Author: lbostgadmin
On the Rebound
By end November this year, 445,000 tourists flocked into the country and hotels were running out of rooms, as Sri Lanka inched closer to the elusive half a million target. This was still up on the 350,988 visitors as at end November last year, with the tourism sector confident that it will reach about 550,000 […]
Spending Spree
Commercial Banks Automated Teller Machine (ATM) network disbursed a record Rs 300 million over the three-day weekend in December, the bank said this week. Commercial Banks Chief Manager – Operations Palitha Perera said 87,000 cash withdrawals and 55,000 non cash transactions were recorded over the December 6-8 weekend from the Banks 153 ATMs.rn rnThe banks […]
New Blood
Merchant Bank of Sri Lanka is tapping the local debt market to raise up to Rs. 200 mn to fuel its expansion programme.rnrnrnrnrnrnNew Page 1rnrnrnrnrn Arnfour-year unsecured debenture, which comes with a combination of fixed andrnfloating interest rates starting from 10 percent, will be on offered to thernpublic shortly.rn rn rn rn THE ISSUE rn […]
Bird Business
A top Sri Lankan bird study group is riding the slipstream of seasonal trends to create awareness and fund their research and conservation efforts.rnrn rn rnrnField Ornithological rnGroup of Sri Lanka (FOGSL) has got involved in developing educational seasonal rngreetings cards featuring Birds. Part of the profits will go towards research rnand conservation efforts.rn rn […]
Help at Hand
ThernrnAsian Development Bank on Thursday approved a rnUS$ 80 million loan package to improve daily living conditions in the North and rnEast of Sri Lanka. rnThe project will focus its activities on the most-severely conflict-affected districts: Jaffna, Mannar, Kilinochchi, Mullaittivu, Vavuniya, Trincomalee, Batticaloa, and Ampara, where essential infrastructure will be rehabilitated along with restoring community […]
New Money
The Ministry of Enterprise Development, Industrial Policy and Investment Promotion. is hoping to raise US$ 90 mn next year to fund the second leg of a concessionary loan scheme to small and medium scale enterprises. Ministry officials say they could approach the Asian Development Bank (ADB) for assistance, this time to help the state raise […]
Straight Run
Initial bid papers for the Colombo Katunayake toll road will be on offer in two weeks, with an annuity based financial model for prospective investors, also finalised. Documents are ready for a pre-qualification round, to be open in two weeks to narrow down the interest to six firms, who will then submit full detailed proposals.rn […]
Via Colombo
Middle East based airline, Qatar Airways says it will fly via Colombo on its way to Australia, picking up Indian tourists to fill up its flights. Flights to Australia will take off after rounding up bilateral aviation negotiations between Sri Lanka and Qatar in March 04.rnrnThe transit operation from Colombo to Australia is part of […]
Saving Face
Starting off talks on environmental conservation the World Conservation Union (IUCN) called for a change of attitude among conservationists and corporates to enable sustainable development in Asia. The IUCN conference on regional conservation issues kicked off its first session in Colombo on Tuesday laying emphasis on the role of businesses and industries in environmental conservation.rn […]
One-to-One
The Telecommunication Regulatory Commissions case against cellular operator Mobitel Private Limited at Magistrates Courts is to be called again on December 18, allowing time for dialogue between the two parties. Industry officials say the telecom watchdog and Mobitel representatives are to meet Wednesday evening to pursue a settlement for the dispute.rn rnIt is understood that […]
Re-engineering
The Public Enterprises Reform Commission (PERC) on Wednesday said it would call on prospective investors to stake their claim in State Engineering Corp., (SEC) by March 2004. ldblquote The divestiture process will take around 20 weeks and it is expected to call for proposals from strategic investors in March 2004, dblquote PERC said.rn rnThe government […]
Mix and Match
The Govt., the World Bank and the Asian Development Bank are preparing a survey on the investment climate in Sri Lanka.The survey will help policy makers address impediments to investment including legal, policy and institutional reforms.rn rnThe exercise forms part of a regional effort to attract more investment and promote information sharing between the countries. […]