Category:
Getting Abuzz
Distilleries Company of Sri Lanka Group has bought a 76.6 percent of telco Lanka Bell for US$ 16 million (Rs.1.61 billion), officials said Monday.Distilleries Company of Sri Lanka Group has bought a 76.6 percent of telco Lanka Bell for US$ 16 million (Rs. 1.61 billion), officials said Monday. The move comes after the group’s Milford […]
‘s balance of payments a boost
The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s balance of payments into the black for the first six months of this year, the Central Bank said Monday. The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s […]
The ‘Red’ Tape
A fishing community in Kirinda, in Southern Sri Lanka, could lose their livelihood as their harbor is filling up with sand brought in by the tides. A fishing community in Kirinda, in Southern Sri Lanka, could lose their livelihood as their harbor is filling up with sand brought in by the tides. A dredger that […]
This For That
Government is likely to lose up to Rs.7 billion in VAT collections after the Cabinet decided to remove the tax from diesel imports.Government is likely to lose up to Rs. 7 billion in VAT collections after the Cabinet decided to remove the tax from diesel imports. The VAT removal legitimizes the Treasury policy towards the […]
” Tape
A fishing community in Kirinda, in Southern Sri Lanka, could lose their livelihood as their harbor is filling up with sand brought in by the tides. A fishing community in Kirinda, in Southern Sri Lanka, could lose their livelihood as their harbor is filling up with sand brought in by the tides. A dredger that […]
Coming Together
Two years after the process started, NDB and its commercial banking arm NDB Bank announced the companies will merge next month, after parliament amended the NDB Act.Two years after the process started, NDB and its commercial banking arm NDB Bank announced the companies will merge next month, after parliament amended the NDB Act. The NDB […]
Clear Run
Sri Lanka was cleared of a tsunami alert after an earthquake of a magnitude of 7.3 on the Richter scale was reported in the Nicobar Islands at 9.42 pm local time, meteorological department officials said Sunday.Sri Lanka was cleared of a tsunami alert after an earthquake of a magnitude of 7.3 on the Richter scale […]
CEB: Plug Pulled
The Japanese government, that pulled the plug on a US$ 30 million program loan linked to power sector reforms, says government will have to renegotiate funding under its new unbundling plan for the CEB. The Japanese government, that pulled the plug on a US$ 30 million program loan linked to power sector reforms, says government […]
Fitch Rating upgrades Hatton National Bank’s rating
Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. A (sri) rating denotes a low expectation of credit […]
VAT’s the Fuss?
Sri Lanka’s cash strapped Treasury will forego Rs. 7 billion in revenue as the government scraps the value added tax component on diesel with immediate effect, officials said.Sri Lanka’s cash strapped Treasury will forego Rs. 7 billion in revenue as the government scraps the value added tax component on diesel with immediate effect, officials said. […]
‘s rating
Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. A (sri) rating denotes a low expectation of credit […]
Off The Table
Sri Lanka plans to draw up laws to prevent key state-run companies from being privatised, Finance Minister Sarath Amunugama said Friday.Sri Lanka plans to draw up laws to prevent key state-run companies from being privatised, Finance Minister Sarath Amunugama said Friday. Top on the list is loss making government utilities, Ceylon Electricity Board and Ceylon […]