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Sri Lanka state workers take home 56-pct of tax revenues in 2012
June 11, 2013 (LBO) – Sri Lanka’s state workers and pensioners have taken 56 cents out of every tax rupee collected from the people in 2012, not counting tax slashed car permits, official data shows. An analysis by the finance ministry shows that in 1.79 public sector workers took home 348 billion rupees in salaries […]
Sri Lanka stocks close up 0.5-pct
June 10, 2013 (LBO) – Sri Lanka’s stocks closed up 0.54 percent on Monday following a week of losses with gains in the heavy index stocks like JKH and CTC, brokers said. The benchmark Colombo All Share Index closed 33.85 points higher at 6,341.28 and the S&P SL 20 Index closed 23.98 points higher at […]
‘s Watawala in bottom of-the-pyramid tea push
June 10, 2013 (LBO) – Sunshine Holdings Plc, which has the second largest share in the branded tea market, will expand into the bottom-of-the-pyramid segment, with its new third brand, officials said.The firm now had a third of a 10 million kilo branded tea market.Sri Lanka’s total domestic tea consumption is estimated at around 26 […]
Sri Lanka rice second highest for toxic metal in 12-nation study: report
June 10, 2013 (LBO) – Sri Lanka has come second after Bangladesh for concentrations of cadmium in a listing of 12 countries where rice was tested for toxic metals, a media report said.Cadmium had been linked to a mysterious kidney disease of which the original are still not conclusively known (chronic kidney disease of unknown […]
Great Expectations
June 10, 2013 (LBO) – Sri Lanka’s small and medium enterprises could use e-commerce “to grow exponentially,” software and outsourcing chamber official said welcoming plans by authorities to liberalize Paypal inward payments.Central Bank Governor Nivard Cabraal said last month, that the regulator was “seriously” looking at liberalizing Paypal inward remittances, which had been blocked in […]
Sri Lanka monsoon death toll climbs to 31
COLOMBO, June 10, 2013 (AFP) – Naval boats and helicopters scoured seas off Sri Lanka Monday for dozens of missing fishermen, as the confirmed death toll from heavy monsoon rain and strong winds rose to 31, an official said.The bodies of 30 fishermen plus one victim on land have so far been recovered while another […]
‘s rupee hits record low against the dollar
MUMBAI, June 10, 2013 (AFP) – India’s rupee hit a record low of 57.54 against the dollar on Monday on growing demand for dollars among oil importers, while the greenback was also boosted by upbeat US jobs data.The partially convertible rupee hit its previous low of 57.32 against the dollar on June 28 last year.On […]
AirAsiaX plans huge fleet expansion with IPO
KUALA LUMPUR, June 10, 2013 (AFP) – Malaysian long-haul budget carrier AirAsia X said Monday it plans to use proceeds from a public listing to more than triple its fleet in the next four years to meet demand in Asia-Pacific.Aviation tycoon Tony Fernandes said the long-haul arm of budget giant AirAsia hopes to raise up […]
Cricket: Two Sri Lankans pulled up for excessive appealing
CARDIFF, June 9, 2013 (AFP) – Former Sri Lankan captains Mahela Jayawardene and Tillakaratne Dilshan have been reprimanded for appealing excessively during Sunday’s tense Champions Trophy clash against New Zealand.The charges against Jayawardene and Dilshan were laid by on-field umpires Bruce Oxenford and Rod Tucker, and television umpire Ian Gould. An official reprimand is the […]
19 dead as monsoon lashes Sri Lanka
COLOMBO, June 9, 2013 (AFP) – Monsoon rains and strong winds in Sri Lanka have killed at least 19 people with dozens more missing, most of them fishermen caught in rough seas, officials said on Sunday. A 20-foot (17-metre) long whale washed ashore in Colombo on Saturday while a stranded giant sea turtle was rescued […]
Moving Foreward
June 08, 2013 (LBO) – Sri Lanka’s Kia automobile distributor which launched the 2013 Sorento sport utility model in Colombo is banking on tax slashed permits issued to state workers to sell the vehicles, an official said.“We haven’t gone in to those markets yet but I am sure there is potential,” Perera said.“I guess with […]
Five dead, dozens missing as monsoon lashes Sri Lanka
June 8, 2013 (AFP) – At least five people were killed and dozens were missing as strong monsoon rains and wind lashed Sri Lanka on Saturday, damaging buildings on the tropical island, police said.Five people were confirmed dead, four at sea and one on land, while dozens of fishermen were missing, police spokesman Buddhika Siriwardena […]