Author: lbostgadmin
Listed Homes
State housing finance giant HDFC, has sought a quotation on the Colombo Stock Exchange by way of an introduction.The Attorney Generals Dept. has recommended Housing Development & Finance Corp. or HDFC to get a listing, prior to raising fresh capital.rn rnA valuation by consultants E&Y two-years ago valued HDFCs Rs. 100 share at Rs. 640.rn […]
Lower Lending
The Central Bank on Friday cut its key short-term discount rates by 75 basis points, in line with its policy of lowering rates.The bank lowered the reverse repurchase (reverse repo) rate to 10.25 percent, while the repurchase rate was cut to 8.25 percent.rn rnThe bank last cut rates by 75 basis points on January 7.rn […]
Going Once
The first online auction to sell four-digit international short codes for the telecom sector will get under way on May 22, the telecom watchdog said Wednesday.The Information Communication Technology (ICT) firm, who will design and run the auction will be announced on Thursday, picked from proposals submitted in response to the regulators call, Prof.Rohan Samarajiva, […]
Mooring Point
Sri Lanka Telecom (SLT) will set up its first point of presence (POP) outside the country – in the United Kingdom which generates close to 30 per cent of its international incoming voice traffic. UK is SLTs second largest call generator after India which accounts for nearly half of its incoming traffic. rn rnSLT officials […]
Smooth Talk
DFCC Bank plans to start due diligence work on MERC Bank next week and hope to finalise the transaction within two-months, a top official said Wednesday.DFCC said earlier it was in talks with MERC Bank, with the intension of acquiring it.rn rnldblquote Things are progressing. We have been open about our intensions to get a […]
Dead End?
Its back to the drawing board for the Colombo Katunayake highway project, facing its latest setback with the imminent pull out of only contender Road Builder Holdings.Last October, Malaysian owned Road Builder Holdings were sole contenders to complete, manage and operate the four lane, 25 km airport highway.rn rnThe biggest snag officials say has been […]
Heading Up
Treasury Bill yeilds moved up by 64 basis points at the close of this weeks auction.rnrnrnrnrnrnNew Page 1rnrnrnrnrn rn rn rn rn rn rn Amount rn Bids rn Bids rn rn rn Avg rn rn yeild rn rn rn rn offered rn recvd rn accept rn rn This wkrn rn rn Last wkrn […]
Long Haul
Qatar Airways is eyeing the European tourist and up-end business and leisure travellers as it tries to play down its traditional focus on Sri Lankas Mid East labour market.ldblquote We want to increase our corporate traffic, widening our wings to fly to more European markets, targeting our corporate and leisure travellers dblquote , said new […]
On Tow
Sampath said its was infusing Rs. 600 mn to Rs. 700 mn to bail out the troubled Union Bank.rn rnThe Sampath led consortium of investors also includes Chinkara Capital of Singapore. rn rnldblquote The recapitalisation/restructuring proposal when implemented, would result in a reconstitution of the appointment of an Advisory Board to oversee its operation, dblquote […]
Com Port
Sri Lanka Telecom (SLT) is looking to increase its non voice revenue streams, a Telecom City on 3.5 acres in Welikada being among them.As a SLT subsidiary, the Telecom City will house a data and call centre and offer the latest communication technology and services. rn rnThe network operator told shareholders that the Telecom City […]
Lantern Trail
Tapping into a niche market of Buddhist pilgrims, the Tourism Ministry is launching plans to package Vesak as an annual event in the industry calendar.In an organised promotion, travel and tour operators are being approached to design new packages for this clientele that will offer them discounted rates, special airfares and accommodation and tours.rn rnldblquote […]
Mountain Climbing
Funding sources to replicate the success of Elephant Corridor in the midst of a tea plantation are now being finalised.Elephant Corridor officials are working out investment options with a select group of Sri Lankan investors who are interested in the project.rn rnDevelopers estimate the 24 suite Leopard Mountain project in the midst of the Bogawantalawa […]