Author: lbostgadmin
Building Blocks
Standard concession agreements are being drawn up for the road sector, spelling out the financial, technical and legal A to Zs for potential private developers.rnrn Concession agreements spell out government policy in areas such as how many years a developer operates a project, to government concessions and guidelines on tolling.rn rnldblquote Concession agreements will form […]
Stately Homes
State housing finance giant, HDFC, is floating a construction company to cash in on the middle-upper income-housing boom.A fully owned subsidiary, HDFC Construction (Pvt) Ltd, will start off once HDFC gets its banking licence and a listing on the Colombo Stock Exchange.rn rnThe Housing Development & Finance Corp. needs a specialised banking licence to call […]
Side Dish
The government wants an interim cure for the collapsed peace talks so it can stick to development plans and aid utilisation schedules. Proposals being touted include commissioners to administer aid use and development work in the North and East.rn rnUpto two commissioners could be in place along with a number of district development committees that […]
Silent Watch
Watching for a leopard is patient labour; Studying the elusive and protected wildcat is something else altogether. But prohibitive research costs has conservationists turning to guided tourism as a gold mine and a possible solution.Sri Lankas national parks like the one at Yala, are home to a distinct sub-species of leopard, Panthera pardus kotiya.rn rnldblquote […]
Creating Wealth
National Wealth Corporation, the governments new wealth management agency, is offering its expertise to government institutions, private firms and high networth individuals.The corporation, established as a wholly owned subsidiary of the Mahapola Trust Fund (MTF), will also seek private equity later on, to strengthen its operations. rn rnldblquote What we intend to do is to […]
Perks For PERC
The Public Enterprise Reforms Commission is to be restructured this year expanding its scope to include monitoring State investments. The restructuring is expected to speedup the restructuring and privatisation of state enterprises while improving transparency in the process.rn rnPERC Chairman Chrisantha Perera told LBR that over the years, the commission has been regarded only as […]
Aid scare
Economists are warning that key fiscal targets could be missed as donors pledge a record amount of aid.Most of the US$ 4.5bn pledged at the Tokyo Donor Conference is debt on concessionary terms that eventually have to be repaid.rn rnAnalysts say this would automatically raise the countrys debt stock and the Debt to GDP Ratio.rn […]
HSBC Believes
A top HSBC executive says the banks operations in emerging markets like Sri Lanka play an important role in adding value to their global network.While some foreign banks have shut down their operations in the island HSBC is counting on the country becoming an Asian economic powerhouse.rn rnldblquote Sri Lanka could explode one day and […]
Tug-O-War
Shippers and exporters are pushing hard for legislation to resolve a long standing billing dispute with ship agents and owners.Shippers say the charge is being used by shipping lines to make profits, while making the countrys exports uncompetitive.rn rnThe Shippers Council has abandoned talks with ship agents to resolve a long running dispute to get […]
Back To Seventies
The Central Bank left key benchmark interest rates unchanged as the impact of the worst floods in decades was expected to have little effect on the economy.The bank in its monthly review of Monetary Policy said that inflation remained low as industrial output expanded. rn rnThe bank in a statement said that initial assessment of […]
Close Scrutiny
The Public Enterprise Reform Commission (PERC) plans to become a monitoring agency to look after the governments residual stakes in public corporations.The Treasury is putting together a list of companies the government has shares, which also includes financial institutions, PERC Chairman, Chrisantha Perera said.rn rnldblquote Some of these residual holdings are in restructured corporations or […]
Act Two
Work on drafting a fresh piece of legislation to replace the present Companies Act is due to get off the ground next week.The committee, which includes legal luminaries, like Aritta Wikremanayake, Dr. Harsha Cabraal, representatives from trade chambers, accounting bodies and the Bar Association, have been set a three months deadline to draw up a […]