Category:
Loanly Treasury – Wrapping Up
The Treasury is planning to issue a fresh US$ 100 mn of commercial bonds next year while giving up on cheaper program loans from lenders.The Treasury is planning to issue a fresh US$ 100 mn of commercial bonds next year while giving up on cheaper program loans from lenders. The government has already issued US$ […]
Big Brother
Sri Lankan authorities are tightening scrutiny on export inflows as the country battles an exchange crisis brought about by falling capital flows and rising imports.Sri Lankan authorities are tightening scrutiny on export inflows as the country battles an exchange crisis brought about by falling capital flows and rising imports. The Department of Exchange Control, an […]
Chequing Out
Moving in with the paperless world, Sri Lanka will introduce a computer images based cheque clearances system to speed up transactions, by August 2005. “We are hoping to get the image based clearance system fully operational by August 2005,” said Justin Wickramasinghe, CEO of Sri Lanka’s cheque clearing house LankaClear (Pvt) Ltd, on Tuesday. The […]
Satellite Operations
Sampath Bank is infusing over Rs.75 mn to float a specialised leasing unit, to capitalise on the growing trend for operating leases.Sampath Bank is infusing over Rs. 75 mn to float a specialised leasing unit, to capitalise on the growing trend for operating leases. The yet-to-be-named company will start operations early next year, with Sampath […]
Indian arrivals to push tourism in 2005?
Tourist arrivals are expected to grow by 20 percent next year fuelled by Indian arrivals and a change of marketing strategy.Tourist arrivals are expected to grow by 20 percent next year fuelled by Indian arrivals and a change of marketing strategy. In November this year India displaced UK as Sri Lanka’s chief tourist market because […]
Sri Lanka in new bid to restart peace talks
Sri Lanka has made a new proposal to revive peace talks with Tamil Tiger rebels amid intense pressure from foreign aid donors, officials and a press report said Tuesday.Sri Lanka has made a new proposal to revive peace talks with Tamil Tiger rebels amid intense pressure from foreign aid donors, officials and a press report […]
Malnutrition spreads faster in Tiger territory: UN agency
The United Nations World Food Program Tuesday said that malnutrition was spreading at an alarming rate in Sri Lanka’s Tamil rebel-held regions with nearly one in five children suffering stunted growth.The United Nations World Food Program Tuesday said that malnutrition was spreading at an alarming rate in Sri Lanka’s Tamil rebel-held regions with nearly one […]
War drums dampen Sri Lanka’s tourism cheer in the New Year
Sri Lanka’s tourism industry is set to wrap up its best year ever thanks to a truce between troops and Tiger rebels, but fears of a return to war have made the flourishing sector jittery once again.Sri Lanka’s tourism industry is set to wrap up its best year ever thanks to a truce between troops […]
Early Present
The Asian Development Bank stepped in on Monday to bail out debt riddled Peoples’ Bank, with a Rs.4.5 bn loan package. The Asian Development Bank stepped in on Monday to bail out debt riddled Peoples’ Bank, with a Rs. 4.5 bn loan package. “We will get Rs 2.0 bn in the last quarter of 2005, […]
Taxing Times
Tax changes proposed in Budget-2005 will go before Parliament early next year, says the Treasury.Tax changes proposed in Budget-2005 will go before Parliament early next year, says the Treasury. “We will get the changes to the indirect taxes approved by January 31, 2005 and income tax changes by March 31, 2005,” said Treasury secretary, P […]
‘s tourism cheer in the New Year
Sri Lanka’s tourism industry is set to wrap up its best year ever thanks to a truce between troops and Tiger rebels, but fears of a return to war have made the flourishing sector jittery once again.Sri Lanka’s tourism industry is set to wrap up its best year ever thanks to a truce between troops […]
Plugging In
India’s National Thermal Power Corporation has put in a bid to develop a 300 MW coal power plant in Sri Lanka, Indian news wires reported today.India’s National Thermal Power Corporation has put in a bid to develop a 300 MW coal power plant in Sri Lanka, Indian news wires reported today. The proposal sent to […]