All Blogs
Fund Raising
Lead managers for the governments dollar raising exercise plan to tap the American and Europe markets in about ten days time. Deutsche Bank and UBS Warburg on Tuesday, won the mandate to raise US$ 100 mn through a five-year floating rate note.rn rnThe investment banks have the option of raising a further US$ 100 mn […]
Legal Hunt
The top level Financial Reforms committee is looking at ways to support derivative laws in Sri Lanka.The committee has appointed top debt market specialist Mangala Boyagoda, Chief Executive of Standard Chartered Bank, to look at the gaps that quote s holding firms back from using derivative instruments.rn rnA derivative is a contract between two parties […]
Habib Bank moves out
Habib Bank AG Zurich was formally taken over by Hatton National Bank recently.rn rnAcquisition of Habib bank quote s assets of over 2 billion rupees has strengthened HNB quote s balance sheet of over 100 billion rupeesrn rnInternational banks are moving out to concentrate on familiar markets closer to home. rn rnldblquote Strategic decision taken […]
Tea (Pvt) Ltd
Moves to set up an Export Marketing Council for the tea industry is underway that will take over Tea Board promotions and include officials from the Export Development Board, the Board of Investment and the new Tourism Bureau.The proposed council will take over all promotional work currently carried out by the Tea Board, working hand […]
SLT Indian connection
Sri Lanka Telecom tied up with Indian Telecommunications company Bharti Telesonic to channel overseas traffic between the two countries.The direct link from Colombo to Chennai provides higher bandwidth and a better service for customers.rn rnSLT also expects its revenues to soar as a result of the deal.rn rnldblquote There are well over 2 billion minutes […]
Donors For Rehab
Government is seeking donor assistance to resettle displaced people in the war-affected regions to establish normalcy and help the peace process.rn rnDespite the risks, bilateral and multilateral donors are also lining up to lend for reconstruction in the North and East provinces.rn rnSome institutions like the World Bank are taking a fresh approach to identify […]
Flat Roofs
The government plans to offer subsidies to promote low and middle-income houses through the November budget.rn rnState pension funds are talking to specialised housing banks like State Mortgage and Investment Bank and Housing Development Finance Corp. to lend around Rs. 150 mn at concessionary terms. rn rnSources said the Employees Provident Fund plans to lend […]
Matchmaking
The first phase saw the CEO of US based Washington Technology Partners Inc., Abhishek Jain scope out Sri Lankan companies best suited to support selected US IT market.rn rnOn his return to the US, Jain will shortlist around 15 companies and match them with US companies in early 2003 supporting direct business links. rn rnIn […]
Single Lane
Malaysian based Road Builder Holdings has become the sole contender to finance and manage the Colombo-Katunayake Expressway.Work on the US$ 130 mn highway has started with the Treasury allocating Rs.10 bn to Keangnam Construction Company.rn rnNearly 14 parties earlier expressed interest to finance and take over management of the highway, eventually running it as a […]
Reaching Out
The World Bank is focusing on community development projects in the north and south to bring immediate benefits of peace at grassroots level, overcoming structural and man made problems.rn rnldblquote It is important for the benefits of peace to start flowing to the north fast, dblquote World Bank Country Director Peter Harrold told Lanka Business […]