Category:
Wider Gap
rnrnrnrnrnrnNew Page 1rnrnrnrnrn Trade deficit expanded to US$ 150 mn in Januaryrnfrom US$ 131 mn in the same period 2002, largely due to higher import costs, thernCentral Bank said on Tuesday.rn ldblquote Export growth was supported by a strongrnperformance of industrial exports, mainly machinery, mechanical and electricalrnequipment, and textiles and garments, dblquote the bank said.rn […]
Spotting Leopards
Hot on the trail of the eco tourism inclination, Bogawantalawa Plantations is promoting four infrastructure projects among local and overseas investors.Taking centre stage among the projects is the Leopard Mountain Hotel, a Rs.500 million facility proposed by the people behind the Elephant Corridor Hotel.rn rnMeanwhile, an abandoned tea factory is being assessed for structural adjustment […]
Village Act
The next phase under the flag of liberalisation, the Act to set up the telecom sector development fund was published on Monday, open for a week for public scrutiny. Setting up the Viswa Grama Trust Fund, next in line to the liberalisation of the international voice market earlier this year, is intended to take the […]
Bigger Cushion
Primary Dealers in government debt were asked to raise their capital this month as the Central bank tried to strengthen the dealer network.The new regulations for dealers in the primary market for debt came in to effect at the beginning of the month.Primary dealers now have a minimum of Rs. 150 mn in Tier I […]
Opening Runways
The Civil Aviation Authority is awaiting the Ministry green light to open access to all of fourteen airports in the country.The Civil Aviation Authority says private airlines can start flights as soon as permission is granted, as the traffic will be light to the airports all of which are operational at present.rn rnThe airports mainly […]
Paradise Bliss
Brides and grooms in search of the dream wedding locations with a tropical twist have found the ideal setting in local beach resorts.The south coast is slowly emerging as one of the top wedding destinations for Europeans who want a beach ceremony.Hotels that specialise in wedding packages say its more profitable to tap this market […]
Number Hunt
Telecom regulators are proposing a new numbering plan for telephones, which they say, will aid growth in the industry.If implemented the plan will change the countrys phone numbers for the first time in decades.Phone numbers are also a scarce resource the telecom regulator has to manage together with ldblquote rights of way dblquote and the […]
Bigger Footprints
Sri Lankas largest private insurer, Ceylinco Insurance Co. is looking overseas with plans to add a few branches to its existing operations.Talks are under way to open up branches in Burma, Pakistan and Uganda in the coming months, Chairman Deshamanya, Lalith Kotelawala told journalists.rn rnThe company currently has operations in Nepal (joint venture with Sagarmatha […]
Wealth Management
The government has formed a new company to manage fee and fund-based activities of state corporations including the Mahapola Trust Fund.National Wealth Corporation will be a 100 percent government owned entity, but staffed by top private sector professionals, Commerce & Consumer Affairs Minister, Ravi Karunanayake told LBO on Friday.rn rnldblquote With interest rates coming down […]
G-Force
Sri Lanka will have its first 3G frequency auction in April, a limited exercise which will offer three slots in the 1800 MHz range.The auction will also be limited to the four mobile operators, who will make closed bids for the three slots.rn rnTelecommunications Regulatory Commission (TRC) Director General, Themia Hurulle told Lanka Business Online […]
Cold Cuppa
The tea industry continued its ill fate with indications that around 25% to 30% of all teas brought to the weekly auctions in Colombo would remain unsold. Brokers say low prices and a lack of demand could lead to a liquidity shortfall ahead of the Sinhala Tamil New Year in April. The low grown sector […]
Act Two
The private sector is calling for amendments to the Consumer Affairs Authority Act that is due to come into force on April 1, saying it has too many holes.The Act became law on the March 17 and is due to come into effect from April 1.rn rnAmong key concerns is the impartiality of politically appointed […]