Category: Industry
Crew Cut
The Asian Development Bank (ADB) will divert US$ 100 million of a US$ 570 aid package approved for Sri Lanka, to construct a breakwater in the proposed Colombo South Harbor.The Asian Development Bank (ADB) will divert US$ 100 million of a US$ 570 aid package approved for Sri Lanka, to construct a breakwater in the […]
Price Surge
SriLankan Airlines is raising fares by five percent from October 1, as twin effects of a falling rupee and rising oil prices chips away profits. SriLankan Airlines is raising fares by five percent from October 1, as twin effects of a falling rupee and rising oil prices chips away profits. The national carrier got Civil […]
Profits Evaporated
Local gas consumption is expected to slide further following recent price hikes, but market mover, Shell, says it is still loosing millions of rupees each day. Local gas consumption is expected to slide further following recent price hikes, but market mover, Shell, says it is still loosing millions of rupees each day. Shell Gas Lanka […]
Service Concerto
DMS Electronics Limited, on Tuesday said it would retail US based Concerto Software Inc.’s contact centre solution here. DMS Electronics Limited, on Tuesday said it would retail US based Concerto Software Inc.’s contact centre solution here. The range of contact centre products offer companies the option to offer multiple channels of communication to their clients […]
HNB woos
Hatton National Bank says its shares are under-priced by the market.Hatton National Bank says its shares are under-priced by the market. This week it called an analysts conference to show that its shares are worth more than the levels reflected in the current prices. This has led to speculation that the bank could be heading […]
PB to get a Convertible
People’s Bank is likely to get a government capital injection via a convertible bond issue.People’s Bank is likely to get a government capital injection via a convertible bond issue. With private capital ruled out due to the policy of the current government, the Strategic Enterprise Management Agency (SEMA) has to look for other means to […]
Gotcha!
The Department of Exchange control has imposed heavy penalties on violators of exchange control regulations.The Department of Exchange control has imposed heavy penalties on violators of exchange control regulations. The persons are believed to have helped send dollar abroad for third parties to participate in the controversial Gold Quest network marketing scheme. The highest fine […]
Gold for the Old
Mutual fund industry is re-submitting a proposal to government for investor tax breaks to set up retirement savings plans here. Mutual fund industry is re-submitting a proposal to government for investor tax breaks to set up retirement savings plans here. The proposal is also backed by the securities regulator, the SEC. Industry wants the government […]
Dangerous Columns
Reporting a company’s financial performance is facing new challenges as investors demand more information about how the business is likely to perform in the future. Reporting a company’s financial performance is facing new challenges as investors demand more information about how the business is likely to perform in the future. Traditional accounting mostly looks at […]
Energy Costs
The government is trying to sell its watered down electricity sector reform plans to lending agencies and top up sector funds this month. The government is trying to sell its watered down electricity sector reform plans to lending agencies and top up sector funds this month. “The government will meet with the ADB and JBIC […]
Spiriting Cash
Telecom operators are concerned that money meant to finance rural connectivity channeled to the cash strapped Treasury as a temporary measure, will not be available for the industry when the legal framework is ready.Telecom operators are concerned that money meant to finance rural connectivity channeled to the cash strapped Treasury as a temporary measure, will […]
Quick Drip
Forty two year old leasing specialist Industrial Finance Ltd is coming out with a rights issue to up capital.Forty two year old leasing specialist Industrial Finance Ltd is coming out with a rights issue to up capital. The privately held company’s core capital stands at Rs.40 mn – just Rs. 10 mn short of Central […]