All Blogs
Oiling The Palm
Government has subsidized fuel by almost Rs.6 billion in the first 7 months of this year with the highest subsidy coming in July of Rs.1.2 billion. Government has subsidized fuel by almost Rs. 6 billion in the first 7 months of this year with the highest subsidy coming in July of Rs. 1.2 billion. Continuing […]
Copper Fields
Processing copper scrap for export to India is big business here in Sri Lanka. Processing copper scrap for export to India is big business here in Sri Lanka. Half a dozen companies, with Indian investment, import copper scrap, melts them and reshapes them in to bars for re-export to India where it’s used as raw […]
Oven Fresh
Ceylon Biscuits will expand into a bakery line in a month, even as it makes inroads with Munchee into India, dusts off old plans to go public and seriously considers real estate.Ceylon Biscuits will expand into a bakery line in a month, even as it makes inroads with Munchee into India, dusts off old plans […]
VIP Trouble
Central Bank officials say they will prosecute directors of the failed Pramuka Savings and Development Bank (PSDB) which is being liquidated by the regulator.Central Bank officials say they will prosecute directors of the failed Pramuka Savings and Development Bank (PSDB) which is being liquidated by the regulator. The Attorney Generals department is currently examining provisions […]
Blowing in the Wind
The Ceylon Electricity Board (CEB) wants to build its own wind power plant after efforts to attract a private investor failed.The Ceylon Electricity Board (CEB) wants to build its own wind power plant after efforts to attract a private investor failed. The utility is planning a 30 MW wind plant in Kalpitiya in the Puttalam […]
Dressing Up
The Public Enterprise Reform Commission says it is working on 30 state firms which will be restructured in the coming months.rnrn Among the rnhitlist are institutions like Shell Gas, Elkaduwa Plantations and Lanka Salt, rnwhich were previously earmarked for privatisation, PERC said in its website.rn However, Sri rnLanka Telecom is a notable absentee.rn Among the […]
Maxed Out
Ceypetco unions suspended their lightening strike late Saturday following a Presidential assurance that petroleum assets will not be privatised before getting Cabinet approval. Minister K D Lal Kantha, who also heads the JVP’s Inter Company Union said that Finance Minister Dr.Sarath Amunugama had conveyed President Chandrika Kumaratunga’s assurance that the asset sale will not go […]
Perfect Storm
Sri Lankan government upped prices for petrol and diesel on midnight Friday, as hundreds of motorist queued to top up following an islandwide strike by Ceypetco’s 5,000 strong workforce.Sri Lankan government upped prices for petrol and diesel on midnight Friday, as hundreds of motorist queued to top up following an islandwide strike by Ceypetco’s 5,000 […]
Central Bank warns price adjustments are inevitable to keep budget on track
The Central Bank opted not to tinker with its short-term rates, but warned that holding back fuel price adjustments makes it difficult to balance the budget on an even keel. The Central Bank opted not to tinker with its short-term rates, but warned that holding back fuel price adjustments makes it difficult to balance the […]
JKH puts all its hotels under on company, Keells Hotels Ltd
Conglomerate John Keells Holdings has put all its hotels under one unit – Keells Hotels Ltd – which will be listed on the Colombo Stock Exchange Conglomerate John Keells Holdings has put all its hotels under one unit – Keells Hotels Ltd – which will be listed on the Colombo Stock Exchange A 100 percent […]