Author: lbostgadmin
Extended Debt
Superintendent Public Debt, Dharma Dheerasinghe told journalists that the bank hopes to offer around Rs.5 bn at the initial issue. rnrnThe issue is targeted at captive sources like pension, EPF, ETF and insurance funds. rnrnThe 12-year issue will carry yearly interest rates, unlike the present half yearly rates. ldblquote Our discussions with the captive sources […]
Green Money
Assistant to the Governor, W A Wijewardene says Cabinet approval has been sought to raise the five-year issue, which will form of the government quote s Rs.350 bn borrowing programme. rnThe funds could either via a syndicated loan or a medium term note. The government will also not seek a sovereign rating for the issue. […]
Short Change
Treasury officials say that given the exemptions in the revised bill, initial estimates for the first year will have to be marked down. rnrnA slight drop to Rs. 2 bn is expected, Inland Revenue officials said, but any significant effect of the exemptions is likely to be seen once payment flows start at the end […]
Southern Tip
Tuesday quote s auction saw yields for two, three and four years come under the hammer. rnrnThe bank offered and accepted Rs. 2.000 bn two-year notes carrying a 12.50 percent coupon. The issue was oversubscribed with bids amounting to Rs. 9.350 bn. The weighted average yield slipped 148 basis points to 14.16 percent (with tax). […]
VATquote s The Reason – Updated
Deputy Finance Minister Bandula Gunawardana says the government sector initiative to reduce prices to reflect the zero duty on essential items is intended to set an example for the private sector to follow suite. rn rnMost state institutions that benefit from the zero duty will in effect absorb the 6.5 per cent National Security Levy […]
Play Time
Deputy CEO Sarath Piyaratna says the bank is keen to develop their future customer base and this new initiative would be the first step.rn rnThe bank in recent years introduced a number of target market specific banking services to cater to the spectrum of ages. rn rnServices including the E-Saver endash targeting young adults and […]
CAT Walk
The Commercial Bank of Ceylon has improved its Internet Banking facility with several enhanced features.
Safety Net
A key component of the safety net is an unemployment insurance scheme for laid off workers. rnThis would supplement the compensation given by the restructuring company.rnA compensation formula that has already been announced is to be given legal effect later in the year. rnOfficials say the unemployment insurance may be funded by a one per […]
SLIC Reports Profits
State Insurance giant Sri Lanka Insurance corporation reported a billion rupee profit from on the back of a booming stock market.rn rnThe company suffered a marginal Rs. 2 mn on its core general insurance business. rnrnBut the profits came from a massive write back of provisions for stock market investments. rnrnHigh returns on government debt, […]
Abarthu.Com
Lanka Service Network or lquote JobsNet quote is built around a database of job seekers, employment providers, NGO quote s and training centres. rnrnThese are linked to service outlets set up in each of the country quote s 24 districts that will assist in job placements or access to information in Sinhala, Tamil or English, […]
Rainy Day Funds
This is one of two pieces of legislation that are coming before parliament in the next few weeks, laying the groundwork for an eventual re-haul of the Termination of employment Act. rnrnFemale overtime is a key feature of the Factory Ordinance amendment, which is to be extended to 60 hours a month, as against the […]
Unorthodox Shift
Local factions in the tea industry say the Indian threat was looming for over a year, but officials here had made no effort to plan for competition. Sri Lankan orthodox teas sell at an attractive premium above CTC prices. In addition Sri Lanka dominates the orthodox market controlling well over 75 per cent of supply. […]