Category:
Sri Lanka tax appeals process seen flawed, unjust
Sept 23, 2010 (LBO) – Sri Lankan tax payers are at the mercy of an unfair system with no proper appeal mechanism and aging members of a review board not bothering to turn up for hearings, an expert said. “Some members do not bother to turn up for the hearing of an appeal and delegate […]
Knowledge Source
Sept 22, 2010 (LBO) – India’s CRISIL, a unit of the rating agency Standard & Poor’s said it is buying Pipal Research Corporation, a knowledge process outsourcing firm for 12.75 million US dollars. The purchase will be done through , Irevna, CRISIL’s own KPO division. “The Irevna-Pipal combination will be uniquely positioned in the high-end […]
”’s
Sept 22, 2010 (LBO) – Moody’s Investors Service said it had given a ‘B1’ sovereign rating for Sri Lanka with a ‘stable’ outlook on the end of a war, low inflation and efforts to contain the budget deficit, despite having high levels of debt. “The stable outlook also considers Sri Lanka’s small size, partial dollarization, […]
Sri Lanka central bank holds policy rates steady
Sept 21, 2010 (LBO) – Sri Lanka’s central bank said it has decided to hold policy interest rates steady at a meeting Tuesday given falling market rates and increased credit flows to the private sector. The central bank said it expects market interest rates to fall further. “Market interest rates continued to adjust downwards in […]
Sri Lanka stocks close up 2.8-pct
Sept 21, 2010 (LBO) – Sri Lankan shares closed higher Tuesday in trading marked by a change in control of an asset-rich pharamaceutical firm and the first imposiotn of a price band under new rules, brokers said. The All Share Price Index closed at 6,702.99, up 2.8 percent (181.56 points) while the more liquid Milanka […]
Container Cash
Sept 21, 2010 (LBO) – Sri Lanka’s Aitken Spence has to raise 4. 5 billion rupees for its stake in a new port terminal, which if funded by debt might invite a downgrade of its ‘AA(lka)’ rating, Fitch Ratings said. Fitch Ratings Lanka is reviewing Aitken Spence’s (ASP) senior unsecured notes’ ‘AA(lka)’ National Long-term rating […]
Remittance Deal
Sep 21, 2010 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) has inked inked a deal with a financial partner in Jordan as part of a bid to expand its remittance business tenfold over two years, officials said. NSB announced a deal with JRM Alami and Partners Exchange Company in Jordan Monday to help […]
Lesson
September 20, 2010 (AFP) – The Sri Lankan government’s war probe Monday visited the final battleground where Tamil Tiger rebels were annihilated last year, but the international media was barred from reporting proceedings. However, the United Nations has estimated at least 7,000 civilians were also killed in the first four months of fighting while international […]
‘s dismal Wayamba
CENTURION, September 20, 2010 (AFP) – The Victoria Bushrangers outclassed a dismal Wayamba Elevens team at SuperSport Park on Monday night to keep alive their hopes of reaching the semi-finals of the Champions League Twenty20 tournament. But Mubarak fell to a superb catch at cover by Hussey and the Sri Lankan side collapsed ignominiously against […]
“Restart” Sri Lanka university faculty
Sept 21, 2010 (LBO) – When all else fails in a modern computer, we hit “restart.” The machine powers down, clears all kinds of dysfunctions from the system and starts fresh. Not a panacea, but works most of the time. This is what we need to do with our universities. All else has failed. In […]
Sri Lankans among Sydney rooftop protesters: refugee activist
SYDNEY, September 21, 2010 (AFP) – A group of protesting asylum-seekers Tuesday threatened to leap from the roof of a Sydney detention centre where a Fijian man plunged to his death a day earlier, an activist told AFP. Bala Vigneswaran of the Australian Tamil Congress said nine Sri Lankan Tamils, who are among 11 protesters […]
Sri Lanka B+ sovereign rating outlook lifted to positive: Fitch
Sept 21, 2010 (LBO) – The outlook on Sri Lanka’s ‘B+’ sovereign rating has been lifted to ‘positive’ from ‘stable’ on the end of a 30-year war and an agreement with the International Monetary Fund. The full statement issued by Fitch is reproduced below: Fitch Ratings has today affirmed Sri Lanka’s Long-term foreign and local […]