Category:
Shifting Bulge
Former Plantations Minister Arumugan Thondaman shifted baggage to the ruling Freedom Alliance, giving the government its longed for majority.Former Plantations Minister Arumugan Thondaman shifted baggage to the ruling Freedom Alliance, giving the government its longed for majority. Eight seats from the Ceylon Workers Congress will give the Alliance 114 seats in Parliament, one up on […]
Perfect Pitch
The Hayleys Group plans to acquire a few more ships in the coming months as it sees opportunities to expand its transport unit.The Hayleys Group plans to acquire a few more ships in the coming months as it sees opportunities to expand its transport unit. Hayleys, one of Sri Lanka’s largest conglomerates, has interests in […]
Joint Forces
India’s energy sector currently going through an overhaul might see state owned Bharat Petroleum merge with Indian Oil Corp., with repercussions for Sri Lanka. India’s energy sector currently going through an overhaul might see state owned Bharat Petroleum merge with Indian Oil Corp., with repercussions for Sri Lanka. Indian news wires on Thursday said that […]
Commercial Bank gets a AA (sri) rating for upcoming Rs. 1 bn debt issue
Commercial Bank is raising a billion rupees through private placement of four-year debentures, largely to feed its growing loan book. Commercial Bank is raising a billion rupees through private placement of four-year debentures, largely to feed its growing loan book. The issue carries a AA (sri) rating from Fitch Ratings Lanka, is ranked one notch […]
Building Trust
Edirisinghe Trust Investments an EAP Group company relaunched its services Wednesday, venturing into the leasing business.Edirisinghe Trust Investments an EAP Group company relaunched its services Wednesday, venturing into the leasing business. ETI, a strong player in the pawning business for over 35 years, said its leasing business was only the beginning of its stride into […]
Prime Cut
Commercial Bank of Ceylon has raised US$ 35 mn through a syndicated loan arranged by Standard Chartered Bank Colombo at slightly lower rate than the Sri Lankan government.Commercial Bank of Ceylon has raised US$ 35 mn through a syndicated loan arranged by Standard Chartered Bank Colombo at slightly lower rate than the Sri Lankan government. […]
State Secrets
Armed with a restraining order against a hydro project on forestland, environmental lobbies say secretive state procedures are keeping the public from getting involved.Armed with a restraining order against a hydro project on forestland, environmental lobbies say secretive state procedures are keeping the public from getting involved. The Court of Appeal on Tuesday extended an […]
NAMAL puts out Sri Lanka’s first money market fund making use of recent changes to the Unit Trust Code
NAMAL or National Asset Management Co., is coming out with a money market fund, capitalising on a recent change to the Unit Trust Code. NAMAL or National Asset Management Co., is coming out with a money market fund, capitalising on a recent change to the Unit Trust Code. Money funds are mutual funds that invest […]
Sri Lanka’s inflation nudged up to double digit levels in August
Sri Lanka’s inflation nudged up to double digit levels in August, as a hefty oil bill and a falling rupee took its toll on the economy.Sri Lanka’s inflation nudged up to double digit levels in August, as a hefty oil bill and a falling rupee took its toll on the economy. The Central Bank said […]
‘s first money market fund making use of recent changes to the Unit Trust Code
NAMAL or National Asset Management Co., is coming out with a money market fund, capitalising on a recent change to the Unit Trust Code. NAMAL or National Asset Management Co., is coming out with a money market fund, capitalising on a recent change to the Unit Trust Code. Money funds are mutual funds that invest […]
Asking Price
SriLankan Airlines says it will need a fuel surcharge of about US$ 5 on a one-way ticket if it is to cover fuel costs soaring through the roof. SriLankan Airlines says it will need a fuel surcharge of about US$ 5 on a one-way ticket if it is to cover fuel costs soaring through the […]
Great Expectations
Finance Minister Dr. Sarath Amunugama said Tuesday that the public sector would be ‘expanded’ as needed, to take up 41,000 unemployed graduates who were promised jobs.Finance Minister Dr. Sarath Amunugama said Tuesday that the public sector would be ‘expanded’ as needed, to take up 41,000 unemployed graduates who were promised jobs. The state is dishing […]