Category:
Twin Sharing
Domestic charter flight giants Lion Air and Expo Aviation are within days to seal the hatch on a deal, to cross market their services.The airlines will fly on a shared schedule and will cross sell seats through their agents in Colombo and Jaffna.rn rnBoth firms feel the deal will help grow the industry and make […]
Bloom Time
Sri Lankas primary dealers signed up with Bloomberg to set up a bond-trading platform.At the moment the scripless securities system is not yet operational, but the electronic trading platform itself takes away some of the risks of the old market.rn rnldblquote In a bond market normally you deal on the word of mouth- the traders […]
More Shine
Your chances of finding gems are higher in Sri Lanka than anywhere else in the world, because Sri Lanka has the highest density of gems to land ratio in the world.But at present gem mining is limited to certain areas in the country.Re-mining of the same land is exhausting resources in places like Ratnapura and […]
Code For Corporates
Members of a committee appointed by the securities watchdog plan to propose measures that will improve the dismal corporate governance practices in listed companies.The SEC appointed committee would have its first meeting soon to discuss how it will approach the issue.rn rnMembers of the committee say the biggest challenge facing them is to see how […]
Mute Button
The Telecom regulator and top government bureaucrats held a public discussion on a new regulatory structure as other operators opposed SLTs plans to acquire Wireless Local Loop (WLL) operator Lanka Bell.Telecom watchdog TRC together with support from the public interest program unit of the Economic Reforms Ministry is planning an overhaul of telecom regulation.rn rnExperts […]
Smooth Operator
Primary Dealers in government debt will be asked to raise their capital next year, as the Central Bank tries to strengthen the dealer network.The new regulations for dealers who operate in the primary government securities market comes, as the Central Bank steps up its drive to deepen the debt market.rn rnAt the moment primary dealers […]
Coming Out Party
So far, the bank has written to international rating agents, like Citibank and J P Morgan who currently have a local presence, about playing an advisory role in the rating process.rn rnPlans for a sovereign rating have been pending for several years, but have always been put off because of the war. rn rnBut a […]
Little Tease
The government confirmed plans to sell a further stake in Sri Lanka Telecom and is presently exploring various exit options.ldblquote The government of Sri Lanka has by an official communique informed the board of directors of SLT that they were contemplating a further divestment of the shares held in SLT,” SLT CEO, Shuhei Anan said […]
Mega Interest
MIGA, the World Banks insurance arm, says it is entertaining 12 proposal from foreign investors, to fund projects worth over US$ 1 bn in Sri Lanka.ldblquote There is tremendous investor appetite since the ceasefire started and the economy is growing faster. There is lot of interest for infrastructure projects, so inquiries have come our way […]
Interest Push
Policy makers could slap on a windfall tax on commercial banks if they dont narrow their interest rate spread within six weeks. Prof. G.L Peiris told reporters on Thursday that commercial banks are slow to comply with the governments strategy to achieve single digit lending rates.rn rnIn addition, Prof. Peiris says the wide interest rate […]
Calling Home
Lanka Bell on Thursday signed up with Net2Phone Global Services of US, to offer international calls at bargain rates to key destinations.Net2Phone routes calls over the Internet, unlike conventional traffic, which goes through undersea cables.rn rnAlso referred to as Voice Over Internet Protocol or VOIP, the system offers international voice traffic at virtually a fraction […]
Falling, Falling
The Central Bank cut its key short-term rates on Thursday, signalling that the economy was getting stronger.rnrnThe bank lowered its overnight repurchase rate (repo rate) by 50 basis points to 7.0 percent.rn rnThe reverse repurchase rate (reverse repo) was cut by 100 basis points to 8.50 percent, the bank said in a statement following its […]