Tag: Sri Lanka

Oct 24, 2013 (LBO) – Sri Lanka is too reliant on government foreign borrowings and foreign currency risks are also rising for borrowers who may not have forex revenues, Fitch Ratings has said.Sri Lanka has been unable to attract high levels of foreign direct investments since the end of a war with FDI averaging 1.2 […]

Oct 23, 2013 (LBO) – Sri Lanka’s main opposition United National party hailed a move by the administration to delay final approval for tax breaks, for casino resorts which had come under fire.“We are happy to note the hard fought victory for the people of Sri Lanka in round one of the ongoing battle to […]

Oct 22, 2013 (LBO) – Sri Lanka is kicking off the budget process for 2014 presenting spending limits or appropriations for ministries in parliament Tuesday. Among key spending amounts set for ministries include 253 billion rupees for defence and urban development down from 289 billion rupees a year earlier, ports and highways 144 billion rupees […]

Oct 17, 2013 (LBO) – Allianz Lanka, a unit of Germany’s Allianz insurance group said it was supporting the Paralympic movement in Sri Lanka. Allianz has a partnership with the International Paralympic Committee since 20006 has tied up with Sri Lanka’s National Federation of Sports for the Disabled (NFSD). Surekha Alles, Allianz Lanka chief executive […]

Oct 15, 2013 (LBO) – Sri Lanka is valuing fixed state assets as part of efforts to move into accrual accounting and about 75 percent of land and buildings have been valued so far, an official said.State agencies do not have proper documentation such as survey plans, which makes valuation difficult, he said. The Valuations […]

Oct 15, 2013 (LBO) – Sri Lanka stands to lose about 120 billion rupees a year from gaming revenues from planned casinos and taxes will be imposed if the opposition comes to power, a legislator said.John Keells Holdings has not asked for a tax holiday for gaming revenues, he said. De Silva said even if […]

Oct 15, 2013 (LBO) – Sri Lanka’s Institute of Policy Studies has released its annual ‘State of the Economy’ policy report. This year’s report ‘Sri Lanka’s Transition to a Middle Income Economy.’ The report covers areas of international trade, exports, state investments and spending and other policy issues. A full statement on the report released […]

STOCKHOLM, October 14, 2013 (AFP) – US trio Robert Shiller, Eugene Fama and Lars Peter Hansen won the Nobel Economics Prize on Monday for groundbreaking work on spotting trends in markets, the jury said. It was established in 1968 by the Swedish central bank to celebrate its tricentenary, and first awarded in 1969.The other prizes […]