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Rooms Available
Around 60 State owned rest houses, previously managed by the Urban Development Authority and other government agencies, are scheduled for a change of management under a cluster-lease concept.These rest houses that are scattered all over the country will be parcelled into clusters of three or four and leased out for a 30 year period to […]
Value Driven
Value added tea exports hit a five year high, moving up to 41 percent of total shipments so far this year. The record is on account of 17.1 mn kgs of tea shipped to Libiya, a 211 percent increase in volume over 2002. Exports to the Middle East state was primarily in tea packets.With total […]
Private Garage
State owned Lakdiva Engineering Ltd. endash repair and re-conditioning arm for state buses, is to be put up for private investment, as part of the re-haul of the Central Transport Board. Lakdiva Engineering is entirely state owned, and currently operates a factory that repairs and re-conditions bus bodies belonging to the state owned Bus Companies. […]
Coastal Trip
The Asian Development Bank has come forward with a US$ 20 mn loan to uplift the living standards of people in the Eastern Province.The loan, for the North East Coastal Community Development Project, will help conflict-affected coastal communities in the three eastern districts – Trincomalee, Batticaloa, and Ampara – improve livelihoods on a sustainable basis […]
Oh SHIT!
Brace yourself for some absurd bit of news ’85The Municipal Council is sitting on the idea of charging tax each time you visit the loos! The CMC says it flushes down Rs. 250 mn annually to maintain the system.Colombo city is trying to clean up its act for the umpteenth time endash this time through […]
Missing Links
Sri Lanka needs an estimated US$ 150 mn over the next four years to re-haul a dilapidated bridge network, many over 50 to 100 years old.rnrn The Road Development Authority is negotiating soft loans from Japan and the Saudi Fund to upgrade 15 bridges identified on priority basis.rn rnldblquote We have identified a list of […]
Short Break
Resort and spa operator Banyan Tree says it is temporarily putting on hold its investment plans for Sri Lanka because of the countrys political crisisIt had been intending to spend a large chunk of the proceeds from its stock market listing next year in Sri Lanka, Singapores Channel News Asia reported late Tuesday.rn rnBanyan Tree […]
Population Pills
Sales of the morning-after pill are soaring at 30,000 packs a month, as lquote Postinor takes over from males reluctant to snap on that condom.rn Only 3.3 percent of males use condoms, with birth control largely geared toward females – an imbalance the Family Planning Association is trying to alterrn rnldblquote Males still think family […]
Tele Bond
Sri Lanka Telecom hopes to tap the overseas market to raise up to US$ 100 mn via bonds for its expansion plans next year.The issue, which is likely to come out next March or April, will be the first overseas debt paper to be offered by any Sri Lankan firm.rn rnldblquote The size of the […]
Its A Wrap
Upcoming debt market specialist, National Wealth Corp. wrapped up a complex debt-restructuring deal for the governments supermarket chain.rnrnrnrnrnrnNew Page 1rnrnrnrnrn Arnconsortium of six commercial banks endash Bank of Ceylon, Peoples Bank,rnCommercial Bank, HSBC, Hatton National Bank and Seylan Bank endash inked the dealrnon Monday, in what NatWealth claims is the largest debt restructuring deal inrnSri […]