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Slight Tremor
Treasury bill rates perked up at this weeks auction, ahead of the Central Banks monthly Monetary Policy meeting on Thursday.Three month paper rose two basis points to 7.79 percent, while six and 12 month paper remained flat at 7.76 percent and 7.71 percent, the Central Bank said Wednesday.rn rnThe bank offered and accepted bids for […]
Small Change
Putting its money where the community level work is, the World Bank today doled out Rs. 4 mn to enhance the work of eight non-governmental organisations (NGOs). The small grants programme deviates from the usual funding style of the World Bank, usually associated with mid sized to massive community projects rolled out by State representative […]
Baby Boomers
Perfume isnt all smell. Men and women who splash it on no less than baby cologne, are driving growth and pushing retail sales in the mass market for fragrances.Baby is big business, and dual use is common in a relatively low-end market driven by price, sheer convenience and the perception of perfume as a lquote […]
Checkpoint
Relations between the police and the public are in the dumps. In fact Sri Lankans see the police as the most corrupt public institution in the country. Now Norway is spending millions to find out what went wrong with public-police relations.A 2001 public perception survey by Transparency International Sri Lanka (TISL) showed that the police […]
Sweet Music
Cabinet spokesman, Reginald Cooray says the sweeteners are aimed at those who have put in a minimum five-years of service.rn rnCooray said those who put in between five and twelve years of service will get Rs. 250 allowance each month, irrespective of rank.Military servicemen who have between 12-22 years of service will get Rs.500 per […]
Leg Up
Travel Agencies in Sri Lanka can now book travel on Jetstar Airways, Australias new low-cost domestic carrier, following an agreement between the airline and Galileo International, a leading global distribution services company and subsidiary of Cendant Corporation. Under the agreement, Galileo is providing a simplified level of GDS distribution to Jetstar to complement the carriers […]
Making Up
Commercial banks returning from a long holiday week soaked up the excess cash in the banking system, pushing up inter-bank interest rates. The inter-bank borrowing rate rose to the 7.75 per cent level, from 7.50 per cent on Monday and a flat 7.40 per cent throughout the previous week. rn rnMoney market analysts say heavy […]
Disclosure
Sri Lanka was rated 3.5 on ten by top rating agency Dun & Bradstreet for willingness of its companies to disclose information. Amidst state politics and a tradition of privately held family businesses, South Asia is easily one of the most difficult regions in the world to collect information. rn rnSri Lanka is no exception, […]
Face To Face
Norways foreign minister met with the top Tamil Tigerrnleader Tuesday in efforts to revive peace talks between the Sri Lankanrngovernment and the guerrillas that stalled a year ago.rnThe meeting between Jan Petersen and Tiger chief Velupillai Prabhakaranrnin northern rebel-held Kilinochchi came amid concerns that a recent spate of killings may jeopardize Sri Lankas fragile cease-fire […]
Building Up
Sri Lankas foreign reserves took a 2.2 percent dip in February, slightly above a 5.7 percent drop in January 2004, according to latest data released by the Central Bank.rnrn Officialrnor Central Bank reserves slipped to US$ 2,277.5 mn, while total reserves, whichrnalso includes private holdings, rose 4.9 percent to US$ 3,374.2 mn.rn SrirnLanka has to […]