Category:
Open Sesame
The Fund quote s Executive Board would decided when to release the balance funds, once it evaluates the budget proposals for fiscal reforms that are mainly aimed at lowering the deficit, IMF quote Jeremy Carter said in an interview today. rnrnThe balance is likely to come in two equal tranches, one immediately after the budget […]
Not Yet
Referring to our recent story on JKH, Fitch says: ldblquote The report gives the impression that the meeting between JKH management and FRL analysts was related to impending rating decision with regard to the ldblquote Rating Watch quote currently placed on the company quote s SLAAA rating.Although lquote Rating Watch quote does indicate the possibility […]
Get Going
The Council quote s former Chairman Rohan Masakorala told Lanka Business Online that it appears that the London underwriters were dragging their feet on the issue, despite favourable recommendations from the independent foreign security auditors. rnrnldblquote We asked the Minister to lead a delegation to at least waive the surcharge on Colombo and Galle. At […]
High Fever
The repo-rate or the repurchase rate is the key benchmark, which sets the floor in the overnight call money market, as it enables lenders to invest excess funds in treasury bills and bonds held by the Central Bank (i.e. at near zero risk). It is also the Central Bank quote s main instrument of signalling […]
Book Sale
The company said Singapore based Stamford Press (Pvt) Ltd has shown an interest to acquire Lake House Bookshop quote s assets. rnldblquote Stamford Press has submitted an offer and the Board of Directors are finalising the negotiations, dblquote Lake House said in a statement to the Colombo Stock Exchange today. rnLake House Investments has been […]
Standing Tall
Group turnover grew 21.6 percent or Rs. 553 mn to Rs. 3.1 bn during the period under review. rnrnHowever, the bank quote s net interest income during the third quarter has been lower than the second quarter, due to the sharp reduction in market interest rates. rnrnThe bank says a fall in market rates resulted […]
Looking Pale
Trade data for the first 12 months of 2001 shows the deficit has narrowed down to US$ 1.157 bn, as against US$ 1.798 bn deficit during the same period in 2000. rnThe deficit narrows further to US$ 1.500 bn when the trade data excludes the value of three SriLankan airlines aircrafts imported during the same […]
First Steps
The bank quote s CEO Nihal Jayawardene declined to give the quantum required, but said they were on the look out to private investments. rnrnMERC Bank plans to achieve a break even by mid 2003 and current performance is in line with the target, Jayawardene told Lanka Business Online in an interview. rnrnThe bank is […]
Holy Insurance
Takaful is a mutual assurance service based on Islamic finance principles.rnInvestments of the insurance funds are placed in non-interest bearing instruments such as bullions, financing or equities that are permissible in Islam. rnAmana presently has a partnership with Takaful Malaysia, which is a formally regulated company in Malaysia. rnrnThough Amana Takaful was recognised under a […]
Conference Call
The move comes after the government announced yesterday it was renegotiating SLT quote s management contract with Nippon Telegraph & Telephone Corp. (NTT) of Japan. rnrnldblquote The announcement is part of a plan to restructure SLT, dblquote Chairman Thilanga Sumathipala said. rnSLT loses its monopoly on local and international calls in August, and Sumathipala says, […]
Buying Rights
Despite as many as 4000 consumer rights groups floating in Sri Lanka, most are inactive, hindered by a lack of sufficient funding. rnrnLobbyists have come forward with suggestions that a welfare fund be set up making it mandatory for consumers to contribute to the fund. rnrnldblquote Just like other taxes GST or NSL, we are […]
Big Steps
The bank has amended the existing legislations and created separate categories for commercial banks and non-commercial banks. rnrnThe new guidelines which came into effect from February 1, requires new dealers to set aside minimum Rs. 150 mn in capital. rnrnCommercial banks have to maintain the capital in a separate fund known as Primary Dealer Special […]