Author: lbostgadmin
ADB lends US$ 570 mn focusing on infrastructure and rehabilitation
The ADB is planning to lend US$ 570 m to Sri Lanka over the next two years, according to a Country Strategy and Program (CSP) Update for 2005-2006 endorsed by ADB’s Board of Directors. The loan amount is based on annual commitments of US$ 90 mn from ADB’s concessional Asian Development Fund (ADF), which assists […]
Profits Evaporated
Local gas consumption is expected to slide further following recent price hikes, but market mover, Shell, says it is still loosing millions of rupees each day. Local gas consumption is expected to slide further following recent price hikes, but market mover, Shell, says it is still loosing millions of rupees each day. Shell Gas Lanka […]
Service Concerto
DMS Electronics Limited, on Tuesday said it would retail US based Concerto Software Inc.’s contact centre solution here. DMS Electronics Limited, on Tuesday said it would retail US based Concerto Software Inc.’s contact centre solution here. The range of contact centre products offer companies the option to offer multiple channels of communication to their clients […]
Empty Shell
The Consumer Affairs Authority (CAA) plans to take legal action against Shell and Laugfs for prematurely increasing gas prices.The Consumer Affairs Authority (CAA) plans to take legal action against Shell and Laugfs for prematurely increasing gas prices. The CAA says the gas retailers jumped the gun on a one-month waiting period, as required by law, […]
Sugar Coat
Parliament Tuesday the controversial land tax bill, paving the way for foreigners to be taxed 100 percent whenever they buy properties.Parliament Tuesday the controversial land tax bill, paving the way for foreigners to be taxed 100 percent whenever they buy properties. The Tax on Transfer of Property Bill, reverts back to an earlier Act No: […]
Rights Reserved
Sri Lanka’s publishing industry says enough is enough and has called in Asia’s only piracy catcher, to crack down copycat publishers ripping off almost half of the island’s US$ 6 mn book market.Sri Lanka’s publishing industry says enough is enough and has called in Asia’s only piracy catcher, to crack down copycat publishers ripping off […]
Mercury Rising
The Treasury says it will try to maintain fiscal discipline and try to keep interest rates low as much as possible. The Treasury says it will try to maintain fiscal discipline and try to keep interest rates low as much as possible. The Treasury is also hoping to keep to an eight percent budget deficit […]
Energy Costs
The government is trying to sell its watered down electricity sector reform plans to lending agencies and top up sector funds this month. The government is trying to sell its watered down electricity sector reform plans to lending agencies and top up sector funds this month. “The government will meet with the ADB and JBIC […]
Spiriting Cash
Telecom operators are concerned that money meant to finance rural connectivity channeled to the cash strapped Treasury as a temporary measure, will not be available for the industry when the legal framework is ready.Telecom operators are concerned that money meant to finance rural connectivity channeled to the cash strapped Treasury as a temporary measure, will […]
State of Affairs
Sri Lanka state has been given 90 days to respond to a landmark decision by the United Nations Human Rights Committee.Sri Lanka state has been given 90 days to respond to a landmark decision by the United Nations Human Rights Committee. The decision has opened the way for victims of human rights violations to go […]
LakeView Economics
The JVP has been accused of blundering in the dark when dictating macro-economic policies to the government.The JVP has been accused of blundering in the dark when dictating macro-economic policies to the government. But its grip on micro initiatives seems to be much better.Its much publicized tank rehabilitation scheme is one such effort. The waterless […]
HNB woos
Hatton National Bank says its shares are under-priced by the market.Hatton National Bank says its shares are under-priced by the market. This week it called an analysts conference to show that its shares are worth more than the levels reflected in the current prices. This has led to speculation that the bank could be heading […]