Author: lbostgadmin
Victory Circle
Wasted are those sleepless nights, the effort, passion and pain invested. Lost forever. Gone to their final resting place. I shall avenge this death. I will not rest. No pain or suffering will hold me back. For next year I will be back for my SLIM Award. It all ended with the award for agency […]
BDS for SMIs
Experts say quality business development services like training and consultancy could change the way business is done in the island.rn rnldblquote There are many instances in the country where small people were given money but the project they embarked upon became failures because didnt have the know how. It is the expertise that will come […]
Destination Confusion
The government is making plans to capitalise on the upturn in tourism fortunes in the country. A new law is in the pipeline that would see the hands-on involvement of the tourism industry in planning and rolling out a marketing campaign for the country.rn rnThe industry is expecting a record half a million visitors this […]
Cost Cutting
SriLankan Airlines expects to sharply cut its losses during the current financial year but said the group will be in the black.The national carrier said it expects losses of around US$ 10 mn to US$ 15 mn this year, sharply lower than the US$ 60 mn loss recorded during the last financial year.rn rnAs a […]
Open Sesame
The Central Bank will start open market operations for the money market on Monday. The market friendly move will give the Central Bank a new monetary policy instrument to influence short-term rates.Central Bank says market participants will play a greater role in determining over night interest rates under its plan to introduce open market operations.rn […]
Small Mercies
The Central Bank said Friday, that inflation measured by the Colombo Consumer Price Index for February dropped 1.1 percent over January to 3423.1.Central Bank said the availability of food items, mainly of upcountry vegetables, led to a drop in Februarys inflation.rn rnThe CCPI is the official measure of price changes within the Colombo Municipality for […]
Thrills & Spills
Sri Lankas top accounting body gave its budding accountants some tips on how to market themselves in a changing working place.rnAptly titled ldblquote Managing The Rollercoaster, dblquote an engineer, a marketer and three accountants gave a ringside view and tips on how to survive the corporate world of tomorrow.rn rnBank of Ceylons Chairperson, Sumi Moonesinghe […]
Profit Warning
SriLankan Airlines, on Friday made a profit warning for the current financial year, but said group profits will remain steady as the previous year.rnAs a stand-alone entity, SriLankan has never made a profit in its entire history, but the Emirates led management is confident of turning things around for the financial year ending 2003/4.rn rnSriLankan […]
Ringing Loud
Dominant telecom operator Sri Lanka Telecom on Thursday, said its net profits picked up by 28 percent for year ending December 31, 2002.SLTs group net profit ended at Rs.2.69 bn, slightly up against previous years earnings of Rs.2.1 bn in 2001. rn rnRevenues were up 15 percent during the period to Rs. 25.4 bn from […]
Buy Laws
Professional services are in the firing line as everyone, from your doctor, to your lawyer to your stockbroker get roped in under a lquote one size fits all Consumer Affairs Authority Act.The new Act in effect is the old Consumer Protection Act, the Control of Prices Act and the Fair Trading Commission Act all rolled […]
New Line Up
Taking a leaf from developed markets, Central Bank is launching its open market operations for the overnight money market next Monday.Open market operations gives the Central Bank more control over the overnight market.rn rnThe bank controls market activity by influencing the short-term rates at which banks borrow or lend depending on whether they have a […]
Debt Exchange
Maldivian conglomerate Universal Enterprises took a 57.16% stake in Mahaweli Reach Hotel, a deal to settle the Hotels dues to DFCC Bank.A rights issue for the shares in January sought to raise Rs. 269 mn, the outstanding amount from a Rs.305 mn loan taken from DFCC in 1994 for refurbishment. rn rnThe rights issue ups […]