Category:
Central Bank to go for long term bonds
Central Bank told primary dealers that four and five year bond auctions will be held soon after gilt yields declined in the market.Central Bank told primary dealers that four and five year bond auctions will be held soon after gilt yields declined in the market. Central Bank says four-year bonds will be on offer at […]
Good Times
Local financial sector, dominated by banks, has been growing at a healthy pace for decades.Local financial sector, dominated by banks, has been growing at a healthy pace for decades. Over the last five years banks with their access to cheap deposits have also made in-roads to specialized areas in the financial sector like leasing. The […]
Second Act
The Strategic Enterprise Management Agency (SEMA) is drawing up legislation to permanently insulate state institutions from political interference.The Strategic Enterprise Management Agency (SEMA) is drawing up legislation to permanently insulate state institutions from political interference. The Act will give Singapore-style independence for state owned institutions to take commercial decisions. “In our Charter, one of the […]
Gold Revelation
Contradicting all previous claims that GoldQuest products are priced at several times their real gold value because of a supposed ‘numismatic’ value, the company has revealed to the Court of Appeal that its products are over priced because it has membership maintenance fees incorporated into the sale price. Contradicting all previous claims that GoldQuest products […]
Gold Conspiracy
Sri Lanka Customs have filed documents in the Court of Appeal which bares an alleged scheme to subvert officials in at least three government departments in a an elaborate conspiracy to defraud the government of tens of millions of rupees in revenue, from the import of GoldQuest products.Sri Lanka Customs have filed documents in the […]
‘s role to expand, as private sector cant lead the country on its own
The Treasury Secretary said they plan to expand the role of the government because they think the private sector alone can’t lead the country.The Treasury Secretary said they plan to expand the role of the government because they think the private sector alone can’t lead the country. But he says the state has got the […]
Surgical Cut
Asiri Medical Services, a unit of Asiri Hospitals Ltd., plans to list its stock next year to settle some debt.Asiri Medical Services, a unit of Asiri Hospitals Ltd., plans to list its stock next year to settle some debt. The 14 storey Asiri Medical Service (AMS) cost the group around Rs. 1.0 bn and was […]
Face Lift
Holidaymakers to Sri Lanka this winter will probably return home more relaxed and looking better than they did before their vacation – that is if they check in at the plush Apollo Colombo before sinking into their holiday.Holidaymakers to Sri Lanka this winter will probably return home more relaxed and looking better than they did […]
Wired Up
Cellular operator Hutch (formally known as Hutchison) is linking up its limited mobility network to add an island wide mobile service to its portfolio.Cellular operator Hutch (formally known as Hutchison) is linking up its limited mobility network to add an island wide mobile service to its portfolio. Hutch adopted a network model which restricted the […]
ADB asks Lanka to get cracking on reforms and economic development
Asian Development Bank’s half a million dollar commitment to Sri Lanka could hit a bumpy stretch if much needed reforms and economic performance gets entangled in the web of political rhetoric.Asian Development Bank’s half a million dollar commitment to Sri Lanka could hit a bumpy stretch if much needed reforms and economic performance gets entangled […]
Banks wetting government’s 10,000 tank restoration project
Sri Lankan banks are putting millions on the government’s water-tank-horse that is expected to bear the island into an era of prosperity. Sri Lankan banks are putting millions on the government’s water-tank-horse that is expected to bear the island into an era of prosperity. The government wants Rs. 2 bn to rehabilitate 10,000 ancient water […]
High Level
Traffic at the High Level and Kohuwala junctions in Nugegoda will fly over from 2007, with the Cabinet approving a Rs.600 mn project. Traffic at the High Level and Kohuwala junctions in Nugegoda will fly over from 2007, with the Cabinet approving a Rs. 600 mn project. The three year fly over project is one […]