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Red Dot
Fitch Ratings Lanka Ltd (FRL) assigns BB+ (sri) (double B plus) national rating for the Implied Long-term unsecured Senior Debt of Pan Asia Banking Corporation Ltd. (PABC). Fitch Ratings Lanka Ltd (FRL) assigns BB+ (sri) (double B plus) national rating for the Implied Long-term unsecured Senior Debt of Pan Asia Banking Corporation Ltd. (PABC). BB+ […]
A new Authority to implement Sri Lanka’s tsunami rebuilding plan, to get parliamentary approval in early February.
A new Authority to implement Sri Lanka’s tsunami rebuilding plan, will get parliamentary approval by early February. A new Authority to implement Sri Lanka’s tsunami rebuilding plan, will get parliamentary approval by early February. The legislation to set up the Authority has already been drafted and will come before Parliament as an urgent Bill. “The […]
‘s trade deficit continues to run wild, egged on by hefty petroleum bills
Despite introducing hefty taxes to curb imports of non-essential items like motor vehicles, Sri Lanka’s trade deficit continued to run wild, egged on by hefty petroleum and investment goods bills, the Central Bank said Thu.Despite introducing hefty taxes to curb imports of non-essential items like motor vehicles, Sri Lanka’s trade deficit continued to run wild, […]
Sri Lanka marks one month after tsunami with silence, day of mourning
Sri Lanka observed a minute’s silence as a sign of respect for the nearly 31,000 people here who perished in the tsunami disaster a full month ago. Sri Lanka observed a minute’s silence as a sign of respect for the nearly 31,000 people here who perished in the tsunami disaster a full month ago. State […]
Sri Lanka rules out direct tsunami aid to Tiger rebels
Sri Lanka has ruled out Tamil Tiger rebels receiving direct foreign aid to be distributed among tsunami survivors and said all external help must go through Colombo.Sri Lanka has ruled out Tamil Tiger rebels receiving direct foreign aid to be distributed among tsunami survivors and said all external help must go through Colombo. President Chandrika […]
Tax Drive
The Inland Revenue is launching an intensified tax collection drive, up to June this year, to meet budgeted revenue targets.The Inland Revenue is launching an intensified tax collection drive, up to June this year, to meet budgeted revenue targets. “Around half of the tax payers are yet to settle their full dues to the department […]
Double-Edged
One month after the Asian tsunamis, donor countries are making history by quickly following through on their promises of aid.The question remains how the billions of dollars can be used in the long-term to reconstruct shattered lives.One month after the Asian tsunamis, donor countries are making history by quickly following through on their promises of […]
Big Step
Ceylinco Consolidated, the leading corporate group in Sri Lanka, has tied up with Shriram Properties Ltd to develop commercial and housing properties in Bangalore and Chennai.Ceylinco Consolidated, the leading corporate group in Sri Lanka, has tied up with Shriram Properties Ltd to develop commercial and housing properties in Bangalore and Chennai. The Colombo-based conglomerate and […]
Government aid package for families that lost their homes
The government is doling out up to US$ 500 each for 40,000 families whose homes were completely destroyed by the tsunami.The government is doling out up to US$ 500 each for 40,000 families whose homes were completely destroyed by the tsunami. The government proposes to allocate US$ 200 and a cash advancement of US$ 300 […]
The Millennium Challenge Corporation is looking at supporting Sri Lanka’s tsunami reconstruction.
The Millennium Challenge Corporation(MCC) – the US body established to assist developing countries – is looking at supporting Sri Lanka’s tsunami reconstruction.The Millennium Challenge Corporation(MCC) – the US body established to assist developing countries – is looking at supporting Sri Lanka’s tsunami reconstruction. The MCC says Sri Lanka can apply for assistance from its billion-dollar […]
On the Road
An Rs 12 bn road development programme, over the next 4 years, is waiting for donor and lending agency funding.An Rs 12 bn road development programme, over the next 4 years, is waiting for donor and lending agency funding. “We have identified and submitted to the government, long term road development projects, for donor funding,” […]
Closing In
Apply for tax amnesty before January 31 to avoid post 2002 tax investigations, says the Inland Revenue.Apply for tax amnesty before January 31 to avoid post 2002 tax investigations, says the Inland Revenue. The blanket tax amnesty granted in 2003 is no longer valid and the taxmen are closing in on tax evaders. One way […]