Category:
Business Plan
The Freedom Alliance says it will simplify the current tax system to generate the required revenue when it comes to power in the April polls.ldblquote Government revenue in relation to GDP has declined to 14 per cent in 2003, due to corrupt tax amnesties, numerous exemptions, generous concessions and a rundown tax administration, dblquote the […]
Q & A
UNF officials claim the Alliances campaign is dominated by the JVP agenda even allowing them to dominate the partys economic policies.rn rnThis, the UNF says jeopardizes economic stability and could push the country to the same plight as North Korea. rn rnComposed by Deputy Finance Minister Bandula Gunawardena, the 10 questions, UNF officials say, are […]
No. No? No!
The Freedom Alliance says it will ldblquote stop the privatization of national resources and public institutions and make them to play an important role in the regeneration of the national economy. dblquote The Alliance revealed its economic policies on Thursday in its party manifesto, with high hopes to form a fresh government after the April […]
Flat Outlook
Treasury rates remained flat at this weeks auction ahead of Central Banks monthly monetary policy announcement on Friday.Market players are not expecting the bank to tinker with the short-term rates, though the Finance Minister recently announced that the government-borrowing programme would shoot up by Rs.22 bn this year.rn rnAfter nearly two-years of tough fiscal management, […]
Labour Of Love
Ten years of trying and the biggest bargaining tool in the local economy saw the light of day at the Labour Ministry on Wednesday bearing the harmless title lquote The Labour Code of Sri Lanka.The Labour Code of Sri Lanka brings together 26 of the most important labour legislation in Sri Lanka that directly influence […]
Spadework
Sri Lanka Telecom said it was pumping Rs. 600 mn to float a fully owned subsidiary endash Telecom City (Pvt) Ltd.SLT said the capital injection would come in on a staggered basis to suit progress and development of the project.rn rnIn the first instance, it has been decided to pay up Rs. 2.50 per share […]
Emergency Merit
The Power Ministry is calling upon the Sri Lankan public to collect merit for their after-life by saving power, while industrialists with generators will also get cash into the bargain, if they use their own power.The Ceylon Electricity Board, Sri Lankas power utility which runs into power shortages every few years, is now trying to […]
Funding Live
Standard Chartered Bank said on Wednesday that it was the lead arranger to a US$ 86 mn seven-year syndicated loan facility to fund Mobitel (Pvt) Ltd.s expansion drive.Eight local banks participated in the US dollar/Sri Lanka rupee syndication, while the Swedish Export Credit Agency, or EKN, had given it “partial support”.rn rnThe syndication partners included […]
Not Fair
Sampath Bank chief has rapped authorities for continuing to look at financial instruments as a convenient source of raising revenue.The banking sector currently forks out 15 percent of their earnings as Value Added Tax.rn rnThe charge was brought in last year, fixed at 10 percent computed on total gross emoluments paid to employees and the […]
Play Phone
Mauj, an Indian based mobile content provider made its first foray into the local market, launching a Java based cricket game for mobiles. However, the game will not be available in Sri Lanka until local network providers sign up with Mauj to distribute its content.rn rnRicky Ponting Cricket 2004, launched Tuesday is only one of […]
Red Herring
The ambitious new regulations on food labelling and advertising could turn out to be an April fools joke, as the trade pushes to delay its implementation, while the Health Ministry pussyfoots the issue. The regulations, due to come into force on April 1, sets out new legal standards for the labelling and advertising of food […]
Standing Up
Transparency International, an NGO that fights corruption worldwide says the country needs to make lquote abuse of public resources during elections a criminal offense.Local politicians freely use government resources like vehicles, official residences and government employees in their election campaigns.rn rnldblquote Merely commenting on it will not be enough. We want the media also to […]