All Blogs
Air Wars
Attempting to break a stalemate over the management agreement of Sri Lankan Airline quote s, a team from Emirates is due in Colombo tomorrow for another round of talks with the government.
Dropping Anchor
The proposed developments are estimated at US $ 140 million for the construction of two 20 meter berths.Once complete the Galle Port will be able to service up to 40,000 TEU vessels. rnrnSpeaking to Lanka Business Online, Shipping Minister Rauf Hakeem said the project was being held back only due to a lack of funds. […]
Thallu Start
The management of the 11 cluster bus companies will be restructured on a 50:50 government/private basis, State Transport Minister said. rnrnThough 50 percent state owned, the private investor will also get the management contract, says Minister Upali Piyasoma. rnrnWork on partially privatizing the railways is also steaming ahead under the guidance of a foreign consultant, […]
SLIC Sale
The Public Enterprises Reform Commission (PERC) is to call for Expressions of Interests (EOIs) to dispose the government quote s controlling stake in Sri Lanka Insurance Corp.by mid-July.rn rnPERC says that it has now commenced the process of privatising SLIC by appointing a team of both international and Sri Lankan advisers led by PricewaterhouseCoopers to […]
Band Aid
The extra addition is estimated to cost around Rs.680 mn, and the firm plans to raise the money through a combination of preference shares to existing shareholders and public offering, its Chairman Dr. Prathap C Reddy told Lanka Business Online. rnrnHatton National Bank (HNB) has secured the mandate to raise the funds at a Rs. […]
Cock Fight
AirLanka International will contest the case against the company filed for using the former name of the national carrier.
New Faces
There has been a positive response to Central Bank quote s call to expand the government securities market by issuing new licences.rn rnThe bank quote s Superintendent Public Debt, Dharma Dheerasinghe told Lanka Business Online that lquote a few parties have already submitted their applications. quotern rnrnMarket watchers speculated that the new comers include Peoples […]
Final Issue
The two-year bond will be linked to the six months London interbank offered rate or LIBOR.rn rnThe government last year said it was raising up to US$ 250 mn through the bond issues to help bridge the yawning budget deficit. However, only US $ 158.5 million two year bonds were issued.rn rnEarlier this year in […]
Affinity With Nalanda
The use of the Nalanda College Affinity Card by cardholders will help expedite the construction work of the proposed sports complex for the school because each time the card is used 0.1 per cent of the total value of transaction goes to the Old Nalandians Sports Development Trust Fund, the banks said in a release. […]
Hard Talk
ldblquote It is vital that fiscal programme remains on track to ensure that the overall budget target of 8.5 percent of GDP is not exceeded, while protecting pro-poor spending, dblquote IMF quote s Deputy Division Chief (Asian & Pacific Dept.) Jeremy Carter said addressing delegates at the Sri Lanka Development Forum today. rnrnCarter urged the […]