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‘t Be Duped
The Central Bank on Wednesday warned the public against using foreign currency bank drafts or membership charges to invest in pyramid or similar referral marketing schemes.The Central Bank on Wednesday warned the public against using foreign currency bank drafts or membership charges to invest in pyramid or similar referral marketing schemes. The notice, the fourth […]
Reverse Psychology
The Inland Revenue Dept has submitted a paper to overturn part of the tax amnesty bill presented by the previous government.The Inland Revenue Dept has submitted a paper to overturn part of the tax amnesty bill presented by the previous government. Once parliamentary nod comes through, the amendment will give the taxman powers to recover […]
Terror Stalks Scribes
The Sri Lankan government came under fire from a Parisian based media organization for its poor track record to protect local journalists and suggested an independent Special Investigation Unit with judicial powers be created to reopen inquiries into crimes against reporters. rnrn rnEven as rnthreats against journalists in Eastern Sri Lanka reached alarming levels over […]
Holding Fire
Sri Lanka on Tuesday agreed to sign up to a United Nations treaty to discipline its use of landmines, booby traps and certain other conventional weapons.Sri Lanka on Tuesday agreed to sign up to a United Nations treaty to discipline its use of landmines, booby traps and certain other conventional weapons. The Cabinet has given […]
Tax Treat
A Sri Lanka-US taxation treaty kicked in on Monday, harmonising joint tax laws and allowing for tax credit and concessions for investors in both countries. Representatives of both governments exchanged Instruments of Ratification for the Convention of Avoidance of Double Taxation and Prevention of Fiscal Evasion, on Monday.rn rnThe proposed Treaty will relieve Double Taxation […]
Sweet Dreams
Fulfilling the dreams and aspirations you have for your child becomes a reality with Arshirvada Child Life Plan launched recently by Life Insurance Corporation (Lanka) Ltd.Arshirvada provides financial security for your childrens education and marriage with yearly bonuses and gains to secure their future.rn rnR Gopinath, CEO of LIC Lanka Ltd. says that this policy […]
Soft Touch
Showing it soft side, Microsoft extended its lquote Unlimited Potential (UP) grant programme to Sri Lanka to help IT based community technology and learning centers deployed by non-governmental organizations.Microsoft, has dolled out some US$ 79 million (Rupees 8137 million) in monetary grants, software, technology solutions, curriculum donations and employee volunteer hours to 78 countries through […]
Bond Travails
Treasury bond yields have climbed nearly 300 basis points in the last eight months since the Presidents takeover of three key ministries that led to elections and a UPFA government taking office.Bond dealers expect yields to climb further if the government goes on a spending spree funded through the banking system. rn rnA spending spree […]
Citibank keeps its Triple A status.
Citibank N.A’s Sri Lankan unit has kept its AAA (sri) membership during a recent annual review conducted by Fitch Ratings Lanka.Citibank N.A’s Sri Lankan unit has kept its AAA (sri) membership during a recent annual review conducted by Fitch Ratings Lanka. The Triple A rating for Citibank’s unsecured senior debt reflects a very low expectation […]
Eden Resort revamps for summer.
Eden Resorts will pitch itself up-market this summer, opening its doors to niche travellers from mainly Europe, Japan and South Asia.Eden Resorts will pitch itself up-market this summer, opening its doors to niche travellers from mainly Europe, Japan and South Asia. The company put in Rs. 150 mn to revamp the 158 room luxury hotel […]