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Sri Lanka planned land rights legislation queried
Mar 19, 2013 (LBO) – A law to apparently improve people’s absolute property rights while another declared policy is aimed at taking away existing liberties has raised queries whether the moves are intended to benefit interest persons, a legislator has said. Under feudal rule, land was mostly owned by the king. Citizens held and used […]
Smart Traffic
Mar 18, 2013 (LBO) – Sri Lanka’s expressways will get hi-tec equipment to monitor traffic, disseminate information including weather and analyze data to solve problems relating to traffic conditions, the Japan International Co-operation Agency said. Data from existing closed circuit TV cameras, patrol vehicles, Police and expressway users could also be combined and relevant information […]
Financial Turmoil
TOKYO, March 18, 2013 (AFP) – The euro dived in Asia Monday as news that Cyprus would have to tax bank customers’ deposits as part of an EU bailout stoked eurozone fears, sending investors flocking to the safe-haven yen.In afternoon Tokyo trade, the euro sank to 121.77 yen from 124.61 yen in late New York […]
Smartphone
Mar 18, 2013 (LBO) – Dialog Axiata Plc, Sri Lanka’s largest cellco said it has launched two own brand Android based handsets with which it hopes encourage mass-adoption of Smartphones in the country.Hans Wijesuriya, group chief executive of Dialog Axiata said the move will allow every citizen to afford a Smartphone. He said the Dialog […]
Sri Lanka second airport to support aviation hub strategy: President
Mar 18, 2013 (LBO) – The opening of a second international airport in Mattala in Hambantota on March 18, strengthens Sri Lanka’s strategy to become an aviation hub, President Mahinda Rajapaksa said. The airport has a 3,500 meter ‘code F’ runway capable of handling Airbus A380 aircraft. He declared March 18 as the civil aviation […]
Sri Lanka opens second international airport
Mar 18, 2013 (LBO) – Sri Lanka President Mahinda Rajapaksa inaugurated the island’s second international airport in Mattala, Hambantota after arriving in a state-run SriLankan Airlines aircraft Monday.The Chinese financed Mattala Rajapaksa International Airport, named after the president, can handle a million passengers and 45,000 tonnes cargo annually. Air Arabia, a UAE based budget carrier, […]
India calls off defence talks with Sri Lanka: report
Mar 18, 2013 (LBO) – India has called off annual defence talks with Sri Lanka scheduled to have been held on March 25 amid protests from Tamil parties, a media report said.The Press Trust of India, a news agency, said no reason was given for cancelling the Secretary-level talks and no new dates have been […]
Sri Lanka offers tax-free zone at new airport
MATTALA, Sri Lanka (AFP) – Sri Lanka is turning its newest international airport opening Monday into a tax-free zone to attract aviation-related industries, a top official said.Mattala was initially planned as an expansion of the small Wirawila military airstrip, but Wickremasuriya said they shifted the location 25 kilometres (16 miles) away to ensure no disruption […]
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Mar 16, 2013 (LBO) – Retaining the confidence of external portfolio investors in key to maintaining stability in the exchange rate and balance of payments, Mood’s Investors Services has said. In 2012 central bank also transferred its year-end profit to the Treasury not as rupee liquidity but as a book entry against maturing Treasuries, again […]
Sri Lanka casino tax cut under fire
Mar 16, 2013 (LBO) – A proposal to lift a series of taxes from casinos and impose only a five percent tax has drawn fire from Sri Lanka’s main opposition, as basic goods including foods are taxed at much higher rates.Such firms get income tax holidays, relief from economic services charge, port and airport levy […]
Mobile Banking
May 15, 2013 (LBO) – Sri Lanka’s Hatton National Bank, which has more than two million customers, has launched a mobile banking platform to which it is planning to draw 300,000 users in the next three years, officials said.Rodrigo said from next month the service will allow transfers to accounts in other banks. Jonathan Alles, […]
Sri Lanka state airlines to operate 11 frequencies from Mattala
Mar 15, 2013 (LBO) – State-run SriLankan Airlines said it will operate nine flights a week out of Sri Lanka’s second international airport in Mattala, which is opening next week while its sister budget carrier will operate two flights. SriLankan Airlines will fly twice a week to Riyadh, four times to Male, twice to Beijing […]