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Safety First
This year 78 companies are taking part in the National Safety Awards. Not all of them win awards. But organizers say by merely taking part these companies create a safer working place for their employees.rn rnAuditors from the National Safety Awards have already started grilling short listed applicants.rn rnCeylon Cold Stores is one of the […]
Health Check
The insurance regulator is studying the possibility of setting up a National Health Insurance scheme that could cover the islands entire population.The Insurance Board of Sri Lanka (IBSL) is in the process of studying the possibilities of setting up such a nationwide insurance scheme.rn rnThe government through budget allocations, funds most of the countrys health […]
Money Money
Central Bank has started issuing Central Bank securities to check reserve money growth, as its own supplies of treasury bills dwindle away.ldblquote We started issuing Central Bank Securities this week, dblquote says Deputy Governor W A Wijewardene.rn rnThe Bank issued about Rs. 2.5 bn worth of Central Bank (CB) securities mainly to EPF endash the […]
Nexi Monday
The US$ 100 mn loan to the government arranged through Citibank NA, will come into the Treasury quote s coffers next Monday.The treasury is expected to retire Rs. 7 bn worth of bills next week with the money, says Central Bank quote s Deputy Governor, W A Wijewardene.rn rnBacked by the Nippon Export Investment Insurance […]
Black Mark.
Naming these institutions is part of the banks efforts to warn depositors not to part with their funds in un-regulated institutions.rn rnEarlier in 2003 the Central Bank for the first time in history, named 27 companies for mobilising public funds without regulatory approval.rn rnHowever, the latest warning follows an examination of the Jana-Shri Financial Corp., […]
Spruced Up
The governments privatisation arm is streamlining its internal processes and plans to list more state corporations on the Colombo bourse to spur capital market development.A quotation on the Colombo Stock Exchange infuses financial discipline, corporate governance and adds value to the transaction, says Manjula de Silva, Director General of the Public Enterprise Reform Commission.rn rn”It […]
Road Works
The Road Development Authority has commissioned a Korean Company to carry out a feasibility study to rehabilitate the Puttalam-Trincomalee (A12) Road. The study will be carried out at a cost of US$ 1.2 mn, with the funds coming through a grant from the Korean government. rn rnWork will begin in November this year and go […]
Looking Healthy
Fitch Ratings Lanka re-confirmed its SLAA+ national rating on John Keells Holdings Ltd. senior debt following the conglomerates recent acquisition spree.SL AA+ rating denotes a very low expectation of credit risk. It indicates very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.rn rnAfter picking up a […]
Wider Net
The governments privatisation arm is throwing its doors open to the local investment banking community to help them out as financial advisors for upcoming privatisation issues.The Public Enterprise Reform Committee (PERC) says the move, will pave the way for merchant banks, investment arms of foreign banks and certain foreign consultants to take a look at […]
Tight Fist
The provision, generally known as Section (t) exempted trading profits from dealing treasury securities.rn rnThough trading profits is actually the small spread between buy and sell quotes, some tax experts have argued that it applied to all interest income from treasuries.rn rnThe government is expected to take away this ambiguity and apply the effect retrospectively.rn […]