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Unlocked
Foreign companies can now invest up to 100 percent of the equity capital of financial sector companies, free of exchange controls, the Central Bank said in a statement. rnThe move is “subject only to the rules and regulations stipulated by the relevant regulatory authorities pertaining to the activities of the companies in which investment is […]
Off Channell
eChannelling quote s Rs. 100 mn public offering, which was touted as Sri Lanka quote s first lquote dot com quote , failed to create an appetite among local investors, with less than half of the issue under subscribed at the closure yesterday.
German Escapade
rnSri Lankan’s CEO Peter Hill and Head of Commercial G.T. Jayaseelan are to meet with leading tour operators on a fact-finding mission to review pricing and ascertain demand prior to resuming operations. rnrnThe visit will also attempt to validate claims by the industry of insufficient capacity to satisfy the demand from German and Italian leisure […]
Breaking The Mould
The open debate will also sort through the political baggage that still remains one of the biggest hindrances to an efficient, disruption free system of education. rnrnldblquote The efficiency of education is tied down with its views focusing solely on the equity principle, not allowing for the efficiency and effectiveness of education. The situation is […]
Switchboard
SLT quote s Japanese partners Nippon Telegraph & Telephone Corp. (NTT) have also expressed willingness to increase its present 35 percent holding to 40 percent through its various associate companies, during the public issue, PERC sources said. rnThe government had earlier planned to list the fixed line monopoly through a combination of an international and […]
Easing Up
Money brokers are expecting a benchmark repo interest rate cut towards end April, due to twin effects of the IMF disbursement and improved liquidity in the money market following the festive season.Some even speculate that the Central Bank may announce the rate cut immediately, in order to give a clear signal to the market ahead […]
Loosening Up
Recently, several commercial banks have pointed out the severe restrictions imposed by the forex holding limit, impedes the growth of a local derivatives and futures market. rnrnThe Central Bank has considered these concerns and plans to replace the restriction on holdings with a risk based capital requirement, as a prudence measure to prevent capital been […]
New Head
Gunaratne is a Chartered Accountant by profession and presently is the Chairman of Sevanagala Sugar Industries. rnrnSevanagala Sugar, is in the process of being privatised with the government selling its 90 percent stake. Four parties have been shortlisted. rn
Ganu Denu
The Board has also approved Sri Lanka quote s request to extend the period of the current programme by two months to August 19 2002. rnrnThe Sri Lankan Government resorted to an US$ 253 mn stand by arrangement with the IMF early last year following a steep drop in official reserves and free float of […]
Capitalist Rebels
The rebel group quote s theoretician Dr.Anton Balasingham explaining his leader quote s stand said, ldblquote economic policy would be based on the open market system. [But] We can only think about the economic structure, after the conflict is resolved dblquote . rnrnThese statements are expected to somewhat mitigate the Sri Lankan business communities anxiety, […]