Category:
Now or Never
Feb 07 (LBO) – Sri Lanka Ports Authority (SLPA) chief warned Tuesday that the island would suffer irreversible costs if the south port project does not take off before next year. SLPA Chairman Dileepa Wijesundara told LBO that construction work on Colombo’s South Harbour project would not be delayed, with funding options expected to be […]
Out of the house
Feb 07 (LBO) – The State Mortgage and Investment Bank (SMIB) plans to change their governing act to get more freedom to lend and change its name as part of a complete make-over, a top official said. SMIB Chairman Chandima Weerakkody said proposed amendments have been submitted to the subject minister Wijedasa Rajapakse, who is […]
Fine Tuning
Feb 07 (LBO) – Sri Lanka’s telecom watchdog says it has started to crack down on errant state and private sector frequency users to collect overdue fees. The crackdown is part of a programme to clean up Sri Lanka’s commercial important spectrum, which is currently near full capacity. Already, the regulator is seeing a crunch […]
Sri Lanka’s top donors not convinced that the situation is conducive for reconstruction and investment
Feb 06 (LBO) – A drop in violence and impending peace talks between warring factions has failed to convince Sri Lanka’s top donors that the situation is conducive for reconstruction and investment, officials said Monday. Top officials of the tropical island’s key donors – the World Bank and the Asian Development Bank (ADB) – said […]
Sailing Offshore
Feb. 06 (LBO)-Sri Lanka’s only commercial ship building and repair firm Colombo Dockyards Limited (CDL) plans to invest over Rs.660 million to upgrade infrastructure in order to lure new business and face up to competition from India. The investment spread over 2005 and 2006 is expected to improve CDL’s profitability, especially from its shipbuilding operation, […]
Plan B
Feb. 06 (BLO) Sri Lanka’s key information technology communication agency, ICT Agency, plans to opt for a consortium built fibre optic internet backbone or data only licenses instead of the disputed regional telecom network licenses. Sri Lanka’s three-fixed line and four cellular network operators took the state ICT policy implementing body to courts in early […]
’s top donors not convinced that the situation is conducive for reconstruction and investment
Feb 06 (LBO) – A drop in violence and impending peace talks between warring factions has failed to convince Sri Lanka’s top donors that the situation is conducive for reconstruction and investment, officials said Monday. Top officials of the tropical island’s key donors – the World Bank and the Asian Development Bank (ADB) – said […]
Trimmed Changers
Feb 04 (LVP) – Five moneychangers have lost their license after they failed to comply with new capital requirements set by the regulator. Moneychangers operate as a supplement to commercial banks, and can buy foreign exchange from the public in return for domestic currency. Most operate in Colombo’s Fort area. Sri Lanka’s Central Bank, which […]
Sri Lanka frees 2,000 prisoners to mark Freedom Day
Feb 4 (AFP) – Sri Lankan authorities Saturday freed nearly 2,000 convicts to mark the island’s 58th anniversary of independence from Britain, a prison spokesman said. A presidential pardon helped 1,995 inmates, including 57 women, serving time for minor offences to leave prisons across the island, the spokesman said adding that 450 of them were […]
Sri Lanka shows military might as Tigers protest anniversary
Feb 4 (AFP) – Sri Lanka put on a bristling display of its military might to mark freedom day Saturday as Tamil rebels forced a work stoppage ahead of key talks to save a tenuous truce in the strife-torn island.Shops were closed and public transport was off the streets in the restive northeastern port district […]
Junk bonds for patriots
Feb.03, 2006 (LBO) — Sri Lanka Friday announced plans to issue US$250million-worth of sovereign bonds with the first US$25 million tranche going on sale next Monday, officials said. Treasury Secretary P. B. Jayasundera said the securities dubbed, “Sri Lanka Nation Building Bonds,” give expatriate countrymen a chance to take part in the island’s development activities. […]
Billion dollar bond to hit the road shortly
Feb. 3 (LBO)- Sri Lanka will shortly start selling a billion dollars in government bonds with the help of Citibank, Treasury Secretary Jayasundara said Friday. “Citibank has been appointed and we will finalise the process within the next two weeks,” Jayasundara told reporters. Jayasundara said the structure of the billion-dollar issue is being worked out […]