Author: lbostgadmin
Fast Track
Union Assurance Ltd has posted a mammoth 227 percent growth in net profits for the first six months ending June 2003.Post tax profits for the period rose to Rs. 61.4 mn as against Rs. 18.8 mn in 2002.rn rnConsolidated Revenue grew 16.3 percent to Rs. 1.07 bn during the period under review.rn rnUALs total investment […]
Flight Schedule
The government will advertise shortly for private investors to manage its upper airspace, offering also, operations and maintenance at the Bandaranaike International Airport. ldblquote We have taken a decision to re-advertise for upper airspace management together with operations and maintenance at the BIA as a single package dblquote , an official said.rn rnIncluded in the […]
Mine Ahead
The United Nations Development Program said Thursday, that they will strengthen ongoing de-mining efforts in the North, with a technical assistance grant of US$ 3.2 mn. Since a ceasefire 19 months ago, there has been humanitarian mine assistance to remove some 1.5 mn landmines still lying buried in private and fertile agricultural lands in the […]
Left Over
The Treasury is selling its residual stakes in 19 firms, 14 of them through the Colombo Stock Exchange. At current trading prices, the stakes in 13 of the 14 listed firms are worth Rs.194.6 million.rn rnThe larger parcels of the listed shares and the five unquoted firms will be sold on an all or nothing […]
Product Extension
Hatton National Bank is expanding its treasury operations with plans to start a fund management unit on the cards.Chairman, Chrishantha Cooray says the asset management company will be formed under aegis of HNB Securities Ltd.rn rnHNB Securities currently handles the banks primary dealer operations. rn rnldblquote We want to grow the fund management business slowly […]
Private Help
The countrys top business chamber is trying to raise private sector investments to support the governments development vision.Ceylon Chamber says their annual convention in October will focus on the governments Regaining Sri Lanka vision, which seeks to create two million jobs over the next few years.rn rnThe Chamber hopes that investments by the private sector, […]
Early Retirement
The government plans to retire some of its domestic debt starting next month, due to an influx of dollars into the market.The long-awaited US$ 100 mn loan from Citibank is expected to come through within the next few weeks.rn rnThe five-year syndicated loan, which is backed by Nippon Export Investment Insurance Company of Japan, was […]
Rallying Support
The Ceylon Chamber will mobilise private sector support for the states “Regaining Sri Lanka” initiative though its annual convention, which hopes to take the theme to its next level.The Chamber says local businesses are being risk averse and holding back on their capabilities until a permanent peace was established.rn rnOrganisers say to encourage the private […]
External Cleansing
The government has sought the Asian Development Bank and World Bank help, to do an impact assessment on the ongoing Samurdhi programme.Donor agencies have been critical of the selection process of welfare beneficiaries, as well as the lack of an exit mechanism, which resulted in more and more householders being added, until half the country […]
Non-elastic
Lack of funding could kill the rubber industrys research arm warns the Rubber Research Institute. RRI officials estimate that over Rs.23 million is urgently needed to upgrade the age old equipment and to improve other sections at the Institute. rn rnOfficials say without the new equipment, the RRI is unable to develop new research to […]
War Spoils
The government is rolling out a series of rural road development and electrification projects as it starts spending the lquote peace dividends, of a 19-month ceasefire.rnrn rnAn accelerated development programme is being rolled out at a cost of Rs. 17.4 bn over an 18-month period to take roads and electricity to parts of rural Sri […]
Firewall
Regional Heads of WIPO (World Intellectual Property Organisation) are attending a two day workshop starting Tuesday to draw an outline for the Organisations future activities in the Asian region. Twenty five regional countries are represented, and will allow for the delegates to identify emerging issues and problem areas along with possible remedies for them.rn rnThe […]