Category: Industry
Rising Tide
The provisional figure is also an improvement over last years 145,000 TEU quote s, but short of the record 169,000 TEU handled in July, before the war risk surcharge was slapped on Sri Lanka bound ships.rn rnOfficials are confident that with the rise in productivity on the Jaya Terminal, the developments in SAGT and the […]
Vat The Hell
Under the proposed laws it would be a serious offence to disclose the VAT component in invoices issued to customers who are not registered for VAT. If a business issues a tax invoice to a customer who is not registered as a VAT payer with Inland Revenue, the firm will be slapped with a minimum […]
Growing @ 20%
Central Bank 1st quarter GDP figures indicate that the sector grew by 20 per cent, while the provision of cellular phones increased by 41 per cent.rn rnInternet and e-mail services grew by 27%. The new Telecom Bill due in August is expected to further accelerate growth in the sector.rn rnThis, at a juncture where most […]
Tax Gains
Deferring the Value Added Tax for another month will not put a strain on state revenues as the government is reaping an unexpected windfall through the 10 percent Withholding Tax.
Adding Wings
The A320 will be used to service new routs to India including Bangalore, Bogh Gaya and a resumption of a fifth weekly service to Trichy and to Frankfurt, Germany.rn rnOn a lease from Orix Aviation Systems Limited of Ireland, the A320 is fitted with 12 business and 138 economy class seats. rn rnWith the additional […]
Bangalore and Back
The airlines will also add Bogh Gaya while resuming its fifty flight to Trichy and its service to Frankfurt, Germany during the winter season.rn rnSriLankan Airlines Head of commercial, G.T. Jayaseelan said an A320 Airbus aircraft would be leased to service the rout, beginning operations in July.rn rnHe said that the Airlines quote was operating […]
Double Entry
Union Bank officials are presently talking to Central Bank and other key officials to clinch the deal. rnrnldblquote Sri Lanka was always in our radar. With the onset of the peace process we moved our plans forward for Sri Lanka, dblquote Union Bank quote s Chairman, Tharin Shaukat said in an interview. rnrnMushreqbank quote s […]
Going To Locales
Continuing losses and rising costs have forced authorities to adopt new strategies to turnaround the ailing department.rn rnUnder the programme Internet, email, typesetting, binding and other customer-oriented services will be added to the list of services offered at present. rn rnAn initial TRC funded project will help the postal department to introduce over 60 modern […]
Sunset Call
Indications are that the port could be run efficiently with less than half its 19,000 workforce if operations are rationally recognised.rn rnThe VRS is in line with plans to enhance the services of the Colombo port to be more competitive with regional services. rn rnThe Minister of Shipping and Port Development Rauf Hakeem told LBO […]
Pushing Off
The bloated state run bus companies are the first to be auctioned off, with the Public Enterprise Reform Commission calling for expressions of interest from private firms on Wednesday. rnrnThe government is looking at public-private partnership, giving private investors a 50 percent slice and the management contracts in each of the 13 bus companies. rnrnldblquote […]
Olive Branch
ldblquote On a Prime Ministerial directive, we are going to take off all old tax files after a certain date. This will be an incentive to tax evaders to start afresh, dblquote Deputy Finance Minister, Bandula Gunawardene told chamber delegates today. rnrnFacing one of its highest debt servicing ratios ever, the government is banking on […]
Air Wars
Attempting to break a stalemate over the management agreement of Sri Lankan Airline quote s, a team from Emirates is due in Colombo tomorrow for another round of talks with the government.