All Blogs
Aid Ok
The international community will detach part of the US$ 4.5 billion in aid committed to rebuild Sri Lanka from progress with the peace process.Japanese special Envoy, Yasushi Akashi on Sunday said that donors were split over the decision to release aid, with some opting to hold back for a change in the current political impasse.rn […]
Religion and Economics
Economists who measure and comment on growth generally ignore the political and social forces that have a heavy bearing on the economy. A century ago Max Weber, a founder of sociology observed that the ldblquote Protestant work ethic dblquote was what made northern Europe and America rich.rn rnThe Protestant work ethic emphasized thrift and willingness […]
Road Show
The Supreme Court made history this week, rapping the Road Development Authority (RDA) for deviating from its original route for the Southern highway, bypassing laws protecting the environment.rnrnThis was the first time the Sri Lankan law has brought to book a state firm for violation of environmental laws. rn rnThe RDA was taken to courts […]
Alternate Landings
The Board of Investment will call for bids to develop the countrys first alternate airport on a lquote Design Build Turnkey model, in two weeks.A pre-feasibility has been done, but the new developer will be responsible for detailed designs, procurement and building of the airport.rn rnIn building jargon, the owners, in this case the Sri […]
Making Love
Politics came to a head last week with a signing of a key alliance deal between the SLFP and the JVP. But commentators said cohabitation still remained the best available option. The SLFP-JVP alliance was quick to criticize the government but had little to offer in terms of alternative proposals.rn rnThe alliance remains sharply divided […]
See Me
Dialog GSM says it is planning to create competition in international submarine bandwidth. Last Friday the IFC gave US$ 50 million in loan funding to the fast expanding mobile operator.rn Dialogs parent, Malaysia Telecom, a shareholder of the SEA-ME-WE 3 cable, initially invested US$ 140 million and has committed a further US$ 90 million.rn rnIFCs […]
Route Re-Shuffle
SriLankan Airlines will scale back its flights on a once lucrative Middle East run, as it fights for space with other no-frills carriers that have begun to ply the route.Carrying mainly labour traffic, the Middle East is among the Airlines top destinations, since it began flying the route some ten years ago.rn rnThe steady stream […]
Yellow Light
A consortium led by the Asia Capital and Richard Peiris Group were given time till July 22 to infuse cash and resurrect Pramuka Savings & Development Bank.As reported by LBO on Wed. the Monetary Board has decided to allow Pramuka to resume business from July 22, subject to its new investors complying with certain concerns.rn […]
Secure Funds
Asian Finance Ltd has raised Rs. 100 mn by securitising its future cash receivables to fund its working capital.Structured and placed by National Wealth Corp (NatWealth), the issue raises funds by converting Asian Finances lease receivables into liquid and negotiable instruments.rn rnWith its strengths and expertise in the Real Estate Development sphere, the firm has […]
Light Delay
A proposed light rail system for Colombo is going slow as officials now prepare to roll out a pre-feasibility study with Indian assistance. Policy makers are lobbying for Cabinet approval to commission Indias Metro-rail using Rs.50 mn (Indian rupees) under the Indian line of credit.rn rnThe project so far only has a sketch or a […]