All Blogs
Hilton – For Sale
The Treasury on Wednesday confirmed it would sell its 64% stake in Hilton Colombo. The holding company of Hilton Colombo, Hotel Developers (Lanka) Limiteds Chairman Ajith Dias told shareholders that the the Treasury will dispose its holding as part of its economic reforms programme.rn rnAnalysts say the state will look for a strategic buyer to […]
Mobile Edge
Mobitel unveiled its ambitious plans and its new logo that will battle the elements to capture over one million customers before 2005. Mobitel Chairman Thilanga Sumathipala told guests at the launch ceremony that internal estimates showed that the cellular market would reach three million customers within the next three years, with his firm servicing over […]
Rating Call
The Central Bank plans to hire Fitch Ratings International to give a sovereign rating for the countrys debt. A sovereign rating serves as an indication of a countrys ability to repay its debt and is a key requirement to raise money from the international capital markets.rn rnThe bank is in the process of securing the […]
Canal Tours
The immediate land surrounding Colombos canal ways could get a facelift along with a proposed transport project. A team sponsored by Canadian authorities recently concluded an initial feasibility study on Colombos canal system.rn rnThe team is now back in Canada to draw up financial proposals before work on detailed plans and funding arrangements can start. […]
Large Hands
HSBC says its Sri Lankan operation has successfully raised funds for the government this year, including a US$ 33 mn long-term loan to develop the Northern peninsular.The bank also recently acted as the single largest lender under a syndicated US$ 100 mn loan the government borrowed recently.rn rnStructured by Citibank N.A., the five-year loan was […]
Knock Knock
The Ceylon Hotels Corp. (CHC) is knocking on the Treasurys door for a Rs.59 mn loan to upgrade its properties.Part of the funds will also be utilised to pay off a Rs.19 mn early retirement package the corporation offered earlier this year to send home 51 employees, CHC Chairman, Bodhi Liyanage said.rn rnCHC, a government […]
Spot Hopping
For many like Peter Berkley, a lquote visiting consultant on assignment to Sri Lanka, access to the internet meant hooking up his laptop with a phone chord to a wall socket in his hotel room or a business centre around his comfort zone. He recalls a typical day back home in the US, when he […]
Product Dev
SAP, a leading business software solutions provider is stepping up its presence locally to face, what company officials say is an upcoming leap in demand for IT aided management solutions. The firms primary market focus in Sri Lanka will cover the banking, utilities, telecom and the state sectors.rn rnThe solution provider is already in Sri […]
Bateys Magic
Batey, a top regional public relations company, is to take over the state tourism promotion agency early next year. The company singled out by the Prime Minister is waiting for the fine print in their contract to be sorted out according to officials.rn rnBatey, the creator of lquote the Singapore girl for Singapore Airlines and […]
Open Sesame
Want to avoid being hit by the next big virus thats going to hit a PC near you?rnSwitch to open source.rnSoftware like the Linux operating system is usually never the target of computer viruses. Hackers mostly hit at computers with Microsoft operating systems.rnOpen source software developed by groups of tech enthusiasts in their spare time […]