Category: Industry
Road Blocks
The ADB is to help package road development into a shelf of projects complete with backward clearances in place, making it easier for investors to step in. A US$ 15 mn Asian Development Bank technical assistance grant is in the works to change over from ad-hoc development to a more planned project lending process.rn rnldblquote […]
Foreign Call
The investment bank picked for the job will initiate the book building exercise for the funds rising, while the telco giant obtains State approval for its expansion plans that include using wireless technologies to connect rural areas.rn rnSLT say it has not finalised its borrowing options, but could settle for a bond issue or a […]
Return Ticket
The new government will continue with plans to put in place a Tourism Development Bill and restructure the Tourist Board on priority basis this year.Mooted last year under UNF rule, the proposed Bill will create a new Tourism Promotional Authority to take over marketing and promotional functions from the Tourist Board.rn rnThe Tourist Board is […]
Jumping High
Dubai based Emirates Airline said its net profit rose 73.5 percent to US$ 429 mn, while revenues grew 37 percent to US$ 3.6 bn for the financial year ending March 31, 2004.SriLankan Airlines key strategic partner also said they carried 10.4 mn passengers endash 23 percent more than the previous year.rn rnThe total profits of […]
Under Scrutiny
Accounting experts say local companies should invest more in voluntary social and environmental reporting, since indifference could be costly. It is cheaper for companies to clean up their act and behave in a socially and environmentally responsible fashion now, than wait for the government to enforce regulations, say experts.rn rnldblquote The (international) markets will soon […]
Big Buy
NDB picked up a further 20 per cent stake in NDB Bank, following up on Fridays 37 per cent acquisition. Mondays buy increases NDBs stake in the commercial banking venture close to 80 per cent.rn rnMarket sources confirmed that the stake moved at Rs. 31 per share, on par with the price paid by NDB […]
Avrudu Bash
Commercial Banks ATMs dispensed a staggering Rs. 625 million over the five-day lquote Avurudu weekend in April, the Bank said this week.Commercial Banks Deputy General Manager endash Personal Banking Ravi Dias said nearly 151,000 cash withdrawals were made during this period and due to heavy usage most ATMs had to be reloaded with cash several […]
New Deputy At Central Bank
Dr. Ranee Jayamaha succeeded Mr. P.M.Nagahawatte, Deputy Governor who retired from the Central Bank on April 18, 2004.This is the first time a lady has been appointed to hold this position of the Bank.Dr. Jayamaha has been in the Bank for 32 years with wide experience in the Economic Research Department, Banking Development Department and […]
Commercial Buy
National Development Bank (NDB) picked up a 29 per cent stake in its associate company NDB Bank (NBL), as part of its strategy to merge with the commercial banking entity.Fridays acquisition effectively takes NDBs stake in the commercial banking operation to 51.5 per cent and above the 30 per cent takeovers and mergers code threshold.rn […]
Teaching Teachers
Investment in teacher training in Sri Lanka is paying off with signs of improvement in both teaching and learning, says the German Technical Cooperation (GTZ) office.Recent studies show that over 70 per cent of primary school teachers in the Central Province now use learner centred teaching compared to 11.6 per cent 3 years ago.rn rnThe […]
Working Out
A change in the US political scene could result in Sri Lanka losing out on foreign investment that comes in as outsourcing projects like call centers.In-house politics are bad enough but trade analysts now caution that politics across the Atlantic could be just as painful, thanks to the spotlight catching the subject of outsourcing.rn rnldblquote […]
Local Bound
Local inbound travel operators will have yet another travel distribution system at their disposal to help increase tourist arrivals to a record 600,000 visitors this year. The Galaxy global travel distribution system gives wholesale-priced hotel rooms and transfers to retail travel agents and other travel professionals worldwide, enabling them to immediately access, book, confirm and […]