Category:
No IDD Calls
The government has decided to limit Sri Lanka Telecoms public offering to the local market, amidst speculations of an impending snap poll.Plans to issue Luxembourg traded global depository receipts as part of its public offering to foreign investors has been put off to next year, SLT Chairman, Thilanga Sumathipala told Lanka Business Online in an […]
Plastic Money
Central Bank quote s Superintendent Currency, Chitra Ariyaratne confirmed that the Rs.200.00 was being systematically removed from circulation due to its failure to stick to people quote s pockets.rn rnThe Central Bank printed 20 million notes in 1998 to celebrate 50 years of independence endash introducing Sri Lanka to its first Rs. 200 denomination and […]
Bell broadband caf’e9
In a bid to get a competitive edge Lanka Bell has tied up with Harris Corporation of USA to bring in a High-end wireless broadband network. Forty data links have already been installed.rn rnLanka Bell plans on providing this technology to residential customers as well.rn rnBellnet is expanding with a Cyber Caf’e9, which will open […]
Derivative Drive
The top level Financial Reforms Committee is looking at ways to promote derivative instruments in Sri Lanka.The committee has appointed debt market specialist Mangala Boyagoda, CEO of Standard Chartered Bank, to look at the legal gaps holding firms back from using derivative instruments.rn rnA derivative is a contract between two parties to buy or sell […]
Bridging The Gap
For centuries people of India and Sri Lanka have used the Palk Strait as a channel of transportation of goods and services. The economies of the two landmasses have gained immensely.But who would have expected this legendary Hanumantha (Or Hanuman) sea link to become a reality. rn rnThe two governments are drawing up a plan […]
Commercial Drive
Savings banking giant NSB has sought approval for more commercial lending in an attempt to broad-base its mammoth deposits. rn rnThe bank has sought changes to its Act through the financial reforms committee to enable them to lend more to private sector companies.rn rnAbout eighty two percent of the bank quote s Rs. 125 bn […]
‘e9
In a bid to get a competitive edge Lanka Bell has tied up with Harris Corporation of USA to bring in a High-end wireless broadband network. Forty data links have already been installed.rn rnLanka Bell plans on providing this technology to residential customers as well.rn rnBellnet is expanding with a Cyber Caf’e9, which will open […]
Donor Prop Up
The World Bank will offer a loan to prop up the government budget next year.rn rnThe poverty reduction support credit will come on the back of the proposed growth facility loan currently being negotiated with the IMF.rn rnUnlike a program loan the PRSC funds will go towards financing the budget. rn rnThe government and the […]
Fund Raising
Lead managers for the governments dollar raising exercise plan to tap the American and Europe markets in about ten days time. Deutsche Bank and UBS Warburg on Tuesday, won the mandate to raise US$ 100 mn through a five-year floating rate note.rn rnThe investment banks have the option of raising a further US$ 100 mn […]
Legal Hunt
The top level Financial Reforms committee is looking at ways to support derivative laws in Sri Lanka.The committee has appointed top debt market specialist Mangala Boyagoda, Chief Executive of Standard Chartered Bank, to look at the gaps that quote s holding firms back from using derivative instruments.rn rnA derivative is a contract between two parties […]
Habib Bank moves out
Habib Bank AG Zurich was formally taken over by Hatton National Bank recently.rn rnAcquisition of Habib bank quote s assets of over 2 billion rupees has strengthened HNB quote s balance sheet of over 100 billion rupeesrn rnInternational banks are moving out to concentrate on familiar markets closer to home. rn rnldblquote Strategic decision taken […]
Tea (Pvt) Ltd
Moves to set up an Export Marketing Council for the tea industry is underway that will take over Tea Board promotions and include officials from the Export Development Board, the Board of Investment and the new Tourism Bureau.The proposed council will take over all promotional work currently carried out by the Tea Board, working hand […]