Category: Industry
One Down
The District Court vacated one of the three injunctions issued against the ICT Agency’s rural telecom licensing process Tuesday.The District Court vacated one of the three injunctions issued against the ICT Agency’s rural telecom licensing process Tuesday. The country’s seven network operators took the caretakers of the government’s eSri Lanka initiative to courts over the […]
Slippery Deals
The government is in the final stages of negotiation with a US based company interested in building a new oil refinery adjoining the one it operates on the outskirts of the capital.The government is in the final stages of negotiation with a US based company interested in building a new oil refinery adjoining the one […]
Punters’ Day
Analysts expect a market correction in the coming weeks after the galloping Colombo bourse hit an all time high on Friday. Analysts expect a market correction in the coming weeks after the galloping Colombo bourse hit an all time high on Friday. The rally was sustained by medium capitalized stocks that were snatched up by […]
Rate Card
Sri Lanka has only one active rating agency, and a few dozen ratings. India has nearly 1400 ratings and four agencies. In our Q and A this week, the Money Report speaks to Amit Tandon, Head of Fitch Ratings in India. Sri Lanka has only one active rating agency, and a few dozen ratings. India […]
Seylan’s Heart Ache
Closely held Seylan Bank and its subsidiaries saw profits shrink last year but its CEO says aggressive management of its loan book should produce a better performance this year.Closely held Seylan Bank and its subsidiaries saw profits shrink last year but its CEO says aggressive management of its loan book should produce a better performance […]
Digging Deeper
Commercial Bank of Ceylon is delving deeper into the local corporate debt market by offering to subscribe, hold and sell competitively priced paper above conventional savings products.Commercial Bank of Ceylon is delving deeper into the local corporate debt market by offering to subscribe, hold and sell competitively priced paper above conventional savings products. Having structured […]
Getting Off
Plans to lay off half the State owned bus workers got the Cabinet nod while analysts expect donors will fund the move.Plans to lay off half the State owned bus workers got the Cabinet nod while analysts expect donors will fund the move. The Central Transport Board (SLCTB) and the cluster bus companies employ a […]
Partial Blackouts
Engineers of the striking state monopoly power supplier the Ceylon Electricity Board are threatening to pull out base load thermal plants including AES Kelanitissa off the grid shortly, resulting in rotating blackouts around the island.Engineers of the striking state monopoly power supplier the Ceylon Electricity Board are threatening to pull out base load thermal plants […]
Giving Up
Bowing down to trade unions, the government has said it will not ratify a Cabinet paper to restructure the loss making Ceylon Electricity Board, and will re-draw the reform plan.Bowing down to trade unions, the government has said it will not ratify a Cabinet paper to restructure the loss making Ceylon Electricity Board, and will […]
Backdoor Move
Ceylon Electricity Board unions staged a walkout on Friday protesting against a Cabinet paper passed two days ago, they say was shoved through the backdoor.Ceylon Electricity Board unions staged a walkout on Friday protesting against a Cabinet paper passed two days ago, they say was shoved through the backdoor. The Cabinet on Wednesday evening passed […]
Plugging Leaks
Ceypetco is pinning hopes on extended supplier credit from Malaysia and formula adjusted prices to plug a Rs.5.5 bn hole in the first 4 months this year.Ceypetco is pinning hopes on extended supplier credit from Malaysia and formula adjusted prices to plug a Rs. 5.5 bn hole in the first 4 months this year. The […]
Backfired
Largely JVP led unions refuse to consider an alternate reform model for the loss making Electricity Board, rejecting the new Cabinet paper that was passed on Wednesday.Largely JVP led unions refuse to consider an alternate reform model for the loss making Electricity Board, rejecting the new Cabinet paper that was passed on Wednesday. The now […]