Category: Industry
Dutch Built
Sri Lanka’s northern most port – Kankesanturai will get a 45 million euro makeover courtesy of the Dutch government.Sri Lanka’s northern most port – Kankesanturai will get a 45 million euro makeover courtesy of the Dutch government. Cabinet spokesperson and Health Minister Nimal Siripala de Silva on Wednesday said the Sri Lankan government agreed to […]
Renewable Bonds
The government plans to roll out a “Renewable Energy Support Bond” for Rs.2 billion in 2006 to raise funds supporting rural electrification through renewable energy, Finance Minister Sarath Amunugama said Tuesday.The government plans to roll out a “Renewable Energy Support Bond” for Rs. 2 billion in 2006 to raise funds supporting rural electrification through renewable […]
Coming Together
Ministers of South Asian countries keen to promote tourism met in Colombo after Sri Lanka expressed interest to join the region grouping that was financed by the ADB.Ministers of South Asian countries keen to promote tourism met in Colombo after Sri Lanka expressed interest to join the region grouping that was financed by the ADB. […]
Business As Usual
Commercial Bank will expand its off-shore banking operations outside the country after raising US$ 65 million from international capital markets.Commercial Bank will expand its off-shore banking operations outside the country after raising US$ 65 million from international capital markets. The bank which is already lending actively in the Maldives is looking at other markets like […]
Candy Man
Sri Lanka plans to lean on foreign aid and debt relief to trim its deficit, though Tuesday’s budget will be sugar coated to woo voters in the run up to next week’s keenly contested presidential poll.Sri Lanka plans to lean on foreign aid and debt relief to trim its deficit, though Tuesday’s budget will be […]
Cake Walk
Sri Lanka’s Hatton National Bank said Monday that it posted a 777 percent growth in post tax profits for the three-months to Sept 2005.Sri Lanka’s Hatton National Bank said Monday that it posted a 777 percent growth in post tax profits for the three-months to Sept 2005. Group net profit for the third quarter was […]
Getting More Interesting
If last week’s Extraordinary General Meeting vote of the Commercial Bank went ahead as planned the Chairman Mahendra Amarasuriya might have won considering the Appeal Court had limited the voting power of a group led by Harry Jayawardene to 10 percent from their 42 percent holding.If last week’s Extraordinary General Meeting vote of the Commercial […]
India to replace UK as the number one tourists market
Visiting Indians, who pop over for business and shopping bargains, is likely to replace the United Kingdom as the biggest tourism market for Sri Lanka this year, top officials said Friday. Visiting Indians, who pop over for business and shopping bargains, is likely to replace the United Kingdom as the biggest tourism market for Sri […]
Policy Measures
Sri Lanka’s cabinet of minister gave the go ahead on Thursday to increase the minimum solvency margins for insurance firms to Rs.100 mn for each line of business.Sri Lanka’s cabinet of minister gave the go ahead on Thursday to increase the minimum solvency margins for insurance firms to Rs. 100 mn for each line of […]
Jetwing to build transit hotel at airport
Hotel operator, the Jetwing group got a mandate on Thursday to build a 50 room transit hotel at the Bandaranayke International Airport.Hotel operator, the Jetwing group got a mandate on Thursday to build a 50 room transit hotel at the Bandaranayke International Airport. Cabinet Spokesperson and Health Minister Nimal Siripala de Silva said the Cabinet […]
Que Sera Sera
Sri Lanka’s Commercial Bank of Ceylon’s controversial extraordinary general meeting was abruptly called off late Wednesday, after its unions successfully won a stay order from the Appeals Court.Sri Lanka’s Commercial Bank of Ceylon’s controversial extraordinary general meeting was abruptly called off late Wednesday, after its unions successfully won a stay order from the Appeals Court. […]
Bargain Prices
Riding on the ongoing peace deal, Commercial Bank of Ceylon has raised US$ 65 million via a two-year syndicated loan at rates much lower than the Sri Lankan government.Riding on the ongoing peace deal, Commercial Bank of Ceylon has raised US$ 65 million via a two-year syndicated loan at rates much lower than the Sri […]