Category:
Good Marks
Fitch Ratings Lanka Ltd (FRL) has assigned SL A national credit rating to the Implied Long-term unsecured Senior Debt of First Capital Treasuries Ltd (FCTL).SL A rating denotes a low expectation of credit risk. The capacity for timely payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to changes in […]
Fuzzy Signals
The Central Bank will meet a consortium of investors keen on buying Pramuka Bank on Wednesday evening to shed more light to their complex proposal.Hopes ran high on Tue. that the Central Bank had discussed a proposal put forward by a consortium at its Monetary Policy meeting.rn rnCentral Bank Governor, W A Wijewardene said the […]
Silver Lining
The government plans to take a fresh approach to divest its stake in Shell Gas Lanka Ltd., after its initial attempts fell through.rnrnrnrnrnrnrnNew Page 1rnrnrnrnrn ThernTreasury, which owns 49 percent of the gas giant, was earlier hoping to raisernaround Rs. 500 mn by selling its stake.rn RoyalrnDutch Shell, which bought a 51 percent stake in […]
Hat Collection
The government is looking for donor assistance to give the local asset securitisation market some legal teeth.Securitisation allows firms to borrow against future cash flows, which are channelled into a separate legal entity or a special purpose vehicle (SPV). Though asset securitisation has been around since the mid-1990s, local laws do not recognise such transactions.rn […]
Take Off
An annual 6.5 percent growth forecast for the Asian aviation industry has prompted the EU to set up a regional training facility in Sri Lanka.The EU and the European Association of Aerospace Industries (AECMA) are putting in a combined Euro 10 million to develop the skills of national aviation regulators and operators in South Asia […]
Cloud No. 9
The Galle Face Hotel is coming out of the closet with Bryan Adams and is hinting at signs of waking up to changing times.The Galle Face Hotel still manages to ooze its famous old world charm but is now clearly looking at shedding its sleepy image starting early this year backed by the musical magic […]
Joint Decision
The Joint Business Forum(JBiz) sat on a second round of pow-wows , this time attended by religious and NGO groups, on a course of action to end the prevailing political sulks endash and decided to slap the countrys leadership with an ultimatum.After over two hour of discussion with religious and civil society representatives, JBiz decided […]
Calling Lanka
The Board of Investment is mooting changes to the BOI Act for bigger tax holidays encouraging call centres to relocate here. rnCurrently Sri Lanka trails behind neighbouring countries like India and the Philippines as potential centres for Business Process Outsourcing (BPO).rn rnHigh electricity costs and until recently – inflexible labour laws restricting overtime for women […]
Tour de Farce
Even before the dust settles on 2003, the tourism industry is gearing up to break last years arrivals record this year.Sri Lanka Tourist Board officials say they expect the numbers to continue their upward trend.rn rnHowever, the industry says a change in the course of the peace process and continuing political instability could derail plans.rn […]
ERP Burp
Computers started making an impact on business productivity and speed over two decades ago. Manufacturing companies were some of the first to get software packages to help them automate and better plan the process while enterprise wide deployment happened afterwards with Enterprise Resource Planning or ERPs.rn rnBut experts say the challenge is to get computer […]
New Page
The government is looking at amending laws to allow foreign investors into the corporate debt market, without liberalising the capital account.Foreigners are currently restricted to equity investments. They can also invest in government debt through unit trust.rn rnOver the years, capital market players have been lobbying for a policy shift, as direct access to the […]
Funding Skills
Legislation to set up a Human Resource Endowment Fund is in the works, offering needy students stipends on a voucher scheme, for vocational training. rnThe US$ 40 mn Fund was mooted in the 2003 budget, with a proposal at the time to impose a levy on companies paying 30 percent of corporate tax.rn rnModalities are […]