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Stable Mode
The Central Bank on Tuesday opted not to cut its key benchmark interest rates, buoyed by strong economic recovery and an influx of foreign investments.In May, the bank lowered the overnight repurchase rate or repo rate by 75 basis points to 7.5 percent, while the reverse repurchase rate or reverse repo was reduced by 75 […]
Next Step
Pramuka Depositors warned of possible legal action for damages against Central Bank, KPMG Ford Rhodes & Thornton and the bank management, if authorities proceed with the liquidation of the bank as the deadline for expressions draws close.ldblquote We will sue Central Bank who did not take action for three years and the auditors who endorsed […]
Aid +
The Asian Development Bank, on Tuesday finalised plans to raise its lending assistance to Sri Lanka to US$ 700 million over the next three years. The extended assistance is part of the Country Strategy and Program (CSP) for 2004-2008, approved by ADBs Board of Directors.rn rnThe proposed lending level represents a $100 million increase over […]
Live Trades
Becoming the first in the South Asian region, Sri Lanka quote s inter-bank payment and settlement system went live on Monday, with Rs. 119 bn worth transactions settled at the close of trading.Now generally accepted as international best practice to settle urgent and high value inter-bank payments, the Rs. 900 mn Real Time Gross Settlement […]
Small Wonder
But, Hasitha Premaratne, HNBs Research Manager says, the lack of liquidity and a low free float market capitalisation, is holding Hemas back from rubbing shoulders with other top conglomerates like the John Keells Holdings Group.rn rnClick here for full research report:rnAptly describing the Hemas Group as a lquote small wonder, HNB Stockbrokers talks about the […]
Shining Star
Following the legacy of the famous De Beers diamonds and Tahitian pearls, is a test bed range of branded lquote Sriya Ceylon sapphires, as Sri Lanka stakes its claim in world gem markets. Developed by a British designer and collectively sponsored by industry, this is Sri Lankas first attempt to brand its high quality and […]
Hidden Gems
Following BCGs recommendations, JKH is building a new property development unit to push up returns from its extensive real estate holdings.rn rnWith a free float adjusted market capitalisation of US$ 157.9 mn after its recent bonus issue, JKH now qualifies to climb aboard the Morgan Stanley Capital Indexs Emerging Markets Index, says Hasitha Premaratne, Research […]
Work Out
A new army is being raised to fight a war off the battle field. Soldiers on hire, ready to fight for any side.Building on the limitation of Sri Lankas archaic labour laws and the cyclical needs of Information Communication Technology firms, an offshoot of Media Solutions – TechSys has built a database of over 1600 […]
Rubbing The Right Side
Sri Lanka used to be the fifth largest rubber supplier to the world a few years ago. But synthetic rubber manufacturers took over the market as age-old production processes left natural rubber producers helpless. But now the industry is changing face.A locally manufactured industrial rubber has got oversea buyers ready to bargain.rn rnLankaprene rubber is […]
Lankas Dilemma
Top trade delegations from around the world will meet in the Mexican city of Cancun, at a meeting billed by many to be one that can drastically change world trade patterns.But developed and developing countries will have to agree on a large variety of issues from opening up their agricultural sectors to protecting intellectual property […]