Signed & Sealed
The government sold off its holding in Sri Lanka Insurance Corp. to the Distilleries consortium for Rs. 6.05 bn. The new owners plan to list SLIC in two-years, …
Special Reports
Oil Rush
An international road show to offer blocks for oil exploration in the Mannar Basin is expected to kick off early next year. Model Petroleum Resource Sharing …
Showing Teeth
The telecom watchdog flexed its muscle and took Mobitel to the Magistrates Courts for violating the regulators directive. Mobitel launched its GSM network in …
In 2003 – Calling Bell
After months of intense courtship, Sri Lanka Telecom said it plans to take full control wireless local loop operators Lanka Bell. SLT declined to name the bid …
Safe Bet
Sri Lankas first indexed backed commercial paper, linked to the All Share Price Index, was issued to the market on Wed. Structured by National Wealth Corp., …
Cherry Picking
Peoples Banks restructuring committee is likely to be choosy in its search for a strategic partner who will inject capital to the bank. Chairman Lal …
In 2003
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Monopoly Class
An Emirates-Govt. MOU to lift ground handling and catering monopolies has come under fire, forcing officials to rethink concessions. Officials say the MOU in …
Stretch Factor
Sri Lanka will venture overseas with its first attempt at branded rubber – Lankaprene, a premium quality crepe product. The low protein product is …
In 2003
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Twelve Ways To Spend
lquote Twas the 12 days of Christmas and lovers in that timeless carol, braved high seas (with a fat wallet) to bring their true love 12 unusual gifts. Care to …
Rough Road
Reckitt Benckiser (Lanka) Ltd put up shutters for its in-house manufacturing and logistics plant with immediate effect, due to haemorrhaging losses. Popularly …
In 2003
The new Intellectual Property (IP) law came into force in September giving more power to inventors and artists despite a brief struggle with public interest …
In 2003 – Spin Offs
Downstream petroleum distribution was liberalised this year, being thrown open for three players including state owned Ceypetco. A third player will be …
In 2003 Super Chain
Management control and a 40% stake in the state supermarket chain – Sathosa was taken over by a consortium led by Ceylon Biscuits. Richard Pieris, Ceylon …
In 2003
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In 2003 – Under the Banyan
Banyan Tree shelved ambitious plans for Sri Lankas leisure industry and will wait for the current political impasse to pass over. The Group took over …
In 2003 Game GDP
A first Central Bank study on provincial GDP numbers came out in 2003, showing an uneven, imbalanced regional input to economic growth. The Western Province …
Alternative Current
The Ceylon Electricity Board (CEB) is likely to develop the 40 MW Broadlands hydro power plant instead of allowing a private company to do it as planned …
Let There Be Light
It is beginning to look a lot like Christmas; certainly’85 for traders down Main Street. Traders of Main Street in Colombo Fort have decided to keep …