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Fly Over
Czech Airlines made their formal entry into Sri Lanka today – the new air bridge linking Colombo and Prague via Dubai with a window into Europe and the Far East.Two flights a week will service the route with Airline officials adding that most of the flight has already been sold out.rn rnThe entry of Czech […]
Dialing Out
Sri Lanka Telecom is set to open its share issue on November 12, with the listing dated scheduled for November 25. A circular to stockbrokers from the issue managers DFCC says 225 million shares or 12.5 per cent of SLT would be offered to the public.rn rnThe main board listed shares will be priced between […]
Further In Debt
Withholding tax would be slapped on corporate debt from the first of November, a treasury public notice said. rn rnSecondary market trading in debt securities is still very limited in Sri Lanka and analysts warn that this may be the final blow to any hopes of a take off in trading.rn rnWithholding tax makes secondary […]
Charging Ahead
Commercial Bank of Ceylon on Tuesday reported a 34 percent net profit growth for the nine months ending September 30.rn rnThe bank said net profits surged to Rs. 952 mn from Rs. 711 mn in 2001 due to higher volumes, prudent management decisions and the removal of a 20 percent surcharge on income tax.rn rnRevenue […]
Going Public
A November Initial Public Offering will see medical services giant Apollo Hospitals list on the main board of the Colombo Stock Exchange.Underwriters and managers to the issue, Hatton National Bank Limited (HNB) told Lanka Business Online that the Apollo IPO would open on November 8, with the listing scheduled for November 20.rn rnThe IPO will […]
Call Through
Sri Lanka quote s largest IPO was fully subscribed and closed on Friday.rn rnGovernment offered a 12% stake in Sri Lanka Telecom with an option to sell a further 3 percent stake in the case of an over subscription.rn rnOnce listed in December or early January the company will become the largest capitalized company in […]
Express Exit
The banking service was purchased outright by NTB while the foreign exchange operations will be done on an AmEx franchise.rn rnTravel services will be delivered through a newly formed joint venture with Mackinnons travels a John Keels Holdings company.rn rnNTB says the cost of acquisition of the 3 main lines of AmEx business was minimized […]
Stress On The Balance Sheet
Audry was forced to leave her job as a Management secretary due to work related stress. Her employer, a leading department store in Britain did not recognize that work related stress could affect employees.rn rnAudry suffered spells of depression and her job performance slumped.rn rnldblquote I got more and more backwards. My family life suffered. […]
To Let
Putting its restricting plans into action the Urban Development Authority (UDA) will let out two of its prime properties in Colombo on long lease to private developers.rn rnInvitations were called over the weekend to put up buildings that combine residential and commercial facilities in Chattam Street in Colombo 1 and on Galle Road, Colombo 3.rn […]
Two Proposals
Two parties had expressed interest to invest in some of the thirteen bus companies the government wants to privatise.The evaluation of the bids are underway with the sale expected to happen next Thursday through the Colombo Stock Exchange.rn rnThe potential investors however have only shown interest in up to nine of the thirteen regional bus […]