Category: Industry
Six Stars
The recent hike, effective from April 1 has put hotels into a separate category, at a rate of up to Rs. 10.90 per unit of electricity. rnrnThis is over and above the previous net tariff rate of Rs. 5.44 a unit. rnrnHotels have been classified under the industrial tariff category since 1994, providing hotels with […]
Sea Battle Continues
In early March the WRS was completely scrapped by the London Lloyds quote War Risk Rating Committee, following heavy diplomatic lobbying and an independent security audit on Colombo port. rnrnAll members of the India, Pakistan, Bangladesh, and Ceylon Conference (IPBCC) have scrapped the WRS on the Colombo/Europe route, but some members continue to charge it […]
Learning On Screen
Widening the local education base, international governing body Edexcel is moving beyond the London O Level and A Level to make inroads into vocational education.
New Look NDB
NDB is also planning to diversify its leasing business to under-banked Maldives with the expectation of boosting its forex earnings. rnrnldblquote We will be the first leasing company in Maldives, which is a dollarised economy. If the tourism industry recovers in the near future, there would be a wide scope for the leasing business dblquote […]
Dressing Up
A steering committee set up under the aegis of the Finance Ministry is also scouting for restructuring expertise to help guide the process. rnldblquote The restructuring proposal has been sent for cabinet approval. Once the government quote s direction is clear, we will get an investment banker in to do a valuation, dblquote SLIC Chairman, […]
P2P
Peer Review is a popular practice in developed markets, where the auditing industry ensures that best practice is maintained by subjecting the audits carried out by one firm to a review by another member firm. rnrnThe recent Enron collapse in USA, brought the peer review programmes to limelight with the emphasis on growing instances of […]
Top Gear
The 100 percent Capital Allowance for a company quote s IT investments and Capital Allowance to buy up existing commercial property, are identified as key concessions to boost operating leases. rnrnEarlier, Capital Allowances were only available for newly constructed commercial property and approved condominiums. rnrnIn the new tax regime, operating leases offer twin tax benefits […]
Forging Ahead
The firm also opened a Colombo office today, as part of its efforts to strengthen its presence in Sri Lanka. rnrnThe Networking Academies will proliferate networking education and skills in Sri Lanka. Cisco has partnered with UNDP Asia pacific Development Information Programme (APDIP) for this NA expansion initiative. rnrnAPDIP, in turn, will recruit a UN […]
NU No More
Neville Ubeysinghe Jayawardene quote s contribution to the banking industry and his various enterprises was a hallmark in the local business community. He courted both fame and controversy during his life. rnrnStarting his career as a Junior Clerk in 1925 at the District Road Committee in Hambantota, he later moved on to become the Controller […]
Waging Another Battle
Finance Minister K N Choksy plans to enact fresh legislations to lure tax evaders.The law, he said, will not place a premium on tax evasion nor is it a form of tax amnesty. rnTax dodgers can park their monies in specified development areas like agriculture, industry or utility services; or in treasury bonds or in […]
Ticked Off — Budget Update 4
The budget proposals today scrapped the 20 percent surcharge levied on corporate taxation and raised the tax exempt personal income to Rs. 240,000 per annum from Rs. 144,000.
MICE Hunt
Driven by the belief that Sri Lanka can offer more than just leisure tourism, hard driven efforts are underway to harness the business community in attracting high spending corporate tourists. rnrnldblquote We need a collective effort from various industry sectors to go out and actively bid for Sri Lanka to handle regional and international conferences […]