All Blogs
Borrowing Cheap
The Central Bank says it will issue Rs. 2 bn worth of two-year treasury bonds to the debt market, as part of its borrowing programme for March.rnrnOf the Rs. 27.114 bn worth of treasury bills maturing, the bank has opted to re-issue only Rs.20.364 bn worth of paper. The balance Rs. 6.750 bn will be […]
Good Show
The Seylan Merchant Bank (SMB) Groups earnings rose 344 percent to Rs. 50.29 mn over revenues of Rs. 565 mn for the fiscal year ending Dec.31, 2003.In unaudited results released recently, SMB Groups Net Income rose by 22 percent to Rs 668 million from Rs 546 million in the corresponding period in 2002.rn rnMeanwhile, the […]
Hard Sell
Modeled on the likes of top branded resorts like Banyan Tree, Jetwing Hotels is revamping its hotels and spas into three core brands endash Eco, Ayurveda and beach holidays.The group is making a determined shift up-market, in efforts to lure the discerning high spenders with more than just the best package deal.rn rnldblquote In the […]
Muddy Waters
Sri Lankas Buddhist clergy Monday accused President Chandrika Kumaratungas Marxist allies of launching a “smear campaign” against them in the run up to parliamentary elections. The Marxist JVP, or Peoples Liberation Front, which partnered with Kumaratungas Freedom Alliance for the snap April 2 polls, had began clandestinely distributing pamphlets protesting the entry of clergy into […]
Cosy Chat
The Marxist Janatha Vimukthi Peramuna says it will re-negotiate the US$ 567 mn structural loan facility with the IMF, when it comes to power next month.The IMFs concessionary loan package endash the largest ever granted to Sri Lanka last April endash was to be disbursed in equal tranches of US$ 81 mn over a three-year […]
Oh Dear!
Moderate Tamils warned Monday they would declare independence from Sri Lanka unless the government that came to power after snap April elections revived peace talks with Tamil Tigers.The warning came as gunmen shot dead an ethnic Tamil candidate, the first to be killed in the run-up to the polls.rn rnThe Tamil National Alliance, which includes […]
Bow-wow
The red-blue Alliance says the UNF failed to deliver on its promises, its only success was in delivering misery to the People. Alliance members on Monday accused the UNF for letting prices of essential goods rise out of control, especially as the cost of food, fuel, medicines, travel, water and electricity among other commodities shot […]
Woof, Woof
Getting its campaign on the road, on Monday the UNF asked Sri Lankas 12 million voters to decide between clarity and chaos at the April polls.Citing the lack of consensus within the United Peoples Freedom Alliance (UPFA) on peace process fundamentals, the UNF called on voters to decide between the stability of clearly mapped out […]
Phase II
The Asian Development Bank (ADB) on Monday approved US$ 800,000 for a second phase private sector development programme to push through reforms to the financial sector and the states privatisation programme. The monies will be diverted to design of the second phase, which will aim to foster a competitive capital market and nonbank financial sector, […]
Bigger Capacity
Dubai based Emirates Airlines said Monday, that it was adding five new services to Colombo in March, substantially increasing seat and cargo capacity to and from the Indian Ocean island.The new services routed Dubai-Colombo-Male-Dubai commence March 20 and will bring the total number of services operated by the airline to Colombo to 22 a week.rn […]