Author: lbostgadmin
Coming To Colombo
Sri Lankan aviation authorities have cleared Abu Dhabi based industry newcomer, Etihad Airways to fly daily to Colombo from March 03.Area Manager for Sri Lanka and the Maldives, Kumar de Silva says Etihad will take off with three weekly fights to Colombo with the main stray of initial sales coming from the migrant labour population.rn […]
Big Squeeze
LB Finance is tapping the capital markets to raise Rs. 200 mn by securitising its Rs. 1.1 bn leasing portfolio.The 33-year old company secures nearly 70 percent of its revenues by offering leasing facilities endash mainly to the vehicle segment.rn rnThe firm says its Rs. 2.0 bn deposit base, is hard pressed to feed its […]
Wide Choice
The Colombo Stock Exchanges debt trading system officially goes live next Wed. giving investors an opportunity to electronically trade in government treasuries and corporate debt paper.Investors can trade through specialised debt dealers; Capital Alliance, NatWealth Corp., and Seylan Merchant Bank, or 15 stockbrokers, the CSE said Wednesday.rn rnDeveloped by Millennium Information Technologies, the top-of-the-range trading […]
Political Pickle
No significant change in the percentage votes polled by the parties from the 2001 general elections is expected in the districts of Kandy and Matale because the JVP support is not seen to have grown in these two districts.rn rnNuwara Eliya too is not expected to bring any surprise changes because of the Hindu majority […]
Bits and Baggage
Waving in traffic from the web, the Tourist Board will try to lure elusive travelers from the US, Canada and Australia, with a portal for online transactions. The three markets together account for just over 40,000 tourists of the half a million that visited the country last year, with no focused promotions in these areas […]
Tripling Over
Hatton National Bank Ltd said Tuesday its full year group profits nearly tripled as it notched gains from its bond portfolio, despite hefty provisioning. Group post-tax profits jumped to Rs.1.571 bn for the year ending Dec.31, 2003, from Rs. 486.976 mn during the corresponding period.rn rnThe bank itself crossed the billion rupee mark for the […]
Poor Show
Sri Lanka may fall short of achieving a projected six percent growth this year, as politicking keeps investors at bay, Finance Minister K N Choksy said.Despite political jitters post November 11, the country notched a 5.6 percent growth last year, in line with Central Banks expectations, Choksy said.rn rnBut a snap parliamentary poll in April, […]
Call Forwarding
The roll out of a free incoming to mobile phones regime is being pushed back once again, this time to allow for greater public awareness. The telecom watchdog on Feb. 12 said the Caller Party Pays (CPP) regime would be effective from March 1, with fixed line users paying up to Rs. 5 more for […]
New Dentures
The government says it has put out a fresh draft, which gives the Auditor Generals Dept., more teeth to flex its muscle.An independent Audit Commission on the lines of other government commissions is expected to ensure autonomy of the Auditor General, says V Kanagasabapathy, Director General of Public Enterprises. rn rnldblquote The present situation is […]
Mushroom Magic
The centuries-old therapeutic magic of the Ganoderma mushroom, ranked by the ancients of China and Japan as the king of some 38,000 varieties of mushroom found on the planet, will soon be just a sip away for Sri Lankans. A local company, Magnum Investments (Pvt) Ltd., sole authorised stockist for Malaysias DXN Marketing Sdn. Bhd., […]
Jumping High
Ceylinco Life has ended fiscal year 2003 achieving its declared goal of crossing the three billion rupee mark in premium income.In results released this week, the company said premium income had grown 29 per cent to Rs.3.042 bn in the year ended December 31, 2003.rn rnThis performance was made possible by a 51 per cent […]
Private Tours
Privately owned helicopters could come to the rescue in medical and natural disasters and fly in to transport shipping crew between land and sea before long.Helicopters are due to make a comeback to Sri Lanka skies after initial groundings in 1995 and the new arrivals will not be limited to tourist transport.rn rnDeccan Aviation Lanka […]