Author: lbostgadmin
Penultimate Lap
The government is expected to dispose 20 percent of its ownership held in Commercial Bank through Sri Lanka Insurance Corp. by end next week.Treasury approval has come through for Commercial Bank to buy back 5 percent and the International Finance Corp.s to take up 15 percent of this parcel at Rs. 165 per share.rn rnSEC […]
Rough Times
The Central Bank has issued a draft guideline to allow primary dealers to transact in derivative instruments.The guidelines include limits for credit risks and capital adequacy exposures.rn rnThe move comes as market players met on Tuesday to try and activate the local derivative market.rn rnParticipants at a seminar organised by the Primary Dealers Association lamented […]
New Wicket
The Asia Capital Group on Monday disposed its shareholding in its associated company, Capital Alliance Ltd., for Rs. 36 mn.Capital Alliance which specialises in debt market transactions, secured a primary dealer licence last November.rn rnTwo years ago, Asia Capital floated the debt market operation taking up a 20 percent stake for Rs. 20 mn. rn […]
Ver. 2.0
The telecom regulator is wooing a fresh batch of consultants to come up with a new cost based interconnection framework.Applications for the post closed Sunday, with requests for extension of the deadline, which the regulator is now considering. rn rnThe new study will consider interconnection rates under a caller party pays regime, studying international models […]
Educating The Unemployed
The World Bank has decided to lend US$ 60 mn towards revamping university education and creating jobs for unemployed graduates.Around US$ 50 mn will be channelled on restructuring university curriculum to gear it towards more market base courses.The balance funds will be lent to the government sponsored, but private sector run graduate unemployment programme endash […]
Talk Shop
An International Labour Organisation study has found the Tharuna Aruna scheme for unemployed graduates highly dysfunctional and run like a Rotary Club.Around Rs. 165 mn has gone into the scheme, but only 600 graduates have found permanent work over a five-year period, notes ESP Consult, the authors of the report on behalf of the ILO. […]
Reverse Gear
Sri Lankas 13 bus companies may continue under state control for longer, as attempts to bring in private management steers off course. Industry watchers say plans for a state lead restructuring programme were being touted as a contingency measure in case the Sri Lankan government fails to seal any deals.rn rnIf the state takes up […]
SWAP Talk
The Primary Dealers Association is meeting industry experts on Tue. to discuss ways to promote interest rates swaps and forward rate agreements.Talks by resource personnel invited by the association will centre on International Swap Dealers Association master agreement, taxation, accounting and documentation issues that prevent these two derivative instruments from flourishing.rn rnThe three-hour brainstorming session […]
Last Chance
The government and the World Bank will sit together for a final round of talks soon to finalise a big budgetary finance loan.The third meeting will be the last between the two parties before a proposal is put before the World Bank board in May.rn rnIf a final deal is struck at the meeting the […]
Green Light
The government announced final tariffs international gateway operators will have to pay local networks to terminate traffic.Under the agreement operators have agreed to a formula where by the fixed charge will decline rapidly over the next five years.rn rnAfter extensive talks the operators have also given written assurances to the government not to tie up […]
Home Grown
An Increasing number of software companies are now developing and marketing software aimed entirely at the local market.Earlier they were trying making inroads to the international market. But making it big internationally hasnt been easy especially in a market recovering from an IT slump.rn rnThey mostly target first time buyers of computer software with packages […]
Tea Party
Key stakeholders in the tea industry got together last week to form a pan industry apex body. The tea association of Sri Lanka plans to provide a singe point of view from the industry to policy makers in the future.” Before this association came whenever a problem arose we had to speak to several associations […]