Category: Industry
Sweet Dreams
Fulfilling the dreams and aspirations you have for your child becomes a reality with Arshirvada Child Life Plan launched recently by Life Insurance Corporation (Lanka) Ltd.Arshirvada provides financial security for your childrens education and marriage with yearly bonuses and gains to secure their future.rn rnR Gopinath, CEO of LIC Lanka Ltd. says that this policy […]
Tax Treat
A Sri Lanka-US taxation treaty kicked in on Monday, harmonising joint tax laws and allowing for tax credit and concessions for investors in both countries. Representatives of both governments exchanged Instruments of Ratification for the Convention of Avoidance of Double Taxation and Prevention of Fiscal Evasion, on Monday.rn rnThe proposed Treaty will relieve Double Taxation […]
Eden Resort revamps for summer.
Eden Resorts will pitch itself up-market this summer, opening its doors to niche travellers from mainly Europe, Japan and South Asia.Eden Resorts will pitch itself up-market this summer, opening its doors to niche travellers from mainly Europe, Japan and South Asia. The company put in Rs. 150 mn to revamp the 158 room luxury hotel […]
Putting It Up
The Ceylon Electricity Board is looking at ways of controlling Sri Lanka’s unruly street lamps that show disturbing tendencies of behaving like local politicians.The Ceylon Electricity Board is looking at ways of controlling Sri Lanka’s unruly street lamps that show disturbing tendencies of behaving like local politicians. Sri Lanka’s political culture is rubbing off even […]
Back To Front
The company, which handles back office work for large insurance firms like Norwich Union of UK and British Airways, is looking at an initial investment of around US$ 2 million. rn rnDespite some concerns over security, officials said that they would still go ahead as planned. rn rnThe first batch of recruits hired by the […]
Road Aid
The ADB will provide emergency aid to the tune of US$ 12.5mn to resuscitate southern roads drowned in floods.ldblquote ADB will provide emergency assistance amounting to US$12.5 million to help rehabilitate transport infrastructure damaged during severe flooding in southern Sri Lanka in May 2003, dblquote said a press release from the ADB on Friday. rnThe […]
Negotiable Brokering
A proposal to reduce transaction fees for equity investments is now being debated among regulators and stockbrokers. SEC Director General Palitha Silva Gunawardene has long been an advocate for negotiable brokerage.He says high transaction costs are among the many factors that keeps investors away from playing in the market.rn rnThe Colombo Stockbrokers Association is now […]
Debt Raising
Senkadagala Finance plans to shortly tap the market to raise up to Rs. 500 mn in debt to feed its growing leasing portfolio. The firms Managing Director Lakshman Balasuriya says the debenture will be listed, though the tenure and price have not been finalised yet.rn rnSenkadagalas unsecured senior debt was upgraded to BBB+ (sri) rating […]
Indian Bedfellow
John Keells Hotels will take its first steps into India, scouting for prospects in joint hotel and resort management in the neighbouring country.rnrn“We have been flirting with India and have been looking at it for the hotel sector for the past couple of years, even previously looking at beach properties in Goa,” Managing Director John […]
Listing Rules
The securities watchdog will shortly include fresh guidelines to the ongoing listing rules to facilitate close ended unit trust. The move comes after the Securities & Exchange Commission (SEC) unveiled a new code for mutual funds which included issuing licenses for close ended unit trusts.rn rnA close-ended fund or scheme has a stipulated maturity period […]
Holiday Exchange
RCI, a vacation ownership exchange is setting up shop here to promote the island as a holiday destination to its membership.The exchange allows members to trade their pre-booked holiday retreats or time-share holidays in an RCI affiliated resort for a week or more in other affiliated facilities around the world. rn rnRCI says it has […]
Short Haul
International tourist traffic could dip to 900 mn tourists from earlier targets of 1 bn in 2010, as global events radically alter the dynamics of future travel.rnrn Travel dictated by global terrorism, disease and weak economies have cut back on long haul travel with as much as 80 percent visiting lquote close-to-home.rn rn”About 80 percent […]