Author: lbostgadmin
Active Partners
The Asian Development Bank (ADB) on Monday approved a Technical Assistance grant of US$ 500,000 to prepare country driven private sector development strategies for emerging nations. Sri Lanka is among four countries to participate in the programme which seeks to increase the private sectors role in long term growth and poverty reduction.rn rnOther countries to […]
Picking Up
Seylan Banks Group profits have shot up more than 50 percent, for the period ending March 31, 2002.rnrnrnrnrnrnNew Page 1rnrnrnrnrn rn First quarter Group profits for the periodrnending March 31, 2002rn rn rn rn rn rn rn rn rn
The Cabinets Axe
The Cabinet of Ministers rejected a decade old draft Companies Act over its departure from English Law principles.A Cabinet sub committee that had a look at the draft Act, which is based on the New Zealand Companies Act, says it goes against the English Law practiced in the country.rn rnThe corporate and legal profession, which […]
Consumer Drive
The Central Bank says consumerism contributed significantly to last years economic revival. Economists pointed out that the country is showing the early signs of a consumer demand driven growth.Economists say a fledging peace process created higher than expected demand for goods and services last year.rn rnldblquote In the past we looked at growth only from […]
Adding Glitter
As a British colony, Ceylon was favoured for sourcing raw material and other commodities to satisfy the boundless tastes of the English. From its teas to exotic spices all exports went out in raw commodity form.Over half a century after independence, things have changed very little.rnSome of the countrys top exports still go out in […]
At The Bourse
The Colombo bourse reacted positively to deals in the insurance market and increasing tourist arrivals over the last week.Shares in Commercial Bank and DFCC climbed on news that the two were planning a joint bid for a majority stake in Eagle Insurance.The All Share closed at 820.4 points up two point six points from last […]
Birds And Bills
A top nature conservation organisation says it is working closely with the private sector to bring the true benefits of eco-tourism to the conservation efforts in the country.The Field Ornithological Group of Sri Lanka (FOG), which is an affiliate of Birdlife International, says true eco-tourism is not just a bunch of tourists going on a […]
Eagle Eye
Commercial Bank and DFCC plan to put in a strong bid for a majority stake in Eagle Insurance after losing a battle to get control of SLIC.Zurich Financial Services together with NDB, holds a majority stake in the company.rn rnHowever, Zurich announced its intentions of exiting the local market, after the company hit a bad […]
Tourist Guide
The tourism sector is high on the list of investment possibilities of a visiting International Finance Corporation team. IFC is the private sector investment arm of the World Bank.To date it has an exposure of over US$ 100 mn, mainly in financial markets and infrastructure projects in Sri Lanka.rn rnOf the total, almost 30 percent […]
Building Blocks
The International Finance Corp. (IFC) is looking at further investments in Sri Lankas housing market, as part of its future investment strategy.rnrnrnrnrnrnrnNew Page 1rnrnrnrnrn IFC currently has a 15rnpercent stake in NDB Housing, a joint venture between the National DevelopmentrnBank and Housing Development & Finance Corp. of India.rn ldblquote We have been asked by therngovernment […]
Safe Hands
The DFCC-Commercial Bank consortium plan to hold their stakes in Eagle Insurance through a holding company, in the event their bid succeeds.Both banks put a joint bid for Eagle Insurance, after its parent company, Zurich Financial Services (ZFS) said it was pulling out of Sri Lanka. rn rnldblquote If we get it, we are looking […]
Two on DEXs
Two parties have responded to the Colombo Stock Exchanges call to admit trading members to its new debt trading, the DEX.CSEs Senior Manager Marketing, Rajeeva Bandaranayake says over 20 firms picked up the prospectus, when the earlier deadline ended on April 30.rn rnldblquote We have decided to extend the deadline by another month, as some […]