Category: Industry
Ceylon Index
A new index fund hopes to capture the gains of Asia’s best performing bourse, with a top ten stock index that accounts for over half of market capitalisation in the local exchange.A new index fund hopes to capture the gains of Asia’s best performing bourse, with a top ten stock index that accounts for over […]
Right On
Merchant Bank of Sri Lanka posted a 74 percent rise in its net profits at Rs 136.4 million for the first nine months of 2005.Merchant Bank of Sri Lanka posted a 74 percent rise in its net profits at Rs 136.4 million for the first nine months of 2005. Close to half the nine months […]
Sniper Fire
Commercial Bank of Ceylon Ltd.’s Chairman has sought regulators blessings to ask DFCC Bank reduce its stakes in the former to be within limits allowed under the present Banking Act.Commercial Bank of Ceylon Ltd.’s Chairman has sought regulators blessings to ask DFCC Bank reduce its stakes in the former to be within limits allowed under […]
Bills Online
Ceylinco Group Chairman Lalith Kotelawala on Friday appealed to the Central Bank to loosen its grip on the banking sectors’ expansion plans.Ceylinco Group Chairman Lalith Kotelawala on Friday appealed to the Central Bank to loosen its grip on the banking sectors’ expansion plans. Kotelawala said the requirement for Central Bank approval for every new branch […]
Re-Audit
The government says it will make legal changes to give more teeth to the Auditor General.The government says it will make legal changes to give more teeth to the Auditor General. The government this week, approved a proposal to restructure the Auditor General’s Department, giving it greater administrative and financial independence. A government official on […]
Sailing South
The government this week signed over a US$ 87 million tender to a Chinese firm to build the proposed Hambantota tank farm and bunkering facility. The government this week signed over a US$ 87 million tender to a Chinese firm to build the proposed Hambantota tank farm and bunkering facility. Project officials at the Shipping […]
Full House
State housing finance giant HDFC Bank’s maiden share issue has been oversubscribed on its opening day, a statement to the Stock Exchange said. State housing finance giant HDFC Bank’s maiden share issue has been oversubscribed on its opening day, a statement to the Stock Exchange said. Mangers to the issue Merchant Bank of Sri Lanka […]
New Accounts
People’s Bank will receive the first Rs.2 billion traunche of the ADB sponsored recapitalization programme later in October, as it fulfills its initial set of targets.People’s Bank will receive the first Rs. 2 billion traunche of the ADB sponsored recapitalization programme later in October, as it fulfills its initial set of targets. A total Rs. […]
Facilities Base
Global ICT sector giants including Microsoft, HP and IBM on Tuesday said they will give cash grants, computer equipment and software to four NGOs to disseminate ICT awareness in underserved communities.Global ICT sector giants including Microsoft, HP and IBM on Tuesday said they will give cash grants, computer equipment and software to four NGOs to […]
Play Fair
Fixed line operators say the government should review the current situation in the telco market before dishing out new licenses. Fixed line operators say the government should review the current situation in the telco market before dishing out new licenses. The two wireless local loop operators Suntel and Lanka Bell claim to have already connected […]
Dear Denmark
Denmark on Tuesday said it would defer some Rs.80 million (approx US$ 800,000) in bilateral loans to Sri Lanka for one year, in a follow up to an agreement with donors in June this year.Denmark on Tuesday said it would defer some Rs. 80 million (approx US$ 800,000) in bilateral loans to Sri Lanka for […]
Give as I Command
Lanka’s top bureaucrat has told aid donors to coordinate their lending despite Sri Lanka not having a poverty reduction strategy that allows the state to spend donor money where it wants.Lanka’s top bureaucrat has told aid donors to coordinate their lending despite Sri Lanka not having a poverty reduction strategy that allows the state to […]