All Blogs
Washed Out
The rupee closed up at Rs. 94.55 against the US dollar on Friday, as exporters asked the government to step in and support falling prices.So far, the rupee has appreciated by about three percent since Sept.eroding profit margins and competitiveness of local exports.rn rnThe appreciation of the rupee comes on top of rising utility prices, […]
Tempting Treats
The Colombo Stock Exchange has made an attractive offer to primary dealers, to entice them to make use of the exchanges top of the range debt trading system.To encourage greater participation, the stock exchange is waiving the Rs. 1 mn entry fee and also allowing the primary dealers to join in as separate members, CSE […]
Information Hunt
Peoples Bank restructuring committee has hired consultants PricewaterhouseCoopers to draw up an information memorandum for the bank.The consultants will put together key information, which will form the basis for prospective investors to make their bids for the bank.rn rnThe process will take around six months to complete. rn rnA World Bank funded consultant B D […]
Stricking it Rich
Following industry feedback, Development Lotteries Board (DLB) will launch two more draw based tickets to fill its current lquote off days – Mondays and Wednesdays.rnDLB officials say the two new draw based lotteries is expected to increase ticket sales by one million tickets per day and help bolster revenues to over Rs. 4.5 billion by […]
Engaged Tone
Sri Lanka Telecom on Thursday informed the stock exchange that it had launched a bid to buy up wireless local loop operator Lanka Bell.“SLT has entered into a non-disclosure agreement with Lanka Bell to enable a study to be undertaken of that company,” Sri Lanka Telecom informed the Colombo Stock Exchange.rn rnThe announcement comes after […]
Zipped Up
Zeelabs signed a deal to exclusively market and build upon Temptation Technologies (TT) 3D imaging products. Zeelabs is an integrated technology provider with a range of e-businesses services.rn rnThe portfolio spans from strategy consulting through to branding, interactive designing, technology consulting and integration into customer operations.rn rnThe addition will bolster Zeelabs e-business product portfolio and […]
Tidy Sum
The government has picked up Rs. 262 mn as dividends from SriLankan Airlines, after the national carrier reported a Rs.2.1 bn group profit for the financial year ending March 31, 2003.SriLankan Airlines said Wednesday that it has declared a 10 percent final dividend for the financial year 2002/3.rn rnThis is the third instance the airline […]
Growing Wings
An ambitious three-year expansion drive to upgrade the Bandaranaike Airport into a regional air hub officially got off ground Wednesday. The Airport is being expanded in two phases.The first will be development of existing terminal facilities and phase two will focus on adding another runway to the airport.rn rnThe Japan Bank for International Co-operation (JBIC) […]
One Approach
The Bank of Ceylon is fine-tuning its loan book to boost private sector lending and limit its exposure to state owned entities. Loan growth for the first six months dipped marginally by 0.6 percent to Rs. 134.49 mn. Officials say the appetite for credit has been below political expectations, but within banking norms, considering the […]
Security Check
The Securities and Exchange Commission of Sri Lanka (SEC) will join 170 other international securities commission to combat cross border securities fraud. An announcement on Tuesday said that the SEC had been accepted as a signatory to the International Organisation of Securities Commissions (IOSCO) Multilateral Memorandum of Understanding concerning consultation, cooperation and exchange of information.rn […]