Author: lbostgadmin
Fresh Bet
The Mahapola Trust Fund will test its luck at the lotteries game again, with a court injunction against its partnership with US lotteries operator GTECH Holdings withdrawn in August. The Mahapola Trust Fund will test its luck at the lotteries game again, with a court injunction against its partnership with US lotteries operator GTECH Holdings […]
Lifting The Veil
Sri Lankan firms are now allowed to buy shares or convertible debentures in Indian companies under Foreign Direct Investments, the Reserve Bank of India said Tuesday.Sri Lankan firms are now allowed to buy shares or convertible debentures in Indian companies under Foreign Direct Investments, the Reserve Bank of India said Tuesday. The move is subject […]
One Stop
Sri Lanka has opted to set up a common air-sea cargo facility, with an initial proposal on the project due in November.Sri Lanka has opted to set up a common air-sea cargo facility, with an initial proposal on the project due in November. Minister of Ports and Aviation Mangala Samaraweera told Lanka Business Online that […]
Central Bank raises US$ 55.25 mn worth of two-year debt at 163.48 basis points above six months LIBOR rates
The Central Bank has raised US$ 55.25 mn for the government through two-year Sri Lanka Development Bonds priced at 163.48 basis points above the six month’s London Interbank offered rate (LIBOR). The Central Bank has raised US$ 55.25 mn for the government through two-year Sri Lanka Development Bonds priced at 163.48 basis points above the […]
Call Transfer
A proposed rural telecom fund for network development will not be set up, instead monies coming from overseas call operations will be held by the industry watchdog.A proposed rural telecom fund for network development will not be set up, instead monies coming from overseas call operations will be held by the industry watchdog. The Vishwa […]
Stress Test
Mental illness is on the rise in the island but Sri Lankans prefer popping pills to pottering of to see a shrink.Ironically, psychiatrists don’t feel like treating Sri Lankan’s either.Mental illness is on the rise in the island but Sri Lankans prefer popping pills to pottering of to see a shrink. Ironically, psychiatrists don’t feel […]
Life Extension
Ceylinco Insurance says it is in talks with Hayleys AIG to acquire its life insurance business in Sri Lanka.Ceylinco Insurance says it is in talks with Hayleys AIG to acquire its life insurance business in Sri Lanka. Hayleys AIG, which has over 6,000 life policyholders at present, plans to concentrate on general insurance in the […]
Seylan Merchant Bank is raising up to Rs. 200 mn in debt to feed its growing leasing business
Seylan Merchant Bank (SMB) is raising up to Rs. 200 mn in debt to feed its growing leasing business. Seylan Merchant Bank (SMB) is raising up to Rs. 200 mn in debt to feed its growing leasing business. The four-year unlisted debenture will open for subscription from Sept. 8 to Dec. 31., the bank said […]
‘s role to expand, as private sector cant lead the country on its own
The Treasury Secretary said they plan to expand the role of the government because they think the private sector alone can’t lead the country.The Treasury Secretary said they plan to expand the role of the government because they think the private sector alone can’t lead the country. But he says the state has got the […]
Gold Conspiracy
Sri Lanka Customs have filed documents in the Court of Appeal which bares an alleged scheme to subvert officials in at least three government departments in a an elaborate conspiracy to defraud the government of tens of millions of rupees in revenue, from the import of GoldQuest products.Sri Lanka Customs have filed documents in the […]
Gold Revelation
Contradicting all previous claims that GoldQuest products are priced at several times their real gold value because of a supposed ‘numismatic’ value, the company has revealed to the Court of Appeal that its products are over priced because it has membership maintenance fees incorporated into the sale price. Contradicting all previous claims that GoldQuest products […]
Second Act
The Strategic Enterprise Management Agency (SEMA) is drawing up legislation to permanently insulate state institutions from political interference.The Strategic Enterprise Management Agency (SEMA) is drawing up legislation to permanently insulate state institutions from political interference. The Act will give Singapore-style independence for state owned institutions to take commercial decisions. “In our Charter, one of the […]