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Foggy Policies
Slow port development is the threat to the local economy, not Sethusamudram, say local ship agents.Slow port development is the threat to the local economy, not Sethusamudram, say local ship agents. “Sethusamudram is not a threat to the Colombo port, if the Colombo South port, behind SAGT, is ready by 2009,” said Chairman of the […]
Re-dial
Dialog on Tuesday tapped HSBC for a Rs. 2.46 bn five year loan to pay back its Malaysian parent. Dialog on Tuesday tapped HSBC for a Rs. 2.46 bn five year loan to pay back its Malaysian parent. The loan carries a SLIBOR +1.4 percent interest payable over the five year period in equal semi […]
Tighten Belts
Asia will feel the weight of economic adjustments in China and the US, warns Asian banking giant HSBC.Asia will feel the weight of economic adjustments in China and the US, warns Asian banking giant HSBC. Addressing the local business community in Sri Lanka, HSBC’s chief economist for the Asia Pacific region, Arup Raha said monetary […]
Laughing Gas
Laugfs Gas will cut Rs. 101 off its 12.5 kg retail cylinder price, after the Govt., last week removed the 15% VAT Value Added Tax) on Liquid Petroleum Gas (LPG).Laugfs Gas will cut Rs. 101 off its 12.5 kg retail cylinder price, after the Govt., last week removed the 15% VAT Value Added Tax) on […]
Lease Tease
Leasing companies and mortgage banks are raising more money through debt issues to take advantage of higher demand for credit and to cap their own interest rates. Leasing companies and mortgage banks are raising more money through debt issues to take advantage of higher demand for credit and to cap their own interest rates. However […]
Sri Lankan rupee heads down faster than expected
Sri Lanka’s exchange rate has started to depreciate faster despite the Central Bank using its reserves to defend the currency.Sri Lanka’s exchange rate has started to depreciate faster despite the Central Bank using its reserves to defend the currency. From November 2003 the Sri Lanka rupee fell rapidly as government fiscal discipline slipped and dollar […]
New roof for quoted corporate bond market
Sri Lanka’s slow moving quoted corporate bond market is hoping for better times, after hopping over to the specialised debt exchange system (DEX) last week. Sri Lanka’s slow moving quoted corporate bond market is hoping for better times, after hopping over to the specialised debt exchange system (DEX) last week. Owned by the Colombo Stock […]
Quick Fire
Prudential Assurance Ltd, is hoping its inhouse expertise to structure financial packages, will help gain a toe into Sri Lanka’s competitive insurance market.Prudential Assurance Ltd, is hoping its inhouse expertise to structure financial packages, will help gain a toe into Sri Lanka’s competitive insurance market. Prudential – no connection to the international insurance giant – […]
UN says tsunami victims not properly consulted for reconstruction
Seven months after the tsunami, the UN says tsunami victims in Sri Lanka have not been properly consulted in tsunami reconstruction.Seven months after the tsunami, the UN says tsunami victims in Sri Lanka have not been properly consulted in tsunami reconstruction. “Since the tsunami last year, a greater part of post-tsunami relief, reconstruction and rehabilitation […]
Sri Lanka faces Rs. 10 bn revenue shortfall due to recent populist tax cuts
Over one and quarter billion rupees is likely to be lost due to government’s recent Value Added Tax (VAT) exemptions on milk-powder and LP Gas. Over one and quarter billion rupees is likely to be lost due to government’s recent Value Added Tax (VAT) exemptions on milk-powder and LP Gas. A top Treasury source says […]