Category: Industry
Tourist arrivals could dip 20% this year, from expected record levels.
Tourist arrivals could dip 20 percent from over 560,000 expected this year, even as the industry throws together a package of incentives to jumpstart hotels hit by tidal waves.Tourist arrivals could dip 20 percent from over 560,000 expected this year, even as the industry throws together a package of incentives to jumpstart hotels hit by […]
Dogged by Trouble
The Ministry of Health says the risk of rabies has increased because of the large number of displaced dogs in tsunami-affected areas.The Ministry of Health says the risk of rabies has increased because of the large number of displaced dogs in tsunami-affected areas. “There are no confirmed cases of rabies but the risk has of […]
Tread Carefully
The International Monetary Fund says Sri Lanka will be hard pressed to keep its country reserves at pre-tsunami levels, as a heavy import bill will negate an inflow of dollars.The International Monetary Fund says Sri Lanka will be hard pressed to keep its country reserves at pre-tsunami levels, as a heavy import bill will negate […]
Tidal Aid
Last month’s devastating tsunami will increase the strain on Sri Lanka’s government finances, but help from donors will likely prevent a full-blown crisis, officials and analysts said Wednesday.Last month’s devastating tsunami will increase the strain on Sri Lanka’s government finances, but help from donors will likely prevent a full-blown crisis, officials and analysts said Wednesday. […]
Tough Choices
The IMF plans to work on a macroeconomic impact, budgetary and balance of payments needs assessment to the tsunami-hit Sri Lanka, besides stepping in with up to US$ 160 mn in emergency financial assistance, a senior International Monetary Fund official said on Wednesday.The IMF plans to work on a macroeconomic impact, budgetary and balance of […]
Late Train
Sri Lanka’s southern rail service will be back on track by March, with the Department estimating the repair bill to restore the tract to touch Rs.1.6 billion. Sri Lanka’s southern rail service will be back on track by March, with the Department estimating the repair bill to restore the tract to touch Rs. 1.6 billion. […]
Shelving Plans
Donors say funds hang in the balance, if the government shelves long term plans such as electricity reforms lined up this year, as tsunami re-building takes centre stage.Donors say funds hang in the balance, if the government shelves long term plans such as electricity reforms lined up this year, as tsunami re-building takes centre stage. […]
Building Block
The government has finally approved coastal building regulations, under the Urban Development Authority(UDA), for tsunami-damaged parts of the country.The government has finally approved coastal building regulations, under the Urban Development Authority(UDA), for tsunami-damaged parts of the country. Under latest guidelines no new construction is allowed up to 100m in the western coast and 200m in […]
Credit Slip
Sri Lanka’s tsunami tragedy will affect an estimate Rs. 20 billion in loans given out by commercial banks to individuals and business in the ravaged coastal belt.Sri Lanka’s tsunami tragedy will affect an estimate Rs. 20 billion in loans given out by commercial banks to individuals and business in the ravaged coastal belt. A fraction […]
Confused Comrades
The JVP wants all tsunami-affected businesses released from their current and previous tax obligations. The JVP wants all tsunami-affected businesses released from their current and previous tax obligations. The government’s main coalition partner, the JVP is calling for blanket tax concessions for tsunami-affected businesses – when the government says no tax breaks. In a statement […]
Money Galore
The World Bank’s private sector financing arm is offering cash grants through its business investments in Sri Lanka who have undertaken post-tsunami reconstruction work.The World Bank’s private sector financing arm is offering cash grants through its business investments in Sri Lanka who have undertaken post-tsunami reconstruction work. Sanjiva Senanayake, the International Financial Corp’s Resident Representative […]
Tsunami Boom
The tsunamis that ravaged Sri Lanka are unlikely to dampen the island nation’s booming property market in the months ahead as foreigners hopefully sniff out bargains and aid floods in, analysts said.The tsunamis that ravaged Sri Lanka are unlikely to dampen the island nation’s booming property market in the months ahead as foreigners hopefully sniff […]