Category: Industry
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 […]
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 […]
Lost Crown
Conglomerate John Keells Holdings (JKH) regained its triple A status following two-year break, after clocking in impressive earnings and boosting its share capital.Conglomerate John Keells Holdings (JKH) regained its triple A status following two-year break, after clocking in impressive earnings and boosting its share capital. The premier bluechip has diversified interest in tourism, real estate, […]
Weakest Link
The Railway Department will begin overhauling 100 km of the islands dilapidated rail track this month at a cost of over Rs 374 mn.The Railway Department will begin overhauling 100 km of the islands dilapidated rail track this month at a cost of over Rs 374 mn. “We have already started transporting concrete sleepers to […]
Joint Forces
India’s energy sector currently going through an overhaul might see state owned Bharat Petroleum merge with Indian Oil Corp., with repercussions for Sri Lanka. India’s energy sector currently going through an overhaul might see state owned Bharat Petroleum merge with Indian Oil Corp., with repercussions for Sri Lanka. Indian news wires on Thursday said that […]
Perfect Pitch
The Hayleys Group plans to acquire a few more ships in the coming months as it sees opportunities to expand its transport unit.The Hayleys Group plans to acquire a few more ships in the coming months as it sees opportunities to expand its transport unit. Hayleys, one of Sri Lanka’s largest conglomerates, has interests in […]
Prime Cut
Commercial Bank of Ceylon has raised US$ 35 mn through a syndicated loan arranged by Standard Chartered Bank Colombo at slightly lower rate than the Sri Lankan government.Commercial Bank of Ceylon has raised US$ 35 mn through a syndicated loan arranged by Standard Chartered Bank Colombo at slightly lower rate than the Sri Lankan government. […]
Building Trust
Edirisinghe Trust Investments an EAP Group company relaunched its services Wednesday, venturing into the leasing business.Edirisinghe Trust Investments an EAP Group company relaunched its services Wednesday, venturing into the leasing business. ETI, a strong player in the pawning business for over 35 years, said its leasing business was only the beginning of its stride into […]
Great Expectations
Finance Minister Dr. Sarath Amunugama said Tuesday that the public sector would be ‘expanded’ as needed, to take up 41,000 unemployed graduates who were promised jobs.Finance Minister Dr. Sarath Amunugama said Tuesday that the public sector would be ‘expanded’ as needed, to take up 41,000 unemployed graduates who were promised jobs. The state is dishing […]
Asking Price
SriLankan Airlines says it will need a fuel surcharge of about US$ 5 on a one-way ticket if it is to cover fuel costs soaring through the roof. SriLankan Airlines says it will need a fuel surcharge of about US$ 5 on a one-way ticket if it is to cover fuel costs soaring through the […]