Category: Industry
Lending for SriLankan
A consortium of local banks sealed a deal with SriLankan Airlines for a full dollar loan of US$ 22.5 million this week. A consortium of local banks sealed a deal with SriLankan Airlines for a full dollar loan of US$ 22.5 million this week. The syndicate loan arranged by Commercial Bank priced at LIBOR +2.35 […]
Poor Performance
Small enterprises are struggling to expand business and inject new investment to rural economies because credit is too expensive and not easily accessible.Small enterprises are struggling to expand business and inject new investment to rural economies because credit is too expensive and not easily accessible. Unable to compete with bigger firms with secure collateral, they […]
Off the Track
The government this week agreed to acquire fifteen new diesel engines and 100 coaches to help improve the Railway Authority’s commuter service.The government this week agreed to acquire fifteen new diesel engines and 100 coaches to help improve the Railway Authority’s commuter service. A government spokesperson on Thursday said the cabinet approved the deal as […]
Level Ground
The District Court on Friday vacated an interim injunction against the ICTA, but the agency is still bounded by an injunction by the Appeals Court.The District Court on Friday vacated an interim injunction against the ICTA, but the agency is still bounded by an injunction by the Appeals Court. The Appeal Court at a June […]
US gives US$ 20,000 to restore Matara monuments
The United States will spend US$ 20,000 to restore historical sites in Galle and Matara, including the Dutch Fort that took a beating from last December’s tidal waves.The United States will spend US$ 20,000 to restore historical sites in Galle and Matara, including the Dutch Fort that took a beating from last December’s tidal waves. […]
German Help
Germany has extended two loans worth 20 million euros each to Sri Lanka to be utilized for long-term investments by private sector companies, the Finance Ministry said Thursday.Germany has extended two loans worth 20 million euros each to Sri Lanka to be utilized for long-term investments by private sector companies, the Finance Ministry said Thursday. […]
On A Platter
SriLankan Catering, a subsidiary of SriLankan Airlines on Thursday inked a deal to borrow US$ 22.5 million from a consortium of local banks to build a new flight kitchen, officials said.SriLankan Catering, a subsidiary of SriLankan Airlines on Thursday inked a deal to borrow US$ 22.5 million from a consortium of local banks to build […]
Flight Trouble
SriLankan Airlines will jack up ticket prices by US$ 20 to key destinations from July 15, as soaring fuel prices threaten to set its balance sheet on fire.SriLankan Airlines will jack up ticket prices by US$ 20 to key destinations from July 15, as soaring fuel prices threaten to set its balance sheet on fire. […]
Reserve Power
The Asian Development Bank (ADB) has agreed to extend a deadline on its US$ 30 mn loan to the power sector by six months, even as unions relent on a new reform plan.The Asian Development Bank (ADB) has agreed to extend a deadline on its US$ 30 mn loan to the power sector by six […]
Fresh Draft
The Asian Development Bank (ADB) has said it will review the Southern highway project by end this year, to tackle environmental and re-settlement complaints.The Asian Development Bank (ADB) has said it will review the Southern highway project by end this year, to tackle environmental and re-settlement complaints. In a statement issued on Wednesday, the Manila […]
Hubbub for Sri Lanka’s financial hub
Sri Lanka’s main financial centre near the president’s official residence was declared a high security zone as the opposition today led an unprecedented march to the capital demanding early elections.Sri Lanka’s main financial centre near the president’s official residence was declared a high security zone as the opposition today led an unprecedented march to the […]
Phew!!!
Apparels exported to the European Union got duty free access from this month but the industry doesn’t expect an immediate spike in volumes due to other bottlenecks. Apparels exported to the European Union got duty free access from this month but the industry doesn’t expect an immediate spike in volumes due to other bottlenecks. The […]