Category:
Who Cares?
Central Bank on right track; Treasury caught lying! Those of you regular readers might recall my congratulatory message to the Central Bank a couple of months back for standing their ground and tightening monetary policy at long last. Central Bank on right track; Treasury caught lying! Those of you regular readers might recall my congratulatory […]
Dial Up
Singapore Telecom’s local venture on Wednesday rolled out retail internet solutions, building up for potential growth in Sri Lanka’s IT market.Singapore Telecom’s local venture on Wednesday rolled out retail internet solutions, building up for potential growth in Sri Lanka’s IT market. LankaCom however says regulatory and a lack of access to fixed line operators infrastructure […]
Colombo Stock Exchange tours Australia
The Colombo Stock Exchange will go on tour to Australia and New Zealand, trying to convince potential investors to cash in on Asia’s best performing market. The Colombo Stock Exchange will go on tour to Australia and New Zealand, trying to convince potential investors to cash in on Asia’s best performing market. The Investor Road […]
Sri Lanka hopes to keep budget gap below 9%
The Sri Lankan government expects its budget deficit to be less than 9% of gross domestic product in 2005, helped by steady revenue growth, the country’s treasury secretary said Wednesday.The Sri Lankan government expects its budget deficit to be less than 9% of gross domestic product in 2005, helped by steady revenue growth, the country’s […]
Sri Lanka takes stock on total debt profile
Sri Lanka hopes to use its upcoming sovereign rating to retire some old expensive foreign currency debt and streamline its borrowing programme, Treasury Secretary said Wednesday. Sri Lanka hopes to use its upcoming sovereign rating to retire some old expensive foreign currency debt and streamline its borrowing programme, Treasury Secretary said Wednesday. The island nation […]
Guinea Pigs
State-run Bank of Ceylon has picked up the mandate to manage surplus government cash in excess of Rs. 10 billion, Treasury Secretary said Wednesday. State-run Bank of Ceylon has picked up the mandate to manage surplus government cash in excess of Rs. 10 billion, Treasury Secretary said Wednesday. The surplus funds of government corporations are […]
Weak Signals
Fixed line giant Sri Lanka Telecom reported a 55 percent drop in its after tax profits, on the back of higher operating costs and provisions to the telecom development fund. Fixed line giant Sri Lanka Telecom reported a 55 percent drop in its after tax profits, on the back of higher operating costs and provisions […]
No Room
Sri Lanka’s Ministry of Health is trying to broad base mental health treatment facilities, because mental hospitals have run out of room.Sri Lanka’s Ministry of Health is trying to broad base mental health treatment facilities, because mental hospitals have run out of room. “We are trying to open hospitals in the periphery and at least […]
Next Stop
An August 01 railway fare hike will cut the commuter service’s losses by an estimated Rs.500 mn, but increasing recurrent costs could keep losses high. An August 01 railway fare hike will cut the commuter service’s losses by an estimated Rs. 500 mn, but increasing recurrent costs could keep losses high. Railway’s General Manager Priyal […]
Foggy Policies
Slow port development is the threat to the local economy, not Sethusamudram, say local ship agents.Slow port development is the threat to the local economy, not Sethusamudram, say local ship agents. “Sethusamudram is not a threat to the Colombo port, if the Colombo South port, behind SAGT, is ready by 2009,” said Chairman of the […]
Re-dial
Dialog on Tuesday tapped HSBC for a Rs. 2.46 bn five year loan to pay back its Malaysian parent. Dialog on Tuesday tapped HSBC for a Rs. 2.46 bn five year loan to pay back its Malaysian parent. The loan carries a SLIBOR +1.4 percent interest payable over the five year period in equal semi […]
Tighten Belts
Asia will feel the weight of economic adjustments in China and the US, warns Asian banking giant HSBC.Asia will feel the weight of economic adjustments in China and the US, warns Asian banking giant HSBC. Addressing the local business community in Sri Lanka, HSBC’s chief economist for the Asia Pacific region, Arup Raha said monetary […]