Author: LBO
ATM’s and tourists in the airport have to make do with dirty currency notes, while the Central Bank tries to overcome an issue with currency
Automated teller machines and tourists in the airport have to make do with dirty currency notes, while the Central Bank tries to overcome an issue with currency.Automated teller machines and tourists in the airport have to make do with dirty currency notes, while the Central Bank tries to overcome an issue with currency. Banks who […]
Captain’s Pick
Business magnet Deshamanya Ken Balendra has been appointed as Chairman to head the investment committee of the recently launched private equity fund – Aureos South Asia Fund I.Business magnet Deshamanya Ken Balendra has been appointed as Chairman to head the investment committee of the recently launched private equity fund – Aureos South Asia Fund I. […]
Jetwing Group takesover Trinco’s Welcombe Hotel management for a short stint
The Jetwing Group, has taken over the management of ‘The Welcombe Hotel’ in Trincomalee, infusing its own brand of leisure expertise over a two-year period. The Jetwing Group, has taken over the management of ‘The Welcombe Hotel’ in Trincomalee, infusing its own brand of leisure expertise over a two-year period. The Welcombe (named after the […]
The Jetwing Group is infusing US$ 1.25 mn to transform its Trincomalee beach front property into a luxury ‘tented beach camp’.
The Jetwing Group is infusing US$ 1.25 mn to transform its Trincomalee beach front property into a luxury ‘tented beach camp’. The Jetwing Group is infusing US$ 1.25 mn to transform its Trincomalee beach front property into a luxury ‘tented beach camp’. Sprawled over 23 acre patch of jungle with a beach frontage on the […]
Ten percent of the Lanka’s reserves have been drained so far, as the Central Bank tries to defend a weak rupee.
Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, which is on a steady slide against the US dollar.Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, […]
Don’t Be Duped
The Central Bank on Wednesday warned the public against using foreign currency bank drafts or membership charges to invest in pyramid or similar referral marketing schemes.The Central Bank on Wednesday warned the public against using foreign currency bank drafts or membership charges to invest in pyramid or similar referral marketing schemes. The notice, the fourth […]
Fly Away Peter’85
Colombo is unusual for a capital city in having a large number of wetlands.rnAround Kotte for example a number of wetlands still remain.rnBut these natural assets are deteriorating by the day. rnWhile in developed countries billions are being spent on re-creating nature reserves to enhance the quality of life of city dwellers, Sri Lankans are […]
Who’s The Face?
The absence of a coherent economic policy, ranging from fiscal discipline, economic reforms, together with how fast new government will woo foreign donors to resume stalled aid, still remain a relatively grey area.rn rnldblquote The key thing is to see who will be the actual public face behind key ministries and state institutions, dblquote observes, […]
The Point Is’85
Consolidation in the financial sector over the last few years has resulted in small banks that were struggling for survival being taken over by the larger players. Banking sector analysts say the trend will continue leaving half a dozen banks dominating the financial landscape.rn rnBut it is not just the banking operations that are seeing […]
Look Who’s Talking?
The main opposition Peoples Alliance is geared for Act Two of the ongoing political drama, with the President on Thursday setting a mid December deadline for political haggling with the Prime Minister to end.President Chandrika Kumaratunga set this deadline, while addressing a cross section of the business community late Thursday.rn rnA memorandum of understanding between […]
Ready’85 Go
Governor of the Swedish Central Bank says Sri Lankas Central Bank is almost ready to go for a fully-fledged inflation targeting exercise.Sweden has successfully used an inflation target based approach to stabilize its economy.rn rnTypically, a central bank will set a low, but credible target and change interest rates to achieve it, regardless of what […]
Well Cell’85
Celltel, the countrys No 2 mobile operator announced plans to invest US$4 million to increase coverage. This is the companys 4th phase of expansion.rn rnCelltel hopes to grow its network to 250 base stations and improve coverage in the south coast. rn rnPhase 5, which is to begin early next year, will more than double […]