Category: Industry
Cut off
The Ceylon Chamber of Commerce says it will lobby the Government to remove restrictions on tax deductible expenses proposed in the 2005 budget. The Ceylon Chamber of Commerce says it will lobby the Government to remove restrictions on tax deductible expenses proposed in the 2005 budget. Removing overseas travel and entertainment bills from income before […]
Home Made
Local software vendors will get 50 percent of the total billings of all business software solution implementations in the state sector, to boost industry’s revenues closer to the US$ 1 billion mark by 2012.Local software vendors will get 50 percent of the total billings of all business software solution implementations in the state sector, to […]
Respect Mr. Public Servant
Inland Revenue Department is being geared up to collect more taxes from next year.Inland Revenue Department is being geared up to collect more taxes from next year. The government is planning to increase tax collections by Rs. 69 billion next year or roughly three percent of GDP The Department of Inland Revenue says they plan […]
Power Politics
The 2005 budget jacked up renewable energy tariffs, stepping squarely into a running battle between mini-hydro developers and the state power utility.The 2005 budget jacked up renewable energy tariffs, stepping squarely into a running battle between mini-hydro developers and the state power utility. Finance Minister Dr. Sarath Amunugama said on Thursday that renewable sources of […]
Little Tweaks
Government brings new proposals to compute executive perks and attract foreign currency holders to stash their cash in local banks.Government brings new proposals to compute executive perks and attract foreign currency holders to stash their cash in local banks. Finance Minister Sarath Amunugama says the changes are essential to ‘encourage socially responsible citizens’, but that […]
Money Minded
The Treasury Secretary says Sri Lanka’s national budget for 2005 is geared to generate funds internally without waiting for donor assistance. The Treasury Secretary says Sri Lanka’s national budget for 2005 is geared to generate funds internally without waiting for donor assistance. “If donor assistance fits into our development strategy, we take it. But if […]
Drawing Power
Sri Lanka’s power demand peaked at a new high of 1559.9 MW last night, as people plugged in to watch and listen with bated breath to the government’s maiden budget.Sri Lanka’s power demand peaked at a new high of 1559.9 MW last night, as people plugged in to watch and listen with bated breath to […]
Check Point
The Colombo port could start scanning its cargo for nuclear and radioactive content by end next year under the US Megaports initiative.The Colombo port could start scanning its cargo for nuclear and radioactive content by end next year under the US Megaports initiative. A visiting US team will end a third round of talks with […]
Local retail outlets are gearing for a busy holiday season.
Indian tourists looking around for branded bargains are on a buying spree in Sri Lanka and local retail outlets are gearing for a busy holiday season.Indian tourists looking around for branded bargains are on a buying spree in Sri Lanka and local retail outlets are gearing for a busy holiday season. “There has been an […]
Emirates report its best ever half year results
Strong passenger and cargo demand coupled with better yields has helped Middle East airline giant Emirates report its best ever half year results with a net profits of US6 million.Strong passenger and cargo demand coupled with better yields has helped Middle East airline giant Emirates report its best ever half year results with a net […]
Poor Health
Prevention, they say, is better than cure – it is also a lot cheaper, as Sri Lanka’s cash starved health authorities have finally worked out.Prevention, they say, is better than cure – it is also a lot cheaper, as Sri Lanka’s cash starved health authorities have finally worked out. On Tuesday the Ministry of Health […]
New Extensions
Wireless local loop operator Lanka Bell is splashing US$ 500,000 in internal funds for network expansion in 2005.Wireless local loop operator Lanka Bell is splashing US$ 500,000 in internal funds for network expansion in 2005. Suppliers, US based Airspan Networks on Monday said Lanka Bell will use the equipment to expand its existing Proximity-based fixed […]