However, the expected relief has not reached the customer while the importation of canned fish has increased to 40,000MT in 2015 involving Rs 10 billion foreign exchange. Hence, the Cabinet approval has been granted for the proposal submitted by the Minister of Fisheries and Aquatic Resources Development Mahinda Amaraweera to grant special tax concessions for importation of Mackerel only to local canned fish producers and also to give the concession for imported can fish only for fish cans that comply with the given standards. (Colombo Gazette) In 2013 taxes on imported canned fish were increased to Rs. 100 per kilogram to encourage the local production and it was reduced to Rs. 50 for providing concessions to the customers in 2015. Accordingly, a 425g fish can should include 280g of fish excluding liquid and be sold at a maximum price of Rs. 140, and a 155g can of fish should include 105g of fish excluding liquid and be sold at a maximum price of Rs. 70. The Government has decided to impose a Rs 100 levy on one kilogram imported canned fish, Cabinet spokesman Rajitha Senaratne said today.About 20,000MT of canned fish are imported annually for the domestic need. As a result of encouraging the local production of canned fish to save foreign exchange of Rs. 5 billion, since 2012 four local factories are engaged in canned fish productions. These factories have produced about 150 direct employment opportunities. read more

Eurasia CEO predicts oil barrel price to slowly get back to mid-$60s by News Staff Posted Feb 4, 2015 5:13 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email A leading expert on oil prices is predicting the price of a barrel of oil will go back up to the mid-$60s by the end of the year, which may not be great for Alberta, but it is sustainable.Robert Johnston is the CEO of Eurasia Group and told a Calgary Chamber of Commerce audience Tuesday the price ultimately depends on what the Saudis do with regards to a price point.He thinks the current price simply isn’t sustainable for their budget and it will go up slowly to the $65 range.As for what it means for Alberta businesses, he said it’s manageable.“It’s not easy, but it’s not a disaster either,” Johnston said. “I think at $65 the best projects with the most efficient returns will do okay, it will be challenging for the government, there’s some spending that was built up in the previous cycle that will be challenging to deal with, but I think we’ll come through okay if we can be efficient in this cycle.”He said though we can expect more industry layoffs in the coming year.“Unfortunately, I think 2015 it’ll probably get a little worse before it gets better, but I think by 2016, probably one more round of cuts, then we look at that mid-60s price next year, maybe things get a little bit better,” he said.He also thinks Alberta should keep an eye on what’s going on internationally.“I think honestly the message is to look globally, we’ve been so focused on investments in North America that there are some good opportunities around the world,” he said. “What are the Saudis going to do, what’s going to happen in China because that could actually drive the recovery here.” read more