Category:
North Bound
rnWith investor interest in the area perking up, development projects are beginning to get underway with road rehabilitation and water/sanitation projects, among those high on the agenda.rn rnIn addition to four large-scale industries in the area, there are a total of 3548 industrial units in the area employing some 15,000 people.rn rnMost of these are […]
Changing Accounts
At least two local banks are carrying out due diligence studies to make a bid, informed market sources told Lanka Business Online. rnrnLeading consultancy, Ernst & Young is expected to conduct the due diligence for the prospective bidders, that include Commercial Bank, whose Chairman declared the banks strategy to grow through acquisitions last week and […]
Risky Business
According to the study, the local banking sector is saddled with a 19 percent NPL ratio and only few banks record a NPL ratio below 10 percent.Cost to income ratio endash a key efficiency indicator endash is also recorded well above 80 percent for some banks. rnrnIn addition, findings reveal a heavy reliance on collateral […]
Act Now
Ajantha Madurapperum also called for proactive measures to prevent a liquidity shortfall in the festive month of April. rnrnThe Central Bank cut its discount rates last October, when both repo and reverse repo was reduced by 1 percent to 12 percent and 14 percent, respectively. rnrnMadurapperuma said that factors that traditionally governed the domestic interest […]
Hot Pursuit
The government today expressed its interest to dispose its 39 percent stake in NIC to the highest bidder. The employees control 10 percent of the company. rnrnThe government quote s privatisation arm, the Public Enterprise Reform Commission, has called for Expressions of Interest to be submitted by April 8. rnrnJanashakthi picked up NIC quote s […]
Paperback Sale
Stamford Press is floating a new company called Stamford Lanka (Pvt) Ltd to acquire LHB from Lake House Investments (LHI). rnrnStamford Lanka will be jointly owned by Stamford Press (51 percent) and the associate companies of Mr. R S Wijewardene (49 percent), LHI told shareholders. rnrnUnder the sale, LHI will transfer LHB quote s goodwill […]
Accounting Online
The solution combines IT hardware from IBM, accounting software from Golden Key and telecommunication services of SLT to give companies a ready to use accounting solution simply by logging on to a secure server.rn rnCompany offices say solution will reduce client side cost as they would not have to invest in hardware and expensive software […]
Northbound
The Mercantile Merchant Bank Ltd (MMBL), one of the two local agents for the Western Union has set on a aggressive expansion drive that will double its 25 sub agent network by the end of this year. rnrnldblquote We are looking at areas with high inward remittances. In North and East we will be opening […]
Bargains
An exciting holiday in Malaysia has become affordable to many Sri Lankans under an amazing new package on offer from Emirates till end April.
T Txt Msg
Information is sent out in a segmented form according to the needs of different user categories such as superintendents, CEO, division managers and buyers and so forth, F&W said in a release. rnrnJointly developed by F&W and Dialog GSM, the new service of segmented information ensures that customers are not inundated by unessential information but […]
Starry Nights
After weeks of frenzied speculation, maneuvering and an advertising blitz, Grant McCann Erickson clinched the campaign of the year, at the Sri Lanka Institute of Marketing quote s (SLIM) annual advertising awards last night.rnrn
Double Issue
The company plans to use the funds to help finance its two power projects in Matara and Horana. rnThe group will issue Rs. 200 mn worth of two-year unsubordinated, unsecured and redeemable debentures with interest payable semi annually.A further Rs. 200 mn worth of four-year debentures with interest payable either annually or semi annually will […]