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Left Over
The Treasury is selling its residual stakes in 19 firms, 14 of them through the Colombo Stock Exchange. At current trading prices, the stakes in 13 of the 14 listed firms are worth Rs.194.6 million.rn rnThe larger parcels of the listed shares and the five unquoted firms will be sold on an all or nothing […]
Mine Ahead
The United Nations Development Program said Thursday, that they will strengthen ongoing de-mining efforts in the North, with a technical assistance grant of US$ 3.2 mn. Since a ceasefire 19 months ago, there has been humanitarian mine assistance to remove some 1.5 mn landmines still lying buried in private and fertile agricultural lands in the […]
Non-elastic
Lack of funding could kill the rubber industrys research arm warns the Rubber Research Institute. RRI officials estimate that over Rs.23 million is urgently needed to upgrade the age old equipment and to improve other sections at the Institute. rn rnOfficials say without the new equipment, the RRI is unable to develop new research to […]
External Cleansing
The government has sought the Asian Development Bank and World Bank help, to do an impact assessment on the ongoing Samurdhi programme.Donor agencies have been critical of the selection process of welfare beneficiaries, as well as the lack of an exit mechanism, which resulted in more and more householders being added, until half the country […]
Rallying Support
The Ceylon Chamber will mobilise private sector support for the states “Regaining Sri Lanka” initiative though its annual convention, which hopes to take the theme to its next level.The Chamber says local businesses are being risk averse and holding back on their capabilities until a permanent peace was established.rn rnOrganisers say to encourage the private […]
Coming Clean
Seylan Merchant Bank Limited (SMB) has reported satisfactory growth in its financial results for the first half of 2003.In results released this week, SMB reported a consolidated pre-tax profit of Rs 16.7 million, a growth of 148 per cent over the Rs 6.7 million profits reported in the corresponding period of 2002.rn rnSMB also reported […]
Card Games
Fast emerging as a serious player in the local banking segment, Nations Trust Bank on Tuesday launched its own credit card, to add muscle to its growing personal banking business.Nations Trust Bank (NTB) entered into an exclusive agreement with the American Express Bank to re-launch the American Express Card (AMEX) in Sri Lankan rupees. AMEX […]
Firewall
Regional Heads of WIPO (World Intellectual Property Organisation) are attending a two day workshop starting Tuesday to draw an outline for the Organisations future activities in the Asian region. Twenty five regional countries are represented, and will allow for the delegates to identify emerging issues and problem areas along with possible remedies for them.rn rnThe […]
War Spoils
The government is rolling out a series of rural road development and electrification projects as it starts spending the lquote peace dividends, of a 19-month ceasefire.rnrn rnAn accelerated development programme is being rolled out at a cost of Rs. 17.4 bn over an 18-month period to take roads and electricity to parts of rural Sri […]
Spring Cleaning
The Commercial Bank of Ceylon Ltd., reported a group pre-tax profit of Rs. 936.9 million for the first half of 2003, an increase of Rs 101.6 million or 12.15 per cent over the corresponding period last year.The Bank said this pre-tax profit was arrived at after making a loan loss provision of Rs. 302.2 million, […]