Last Updated : 30-07-2014 20:09

 
 

Business

VAT on retailers begins to pinch business value chains

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The imposition of the value-added tax (VAT) net has eroded the margins of wholesale and retail businesses in the country and the impact has now begun to be felt through the value chains as the producers too have had to bear some of the impact, Mirror Business observes.

SL given ‘partner’ status of top Indian trade fair

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Sri Lanka has been awarded the ‘partner country’ status in the forthcoming Industrial India Trade Fair, which is taking place for the 26th time in Kolkata. The trade fair, which is considered the only large scale international trade-related event in North Eastern India, is attended by 12 countries including Japan.

CSE to hold next investor forum in Hong Kong

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The Colombo Stock Exchange (CSE) has planned its third investor forum outside Sri Lanka to lure foreign investors to the country’s capital market. The investor forum will be held on September 9 at the Island Shangri-La Hotel in Hong Kong.

Investing in stock market: Is your money in safe hands?

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We invest our hard earned money in the equity market in order to reap high returns. Money is invested through a licenced stockbroker firm. There are licensed investment advisors attached to these firms. They are expected to advice clients on suitable investment opportunities.

From crisis to sustenance : Finding the right customer is not rocket science

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Ask someone why they bought a certain brand of prestige car. What do you hear? “I’ve got to keep up my status”, “I thought I’d look good in it”, “Makes me look successful”.  You wouldn’t get answers like “handles really well” or “It has a low rate of depreciation” or maybe “It’s got a really good sized boot”.

Honda launches 4 stroke genuine oil in Sri Lanka.

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Bharat Petroleum Corporation Ltd has been a trend setter and market leader in motorcycle genuine oil segment in Sri Lanka and India.

Healthy Cooking with the Sharp Healsio Microwave Ovens

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Browns & Company presents the revolutionary solution to healthy cooking with the Healsio Sharp microwave oven with steam heating technology development which effectively removes excess oil food ingredients, and reduces cell damage to food.

PACKER’S CASINO ENTRY: Where is the licence? - Harsha

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Australian casino kingpin James Packer should not be permitted to set up a casino in Sri Lanka without a valid license, in line with the Casino Business (Regulation) Act passed by the present government, an opposition legislator stated.

Industrialists worried by changes to land ownership, taxes

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The restrictions on land ownership by foreigners brought in by the government this February has disturbed the country’s industrialists the most, as fears of such restrictions would hamper foreign investments in the manufacturing sector, according to Sri Lanka’s apex industrial body.

EPF buys 10 percent stake in Cargills Bank with board influence

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Sri Lanka’s state-controlled pension fund, Employees’ Provident Fund (EPF) is believed to have made a substantial investment in Sri Lanka’s Cargills Agriculture and Commercial Bank (CACB), the yet to be launched greenfield banking unit of Cargills group, Mirror Business learns.

JKH ups integrated resort investment by US $ 200mn

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Premier blue chip John Keells Holdings PLC (JKH) has indicated to the Board of Investment (BoI) that the firm would increase its investment in the proposed integrated resort project in Glennie Street

No agreement signed with Packer directly so far: BOI

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Despite the controversy surrounding the potential social degradation and the massive tax concessions granted for James Packer’s proposed US $ 350 million resort and casino in D.R. Wijewardena Mawatha, the Board of Investment (BoI) said it had so far not entered into a formal agreement with the casino kingpin.

Govt. must invest in the right type of education: Academic

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Education remained a hot-topic of discussion on the second day of the Sri Lanka Economic Summit 2013 with University of Sri Jayawardenapura Senior Professor, Ajit Abeysekera voicing support for tertiary education curricula.

Laksala to open landmark store in Colombo Museum premise

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With the objective of popularizing and promoting the Sri Lankan handy-crafts industry both locally and...

Renminbi fund looking at Lankan private and listed equity

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A renminby denominated Chinese fund which has access to onshore Chinese credit market has explored opportunities in investing in private and listed equity in Sri Lanka

IMF cautions govt of changing debt dynamics

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The International Monetary Fund (IMF) yesterday cautioned the government of the changing debt dynamics, which could have unfavourable repercussions in the years to come and called for immediate fiscal adjustments.

Mechanism set up to remedy issues faced by EU investments

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The European Chamber of Commerce of Sri Lanka (ECCSL) recently launched the European Union-Sri Lanka (EUSL) Investor Dialogue, to identify barriers and constraints faced by the European investors in Sri Lanka and find solutions to these issues.

JKH officially announces US $ 650 integrated resort project

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Premier blue chip John Keells Holdings (JKH) yesterday announced the much hyped Glennie Street project to the Colombo Stock Exchange (CSE) officially, of which the company kept mum even in its latest annual report.

Defining luxury in the hospitality industry

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The blurb appearing in a hotel advertisement that said, “Please cast your valuable vote for the Kxxxxxxxx Hotel in the 2013 World Luxury Hotels Awards...” caught my eye and immediately had me thinking.

Will Asia’s largest FTA make a difference?

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The first round of negotiations to establish the Asian Regional Comprehensive Economic Partnership (RCEP) -- a free trade agreement (FTA) across ASEAN+6 (the 10 ASEAN members plus Australia, China, Japan, South Korea, India and New Zealand) -- was held in Brunei in May. The RCEP idea was first proposed by Indonesia during its chairmanship in 2011.

Reviving agriculture: The case for a fundamental rethink

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The 35 years since liberalization of the economy has seen repeated cycles of the economy overheating once growth exceeds 6 percent. Growth of 8 percent or more is necessary over a sustained period to achieve economic transformation similar to that achieved by a number of countries in East and South East Asia.

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Japanese coastguards cleaning Mt. beach
Eid Mubarak!