Category: Industry
Heavy Bag
Sri Lanka’s government has estimated the cost of rebuilding after last month’s devastating tsunami at billion, with a bulk of the money needed for housing, fishing boats and water supply facilities.Sri Lanka’s government has estimated the cost of rebuilding after last month’s devastating tsunami at $2 billion, with a bulk of the money needed for […]
Closing In
Apply for tax amnesty before January 31 to avoid post 2002 tax investigations, says the Inland Revenue.Apply for tax amnesty before January 31 to avoid post 2002 tax investigations, says the Inland Revenue. The blanket tax amnesty granted in 2003 is no longer valid and the taxmen are closing in on tax evaders. One way […]
Asian Dollars
In a camp for internally displaced persons (IDPs) here, Ganesh Thuraivasa, 38, is a fisherman who lost his fishing boat and nets in the tsunami that struck Sri Lanka’s eastern coastline on 26 December.In a camp for internally displaced persons (IDPs) here, Ganesh Thuraivasa, 38, is a fisherman who lost his fishing boat and nets […]
Warning
The IMF has warned that high inflation would burn up the benefits of the large amounts of aid being pledged for Sri Lanka’s post tsunami reconstruction. The IMF has warned that high inflation would burn up the benefits of the large amounts of aid being pledged for Sri Lanka’s post tsunami reconstruction. A top executive […]
PFI margin up
The Central Bank has agreed to increase the intermediation margin for financial institutions for on-lending money to tsunami affected small businesses.The Central Bank has agreed to increase the intermediation margin for financial institutions for on-lending money to tsunami affected small businesses. The Bank earlier said commercial banks would get 1 percent for intermediation cost for […]
Package Deal
The Ministry of Health is says it will introduce new regulations on food labelling, for packaged food items, by end of January.The Ministry of Health is says it will introduce new regulations on food labelling, for packaged food items, by end of January. “We have already sent the regulations to the government printer.They should be […]
Tourist arrivals could dip 20% this year, from expected record levels.
Tourist arrivals could dip 20 percent from over 560,000 expected this year, even as the industry throws together a package of incentives to jumpstart hotels hit by tidal waves.Tourist arrivals could dip 20 percent from over 560,000 expected this year, even as the industry throws together a package of incentives to jumpstart hotels hit by […]
Late Train
Sri Lanka’s southern rail service will be back on track by March, with the Department estimating the repair bill to restore the tract to touch Rs.1.6 billion. Sri Lanka’s southern rail service will be back on track by March, with the Department estimating the repair bill to restore the tract to touch Rs. 1.6 billion. […]
Dogged by Trouble
The Ministry of Health says the risk of rabies has increased because of the large number of displaced dogs in tsunami-affected areas.The Ministry of Health says the risk of rabies has increased because of the large number of displaced dogs in tsunami-affected areas. “There are no confirmed cases of rabies but the risk has of […]
Tread Carefully
The International Monetary Fund says Sri Lanka will be hard pressed to keep its country reserves at pre-tsunami levels, as a heavy import bill will negate an inflow of dollars.The International Monetary Fund says Sri Lanka will be hard pressed to keep its country reserves at pre-tsunami levels, as a heavy import bill will negate […]
Tidal Aid
Last month’s devastating tsunami will increase the strain on Sri Lanka’s government finances, but help from donors will likely prevent a full-blown crisis, officials and analysts said Wednesday.Last month’s devastating tsunami will increase the strain on Sri Lanka’s government finances, but help from donors will likely prevent a full-blown crisis, officials and analysts said Wednesday. […]
Tough Choices
The IMF plans to work on a macroeconomic impact, budgetary and balance of payments needs assessment to the tsunami-hit Sri Lanka, besides stepping in with up to US$ 160 mn in emergency financial assistance, a senior International Monetary Fund official said on Wednesday.The IMF plans to work on a macroeconomic impact, budgetary and balance of […]