All Blogs
Seeing White
Setting the base for the donor meeting on November 25 in Oslo, the government is releasing a white paper outlining urgent funding needs. rn rnThe paper sets out priority areas where funding is needed including the requirements for housing projects for resettlement, road and other basic infrastructure facilities and community development projects. rn rnTo expedite […]
Stopgap
State run Bank of Ceylon has lent US$ 75 mn to the government help bridge the budget deficit.The one-year loan is priced at 192 basis points above the six-month London interbank offered rate.rn rnThe government had opted for the loan after the Treasury put off a planned roadshow to raise funds up to US$ 150 […]
Setting Sail
Colombo Dockyards heeding to the call of peace is setting sail in search of new business, looking at more challenging assignments. The company is already in the running to service off shore oilrigs and manufacture speedboats for overseas clients.rn rnCompany officials say, the halt in the 19-year ethnic conflict has given them the opportunity to […]
Short Break
The Central Bank has deferred its planned roadshow to raise dollar funds for the government.The US$ 100 mn fund raising exercise was due to kick off on Monday, but top Central Bank officials said the date has been deferred pending progress from the next round of peace talks and a recent cut in US interest […]
Higher Elevation
The Central Bank plans to raise the minimum capital requirement for primary dealers by Rs. 50 mn.Under the existing guidelines, dealers are expected to set aside Rs.150 mn in capital.rn rnThe Central Bank has told primary dealers last Friday that it is keen to raise the bar to Rs. 200 mn by next March.rn rnThe […]
Double Growth
The results, for the six months to Sept. 30 2002, again shows Emirates bucking current trends affecting the airline industry, with an operating revenue of Dhs 4.3 bn, representing strong growth of 27 percent compared to Dhs 3.4 bn in 2001, the airline said in a release Monday.rn rnEven though overall seat capacity increased by […]
Late Call
Sri Lanka Telecom on Monday pushed back its IPO debut to November 28, while finalising the issue price at Rs. 15.00.The Colombo Stock Exchange (SEC) informed stockbrokers on Monday that the prospectus would come out on November 15, while the opening the subscription list on November 28.rn rnThe CSE also approved SLTs application to list […]
Going Private
People’s Bank has engaged an international consultant B D O Binder to draft the terms of reference to get its privatisation on the road.rn rnBinder has already submitted a first draft of the terms of reference or TOR, which will be used to engage a consultant to draft an information memorandum.rn rnThe memorandum will be […]
Taxing Taxes
The government firmed up plans announced in its 2002 budget through its latest fiscal forecast on Wednesday.rn rnThe retail and wholesale trade will be slapped with Value Added Tax while the scope of the Withholding Tax was expanded.rn rnHowever, landing VAT on financial services and the continuation of the port and airport development levy came […]
Best Brands
SLIM Brand Awards organizers say the event has helped re-enforce the value of brands in the minds of local corporate leaders.Traditional accounting procedures do not really capture the value of intangibles, though such assets may be more important for modern companies than more easily measured ones.rn rnldblquote The vision behind Brand Excellence is to motivate […]