Category:
Cost Base
Feb. 21 (LBO) — Sri Lanka’s telecom tariffs will be put to the test under a new cost based study initiated by the island’s telco watchdog. The Telecommunications Regulatory Commission (TRC) this week called for expressions of interest from consultants to develop a cost based tariff table, studying the three fixed and four mobile service […]
Vote: With the ballot or with your feet?
Feb 21, 2006 (LBO) — In some discussions in 2002-04 when the government was interested in a bridge cum utility conduit over the Palk Strait (the now forgotten “Hanuman Bridge”), someone expressed concern that it would make illegal immigration to Sri Lanka easier. My reaction was that I wished that were true. In the 1960s, […]
Last Warning
Feb. 21 (LBO) – About 50 public sector trade unions called off a planned strike, giving the government a ten day ultimatum to sort out salary anomalies. Unions want the government to give low and middle level public sector workers higher wage increases, instead of the 25 percent or less approved by a government circular […]
Here’s Hoping
Reports that the treasury has set off tax liabilities of the Ceylon Petroleum Corporation against the full subsidy due from the government, has raised expectations that Lanka IOC would also get the full subsidy owed to it. The treasury has agreed to set off Rs. 25 billion in taxes due to the government, a top […]
Money changers given more time to put up capital
Feb 20 (LBO) – Money changers who lost their license have been given a second chance by the Central Bank to continue their business. Five money changers who lost their license have been given till February 28 to put up the extra Rs.9 million to meet the enhanced capital of Rs.10 million, the Central Bank’s […]
Hard Boiled
Feb. 20 (LBO) – Sri Lanka is staying tough on bird flu regulations, despite reports that an Indian man suspected to have died of avian influenza, was in fact killed by a bacterial infection. Indian health officials have ruled out bird flu in the death of an Indian man after laboratory tests on Sunday showed […]
Treasure Hunt
Feb. 20 (LBO) – India’s Reliance group is scouting for investment opportunities in Sri Lanka, with an eye on oil exploration in potential areas off Mannar on the Western coast, officials said Monday. Two rounds of seismic surveys have shown that Sri Lanka has potential oil reserves in the Cauvery Basin off the west coast, […]
‘s Hoping
Reports that the treasury has set off tax liabilities of the Ceylon Petroleum Corporation against the full subsidy due from the government, has raised expectations that Lanka IOC would also get the full subsidy owed to it. The treasury has agreed to set off Rs. 25 billion in taxes due to the government, a top […]
Celluloid Ratings
Feb. 19 (LBO) – Sri Lanka is to go ahead with a controversial plan to tax imported film and television programs, which may result in the entertainment of minority language speakers of the island being heavily taxed to support programs produced in the majority language. -LBO Newsdesk: LBOEmail@ Imported movies would be taxed at the […]
Killer Kindness
Feb 18, (LBO) – Due ignorance about basic economics, the poor in South Asia are seeing economy-wide price rises, and resources that could be used to lift them out of poverty in the long term being squandered on consumption subsidies. In 2005 for example, the Sri Lanka’s largest petroleum utility, the Ceylon Petroleum Corporation is […]
Sri Lanka plans rated bond to restructure debt
Feb. 17 (Dow Jones)– Sri Lanka wants to float an international bond this year to gauge market response as well as see if it can raise debt at a reasonably low interest rates, the treasury secretary said Thursday. The treasury is awaiting a response from Citibank advising on the size of the issue, which could […]
Digging Deep
Feb. 17 (LBO) – Sri Lanka’s Seylan Bank Friday announced plans to boost capital by a billion rupees through a rights issue. The bank plans to issue 83.5 million in non-voting shares each at Rs. 12.50 to both voting and non-voting shareholders, Company Secretary M R S Gunasekara said in a statement to the stock […]