Tag: lbo

The governments privatisation arm is throwing its doors open to the local investment banking community to help them out as financial advisors for upcoming privatisation issues.The Public Enterprise Reform Committee (PERC) says the move, will pave the way for merchant banks, investment arms of foreign banks and certain foreign consultants to take a look at […]

The private sector will absorb 5,000 unemployed graduates under a revamped graduate assistance programme. The Sarasavi Saviya Programme, the successor to the PA governments Tharuna Aruna project, is being planned to provide up to 10,000 jobs under the first phase due to end by December 2003.rn rnMinister of Employment and Labour, Mahinda Samarashighe told reporters […]

The Board of Investment is forging ahead with a colossal restructuring effort, with UNDP stepping in, to guide the re-haul the top investment promotion vehicle into a leaner, more efficient structure.Non-core functions like zone management and regulatory services are to be spun off separately, with the BOI narrowing its focus to key areas like investment […]

International donors to the country are trying to set up a mechanism through, which the LTTE could directly get involved in aid disbursement to the North and East.Japanese envoy Yasushi Akashi told the press that they hope to identify a mutually acceptable solution to this problem soon.rn rnldblquote We hope they will work in such […]

Sri Lankas trade deficit for the first seven months of this year shrank to US$ 824 mn as the countrys import bill galloped ahead of export earnings.The Central Bank said on Friday that cumulative export earnings during the period rose 18 percent to US$ 2.871 bn, while the import bill picked up by eight percent […]

Japans special envoy Yasushi Akashi says the government and the LTTE need to resume talks urgently. Akashi said the donor community is expecting the two parties to resume talks within the next few weeks.rn rnAkashi made his observations at the close of the first follow up meeting to the Japan donor conference in June. rn […]

The Asian Development Bank, on Tuesday finalised plans to raise its lending assistance to Sri Lanka to US$ 700 million over the next three years. The extended assistance is part of the Country Strategy and Program (CSP) for 2004-2008, approved by ADBs Board of Directors.rn rnThe proposed lending level represents a $100 million increase over […]

Malaysian investment volumes of Rs. 2.5 bn are projected to grow by 100 percent after successful investment promos in Kuala Lumpur recently, the Board of Investment said Thursday. The trade seminars attracted some 700 Malaysian businessmen, with a great deal of interest from Penang, the countrys software nerve center. rn rnSeveral Malaysian investors have approached […]

The International Monetary Fund says it will delay releasing the second US$ 80 mn installment next month, as the government has missed two of its targets.The government signed up for a US$ 567 mn structural adjustment facility in April this year under the Funds poverty reduction and growth facility or PRGF.rn rnThe initial US$ 81 […]

State Engineering Corporation officials say its role has to change from a construction company to a foreign market oriented skills development centre.The plan also requires the Corporations to continue under state ownership.rn rnThe proposal falls within its restructuring plan handed in to policy makers who have tagged the Corp., for privatisation. rn rnChairman, Ariyaseela Wickramanayake […]

The United Nations Development Program said Thursday, that they will strengthen ongoing de-mining efforts in the North, with a technical assistance grant of US$ 3.2 mn. Since a ceasefire 19 months ago, there has been humanitarian mine assistance to remove some 1.5 mn landmines still lying buried in private and fertile agricultural lands in the […]

The Treasury is selling its residual stakes in 19 firms, 14 of them through the Colombo Stock Exchange. At current trading prices, the stakes in 13 of the 14 listed firms are worth Rs.194.6 million.rn rnThe larger parcels of the listed shares and the five unquoted firms will be sold on an all or nothing […]