Category: Industry
Indian Rumba
Merchant Bank of Sri Lanka is believed to be in serious talks with India’s SBI Capital Markets Ltd to expand its corporate banking activity.Merchant Bank of Sri Lanka is believed to be in serious talks with India’s SBI Capital Markets Ltd to expand its corporate banking activity. MBSL has been on a roll over the […]
Oil Troubles
Volatile global oil prices could force the government into a funding squeeze in months, as it tries to pay a growing import bill while refusing to raise local prices.Volatile global oil prices could force the government into a funding squeeze in months, as it tries to pay a growing import bill while refusing to raise […]
Call Waiting
The ICT Agency on Friday said it has suspended its regional telecom network licensing process as per Tuesday’s court injunction taken out by the seven network operators.The ICT Agency on Friday said it has suspended its regional telecom network licensing process as per Tuesday’s court injunction taken out by the seven network operators. Network operators […]
Aid Report
Sri Lanka has received a total of Rs.9.8 bn (Rs. 9812.5 mn) in tsunami aid as at March 10, from governments, non-state agencies and others as private, foreign and local donations, the Central Bank said.Sri Lanka has received a total of Rs. 9.8 bn (Rs. 9812.5 mn) in tsunami aid as at March 10, from […]
Switching Places
Consumer goods retailer Singer (Sri Lanka) Ltd plans to switch some of its expensive short-term debt with a Rs.400 mn four-year debenture issue in April.As at end 2004, Singer’s long-term debt stock stood at Rs. 1.3 bn, but the company is keen to lock in inexpensive funds taking advantage of present low interest rates. Short […]
Going Steady
The Central Bank on Wednesday said it will actively absorb liquidity from the financial markets to curb inflation in the coming months.The Central Bank on Wednesday said it will actively absorb liquidity from the financial markets to curb inflation in the coming months. The bank however left its key short term interest rate unchanged for […]
Wrong Doing
The Asian Human Rights Commission (AHRC) is urging the government to come up with alternatives for tsunami victims living in increasingly unbearable conditions in temporary shelters. The Asian Human Rights Commission (AHRC) is urging the government to come up with alternatives for tsunami victims living in increasingly unbearable conditions in temporary shelters. The Hong Kong […]
UK based Global Towers opens its flagship hotel on the coast, but says buffer zone could hold up Rs. 1.5 bn in new investment.
UK based entrepreneurs Global Lanka Holdings opened its flagship hotel in the heart of the city, but says the new 100 m buffer zone could hold up Rs.1.5 bn in future investment. UK based entrepreneurs Global Lanka Holdings opened its flagship hotel in the heart of the city, but says the new 100 m buffer […]
Hot Line
Sri Lanka’s seven telecom operators took a Supreme Court injunction against the ICT Agency on Tuesday, halting a rural telecom network licensing process.Sri Lanka’s seven telecom operators took a Supreme Court injunction against the ICT Agency on Tuesday, halting a rural telecom network licensing process. The ICT Agency is currently taking in applications to pre-qualify […]
Sick Note
Part of the postal department is planning a midnight sick-note campaign, opposing graduate appointments and privatization of 109 communication locales – the government’s idea of a modern post office.Part of the postal department is planning a midnight sick-note campaign, opposing graduate appointments and privatization of 109 communication locales – the government’s idea of a modern […]
Tourist arrivals in Feb slump 16 percent over last year, though emerging markets grow.
Tourist arrivals in February saw a 16 percent slump over last year at 36,000, as visiting relief workers go home and holiday makers’ trickle back.Tourist arrivals in February saw a 16 percent slump over last year at 36,000, as visiting relief workers go home and holiday makers’ trickle back. India continued to drive the numbers […]
Turn Off
Sri Lanka’s nine provincial councils will raise business turnover tax from one percent to five percent on “non-essential” commodities from April 1 to bolster their own revenue.Sri Lanka’s nine provincial councils will raise business turnover tax from one percent to five percent on “non-essential” commodities from April 1 to bolster their own revenue. The list […]