Category: Industry
Broken Record
Any new levies that the Sri Lankan government proposes for its 2005 budget shouldn’t be applied retroactively, as such a policy will erode foreign investor confidence, a tax expert warned Monday.Any new levies that the Sri Lankan government proposes for its 2005 budget shouldn’t be applied retroactively, as such a policy will erode foreign investor […]
Grand Prize
The odds for star-spangled Sri Lankans to strike it rich in a game of chance just got better, with a third lottery operator now active in the market The odds for star-spangled Sri Lankans to strike it rich in a game of chance just got better, with a third lottery operator now active in the […]
Clearing Space
The Civil Aviation Authority is pushing for the state greenlight to open up its air routes for a second local carrier, and draw up the ground rules for operation.The Civil Aviation Authority is pushing for the state greenlight to open up its air routes for a second local carrier, and draw up the ground rules […]
Auspicious Moment
The Railway Department is waiting for a “good time” to reel out an alternate rail service from Fort to Nugegoda from November.The Railway Department is waiting for a “good time” to reel out an alternate rail service from Fort to Nugegoda from November. “We are going to start the rail bus service on the Kelaniweli […]
Tourist arrivals are up 11%, while the average spending by visitors has also risen to US$ 70 a day
Tourist arrivals are up 11 percent so far this year while the average spending by visitors has also risen to US$ 70 a day from US$ 64.Tourist arrivals are up 11 percent so far this year while the average spending by visitors has also risen to US$ 70 a day from US$ 64. The industry […]
Route Subsidy
Sri Lanka’s subsidy happy government, which has made short-term handouts the cornerstone of its economic strategy, is now planning to use at least one upcoming subsidy to push through a long-felt shake up in the country’s unruly public transport system.Sri Lanka’s subsidy happy government, which has made short-term handouts the cornerstone of its economic strategy, […]
Twin Attacks
Sri Lanka is planning to ban the import of two-stroke engine vehicles widely used here in a bid to reduce pollution, the transport secretary said.Sri Lanka is planning to ban the import of two-stroke engine vehicles widely used here in a bid to reduce pollution, the transport secretary said. The move would largely affect the […]
Playing Safe
Sri Lanka’s foreign reserves have fallen to US$ 1.9 bn in October due to higher oil imports, but the government is still fighting shy to hedge its crude imports, Treasury Secretary said.Sri Lanka’s foreign reserves have fallen to US$ 1.9 bn in October due to higher oil imports, but the government is still fighting shy […]
Post Paid
Snail mail users will have to lick a Rs. 5 stamp with immediate effect, as the Postal Dept., closes the gap with its rising cost of delivery.Snail mail users will have to lick a Rs. 5 stamp with immediate effect, as the Postal Dept., closes the gap with its rising cost of delivery. A midnight […]
Rough Ride
The Government put another road block before vehicle imports, with the Central Bank Friday raising the bar on obtaining Letters of Credit (LCs). The Government put another road block before vehicle imports, with the Central Bank Friday raising the bar on obtaining Letters of Credit (LCs). The directive, effective immediately, will require importers to post […]
Dusting Powder
The United States on Thu. donated US$ US 330,000 to the Colombo Plan to assist in combating drug use among Asian youth. The United States on Thu. donated US$ US 330,000 to the Colombo Plan to assist in combating drug use among Asian youth. Handing over the cheque, Ambassador Jeffrey J Lunstead commended on the […]
Sri Lanka is embarking on a US$ 7 mn tourism campaign next year to boost the island’s exotic image
Sri Lanka is embarking on a US$ 7 mn tourism campaign next year to boost the island’s exotic image, the Tourist Board said Thursday. Sri Lanka is embarking on a US$ 7 mn tourism campaign next year to boost the island’s exotic image, the Tourist Board said Thursday. “We are going for a makeover to […]