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Request to Take Off
Local private airline operators based here say they are getting ready to compete with the national carrierrnnext month when a provision in the MOU betweenrnrnSriLankan and the government expires.rnHowever, the regulator, the Civil Aviation Authority has not completed audits on two of the interestedrncompanies who are keen to fly international routes.rn rnExpo Aviation, Lion Air […]
Bouncing Banks
Sri Lankas top banks emerged stronger in a year of exceptional performance in 2003.Helped by what the Central Bank calls a lquote heroic attempt at fiscal discipline by the Treasury, SrirnLankas banks have rebounded strongly from the economic crises that hit the country in the laternnineties.rn rnPredictably Commercial Bank led the pack on several key […]
Battered To Be Better
Last year Sri Lankas six top local banks collectively made Rs. 8.3 billion in profits, up from just Rs.2.9.rnbillion in 2001.rnrnrn Behind part of the profitsrnlay bond profits from a falling interest rate environment.rn The Central Bank was able torncut rates because for the first time in almost a decade the Treasurys fiscalrnpolicy was in […]
In A Spot
Sri Lankans are still keen to keep the peace process intact, though the rising cost of living still troubles the voting public, as the country heads for a snap poll on April 2.The following is an analysis of the findings of the third and final wave of the ORG-MARG SMART opinion poll series, in the […]
Staff Takeover
Local money broking fraternity saw some activity this week with an established firm opting for a joint partner, while another opened shop to expand its financial reach.Bartleet Mecklai & Roy Ltd grabbed headlines this week, when the firm sold a minority interest to a few ex-staff led by Senaka Udugama and David Benedict.rn rnBartleets Chief […]
Flight Freedom
SriLankan Airlines will use its lquote Fifth Freedom aviation rights to carry passengers from Cochin in India to the Maldives, in July. Fifth Freedom rights allow a registered airline of one state to pick up passengers from another country and put them down in a third state.rn rnIn effect, this means that an airline can […]
Crumbling with Age
Old age is catching up with Sri Lanka but taking it slow and easy in comfortable retirement is just not an option available to this islands 19 million people. Sri Lanka needs to post 10 per cent economic growth over the next 15 years to nurse its fast aging population.Sri Lankas lost years of economic […]
Waiting Game
The Banks country director, Peter Harrold, said the relatively peaceful run-up to the April 2 vote had been a blessing, but an outbreak of post-election violence would be a blow to growth prospects.rn rn Sri Lanka had been set to record seven to eight percent growth rate this year, but the uncertainty associated with the […]
Cry For Peace
His conflict with the president may have pushed Sri Lanka into early elections on April, 2, but Prime Minister Ranil Wickremesinghe says he would rather talk peace with Tamil rebels than wage war with the head of state. Wickremesinghe, 55, said in an interview with AFP that he had no intention of impeaching President Chandrika […]
Saving A Dynasty
For Sri Lankas President Chandrika Kumaratunga running the country is like a family business, but she is taking a gamble at next weeks snap election that could decide the destiny of her dynasty. The daughter of two prime ministers, Kumaratunga, who has been president for 10 years, has surprised her closest allies with political manoeuvering […]