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Quick Service
DHL Keells Ltd says it has pumped in Rs. 20 mn to revamp its Gateway Operations Centre.Situated at its bonded warehouse in Ja-Ela, the high-tech operation offers close circuit TV cameras, new conveyor systems, computers and a new volumetric measuring device, the firm said in a release.
Swift Move
Sri Lankas largest cellular operator, Dialog GSM, got another US$ 90 mn injection from its parent company, Telekom Malaysia Bhd on Thursday.Thursdays announcement raises Telekom Malaysias investment in its fully own Sri Lankan subsidiary to US$ 200 mn, its Chairman Muhammad Radzi Mansor told a news conference. rn rnDescribing its Sri Lankan investment as a […]
Building Blocks
The has government got international commitment to raise in excess of a billion dollars, over the next three years to rebuild the war ravaged economy.The announcement came at the end of a donor seminar for Sri Lanka hosted by the United States on Monday, which included representatives from 30 other governments and international financial institutions.rn […]
In Union
The National Savings bank will meet treasury officials soon about making an equity injection to the under capitalised Union Bank.NSB together with Sampath Bank and Chinkara Group of Singapore is considering an investment in Union Bank, which will then be managed by a special committee.rn rnNSB is looking at a Rs. 100 mn investment in […]
Managing State Funds
A new agency to manage government wealth plans to seek private sector expertise and capital to manage government funds.The National Wealth Management Corporation will soon ask for a license from the Central Bank to deal in the primary market for government debt.rn rnThe corporation established as a wholly owned subsidiary of the Mahapola Trust Fund […]
Traditional Markets
Every day for twenty-five years Louisa Nona has been coming to the pavement of the Pettah private bus stand with a load of betel leaves to sell.Often she returns home with more left over betel leaves than she could carry.rn rnThings are different these days.rn rnThis has nothing to do with her appearance but everything […]
Super Profits
Super markets are a big hit in Colombo. Most of them now try to entice the middle-income earners to the concept of everything under one roof from the mom-and-pop corner shops that have been around for decades.rnThe new Elephant House Super Pola is using the concept to grab the average corner store customer.rn rnIt attempts […]
Quality Growth
The National Chamber of Commerce Sri Lanka is advocating a socio economic policy that will benefit the masses.Economists say that regular U turns in national policies since independence have resulted in the country achieving mediocre rates of growth.rn rnThe government is now keen to push a bipartisan approach to policy formulation.rn rnldblquote We have to […]
Clean Book
Commercial Bank on Friday secured an issue rating from Fitch Ratings Lanka (FRL) for its upcoming debenture and preference share issue.The banks Rs. 3 bn debenture issue got a SL AA rating, while the Rs. 1 bn preference share issue will carry a SL AA- national rating.rn rnCommercial Banks senior debt carries a SL AA+ […]
Signed & Sealed
The government officially signed off its investments in the insurance business by disposing 90 percent of Sri Lanka Insurance Corp. to the consortium led by the Distilleries Co Group.PERC Director General, Deepal Gunaratne said Faiz Mohideen, Acting Treasury Secretary and Harry Jayawardene signed off the deal on behalf of both parties on Friday.rn rnThe Distilleries […]