All Blogs
Globe Trotting
In a decision made earlier this year the Cairo and Istanbul offices were closed down in view of relocating them to potential growth markets. Tea Board officials say the EU and the Far East including Australia and New Zealand accounted for a small percentage of Sri Lankan tea exports.Director, Tea Promotion Bureau, Hasitha de Alwis […]
More Cash
The unsecured, subordinated redeemable debenture will carry a five-year tenure and will be quoted on the Colombo Stock Exchange. rnrnThe issue will be doubled by Rs. 300 mn in the event of an oversubscription, Seylan Bank quote s Ajantha Madurapperuma told Lanka Business Online. rnrnHe said the interest rate for the issue has not been […]
Battle Ship
An industry spokesperson said this hogging exercise was causing unnecessary delays in servicing the cargo ships.rn rnldblquote Jaya Container Terminal (JCT), with its 10 berths, is virtually idle while SAGT operating two berths is struggling to cope with its greedy ways, dblquote the spokesperson said. rn rnThe spokesperson claims that a ldblquote first to refuse […]
Opposite Direction
The withholding tax on interest income is having reversal effect on treasury instruments, with the government effectively paying the tax up front at the time of the auction. rnWhile the 10 percent tax pushes the cost of borrowing up, dealers end up adding the tax when they bid at the auctions. rnImposing the tax on […]
IT Expedition
Still in its infant stage, GeneSys is waiting for the auspicious moment in August when the Telecommunications Regulatory Commission will formally declare the reformed IT and Telecom Act, to launch a flurry of communication services here and abroad.rn rnThe company quote s focus areas will include payphone and prepaid-card platform development, cable TV network design […]
Cleaning Up
The introduction of the Code of Best Practice for Audit Committees will require auditors to be more transparent with their fees, and the reporting of conflicts of interest with the management. rn rnThe Institute believes that this will enable the audit committee to differentiate audit work from the other services rendered. rn rnThe Code, despite […]
Off The Runway
Capitalising on the recent peace dividends, SriLankan Airlines plans to step up its recruitment drive and scout the second-hand aircraft market to lease two Airbuses and a smaller passenger aircraft this year, the national carrier quote s CEO said today. rnrnThe carrier also hopes to swing back to a profit in the present fiscal year […]
Strategising
Brokers say that the buyer is looking for a strategic stake in Richard Peiris and perhaps the management of the company.rn rnThe trade propped the benchmark All Share Price Index by 0.44 points to close at 618.29.rn rnThe Milanka Price Index closed 1.8 points higher at 1034.67 at the close of trading. rn rnTurnover was […]
Outward Bound
Maldives has been identified as a potential base for overseas students, with the Maldivian government making inquiries as to the ways their students can enter the local system. rnrnldblquote The potential is there to position Sri Lanka as a seat of learning, attracting foreign students and bringing foreign exchange into the country dblquote , Minister […]
Going Places
This achievement follows a concerted sales and marketing effort which saw the station move up seven places from 11 position last year.Ahead of Colombo in terms of sales of Emirates Holidays DSF packages this year, are Tehran, Nicosia and Istanbul. rnrn”This is a very commendable performance, especially in the context of the size and level […]