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Pow Wow
US Deputy Secretary of State Richard L Armitage will travel to Brussels May 31 to June 2, 2004 for consultations with fellow donor co-chairs of the Tokyo Conference on Reconstruction and Development of Sri Lanka on the current status of the peace process in Sri Lanka.Other participants will represent the governments of Norway, Japan and […]
Aid Tied Down
An international donors meeting on Sri Lanka next week is expected to push for a resumption of peace talks between Colombo and Tamil Tiger rebels, the US State Department said.rnThe meeting in Brussels will be among Norway, Japan, the European Union and the United States, which are leading efforts to drum up financial aid for […]
Chit Chat
Norways top peace-broker met with a Tamil Tiger rebelrnleader Wednesday in the latest effort to revive stalled peace talks betweenrnthe guerrillas and the Sri Lankan government, the Associated Press reports.rn The government has sent the Tigers a proposed agenda for talks and thernrebels were expected to give a response to the document during their meeting […]
Comfort Zone
Leasing specialist, Ceylease Financial Services, has secured a BBB-(sri) national rating for its long term senior debt, from Fitch Ratings Lanka.A BBB-(sri) or triple B minus rating denotes a low expectation of credit risk. It reflects the firms ability to meet timely payments, but its exposure to external economic changes may impair this capacity, Fitch […]
Price Of Politics
The cash strapped Ceylon Electricity Boards large thermal plants need urgent repairs, but the utilitys tariffs are not being revised, as politicians dillydally over its financial viability.After years of behaving like a paranoid Ostrich and sticking its head in the sand whenever an awkward question is raised, the CEB finally came out with the real […]
Die or Dare
A 10-year State guarantee to buy its entire requirement of school, police and hospital uniform cloth is on offer to any investor daring to revive Kabool Lanka. Freedom Alliance Labour Minister Atauda Seniviratner says the government will also pledge Treasury approval to phase out the payment of some Rs. 160 million in outstanding statutory payments […]
Balancing Act
Sri Lankas trade deficit for March expanded marginally, as the countrys import bill galloped ahead of export earnings, the Central Bank said Wednesday.Trade deficit for March grew US$ 70 mn to US$ 223 mn in 2004, as foreign inflows from tourism, ports, private transfers and net inflows of portfolio investments eased the pressure on the […]
Green Exchange
The Banks Public Debt Dept., sought offers from the market to raise US$ 250 mn worth of Sri Lanka Development Bonds.rn rnThe Central Bank will roll over US$ 91.5 mn worth of paper when it comes up for renewal on June 28 and issue fresh bills for the balance US$ 158.5 mn. rn rnThe issue, […]
Seamless Exit
Emirates, the Dubai-based international airline, rolled out its new global electronic ticketing system last week, ushering in coupon-free travel to and from Colombo and 26 other destinations throughout its global network. This will provide Emirates passengers travelling to and from Sri Lanka with a convenient, secure and paper-less ticket option for the first time.rn rnEmirates […]
Changing Winds
Shifting its revenue balance away from interest-income, Seylan Bank will introduce new fee-based products to its current product offer. SeyLink, its version of bancassurance was launched this week in this effort, with its group company Ceylinco Life, to offer life assurance and other life related products to customers in over 60 branches.rn rnThe service has […]