Category:
Waiting Game
The Asian Development Bank has asked Sri Lanka to step up the momentum of tsunami reconstruction and said it was awaiting agreement between Tamil Tiger rebels and the government over relief distribution.The Asian Development Bank has asked Sri Lanka to step up the momentum of tsunami reconstruction and said it was awaiting agreement between Tamil […]
Empty Chest
The Asian Development Bank admits it has not given a cent to Sri Lanka so far, as the US$ 150 mn tsunami assistance programme will only go before its board in mid April, a top official said.The Asian Development Bank admits it has not given a cent to Sri Lanka so far, as the US$ […]
Tsunami damaged industries need a minimum Rs. 1.2 bn to rebuild businesses
Industrial Development Board says micro, small, medium and large scale industries damaged by the December tsunami need a minimum Rs. 1.2 bn to reestablish their businesses.Industrial Development Board says micro, small, medium and large scale industries damaged by the December tsunami need a minimum Rs. 1.2 bn to reestablish their businesses. The findings are part […]
Sethusamudram is for Indian security and will not threaten Sri Lanka economically
India’s US $ 400 mn Sethusamudram canal is aimed at improving Indian security and will not threaten Sri Lanka economically, say experts. India’s US $ 400 mn Sethusamudram canal is aimed at improving Indian security and will not threaten Sri Lanka economically, say experts. Local experts say Sethusamudram will only accommodate feeder vessels and the […]
Slow Pace
Reconstruction of tsunami-hit infrastructure and homes along Sri Lanka’s ravaged coast has been delayed because pledged donor aid is only trickling in and relief agencies are still discussing plans, the government says.Reconstruction of tsunami-hit infrastructure and homes along Sri Lanka’s ravaged coast has been delayed because pledged donor aid is only trickling in and relief […]
Hungry Mouths
HSBC Bank picked up Rs. 400 mn worth of leased backed paper, locking returns for up to four-years.HSBC Bank picked up Rs. 400 mn worth of leased backed paper, locking returns for up to four-years. People’s Leasing Co. issued the lease-backed securities in the form of a direct loan as a cost effective method to […]
Group Cover
LIC Lanka says Sri Lanka’s low income workforce could be covered by a group insurance policy partially funded by the government.LIC Lanka says Sri Lanka’s low income workforce could be covered by a group insurance policy partially funded by the government. The insurer’s board of directors have agreed to pitch the idea to the government, […]
Local civil aviation laws are being tweaked to make it easier for aviation sports to take to the skies.
Local civil aviation laws are being tweaked to make it easier for adventure aviation sports like gliding and para-jumping to take to the skies.Local civil aviation laws are being tweaked to make it easier for adventure aviation sports like gliding and para-jumping to take to the skies. Aviation sports have long been restricted by security […]
Clear Line
Lanka Internet Services Ltd could become Sri Lanka’s eighth telecom service provider, operating an islandwide network under its existing enhanced voice license.Lanka Internet Services Ltd could become Sri Lanka’s eighth telecom service provider, operating an islandwide network under its existing enhanced voice license. The internet solutions and international calling card operator’s management and a team […]
BOI companies in tax net from April
BOI companies will be pulled into the local tax net for the first time from April this year, through the Economic Service Charge (ESC). BOI companies will be pulled into the local tax net for the first time from April this year, through the Economic Service Charge (ESC). “The BOIs were not expected to pay […]
BTT or Not?
Stiff political opposition stops Sri Lanka’s key local body from raising taxes by four percent, for the first time in 15 years.Stiff political opposition stops Sri Lanka’s key local body from raising taxes by four percent, for the first time in 15 years. The Western Provincial Council – which controls over 50 percent of Sri […]
Sri Lanka’s trade deficit narrows to its lowest point, says Central Bank
Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports of textiles, diamonds, electrical equipment and building materials took the pressure of the Exchequer.Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports […]