If the government goes ahead and approves the Maxis offer to buy a 25 percent stake in the NTT stock in Sri Lanka Telecom, it would result in a massive turf battle in the local communications industry between two Malaysian telecom giants.
Despite Central Bank investigations into the GoldQuest operation continuing this week, its main marketer Quest International (QI) was adamant that it will continue investing in the Sri Lankan economy.
Staff and resource shortages at the Inland Revenue Department are delaying VAT refunds to businesses.The Inland Revenue Department says the long delays in VAT refunds to exporters are due to lack of properly trained staff and a mounting backlog of files.
The number of flights to and from Colombo had reduced by 31 flights by last week compared to April, according to the Board of Airline Representatives (BAR). “As of now the number of arrivals and departures per week at BIA is 267 compared to 298 pre 26 April, including cargo flights,” said a BAR statement.
