Category: Industry
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.
Thallu Start
The management of the 11 cluster bus companies will be restructured on a 50:50 government/private basis, State Transport Minister said. rnrnThough 50 percent state owned, the private investor will also get the management contract, says Minister Upali Piyasoma. rnrnWork on partially privatizing the railways is also steaming ahead under the guidance of a foreign consultant, […]
Dropping Anchor
The proposed developments are estimated at US $ 140 million for the construction of two 20 meter berths.Once complete the Galle Port will be able to service up to 40,000 TEU vessels. rnrnSpeaking to Lanka Business Online, Shipping Minister Rauf Hakeem said the project was being held back only due to a lack of funds. […]
Band Aid
The extra addition is estimated to cost around Rs.680 mn, and the firm plans to raise the money through a combination of preference shares to existing shareholders and public offering, its Chairman Dr. Prathap C Reddy told Lanka Business Online. rnrnHatton National Bank (HNB) has secured the mandate to raise the funds at a Rs. […]