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Flight Schedule
Sri Lanka will soon have to amend its bilateral Air Service Agreements with European countries, as the EU lobbies for a ‘common clause’. Sri Lanka will soon have to amend its bilateral Air Service Agreements with European countries, as the EU lobbies for a ‘common clause’. The clause will allow any European carrier to use […]
Makeover Magic
Customs, Excise and Inland Revenue departments are going on an intensive fitness regime next year to beef up tax collection.Customs, Excise and Inland Revenue departments are going on an intensive fitness regime next year to beef up tax collection. “We will strengthen the revenue collection bodies starting with the Inland Revenue and subsequently Customs and […]
Oiling the Market
For the first time in history the market capitalization of the Colombo Stock Exchange (CSE) went over Rs 400 bn on Wednesday. For the first time in history the market capitalization of the Colombo Stock Exchange (CSE) went over Rs 400 bn on Wednesday. The market moved up by Rs 24.5 bn, or 6.5 percent, […]
Well Oiled
Shares of Lanka IOC(LIOC) closed at Rs 47 after opening at a high of Rs 54 in the morning.Shares of Lanka IOC(LIOC) closed at Rs 47 after opening at a high of Rs 54 in the morning. The shares were issued at Rs 27, giving massive capital gains to subscribers of the LIOC IPO. Meanwhile, […]
Chatting Away – Wrapping Up
Cellular operator Dialog GSM made history when it signed up its 1 mn customer in June, to become the first operator to cross the milestone. Cellular operator Dialog GSM made history when it signed up its 1 mn customer in June, to become the first operator to cross the milestone. The US$ 150 mn operator […]
Loanly Treasury – Wrapping Up
The Treasury is planning to issue a fresh US$ 100 mn of commercial bonds next year while giving up on cheaper program loans from lenders.The Treasury is planning to issue a fresh US$ 100 mn of commercial bonds next year while giving up on cheaper program loans from lenders. The government has already issued US$ […]
Big Brother
Sri Lankan authorities are tightening scrutiny on export inflows as the country battles an exchange crisis brought about by falling capital flows and rising imports.Sri Lankan authorities are tightening scrutiny on export inflows as the country battles an exchange crisis brought about by falling capital flows and rising imports. The Department of Exchange Control, an […]
Chequing Out
Moving in with the paperless world, Sri Lanka will introduce a computer images based cheque clearances system to speed up transactions, by August 2005. “We are hoping to get the image based clearance system fully operational by August 2005,” said Justin Wickramasinghe, CEO of Sri Lanka’s cheque clearing house LankaClear (Pvt) Ltd, on Tuesday. The […]
Satellite Operations
Sampath Bank is infusing over Rs.75 mn to float a specialised leasing unit, to capitalise on the growing trend for operating leases.Sampath Bank is infusing over Rs. 75 mn to float a specialised leasing unit, to capitalise on the growing trend for operating leases. The yet-to-be-named company will start operations early next year, with Sampath […]
Indian arrivals to push tourism in 2005?
Tourist arrivals are expected to grow by 20 percent next year fuelled by Indian arrivals and a change of marketing strategy.Tourist arrivals are expected to grow by 20 percent next year fuelled by Indian arrivals and a change of marketing strategy. In November this year India displaced UK as Sri Lanka’s chief tourist market because […]