banquet for China but Taiwan dines alone
SYDNEY, Sept 5, 2007 (AFP) – When Chinese President Hu Jintao sits down to smoked chicken, prawns and lamb at a formal state banquet in Australia, it will be in stark contrast to the Taiwanese delegation’s APEC dinner.The Taiwanese held their dinner at a famous dim sum restaurant in Sydney’s Chinatown on Tuesday night and […]