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Money Machine
Asiri Medical Services (AMS), contributed almost Rs. 18 mn towards the Asiri Groups top line during its first month of operations and is expected to keep the money rolling in with increasing occupancy.AMS coming into the picture sorted out the hospitals parking problem endash with a seven-story car park endash and is expected to increase […]
Number Crunching
Sri Lankas national accounting body is pumping more money into spreading the gospel of good accounting practices throughout the country.The Institute of Chartered Accountants of Sri Lanka (ICASL), the countrys auditing standard setting body, will spend millions of rupees this year to improve its educational services.rn rnAs it is, the institute caters to a student […]
Political Talk
The UNF claims the JVP faction in the Freedom Alliance has rejected international aid agency assistance and is quoted saying it would also control imports. rnrn rnThe claims came on Friday, as the UNF builds up more ammunition against its key competition in the upcoming April polls – the Freedom Alliance. rn rnUNFs Dr. Karunasena […]
Under Scrutiny
Sri Lanka will join the elite band of 25 countries that have signed a Memorandum Of Understanding with world watchdog for securities markets, IOSCO. The International Organization of Securities Commissions (IOSCO) is the global standard setting body, regulating more than 90 percent of world securities markets.rn rnFollowing an annual conference in 2002, IOSCO drew up […]
Trade-In
Singer Sri Lanka plans to retire some its short-term borrowings with a Rs. 400 mn four-year debenture issue coming out in March.Singer is keen to reduce its interest cost further after cutting down its 2003 average interest rates to 11.6 percent from 14.2 percent previously. rn rnThe issue, structured by First Capital Ltd, will be […]
Fund Raising
Distilleries recent inter-company share transfers are to retire its over Rs. 3 billion debt acquired when buying Sri Lanka Insurance Corp., say stock analysts. For a second day running, Distilleries sold it holdings in Aitken Spence to Sri Lanka Insurance Corp., at a premium of Rs. 15 above the market. rn rnSo far brokers confirm […]
Bateys Music
Making its music, Sri Lanka will have its first annual drum festival in September, showcasing local drummers and from far a-field as Africa and South America.To be held in the hill country capital of Kandy, the three-day festival could also coincide with the Kandy Perahera.rn rnThe lquote Festival of Drums is to be built into […]
Whats Brewing?
Local tea exporters are eying a 4 million to 6 million kilo order from Iraq under the current World Food Programme (WFP) that is supplying the war impoverished Middle East nation since the US led attracts ended last year.Sri Lanka won a sizable 8 million kilos tender under the previous programme, but is still to […]
Nordic Support
Scandinavian truce monitors held talks with Sri Lankas Tamil Tigers as a rift within the rebel leadership threatened to undermine an already fragile ceasefire, officials said. The head of the Norwegian-led Sri Lanka Monitoring Mission (SLMM), Trond Furuhovde had a hastily arranged meet with the political wing leader of Tamil Tigers, S.P. Thamilselvan in the […]
Dont Worry
After rising against the dollar, the rupee lost around 1 percent, as the markets panicked over a snap poll.rn rnldblquote The rise was largely attributed to a lack in investor confidence since the political crisis blew up last Nov., dblquote he said addressing a gathering at the opening of the Colombo Stock Exchanges new debt […]