Category: Industry
Cost Base
Feb. 21 (LBO) — Sri Lanka’s telecom tariffs will be put to the test under a new cost based study initiated by the island’s telco watchdog. The Telecommunications Regulatory Commission (TRC) this week called for expressions of interest from consultants to develop a cost based tariff table, studying the three fixed and four mobile service […]
‘s Hoping
Reports that the treasury has set off tax liabilities of the Ceylon Petroleum Corporation against the full subsidy due from the government, has raised expectations that Lanka IOC would also get the full subsidy owed to it. The treasury has agreed to set off Rs. 25 billion in taxes due to the government, a top […]
Treasure Hunt
Feb. 20 (LBO) – India’s Reliance group is scouting for investment opportunities in Sri Lanka, with an eye on oil exploration in potential areas off Mannar on the Western coast, officials said Monday. Two rounds of seismic surveys have shown that Sri Lanka has potential oil reserves in the Cauvery Basin off the west coast, […]
Hard Boiled
Feb. 20 (LBO) – Sri Lanka is staying tough on bird flu regulations, despite reports that an Indian man suspected to have died of avian influenza, was in fact killed by a bacterial infection. Indian health officials have ruled out bird flu in the death of an Indian man after laboratory tests on Sunday showed […]
Here’s Hoping
Reports that the treasury has set off tax liabilities of the Ceylon Petroleum Corporation against the full subsidy due from the government, has raised expectations that Lanka IOC would also get the full subsidy owed to it. The treasury has agreed to set off Rs. 25 billion in taxes due to the government, a top […]
Celluloid Ratings
Feb. 19 (LBO) – Sri Lanka is to go ahead with a controversial plan to tax imported film and television programs, which may result in the entertainment of minority language speakers of the island being heavily taxed to support programs produced in the majority language. -LBO Newsdesk: LBOEmail@ Imported movies would be taxed at the […]
On Cue
Feb. 17 (LBO) – Sri Lanka Telecom (SLT) said Friday, group net profits for the fourth quarter of 2005 topped Rs. 604 million, despite continued losses from its mobile subsidiary and a levy on international calls. The cash rich dominant fixedline operator posted net profits of Rs. 3,093 million, while revenues surged 10 percent to […]
Missing Numbers
Sri Lanka’s telecom watchdog on Friday gave a 15 day ultimatum to seven telco firms for delays in presenting their financial statements. Firms failing to comply with the order by the deadline begining February 17, will be slapped with fines or an embargo on regulatory approval for tariff, equipment imports and frequency allocation. The Telecommunication […]
Digging Deep
Feb. 17 (LBO) – Sri Lanka’s Seylan Bank Friday announced plans to boost capital by a billion rupees through a rights issue. The bank plans to issue 83.5 million in non-voting shares each at Rs. 12.50 to both voting and non-voting shareholders, Company Secretary M R S Gunasekara said in a statement to the stock […]
Road Runner
Feb. 16 (LBO) – Transport experts say more private vehicles are coming into Colombo despite a drop in the number of people traveling to the city. Fewer bus runs and appalling service levels on public transport contributed to the rise in private vehicles entering Colombo, former National Transport Commission chief Prof. Amal Kumarage said Thursday. […]
Re-birth
Jan 16 (LBO) – Sri Lanka™s Registrar General™s Department will computerise its database of birth certificates issued since 1864, for easier access to public records. The country has no proper computerized birth certificate, death certificate and land deed database, with paper certificates still clogging up the system. The Registrar General of Sri Lanka Mr. L.K. […]
Trend Setter
Feb. 16 (LBO) – Sri Lanka’s Ceylinco Insurance Co. Ltd. said Thursday that they retained their market leadership in the insurance sector last year, with consolidated premium income of Rs 12.8 billion and a 32 percent market share in both Life and General insurance segments. Ceylinco Life saw premium income rise 21 percent to Rs. […]