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Bigger Cushion
Primary Dealers in government debt were asked to raise their capital this month as the Central bank tried to strengthen the dealer network.The new regulations for dealers in the primary market for debt came in to effect at the beginning of the month.Primary dealers now have a minimum of Rs. 150 mn in Tier I […]
Opening Runways
The Civil Aviation Authority is awaiting the Ministry green light to open access to all of fourteen airports in the country.The Civil Aviation Authority says private airlines can start flights as soon as permission is granted, as the traffic will be light to the airports all of which are operational at present.rn rnThe airports mainly […]
Paradise Bliss
Brides and grooms in search of the dream wedding locations with a tropical twist have found the ideal setting in local beach resorts.The south coast is slowly emerging as one of the top wedding destinations for Europeans who want a beach ceremony.Hotels that specialise in wedding packages say its more profitable to tap this market […]
Number Hunt
Telecom regulators are proposing a new numbering plan for telephones, which they say, will aid growth in the industry.If implemented the plan will change the countrys phone numbers for the first time in decades.Phone numbers are also a scarce resource the telecom regulator has to manage together with ldblquote rights of way dblquote and the […]
Bigger Footprints
Sri Lankas largest private insurer, Ceylinco Insurance Co. is looking overseas with plans to add a few branches to its existing operations.Talks are under way to open up branches in Burma, Pakistan and Uganda in the coming months, Chairman Deshamanya, Lalith Kotelawala told journalists.rn rnThe company currently has operations in Nepal (joint venture with Sagarmatha […]
Wealth Management
The government has formed a new company to manage fee and fund-based activities of state corporations including the Mahapola Trust Fund.National Wealth Corporation will be a 100 percent government owned entity, but staffed by top private sector professionals, Commerce & Consumer Affairs Minister, Ravi Karunanayake told LBO on Friday.rn rnldblquote With interest rates coming down […]
G-Force
Sri Lanka will have its first 3G frequency auction in April, a limited exercise which will offer three slots in the 1800 MHz range.The auction will also be limited to the four mobile operators, who will make closed bids for the three slots.rn rnTelecommunications Regulatory Commission (TRC) Director General, Themia Hurulle told Lanka Business Online […]
Cold Cuppa
The tea industry continued its ill fate with indications that around 25% to 30% of all teas brought to the weekly auctions in Colombo would remain unsold. Brokers say low prices and a lack of demand could lead to a liquidity shortfall ahead of the Sinhala Tamil New Year in April. The low grown sector […]
Act Two
The private sector is calling for amendments to the Consumer Affairs Authority Act that is due to come into force on April 1, saying it has too many holes.The Act became law on the March 17 and is due to come into effect from April 1.rn rnAmong key concerns is the impartiality of politically appointed […]
Number Crunching
The printing industry could see a leap in orders by June this year as the telecom sector rolls out a ten digit number change. Phone numbers across the island will see up to four more numerals added before the existing numbers to total ten digits.rn rnThe new numbers will have a three digit area codes […]