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Fine Line
Sri Lanka Insurance Corp. quote s (SLIC) controlling stake in Commercial Bank may come up for grabs when the insurance giant is sold off this year.rn rnSLIC currently owns 29.91 percent in Commercial Bank, which is worth around Rs. 659 mn as at Dec. 31, 2001. The DFCC Bank is the next highest shareholder of […]
Looking Offshore
Insurance industry has been lobbying for this facility for many years, due to the dearth of long-term investible products and fluctuating local interest rates. rnrnldblquote Until the capital account is fully liberalised, we can only help out individual companies, provided they lobby their case effectively, dblquote Exchange Controller, H A G Hettiarachchi told participants at […]
Broad Bell
CEO, Joey Mendoza says the edge would be its pricing and exceptional speed.A combined levy where the internet tariff and the phone tariff are coupled could also be introduced he says. rn rnThe service will initially be limited to Lanka Bell customers before being opened up as a standalone service. rn rnMeanwhile, the company today […]
Copycat Law
Officials say the draft act that will protect ownership rights was completed early last year and is now pending parliamentary approval.rn rnAn attempt was made last year to ratify the draft act through parliament, but failed due to the political changes halting parliamentary proceedings. rn rnThe act will put in place a regulatory body with […]
SriLankan Holidays
The airline offers a wide variety of holiday packages.SriLankan Holidays and Stopovers offers customers holiday packages of one to four days or more, in Sri Lanka. A stopover holiday package includes transfers from airport to hotel and vice versa and hotel accommodation with breakfast. Customers may opt for accommodation only or accommodation plus tour from […]
Insurance Agent
Sri Lanka Insurance Corp. quote s privatisation kicked off today with the government calling for expressions of interest from local and overseas investors.rn rnPotential investors would get the management control and ownership of a stakes up to 90 percent of SLIC, with a possible option to buy the employees 10 percent shares. rnThe closing date […]
Adding Value
However, as always a faction continued on the lines that importation would kill the local plantations and wipe out most of the trade.On the contrary, if tea importation is allowed and with structured promotions exporters can effectively market tea from two nations. Sri Lanka is already the largest tea exporter, exporting around 20 per cent […]
Queuing Up
Central Bank officials say J P Morgan, HSBC and Solomon Smith Barney the investment-banking arm of Citi Group have expressed interest to raise up to US$ 400 mn for the government. rnAnalysts say the government may even raise as much as US$ 500 mn if the rates are favorable. rnIn the budget the government said […]
Take No Risks
SL AAendash 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, FRL said in a release on Monday. rn rnBOC quote s rating reflects its pre-eminent position as the largest bank in Sri […]
Lesson in Mandarin
China Airlines will carry SriLankan passengers from Bangkok to mainland China under the interim agreement.rn rnSriLankan Airlines officials said an agreement would be signed before August this year. rn rnBased on the success of the operation SriLankan will acquire a long haul Airbus to fly direct to mainland China.rn rnChina is one of the fast […]