Author: lbostgadmin
Re-dial
Dialog on Tuesday tapped HSBC for a Rs. 2.46 bn five year loan to pay back its Malaysian parent. Dialog on Tuesday tapped HSBC for a Rs. 2.46 bn five year loan to pay back its Malaysian parent. The loan carries a SLIBOR +1.4 percent interest payable over the five year period in equal semi […]
Foggy Policies
Slow port development is the threat to the local economy, not Sethusamudram, say local ship agents.Slow port development is the threat to the local economy, not Sethusamudram, say local ship agents. “Sethusamudram is not a threat to the Colombo port, if the Colombo South port, behind SAGT, is ready by 2009,” said Chairman of the […]
Next Stop
An August 01 railway fare hike will cut the commuter service’s losses by an estimated Rs.500 mn, but increasing recurrent costs could keep losses high. An August 01 railway fare hike will cut the commuter service’s losses by an estimated Rs. 500 mn, but increasing recurrent costs could keep losses high. Railway’s General Manager Priyal […]
UN says tsunami victims not properly consulted for reconstruction
Seven months after the tsunami, the UN says tsunami victims in Sri Lanka have not been properly consulted in tsunami reconstruction.Seven months after the tsunami, the UN says tsunami victims in Sri Lanka have not been properly consulted in tsunami reconstruction. “Since the tsunami last year, a greater part of post-tsunami relief, reconstruction and rehabilitation […]
Quick Fire
Prudential Assurance Ltd, is hoping its inhouse expertise to structure financial packages, will help gain a toe into Sri Lanka’s competitive insurance market.Prudential Assurance Ltd, is hoping its inhouse expertise to structure financial packages, will help gain a toe into Sri Lanka’s competitive insurance market. Prudential – no connection to the international insurance giant – […]
New roof for quoted corporate bond market
Sri Lanka’s slow moving quoted corporate bond market is hoping for better times, after hopping over to the specialised debt exchange system (DEX) last week. Sri Lanka’s slow moving quoted corporate bond market is hoping for better times, after hopping over to the specialised debt exchange system (DEX) last week. Owned by the Colombo Stock […]
Sri Lankan rupee heads down faster than expected
Sri Lanka’s exchange rate has started to depreciate faster despite the Central Bank using its reserves to defend the currency.Sri Lanka’s exchange rate has started to depreciate faster despite the Central Bank using its reserves to defend the currency. From November 2003 the Sri Lanka rupee fell rapidly as government fiscal discipline slipped and dollar […]
Lease Tease
Leasing companies and mortgage banks are raising more money through debt issues to take advantage of higher demand for credit and to cap their own interest rates. Leasing companies and mortgage banks are raising more money through debt issues to take advantage of higher demand for credit and to cap their own interest rates. However […]
Sri Lanka faces Rs. 10 bn revenue shortfall due to recent populist tax cuts
Over one and quarter billion rupees is likely to be lost due to government’s recent Value Added Tax (VAT) exemptions on milk-powder and LP Gas. Over one and quarter billion rupees is likely to be lost due to government’s recent Value Added Tax (VAT) exemptions on milk-powder and LP Gas. A top Treasury source says […]
President condemns Jaffna deaths
Sri Lanka’s President Chandrika Kumaratunga has condemned the deaths of a police official and a barber in the northern town of Jaffna Sri Lanka’s President Chandrika Kumaratunga has condemned the deaths of a police official and a barber in the northern town of Jaffna The policeman was hacked to death by a mob after a […]
‘s northern Jaffna after top policeman killed
Security was stepped up and a curfew imposed in Sri Lanka’s northern Jaffna peninsula following the murder of a senior police officer and a sharp rise of tension in the area, the military said.Security was stepped up and a curfew imposed in Sri Lanka’s northern Jaffna peninsula following the murder of a senior police officer […]
Re-routed
Sri Lanka Telecom’s tariff dispute could set the telco giant back by a few billions in profits depending on how the Appeal Court ruling against its tariff is interpreted.Sri Lanka Telecom’s tariff dispute could set the telco giant back by a few billions in profits depending on how the Appeal Court ruling against its tariff […]