Author: lbostgadmin
Money To Fish
A Norwegian team of consultants are due this week to negotiate funding for coastal economy development, Finance Minister, K N Choksy told Lanka Business Online. rnrnldblquote The project will not be limited only to North and East. The Norwegian team will evaluate the entire coastal belt of Sri Lanka for potential development projects dblquote , […]
Future Proof
Speaking to LBO, Intel quote s GM endash Channels South Asia, Amar Babu said though Sri Lanka was behind Bangladesh in terms of sales, it was the fastest growing market in the region. rn rnldblquote With the recent political changeover in Sri Lanka, we expect demand to grow significantly. dblquote rnrnIntel is also pursuing a […]
Hear Us
The system of policy and law enactment has come under fire, for its lack of transparency and closed-door attitude to open discussion and consultation. rnrnIn a statement issued by the trade chamber, ldblquote If the private sector is to be considered the engine of growth, then it is imperative that the business community be informed […]
Helping Hand
The Manila based bank, which funded economic development and poverty alleviation projects worth US$ 2.7 bn during its 34 years stint in Sri Lanka, has already launched a North East Community Restoration and Development Project. rnrnNew projects for community development and water supply in the East are also in the pipeline, said ADB President Tadao […]
Small Openings
On the cards are a higher ownership limits on foreign stakes in financial services including banks and insurance companies. rnPresently, foreign ownership is limited to 49 percent in Finance services, 90 percent in insurance companies and 60 percent in banks. rnCentral Bank Governor A S Jayawardene said they were discussing various possibilities, lquote but the […]
Too Hot
The competition is not unique to Sri Lanka, notes visiting CIMA President Bruce Epsley. ldblquote Other rival courses are also offering university degrees and so forth. So we plans to unveil a series of value addition measures to stay ahead of the pack, dblquote he said addressing a media briefing today. rnrnCIMA exams have got […]
Short Cut
The government presently runs a two-tier tax system where provincial councils charges a 1 percent Turnover Tax (TT) while the Inland Revenue charges a 12.5 percent Goods & Service Tax (GST). rnrnThe chamber is proposing the government broadbase GST to cover all activities ranging from production distribution chain right through to the consumer and eliminate […]
Colombo Goes Online
Colombo is the latest station on the Emirates network to receive the on-line booking facility, which also allows travellers to check seat availability on all Emirates flights and obtain fare quotations. rnrnOn-line bookings have to be completed three working days prior to flight departure and tickets for on-line bookings will be delivered by Emirates to […]
Unshackling Prices
The removal of government regulation of drug prices will be a temporary measure for a period of six months to be reviewed afterwards. rnrnThe initiative, backed by Consumer Affairs Minister Ravi Karunanyake follows in the wake of the new government policy of liberalisation and deregulation. rnrnldblquote One of the key reasons for decontrol is that […]
Dry Spell
Bad weather took production figures for January down by 5 percent to 25 mn kilos, over last January quote s record volume of 27 mn kilos. Brokers however are concerned that rather than a single instance, Sri Lanka quote s tea production has been declining since November 2001. The lower January figure was the result […]
Passing The Buck
ldblquote The request will be made to the Secretary Treasury, shortly.Our auditors PWC [PricewaterhouseCoopers] has informed us that a provision would be needed to cover the exposure in the absence of a government guarantee dblquote , the source said. rnrnThe state utility has stopped paying the capital element of the repayments, but continues to service […]
No Way
IPBCC or India, Pakistan, Bangladesh, Ceylon Conference, representing 14 shipping lines serving the region has proposed an increase of US$ 300 and US$ 600 on 20 foot and 40 foot containers outward bound from Colombo. rnrnThe increase is applicable for UK, Continent, Scandinavian and Mediterranean destinations. rnrnIn a statement issued today, Shippers quote Council Chairman […]