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Pioneering mobile operator Celltel Lanka Ltd picked up a US$ 20 mn cheque from a syndication of banks to deploy its network islandwide.Pioneering mobile operator Celltel Lanka Ltd picked up a US$ 20 mn cheque from a syndication of banks to deploy its network islandwide. Led and co-arranged by Hatton National Bank, the five year […]
Norway relieves Sri Lanka’s debt burden with a million dollar grant to partially repay loans owed to the World Bank
Sri Lanka has tapped Norwegian government’s generosity for a US$ 1.13 mn grant to settle part of its debts owed to the World Bank. Sri Lanka has tapped Norwegian government’s generosity for a US$ 1.13 mn grant to settle part of its debts owed to the World Bank. The grant has been provided to a […]
Govt. ramining stakes in NDB, Lanka Cement and Ceylon Shipping Agencies up for sale
The Government’s privatization arm has added a fresh set of minority stakes including parcels in NDB, Lanka Cement and Ceylon Shipping Agencies, to its list of passive investments for sale.The list included stakes in Galadari Hotels, Commercial Bank, Ceylon Agro Industries and shares in the plantation sector. Shareholding in quoted companies in the list, at […]
Sideslip
Sri Lanka’s aviation authorities have identified a new location for the second international airport for the island. Sri Lanka’s aviation authorities have identified a new location for the second international airport for the island. The 800-acre plot is located in Habaraduwa in the Galle District, near an existing airstrip in Koggala. “The next step will […]
Giant Strides
The Finance Ministry is speeding ahead with plans to set up an SME Bank early next year, with the paper work now before the Company’s Registrar.The Finance Ministry is speeding ahead with plans to set up an SME Bank early next year, with the paper work now before the Company’s Registrar. Mooted by the government […]
Sri Lanka picks up US$ 80 mn to develop North and East
Sri Lanka picked up US$ 80 mn from the Asian Development Bank (ADB) as part of a second tranche to develop rehabilitation needs of nearly two million people affected in the North and East.Sri Lanka picked up US$ 80 mn from the Asian Development Bank (ADB) as part of a second tranche to develop rehabilitation […]
Aid Drip
The International Finance Corp.(IFC) is spearheading a US$ 10 mn technical assistant project to uplift Sri Lanka’s small and medium sector.The International Finance Corp. (IFC) is spearheading a US$ 10 mn technical assistant project to uplift Sri Lanka’s small and medium sector. The Washington based IFC has chipped in US$ 2 mn to start off […]
Clean Bin
The Urban Development Authority (UDA) says some 50 acres of water front property in Colombo will be released for commercial use by 2006 under the second phase of the Beira Lake restoration project.The Urban Development Authority (UDA) says some 50 acres of water front property in Colombo will be released for commercial use by 2006 […]
Sri Lanka in new statute crisis over jailing of MP
Sri Lanka was plunged Wednesday into a constitutional crisis over the jailing of a key opposition MP, prompting calls for parliament to assert its power over the judiciary.Sri Lanka was plunged Wednesday into a constitutional crisis over the jailing of a key opposition MP, prompting calls for parliament to assert its power over the judiciary. […]
Sri Lanka is counting on its migrant workers to remit extra funds for the festive season together with dollar inflows to ease its cash crunch this Christmas
Sri Lanka is counting on its migrant workers to remit extra funds for the festive season together with dollar inflows to ease its cash crunch this Christmas.Sri Lanka is counting on its migrant workers to remit extra funds for the festive season together with dollar inflows to ease its cash crunch this Christmas. The island […]