Author: lbostgadmin
Tempting Treats
The Colombo Stock Exchange has made an attractive offer to primary dealers, to entice them to make use of the exchanges top of the range debt trading system.To encourage greater participation, the stock exchange is waiving the Rs. 1 mn entry fee and also allowing the primary dealers to join in as separate members, CSE […]
Growing Wings
An ambitious three-year expansion drive to upgrade the Bandaranaike Airport into a regional air hub officially got off ground Wednesday. The Airport is being expanded in two phases.The first will be development of existing terminal facilities and phase two will focus on adding another runway to the airport.rn rnThe Japan Bank for International Co-operation (JBIC) […]
Tidy Sum
The government has picked up Rs. 262 mn as dividends from SriLankan Airlines, after the national carrier reported a Rs.2.1 bn group profit for the financial year ending March 31, 2003.SriLankan Airlines said Wednesday that it has declared a 10 percent final dividend for the financial year 2002/3.rn rnThis is the third instance the airline […]
All Or Nothing
Sri Lanka Telecom has made an official pitch to take up a controlling stake in the third fixed line operator Lanka Bell.Lanka Bell, which uses wireless local loop technologies, has been on the hunt for a technical partner after its total debts were wiped off under a comprehensive debt-restructuring programme in April.rn rnThe debt forgiveness […]
Canal Park
Colombos underutilised canal system is getting fresh life, with the private sector called in to develop four of the citys waterways.rnrnThe sites include the canal on Nawala Road near the Open University and the Wellawatte Canal accessible from Highlevel Road. rn rnThe Land Reclamation and Development Corp., on Wednesday said it is offering the sites […]
Security Check
The Securities and Exchange Commission of Sri Lanka (SEC) will join 170 other international securities commission to combat cross border securities fraud. An announcement on Tuesday said that the SEC had been accepted as a signatory to the International Organisation of Securities Commissions (IOSCO) Multilateral Memorandum of Understanding concerning consultation, cooperation and exchange of information.rn […]
One Approach
The Bank of Ceylon is fine-tuning its loan book to boost private sector lending and limit its exposure to state owned entities. Loan growth for the first six months dipped marginally by 0.6 percent to Rs. 134.49 mn. Officials say the appetite for credit has been below political expectations, but within banking norms, considering the […]
Private Tuition
The private sector will absorb 5,000 unemployed graduates under a revamped graduate assistance programme. The Sarasavi Saviya Programme, the successor to the PA governments Tharuna Aruna project, is being planned to provide up to 10,000 jobs under the first phase due to end by December 2003.rn rnMinister of Employment and Labour, Mahinda Samarashighe told reporters […]
Deflation
The Board of Investment is forging ahead with a colossal restructuring effort, with UNDP stepping in, to guide the re-haul the top investment promotion vehicle into a leaner, more efficient structure.Non-core functions like zone management and regulatory services are to be spun off separately, with the BOI narrowing its focus to key areas like investment […]
Regional Wire
A number of services will be made mandatory under the technology neutral licence and could be issued by mid 2004. rn rnInterested firms could have to bid only for license through a single round simple open auction process. rn rnThe two licences could cover the North-East and the deep South regions selected on the parameters […]
Hot Teas
Ceylon Tea Services is calling on the government to support a common brand name for the tea trade, through a package of incentives similar to the early 1980s offer.The Dilmah brand rode off the support given in the 1980s programme, today to become a leading international brand. Company officials say it is still not too […]
Aid Spend
Cabinet Spokesperson Prof., G L Peiris says the government expects nearly US$ 1 billion of the US$ 4.5 billion in aid pledged at the June Tokyo conference to flow into the Sri Lankan economy before end 2004.The increased aid follow has prompted policy makers to increase the allocation to key sectors roads and rural electricity. […]