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Return Ticket
The new government will continue with plans to put in place a Tourism Development Bill and restructure the Tourist Board on priority basis this year.Mooted last year under UNF rule, the proposed Bill will create a new Tourism Promotional Authority to take over marketing and promotional functions from the Tourist Board.rn rnThe Tourist Board is […]
Foreign Call
The investment bank picked for the job will initiate the book building exercise for the funds rising, while the telco giant obtains State approval for its expansion plans that include using wireless technologies to connect rural areas.rn rnSLT say it has not finalised its borrowing options, but could settle for a bond issue or a […]
Comeback Call
The Norwegian government will send a high level team on Saturday to explore possibilities of reviving the stalled peace process.The delegation will include Deputy Foreign Minister Vidar Helgesen and Special Envoy Erik Solheim, the Norwegian Embassy said Wednesday.rn rnDuring their stay, the team will meet President Chandrika Kumaratunga and S P Thamilselvan the Political Wing […]
Mixed Signals
The Asian Development Bank revised growth targets downwards to 5 percent this year and 5.5 percent in 2005, providing also that politics does not derail economic reform.rnrn A persistent drought, reliance on expensive thermal power and a slowdown in economic and key legislative reforms due to the elections were largely to blame, ADB said in […]
Shooting Stars
The economy, politics and human life itself is in for harder times predict astrologers, as a lunar eclipse, two meteor sightings and a meteor shower coincide. The unique astro combination was last seen in 1911, set off the World War I. This year, it takes place next Monday. Sri Lanka has a front seat view […]
Comrade Minister
Officials in Kumaratungas Freedom Alliance said four members of the Marxist JVP, or Peoples Liberation Front took their oaths while another four were sworn in as deputy ministers. rn rnThe inductions raised to 35 the number of ministers in the cabinet. rn The JVP said they accepted a compromise offered by Kumaratunga to end a […]
Quick Thinking
The Central Bank will raise nine billion rupees worth of shorter maturity bonds next month to ease the current interest rate pressures.The new issues which are re-issued under an existing bond series, mature next March and May, also caters to present market appetite for short-term paper.rn rnThe issue carries a coupon rate of 11.5 percent.rn […]
Water Tight
The US government unveiled its new US$ 50 note on Tuesday designed with enhanced security features to beat counterfeiting.rn rnrn rnThe New US$ 50 billrnrnrn rnThe New US$ 20 billrnUS government officials from the Department of the Treasury, the Federal Reserve and the United States Secret Service, unveiled the new US$ 50 note design, the […]
Avrudu Bash
Commercial Banks ATMs dispensed a staggering Rs. 625 million over the five-day lquote Avurudu weekend in April, the Bank said this week.Commercial Banks Deputy General Manager endash Personal Banking Ravi Dias said nearly 151,000 cash withdrawals were made during this period and due to heavy usage most ATMs had to be reloaded with cash several […]
Big Buy
NDB picked up a further 20 per cent stake in NDB Bank, following up on Fridays 37 per cent acquisition. Mondays buy increases NDBs stake in the commercial banking venture close to 80 per cent.rn rnMarket sources confirmed that the stake moved at Rs. 31 per share, on par with the price paid by NDB […]