Tag: lbo

Sri Lanka is in line to receive up to US$ 500 mn under the IMF quote s concessionary lending window endash the poverty reduction and growth strategy.rn rnThe team led by Jehangir Aziz also includes the upcoming Sri Lanka quote s resident representative Jeremy Carter.rn rnThe World Bank and IMF will meet in mid-October to […]

The National Physical Planning Department quote s first comprehensive development framework suggests that a massive new metropolis can be built, encompassing Anuradhapura, Polonnaruwa, Dambulla and Trincomalee.rn rnThe first draft of the policy proposal will be shortly forwarded to a high-powered inter-ministerial committee for review. rn rnThe plan is the result of a law passed unanimously […]

The Asian development bank said that it was prepared to offer a technical assistance loan to the government to draw up a blue print for assistance to the war ravaged areas of the country.rn rnOther donors together with ADB on Friday submitted a comprehensive list of on going projects in the north and east to […]

A report of summary findings of development work by the ADB, World Bank, United Nations Organisations and other NGO quote s in the Northeast is to reach the government Friday.rn rnThis will provide an update of what work has already been done to rehabilitate the area with firm pipeline plans of what the Bank is […]

rnThe World Bank recently launched a US$ 100mn Community Development Carbon Fund (CDCF) to take the benefits of carbon commerce down to the grassroots. rn rnThe Fund, launched last week, will provide carbon financing for small-scale projects in rural areas of all developing countries, the World Bank said in a release.rn rnRenewable energy, energy efficiency, […]

The Asian Development Bank (ADB) Monday committed US$ 20 million for the project implemented through the Ministry of Fisheries and Ocean Resources and the National Aquaculture Development Authority.rn rnThe project aims improve food security and reduce poverty by developing model aquaculture and fish processing enterprises that would help increase inland fisheries and aquaculture production. rn […]

The Industries Ministry says that roads dedicated for factories and associated infrastructure like housing and recreation would be set up all over the island.rn rnThe first of these roads will be developed in line with a mega industrial exhibition in the Southern Province next year.rn rnldblquote They can have their swimming pools residential accommodation for […]

The project, spearheaded by the Industries Ministry, has already begun in Nikaweratiya, with a 12-mile stretch being developed with Rs.150 mn in private sector funds.rn rnldblquote These will be dedicated industrial roads for future industrial development. The duty of investors will have their individual compounds developed in line with future needs, such as housing units […]

ldblquote We expect a resurgence of economic activity in consequence to the commencement of these talks, dblquote Prof.G. L. Pieris said in a media briefing last week. rnldblquote Soon after the talks the Prime Minister will preside over a high profile investor forum meeting in New York. The Secretary General of the UN Mr.Kofi Annan […]

Janashakthi Chairman Chandra Schaffter said the acquisition was funded through a bank loan from Commercial Bank.rn rnJanashakthi earlier, picked up a 51 percent of NIC for Rs. 450 mn. Janashakthi has also picked up the 10 percent stake gifted to NIC quote s employees.rn rnSchaffter says the balance acquisition paves the way for the formal […]

Exports fell to US$ 336 mn in June from US$ 437 mn a year earlier.Imports on the other hand slipped 9 percent to US$ 465 mn during the period, mainly due to lower imports of food and beverages, investments and defence equipment. rnThe overall result, pushed the trade deficit up by 11 percent to US$ […]

Though GST was charged at 12.5 per cent and NSL at a nominal rate of 6.5 per cent the effective rate was around 21 per cent. rnrnUnder VAT the highest rate is only 20 per cent. rnrnThe finance minister is calling on the business community not to raise prices without cause. rnrnldblquote You should consider […]