Category: Other
At The Bourse
The Colombo bourse reacted positively to deals in the insurance market and increasing tourist arrivals over the last week.Shares in Commercial Bank and DFCC climbed on news that the two were planning a joint bid for a majority stake in Eagle Insurance.The All Share closed at 820.4 points up two point six points from last […]
Consumer Drive
The Central Bank says consumerism contributed significantly to last years economic revival. Economists pointed out that the country is showing the early signs of a consumer demand driven growth.Economists say a fledging peace process created higher than expected demand for goods and services last year.rn rnldblquote In the past we looked at growth only from […]
Lopsided
Ambitious plans for double-digit GDP growth is at the back of the governments mind in a post-war era. More importantly, economic growth must benefit the man on the street. While experts say that GDP growth in the open market era has widened the rich and poor divide, economists point out that while the rich-poor gap […]
Super Profits
Super markets are a big hit in Colombo. Most of them now try to entice the middle-income earners to the concept of everything under one roof from the mom-and-pop corner shops that have been around for decades.rnThe new Elephant House Super Pola is using the concept to grab the average corner store customer.rn rnIt attempts […]
Traditional Markets
Every day for twenty-five years Louisa Nona has been coming to the pavement of the Pettah private bus stand with a load of betel leaves to sell.Often she returns home with more left over betel leaves than she could carry.rn rnThings are different these days.rn rnThis has nothing to do with her appearance but everything […]
Ele House Brew
Brewing through the synergies of John Keells and Elephant House is a ready to drink tea product that could hit the local market in end 2003. Tested and developed under the conglomerates tea marketing arm endash Gordon Frazer & Company, the firm is currently testing its brew, sources close to the firm told Lanka Business […]
Boiling Cup
The banking sector is willing to prop up the tea industry by lending up to Rs.1.25 billion to buy teas unsold at weekly auctions.The bail out plan was put together by the newly formed Tea Association of Sri Lanka (TASL), who has to float a new independent firm to utilise the loan. The new firm […]
Sweet Teas
Buyers set aside developments in the Middle East to step up buying at Tuesdays low grown tea auctions, pushing up prices in the process. Brokers said that buyers were paying at least Rs 5.00 over last weeks prices, a welcome development for low grown plantations and leaf suppliers ahead of the Sinhala Tamil New Year. […]
Property Boom
Prime government land could soon be released for development to the private sector under a new plan to put them to more productive use. The government, which is the largest landowner in the country, plans to implement the scheme with donor support.rnA top investment bank has already been given the mandate to come up with […]
Airwaves On Sale
The government is planning to make the process of radio spectrum allocation to telecom firms more transparent in future. With the fast growth in wireless telecoms, some sectors are running out of spectrum space.rnAt one time however government had a policy of not charging high fees for spectrum, based on the principle that high start […]
Expensive Business
Sri Lanka has always been a hot spot for beach lovers. But the trend is changing. Niche tourism markets are starting to make a mark with first signs of the country emerging as a popular eco, adventure and Ayurvedic holiday destination. rnIn the last of a series on the travel and leisure industry, we look […]
Bad Weather
This weeks low grown auction average could slip below Rs.130, down from Rs. 147.46 for February. Brokers say that buyers stepped up orders marginally at the weekly auctions, but preferred to stay at previously low prices.Producers with little choice and desperate to liquidate their stocks to meet payments to leaf suppliers ahead of the Sinhala […]