Author: lbostgadmin
Maiden Run
The Central Bank will start issuing its maiden batch government treasuries in scripless form this week, allowing the market to settle their transactions electronically.The first issue of Rs. 6.890 bn worth of treasuries came out of Wednesday auction, but will be issued to the market on Friday, with secondary market transactions slated for next Tuesday.rn […]
Up for What?
Colombos benchmark All Share Price Index (ASPI) shot up about 100 points on the back of more reports of a breakthrough in the political deadlock. However, stockbrokers say the actual ground situation on the political front has not changed significantly from two months ago.rn rnThe only positive reports to come out of the political arena […]
Take Home
Microsoft could couple a home edition license of its new Office 2003 software package free with every corporate license it sells in Sri Lanka. The incentive is meant to popularise the use of original software in the local personal computer (PC) population, as Microsoft plans to set up shop here in Sri Lanka.rn rnThe software […]
Twin Sharing
ldblquote In a strategic move AHOT and Crescat Developments are to be merged by early February in order to take advantage of Crescat Developments BOI status, dblquote said HNB Stock Brokers in its January review of the group.rn rnThe Asian Hotels Corporation (AHOT) owns the Colombo Plaza Hotel and Crescat Developments and has controlling interest […]
Standard Rates
The Tourist board is drawing up standards for emerging niche areas like Ayurveda, eco-tourism and spas, to certify and rank tourist hotels and resorts.Modelled on similar experiences in places like Costa Rica, where resorts are ranked on their eco-friendliness, Sri Lanka is trying to raise the profile of its tourism products.rn rnThe Tourist Board is […]
Pls Comply
The telecom watchdog has asked the Treasury to remove Sri Lanka Telecom chief, who has been charged for breaking immigration laws to help an alleged underworld figure.Thilak Ranavirajah, Telecommunications Ministry Secretary and the Telecommunications Regulatory Commission Chairman, has written to Treasury Secretary Charitha Ratwatte seeking SLT Chairmans removal.rn rnState-run news channels said Ranavirajah has sought […]
Open Arms
Sri Lanka and Bangladesh will dismantle all non-tariff barriers blocking trade between the countries, as a first step to a Preferential Trade Agreement (PTA). ldblquote The two countries decided last week in Dhaka, to dismantle all non tariff barriers with immediate effect, dblquote said Secretary, Ministry of Commerce, Harsha Wickramasinghe.rn rnThe identification and removal of […]
Soothing Balm
Finance Minister K N Choksy has appointed a committee to look into raising salaries of the Police force.Salaries of the armed forces and the police, were revised upwards from January, as part of an overall increment for government employees.rn rnBut the police force is not too happy with the 10 percent or Rs. 1,250 increment. […]
Port of Call
The Sri Lanka Ports Authority (SLPA) has set sail a proposal that will allow it to operate ports in foreign shores.SLPA Chairman, Dr. Parakrama Dissanayake told Lanka Business Online on Monday that the Prime Minister had approved the proposal by its management.rn rnThe proposal seeks to expand its services to operate overseas ports as part […]
Aid Ok
The international community will detach part of the US$ 4.5 billion in aid committed to rebuild Sri Lanka from progress with the peace process.Japanese special Envoy, Yasushi Akashi on Sunday said that donors were split over the decision to release aid, with some opting to hold back for a change in the current political impasse.rn […]
Religion and Economics
Economists who measure and comment on growth generally ignore the political and social forces that have a heavy bearing on the economy. A century ago Max Weber, a founder of sociology observed that the ldblquote Protestant work ethic dblquote was what made northern Europe and America rich.rn rnThe Protestant work ethic emphasized thrift and willingness […]
See Me
Dialog GSM says it is planning to create competition in international submarine bandwidth. Last Friday the IFC gave US$ 50 million in loan funding to the fast expanding mobile operator.rn Dialogs parent, Malaysia Telecom, a shareholder of the SEA-ME-WE 3 cable, initially invested US$ 140 million and has committed a further US$ 90 million.rn rnIFCs […]