All Blogs
Rest In Peace
The government urban planning agency (UDA) is considering the full or part sale of over 40 Rest Houses under its ownership.The urban development authority says it is looking for proven hotel chain managers to take an equity stake and manage the rest houses.rn rnThe agency is keen to attract one or more top hotel chains […]
Home Sweet Home
House ownership is on the rise but experts say the country is far from meeting the demand of 70,000 new units needed annually. Policy makers are however trying to kindle a boom in the sector by clearing legal bottlenecks and making housing more affordable.A housing drive in the late 80s took development and infrastructure to […]
Loan Way To Go
Demand for credit has been on a steady rise this year with the Central Bank saying that growth year-on-year could hit 13% -almost double the last years figure.Bankers who are reporting healthy profits for the half year just ended however say demand could still improve and that the big contributions to the bottomline is still […]
Cut The Cut Throats
Telecom watchdog – the Telecommunication Regulatory Commission (TRC) – is getting advice on identifying and handling dominant players, which is key to effective competition in the industry.Singapore based Spectrum Strategy Consultants have been picked to help the TRC formulate a set of guidelines for the purpose also expected to help in regulating anti competitive behavior.rn […]
Counting Pennies
Private sector credit demand has been on an upward trajectory this year, with the Central Bank expecting year-end growth to hit 16 percent.rnrnrnrnrnrnrnNew Page 1rnrnrnrnrn Thernbank on Friday cut its key short-term interest rates by 75 basis points, tornprovide better lending opportunities to the private sector.rn The overnight repurchase rate or the reversernrepo, was cut […]
Tax Free
Asian Hotels will merge with fully owned subsidiary Crescat Developments (CDL) to take up recent tax relief offered to help under performing industries. The government in March offered the concessions for companies to merge with non-performing industries.rn rnThe merger will give the two firms an additional three year tax holiday and customs duty and exchange […]
Fresh Cuppa
The ultimate goal of being a leading international brand has brought a new entrant to the local tea marketing fraternity – J V Gokal Ceylon, the Indo-Lanka BOI venture of J V Gokal & Company India will commence tea bagging operations in September. Initially packing a country origin tea, the firm will develop a full […]
Two More
In line with the national numbering plan, Sri Lanka Telecoms Colombo Metro subscriber base whose numbers begin with 3,4,5,6,7,8 and 9.The six digit phone numbers within the Colombo Metro switching areas will add the number two before the present number.rn rnThe change will be effective from August 16.rn rnThe transformation is the next phase of […]
Steep Drop
The Central Bank cut its key short-term discount rates by 75 basis points on Friday after its monthly monetary policy meeting on Thursday evening.The overnight repurchase rate or repo rate was lowered to 7.5 percent, while the reverse repurchase rate or reverse repo was reduced to 9.5 percent. rn rnThe bank last reduced the rates […]
Weight Watching
Peoples Bank is talking to investors to sell off two of its subsidiaries, as part of its ongoing restructuring programme.Sri Lankas largest state-bank has opted to move out of Peoples Merchant Bank (PMB) and Peoples Venture Investment Co.(PVIC).rn rnTop officials say a serious buyer for its merchant banking business has not been identified yet.rn rnThe […]