Category:
Tax Pain
July 10, 2007 (LBO) – Sri Lanka’s exporters have warned that delays in tax refunds and disbursements of export cess were hurting overseas marketing efforts and driving some businesses near bankruptcy. Delays experienced by exporters in getting value added tax (VAT) refunds is a “burning question,” said Mohan Mendis, the outgoing chairman of the Exporters’ […]
Phone Charges
July 10, 2007 (LBO) – Sri Lanka Telecom has said it plans to switch to a time-based tariff structure from a unit-based one as part of a court settlement in which it will cut call charges. The case will be called again on August 27. In a telecom operator revenues are usually made up of […]
Bangladesh in first day blues against Sri Lanka?
KANDY, Sri Lanka, July 10, 2007 (AFP) – Bangladesh are hounded by their repeated first innings failures as Sri Lanka seek a 3-0 sweep when the final Test starts here on Wednesday. The hosts, who won the previous two Tests by innings margins and plenty of time to spare, are firm favourites to secure their […]
Tigers slow Sri Lanka advance on eastern jungle base
July 10, 2007 (AFP) – Tamil Tiger rebels in the east of Sri Lanka are showing stiff resistance and have slowed a military advance on a strategic jungle base, defence authorities here said Tuesday.The government denies carrying out attacks inside rebel-held territory. Government spokesman Keheliya Rambukwella told reporters the Tiger rebels were still holed up […]
Risk Capital
July 09, 2007 (LBO) – At a time when the banking system is moving towards Basle II system, Sri Lanka’s insurance industry could benefit from the risk based capital (RBC) model, an international insurance professional has said. LBO: When you bring in something like RBC does it give you more flexibility to the industry? Webber: […]
Sri Lanka to tighten controls on tea imports
July 09, 2007 (LBO) – Sri Lanka’s Tea Board plans to double the import duty on foreign-made teas and introduce quality certification for imports to prevent illicit blending with Ceylon Tea. . Officials say this is aimed at safeguarding the image of pure Ceylon Tea. Under the new rules, to be gazetted soon, the import […]
Bug Fighting
July 9, 2007 (LBO) – The United States has given Sri Lanka protective gear, test and decontamination kits to combat an outbreak of bird flu, the US embassy in Colombo said.Sri Lanka government’s Department of Animal Production and Health had received 4,500 suits of personal protection equipment, 1,500 rapid test kits, and 40 decontamination kits […]
Please Hurry
July 9, 2007 (LBO) – A Hong Kong based rights body has offered to foot a part of the legal fees to appeal the case of a young Sri Lankan girl condemned to death in Saudi Arabia with time rapidly running out to appeal her case. The Asian Human Rights Commission is urging the Sri […]
Mercy Call
July 9, 2007 (LBO) – The Asian Human Rights Commission (AHRC) is calling on Muslim scholars to appeal a death sentence facing an under-aged Sri Lankan girl who is accused of killing a child in Saudi Arabia. AHRC says the girl, Rizana Naffeek, is facing death for a mistake made while feeding a four month […]
Court Call
July 9, 2007 (LBO) – Sri Lanka’s telecom regulator has proposed slashing home rentals by 24 percent and call charges by over 8 percent, in a consumer interest case against the island’s largest fixed access provider, a court official said. The Telecommunications Regulatory Commission of Sri Lanka has suggested in court Monday that monthly domestic […]
Oil prices drop as Nigerian rebels release British toddler
LONDON, July 9, 2007 (AFP) – World oil prices fell on Monday after rebels in key energy producer Nigeria freed a three-year old British girl. The kidnapping last week of Margaret Hill, along with US supply concerns, had pushed oil prices to near 11-month highs on Friday, above 76 dollars a barrel in London. In […]
British finance ministry plans to close arms sales department: report
LONDON, July 9, 2007 (AFP) – The British finance ministry wants to shut down the government arms sales department, the Defence Export Services Organisation (DESO), The Guardian reported on Monday.Citing unnamed political sources, the daily said that former Treasury minister Stephen Timms had ordered a review of DESO because of criticisms that it helped subsidise […]