Author: lbostgadmin
Jaya Spun Off
The new company will be known as Jaya Container Terminals Ltd and will be managed by a board of nine directors appointed by the Shipping Minister. rnrnAccording to shipping analysts, Jaya Terminal would stand to lose large volumes of container handling to the private sector managed South Asia Gateway Terminal (SAGT), if it continued under […]
Petty Cash
Finance Minister K N Choksy said around Rs. 29.7 bn were needed for a month starting from March 19, until the budget debate is concluded. rnrnHe estimated government revenue during the one-month period to be Rs. 18.8 bn. Additional funds, he said could be met under a special Loans Act. rnrnThe annual November budget has […]
Battle Front
The current labour legislation, which is considered to be archaic by donor agencies and investor community, prevents flexible employment policies being adopted by investors.These laws are also identified as a major competitive disadvantage for Sri Lanka when compared with more de-regulated labour markets in South East Asia. rnrnldblquote Labour reforms are vital since the private […]
Southern Roar
Rajapaksa was better known for his loyalty towards Sri Lanka Freedom Party, the key constituent party of PA, which his father helped to form, than his loyalty towards the President. rnrnDuring his stint as the Labour Minister in the PA government he introduced the controversial Labour Charter, which earned him the wrath of business community. […]
Swapping For More
The swap would hedge the Horana plant quote s interest rate risk, by converting its US$ 10.8 mn floating rate, which is pegged to the three months London Inter Bank Offered Rate debt into a fixed rate. rnrnAitken Spence opted for the move, after US dollar interest rates reached historic lows following the US economic […]
Tussel For Bunkering
The announcement was expected today but has now been shelved for the weekend. rnFully owned by Ceylon Petroleum Corp, LMS has bonded warehouses at the Colombo port. rnThe Public Enterprise Reform Commission (PERC) is expected to dispose LMS quote s controlling stake, which can even go up to 90 percent. rnrnAround 15 companies including top […]
Catching Up
ldblquote We are re-visiting our original strategic plan, taking in to account the experiences gained during the last two years dblquote , JKH Director Ajit Gunawardene told Lanka Business Online. rnrnldblquote There will be no major changes to the overall strategic direction dblquote , he said. NTB will continue to focus on gaining competitive advantage […]
Beware
Amendments to the Companies quote Act would focus on enhancing minority shareholders rights and disclosing directors quote duties, he added. rnrnCommenting on the impending maiden budget of the government, Pieris said budget will be presented in third week of March, followed by a shorter than usual Parliamentary debate in order to approve the provisions by […]
Multiplying
The Central Bank plans to expand the number of primary dealers dealing exclusively in government debt.rn rnNewcomers will be on par with existing primary dealers, having exclusive access to bid at the primary auctions. rnrnNew players have to set aside a minimum capital of Rs. 150 mn and have competent dealers, Central Bank Governor, A […]
Red Tape Tax
The survey selected 200 medium and large-scale businesses operating in Colombo and Kurunagela to identify major regulatory impediments affecting economic development in the country. rnrnAccording to the survey, a business loan on average takes 56 days to process and nearly 2 percent of the loan value is spent fulfilling the regulatory requirements of the loan. […]
Soft Hopes
A Microsoft spokesperson said they hoped that greater awareness would encourage computer users to consider purchasing original software.rn rnIn addition they feel that when companies like Microsoft take an interest in growing markets like Sri Lanka, it highlights the importance and advantages of using original software. rn rnldblquote Price would definitely be a factor and […]
Changing The Basket
Out with the old and on with the new, Sri Lanka quote s decades old consumer price index has finally lquote hit the basket quote , giving way for revamped lquote Sri Lanka Consumer Price Index quote (SLCPI).