All Blogs
Gassed!
The Court of Appeal issued an interim order on Friday stating a Consumer Affairs Authority (CAA) direction allowing all LP Gas traders to refill and sell LPG in any cylinder given to them.The court order was made following a writ filed by Shell Gas Lanka Limited (SGLL) against the Consumer Affairs Authority and two other […]
SLT Is Ready
The telecom watchdog is about to rubber stamp a long overdue tariff rise for Sri Lanka Telecom (SLT), while also reviewing its tariffs for submarine cables.The Telecommunications Regulatory Commission (TRC), is seeking a consultant to re-look at the pricing structure on the SEA-ME-WE submarine cables to allow cheaper access to other operators.rn rnSLT enjoys access […]
Adding Muscle
Laws to give banks and finance companies more muscle to tackle bad debts have got regulatory approval and are now before the Legal Draftsmens Dept. Under the amendments to the Debt Recovery Laws, finance companies registered with the Central Bank will be given similar parate rights as banks, says Dr.Wickrema Weerasuriya, Central Banks Consultant on […]
Lower Lending
The Central Bank on Friday cut its key short-term discount rates by 75 basis points, in line with its policy of lowering rates.The bank lowered the reverse repurchase (reverse repo) rate to 10.25 percent, while the repurchase rate was cut to 8.25 percent.rn rnThe bank last cut rates by 75 basis points on January 7.rn […]
Listed Homes
State housing finance giant HDFC, has sought a quotation on the Colombo Stock Exchange by way of an introduction.The Attorney Generals Dept. has recommended Housing Development & Finance Corp. or HDFC to get a listing, prior to raising fresh capital.rn rnA valuation by consultants E&Y two-years ago valued HDFCs Rs. 100 share at Rs. 640.rn […]
Warming Up
Average prices for tea at the Colombo auctions dropped to Rs.145.02 by April from an average of Rs. 156.82 in 2002. Low grown prices lead the drop, affected since February by the US led incursion of Iraq. The tension in the Middle East saw low grown sales average in February drop below the high grown […]
Building a Case
The construction professionals are calling for a national policy to guide the industry and ensure its sustainability.The Chamber of Construction Industry on Thursday said ad hoc and outdated policies were hampering growth and wasting scares natural and human resources.rn rnPresident of the Chamber Surath Wickramasinghe said clear state policies on resource (like rive sand) use […]
Roll Out
Legislature to roll out the e-Sri Lanka initiative is to be debated in Parliament on May 22. Economic Reforms, Science and Technology Minister Milinda Moragoda told participants at the first e-government conference on Friday that the ICT Bill was approved by Cabinet recently and would be debated in Parliament shortly.rn rnThe bill will formalise the […]
Buying Space
The telecom regulator is awaiting Ministry approval to allocate two frequency slots in the 1800 MHz range, of three put up for sale. Telecommunications Regulatory Commission (TRC) Director General, Themia Hurulle on Wednesday said that the documentation for the allocations would be presented to the Secretary to the Ministry of Mass Communication during the week.rn […]
Heading Up
Treasury Bill yeilds moved up by 64 basis points at the close of this weeks auction.rnrnrnrnrnrnNew Page 1rnrnrnrnrn rn rn rn rn rn rn Amount rn Bids rn Bids rn rn rn Avg rn rn yeild rn rn rn rn offered rn recvd rn accept rn rn This wkrn rn rn Last wkrn […]