All Blogs
Reforms Take Top Slot
Financial and public sector reforms are high on the list of the upcoming IMF backed structural adjustment program in March.rn rnIMF resident representative Jeremy Carter says Sri Lanka has to trim its bloated public sector, which is the largest in the world in per capita terms.rn rnSri Lanka is likely to get about sixty five […]
Communal Records
The population registry is touted as a first step in implementing e-governance in Sri Lanka and forming an integral part of the e-Lanka initiative. rn rnThe registry will combine state records of the Sri Lankan population now idling in different state departments.rn rnThe database will provide all state departments with ready access to records needed […]
What Firms Want
Sixty per cent of the private sector is betting on a three to five per cent growth in the economy for 2003, below government forecasts.rn rnA wistful 58 per cent expect prices to swell within a range of seven and eleven per cent in 2003.rn rnThe findings are responses to an International Monetary Fund (IMF) […]
Teenage Bonds
One and a half billion rupees worth of bonds were auctioned on Thursday with a coupon of eight and a half percent.rn rnThe issue, which was over subscribed, has a market yield of 9 point zero eight percent.rn rnPublic debt department says the long-term bonds will also help the private sector by providing a benchmark […]
Road Barons
UML will pump around Rs.100 mn into the joint venture, with plans to expand the motorbike marketing venture into local assembly under a second stage, United Motors Lanka Managing Director Anil Wijesinghe told Lanka Business Online.rn rnWijesinghe said the two firms ldblquote have successfully concluded negotiations on entering into a joint venture partnership. dblquotern rnMotor […]
Patience!!
The Central Bank on Thursday responded to the public debate on Pramuka Savings & Development Banks crisis, by saying it will reveal all as the weeks go on.In a lengthy six-page statement, the monetary authorities gave a brief description of its actions since Pramukas licence was cancelled in December 18, 2002.rn rnDespite several warning letters, […]
Double Decker
Peoples Leasing is planning to securitise a further Rs. 500 mn of its bus lease portfolio to ease its maturity mismatch.The new issue comes after the company successfully placed Rs.500 mn last month. rn rnPeoples Leasing has become one of the top five players in the local leasing industry within a short period of six […]
Riding High
DFCC Bank on Thursday secured a SL AA national rating from Fitch Ratings for its implied long-term unsecured senior debt. SL AA long-term rating denotes a very low expectation of credit risk. The rating indicates a very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events, Fitch […]
Crossfire
Rising tension in the Middle East is buing holes in the Sri Lankan tea industry as prices plummet and stocks accumulate at auctions. Low grown teas are seeing the brunt of the Middle Easte crisis, with prices on average dropping by Rs. 20.00 in two weeks. In addition, a backlog over 15 million kilos of […]
Wrong Number
Policy makers agreed to come forth with a revised date plan to issue external gateway licences, decided at a stakeholder meeting on Wednesday. rnrnTelecom operators on January 24, united to lobby against the draft External Gateway Operator (EGO) licence citing shortcomings including the lack of access tariffs. rn rnA lack of an interconnection framework also […]