Author: lbostgadmin
Butt end Budget
The presidential election has cast a cloud over the budget making it less important to investors and the private sector in general. The presidential election has cast a cloud over the budget making it less important to investors and the private sector in general. Uncertainty as to what policies may be implemented or amended after […]
Coming Together
Ministers of South Asian countries keen to promote tourism met in Colombo after Sri Lanka expressed interest to join the region grouping that was financed by the ADB.Ministers of South Asian countries keen to promote tourism met in Colombo after Sri Lanka expressed interest to join the region grouping that was financed by the ADB. […]
Business As Usual
Commercial Bank will expand its off-shore banking operations outside the country after raising US$ 65 million from international capital markets.Commercial Bank will expand its off-shore banking operations outside the country after raising US$ 65 million from international capital markets. The bank which is already lending actively in the Maldives is looking at other markets like […]
Candy Man
Sri Lanka plans to lean on foreign aid and debt relief to trim its deficit, though Tuesday’s budget will be sugar coated to woo voters in the run up to next week’s keenly contested presidential poll.Sri Lanka plans to lean on foreign aid and debt relief to trim its deficit, though Tuesday’s budget will be […]
Cake Walk
Sri Lanka’s Hatton National Bank said Monday that it posted a 777 percent growth in post tax profits for the three-months to Sept 2005.Sri Lanka’s Hatton National Bank said Monday that it posted a 777 percent growth in post tax profits for the three-months to Sept 2005. Group net profit for the third quarter was […]
Getting More Interesting
If last week’s Extraordinary General Meeting vote of the Commercial Bank went ahead as planned the Chairman Mahendra Amarasuriya might have won considering the Appeal Court had limited the voting power of a group led by Harry Jayawardene to 10 percent from their 42 percent holding.If last week’s Extraordinary General Meeting vote of the Commercial […]
Sri Lanka picks Citigroup to raise dollar loan
Sri Lanka has picked Citigroup Inc., of US to lead arrange a US$ 100 million syndication loan for the government, Finance Minister Sarath Amunugama said Monday. Sri Lanka has picked Citigroup Inc., of US to lead arrange a US$ 100 million syndication loan for the government, Finance Minister Sarath Amunugama said Monday. Funds from the […]
Sri Lanka PM vows no more war on campaign trail with troops in Jaffna
Sri Lanka’s prime minister and presidential hopeful met Friday with troops in the Tamil heartland and vowed there would be no more war with Tiger rebels. Sri Lanka’s prime minister and presidential hopeful met Friday with troops in the Tamil heartland and vowed there would be no more war with Tiger rebels. Premier Mahinda Rajapakse […]
‘s private sector cold shoulders next week’s budget
Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget.Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget. Given Sri Lanka’s practice of sudden policy changes and surprise taxes, the […]
India to replace UK as the number one tourists market
Visiting Indians, who pop over for business and shopping bargains, is likely to replace the United Kingdom as the biggest tourism market for Sri Lanka this year, top officials said Friday. Visiting Indians, who pop over for business and shopping bargains, is likely to replace the United Kingdom as the biggest tourism market for Sri […]
Opposition leads Sri Lanka presidential race: survey
An opinion poll Wednesday gave Sri Lanka’s opposition leader an edge in the presidential race, with a majority saying he was better able to revive the economy and the troubled peace process.An opinion poll Wednesday gave Sri Lanka’s opposition leader an edge in the presidential race, with a majority saying he was better able to […]
Sri Lanka likely to up welfare spending in budget
Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. The […]