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Sri Lanka in bid to boost income tax payers
Oct 28, 2012 (LBO) – Sri Lanka’s revenue authority is holding a ‘national tax week’ where the public can interact with their staff in the first week of November in a bid to get more people to pay tax without fear an official said. “We want to stop the fear and uncertainty (biya har saker) […]
‘s water, sanitation expanded with ADB finance
Oct 27, 2012 (LBO) – The Asian Development Bank said it is giving 300 million US dollar loan to support a 400 million US dollar program by Sri Lanka to boost water supply and sanitation in the island’s capital. Critics say rules of China and Vietnam in particular have bowed to the aspirations of their […]
Sri Lanka stocks close lower 0.46 pct
October 26, 2012 (LBO) – Sri Lanka stocks closed down 0.46 percent Friday with most high cap banking & financial stocks closing lower. Distilleries Company of Sri Lanka PLC closed flat at 141.90 rupees. Index heavy John Keells Holdings PLC gained 0.10 cents to close at 208.10 rupees up 0.05 percent. Commercial Bank slipped 0.50 […]
No Longer
Oct 26, 2012 (LBO- Sri Lanka’s LOLC group’s ratings have been withdrawn by Fitch Ratings though the underlying ratings with negative outlooks have been confirmed. The parent LOLC’s BBB+(lka) rating, two steps up in the investment grade which also applies to 1.25 billion rupees of senior debt securities has been confirmed. LOLC’s ratings were confirmed […]
Consolidation
Oct 26, 2012 (LBO) – Sri Lanka’s Seylan Bank has reported profits of 589 million rupees for the September 2012 quarter up 48.5 percent from a year earlier, helped by lower investment provisions, interim accounts showed. The bank reported earnings of 1.74 rupees per share for the quarter. In the nine months to September the […]
Sri Lanka moves to overcome cinnamon peeler shortage
Oct 26, 2012 (LBO) – Sri Lanka is to set up a training centre to train cinnamon peelers with foreign aid and improve production standards that will help boost exports, officials said. Sarada de Silva, chairman of the Spice Council, an industry body, said the main outcome of the project will be the establishment of […]
Sri Lanka stocks closed up 0.60 pct
October 25, 2012 (LBO) – Sri Lanka stocks closed up 0.60 percent Thursday helped by blue chips and retail counters, brokers said. The Colombo All Share Index closed at 5,576.72 up 33.47 points and the S & P SL 20 Index closed 1.19 points higher at 3009.59 up 0.04 percent. Turnover was 271 million rupees. […]
Jetwing sweeps top Sri Lanka spots at World Travel Awards
Oct 25, 2012 (LBO) – Sri Lanka’s Jetwing leisure group has swept has snagged top spots for the island at World Travel Awards, a 20 year old event whose organizers say is based on votes of travel professionals and consumers. Jetwing Vil Uyana, built around a man-made wetland has been named Sri Lanka leading boutique […]
Sri Lanka East West Properties to build more hotels
Oct 25, 2012 (LBO) – Sri Lanka’s East West Properties Plc, plans to build more hotels chairman Nahil Wijesuriya has told shareholders, with the first hotel to be managed by US based Marriot group as already announced. East West is building a 200 room hotel in Weligama Bay between Gall and Matar on Sri Lanka’s […]
Sri Lanka Watawala Plantation profit from palm oil
Oct 25, 2012 (LBO) – Sri Lanka’s Watawala Plantations said it made profits of 186 million rupees in the September 2012 quarter, turning around from a loss of 16. 8 million rupees helped by palm oil. The firm reported earnings of 79 cents per share for the quarter. For the six months to June 2012, […]
Sri Lanka exports fall 13.1-pct in Aug
Oct 25, 2012 (LBO) – Sri Lanka’s exports fell 13. 1 percent to 828.9 million US dollars in August 2012 from a year earlier led by tea, while imports fell 4.7 percent to 1,750 million US dollars, official data showed. Tea exports fell 32.7 percent to 95.7 million US dollars and apparel exports fell 3. […]
Sri Lanka key tax revenues up 8-pct to Sept
Oct 25, 2012 (LBO) – Taxes collected by Sri Lanka’s internal revenue office rose 8 percent to 369 billion rupees up to September 2012, from a year earlier commissioner general Mallika Samarasekera said. With a so-called simplified VAT (SVAT) system coming into effect, refunds made to exporters had fallen she said. Sri Lanka’s value added […]