Category: Industry
Carrot and Stick
Inland Revenue is finalising procedures to issue Gold and Silver cards to reward good tax payers.Inland Revenue is finalising procedures to issue Gold and Silver cards to reward good tax payers. “We will carry a paper notice soon asking people to apply for the cards,” said Commissioner General of Inland Revenue, R P L Weerasinghe. […]
US boost for Sri Lanka’s tsunami-hit tourism industry
Sri Lanka will spend 7.3 million dollars to woo high-spending holiday makers from Europe and neighbouring India to fill hotel rooms left empty after the December tsunamis, officials said Wednesday.Sri Lanka will spend 7.3 million dollars to woo high-spending holiday makers from Europe and neighbouring India to fill hotel rooms left empty after the December […]
Deal Maker
State owned Ceypetco is looking at rolling out its own lubricant brand, even as Caltex tries to clinch another exclusive distribution deal for its fuel sheds in 2006.State owned Ceypetco is looking at rolling out its own lubricant brand, even as Caltex tries to clinch another exclusive distribution deal for its fuel sheds in 2006. […]
Wrong Number
Net revenues from international telecom services are dropping- one of the unseen downside effects of liberalizing the international voice market.Net revenues from international telecom services are dropping- one of the unseen downside effects of liberalizing the international voice market. Overseas call revenues minus what the island pays for terminating calls abroad dropped from US$ 43 […]
One Down
The District Court vacated one of the three injunctions issued against the ICT Agency’s rural telecom licensing process Tuesday.The District Court vacated one of the three injunctions issued against the ICT Agency’s rural telecom licensing process Tuesday. The country’s seven network operators took the caretakers of the government’s eSri Lanka initiative to courts over the […]
Slippery Deals
The government is in the final stages of negotiation with a US based company interested in building a new oil refinery adjoining the one it operates on the outskirts of the capital.The government is in the final stages of negotiation with a US based company interested in building a new oil refinery adjoining the one […]
Punters’ Day
Analysts expect a market correction in the coming weeks after the galloping Colombo bourse hit an all time high on Friday. Analysts expect a market correction in the coming weeks after the galloping Colombo bourse hit an all time high on Friday. The rally was sustained by medium capitalized stocks that were snatched up by […]
Rate Card
Sri Lanka has only one active rating agency, and a few dozen ratings. India has nearly 1400 ratings and four agencies. In our Q and A this week, the Money Report speaks to Amit Tandon, Head of Fitch Ratings in India. Sri Lanka has only one active rating agency, and a few dozen ratings. India […]
Seylan’s Heart Ache
Closely held Seylan Bank and its subsidiaries saw profits shrink last year but its CEO says aggressive management of its loan book should produce a better performance this year.Closely held Seylan Bank and its subsidiaries saw profits shrink last year but its CEO says aggressive management of its loan book should produce a better performance […]
Digging Deeper
Commercial Bank of Ceylon is delving deeper into the local corporate debt market by offering to subscribe, hold and sell competitively priced paper above conventional savings products.Commercial Bank of Ceylon is delving deeper into the local corporate debt market by offering to subscribe, hold and sell competitively priced paper above conventional savings products. Having structured […]
Getting Off
Plans to lay off half the State owned bus workers got the Cabinet nod while analysts expect donors will fund the move.Plans to lay off half the State owned bus workers got the Cabinet nod while analysts expect donors will fund the move. The Central Transport Board (SLCTB) and the cluster bus companies employ a […]
Giving Up
Bowing down to trade unions, the government has said it will not ratify a Cabinet paper to restructure the loss making Ceylon Electricity Board, and will re-draw the reform plan.Bowing down to trade unions, the government has said it will not ratify a Cabinet paper to restructure the loss making Ceylon Electricity Board, and will […]