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SLT quote s Japanese partners Nippon Telegraph & Telephone Corp. (NTT) have also expressed willingness to increase its present 35 percent holding to 40 percent through its various associate companies, during the public issue, PERC sources said. rnThe government had earlier planned to list the fixed line monopoly through a combination of an international and […]
Easing Up
Money brokers are expecting a benchmark repo interest rate cut towards end April, due to twin effects of the IMF disbursement and improved liquidity in the money market following the festive season.Some even speculate that the Central Bank may announce the rate cut immediately, in order to give a clear signal to the market ahead […]
Loosening Up
Recently, several commercial banks have pointed out the severe restrictions imposed by the forex holding limit, impedes the growth of a local derivatives and futures market. rnrnThe Central Bank has considered these concerns and plans to replace the restriction on holdings with a risk based capital requirement, as a prudence measure to prevent capital been […]
New Head
Gunaratne is a Chartered Accountant by profession and presently is the Chairman of Sevanagala Sugar Industries. rnrnSevanagala Sugar, is in the process of being privatised with the government selling its 90 percent stake. Four parties have been shortlisted. rn
Ganu Denu
The Board has also approved Sri Lanka quote s request to extend the period of the current programme by two months to August 19 2002. rnrnThe Sri Lankan Government resorted to an US$ 253 mn stand by arrangement with the IMF early last year following a steep drop in official reserves and free float of […]
Capitalist Rebels
The rebel group quote s theoretician Dr.Anton Balasingham explaining his leader quote s stand said, ldblquote economic policy would be based on the open market system. [But] We can only think about the economic structure, after the conflict is resolved dblquote . rnrnThese statements are expected to somewhat mitigate the Sri Lankan business communities anxiety, […]
Holding Firm
Three-month notes dropped one basis point to 12.93 percent, six month bills slipped one basis point to 12.97 percent and one year treasuries lost four basis points to 13.74 percent. rnrnDealers say rates have held firm, despite a Rs. 7.8 bn liquidity crunch on seasonal demand. rnrnDealers expect the shortfall to ease after the New […]
Sticking To It
Cellular operators stuck to their guns to go ahead with a tariff increase, despite the telecom watchdog hotly denying the revision got its approval. rnMass Communications Minister Imthiaz Bakeer Markar also stepped into the fray to stand by his regulator, telling parliamentarians that the controversial revision was illegal. rnrnCellular operators raised tariffs yesterday, after informing […]
Three Year Truce
The two agreements will lay a foundation on which future growth plans can be built, CEAT-Kelani Associated Holdings Managing Director V. Sekhar said. rnrn”With active technology support and assistance from CEAT India, the CEAT tyres in Sri Lanka have been re-designed for enhanced performance and coupled with an aggressive pricing strategy. CEAT-Kelani is now poised […]
Ripping Spree
An lquote anti-piracy strategy quote is on the cards as a counter offensive to pirating, promoting fair market access and adequate copyright laws. rnrnWatchdog arm of the Recording Industry Association of America (RICCA), the IFPI, an international organisation battling music piracy worldwide, has turned its efforts to Sri Lanka. rnrnThe organisation quote s Regional Coordinator […]