Category:
Free Fall
Investors are bracing for a brutal fall in share prices in Thursday trading, following up on the over 18 percent drop in the ASPI over two days. The stockmarket plummeted through Tuesday and Wednesday trading on news that the President had sacked three key Ministers from their posts sand was mooting plans to take control […]
Buying Support
The Sri Lanka Muslim Congress (SLMC) leader Rauff Hakeem says his party will back the UNF government only on conditions put forward by his party. Conditions include Muslims being recognised as a separate and independent participant and that the partys proposals for an interim administration are considered at peace talks with the Liberation Tigers of […]
Rotting Deal
The Finance Minister in an emergency meeting with the press on Wednesday said fertiliser subsidies was to be increased significantly from the Rs. 2 billion allocation this year.rn rnChoksy said the farming community deserved an increased subsidy, given the two subsequent bumper harvests. rn rnThe relief measure however, goes against earlier statements from related Ministries, […]
Small Wallet — Updated
Sri Lanka is tipped to head for a mini budget as signs of the UNF budget making its way to Parliament this year, diminish.rnrnrnGovernment finances run on a calendar year and a Vote on Account (mini budget) is needed to ensure the administration runs for an interim period.rn rnPresident Chandrika Kumaratungas move on Tuesday to […]
Starlight
Dubai-based Emirates Airline has set its sights on the stars — literally — to help it offer new levels of comfort and enjoyment to travellers on ultra-longhaul flights from next month.In an industry first, an image of the night sky above Dubai, complete with twinkling constellations, will be shown on the ceiling panels above their […]
High Altitude
lquote Countdown to takeoff; passengers are now boarding for the first commercial Hot Air Balloon flights, taking off over Sigiriya this Saturday.The first commercial balloon flights were given the go-ahead on Tuesday, to start flights over some of Sri Lankas key tourist towns.rn rnldblquote We hope to commence our inaugural flights over Dambulla-Sigiriya and from […]
Peace Accord Holds
The Norwegian-brokered ceasefire pact between the Sri Lankan government and Tamil Tiger guerrillas will stand despite President Chandrika Kumaratunga taking over the defence ministry, a presidential adviser said Wednesday. “The president has specifically asked me to state that the ceasefire agreement stands and will stand and there is no question about it,” Lakshman Kadirgamar, international […]
US Backs Premier
Suspension of parliament, other actions possibly detrimental to peace, says State Department Spokesman on Wednesday.U.S. State Department Deputy Spokesman Adam Ereli expressed concern that President Kumaratungas decision to sack three government ministers, suspend parliament, and deploy troops around the capital “could have a negative effect on the peace process and talks with the Liberation Tigers […]
Calling All Buyers
The market is climbing up, with analysts seeing investment oppurtunities, urging buyers to return to the market. rn”Fundamentally stocks are trading at attractive levels. There are enough buying oppurtunities and now is the time to enter the market”, says Manager Research at HNB Stockbrokers, Hasitha Premaratne.rn rnBuyers are returning on the back of mostly panic […]
Crash
The Colombo stock market took a plunge as President Chandrika Kumaratunga sacked three key ministers and took over the portfolios of Defence, Interior and Media.Government Spokesman Gayrika Perusinghe told LBO that President Kumaratunga had removed Ministers Thilak Marapana (Defence), John Amaratunga (Interior) and Imthiaz Bakeer Markar (Media) and their respective line bureaucrats with immediate effect.rn […]
Six Calls
Six investment banks are vying to take up the post of international ratings advisor to the government, as it embarks on the process of seeking a sovereign rating.Central Banks Superintendent Public Debt, Dharma Dheerasinghe says HSBC, Standard Chartered Bank, Citibank, Deutsche Bank, UBS Warburg and JP Morgan have sent in their proposals.rn rnldblquote We will […]
Report Card
Effective steps to create a tax compliance culture, focus revenue generation measures where there is a capacity to pay and to target relief measures where they would have the greatest impact, are among a comprehensive set of recommendations by the Institute of Chartered Accountants for the forthcoming national budget.The countrys premier national accountancy body has […]