Author: lbostgadmin
Adding Value
However, as always a faction continued on the lines that importation would kill the local plantations and wipe out most of the trade.On the contrary, if tea importation is allowed and with structured promotions exporters can effectively market tea from two nations. Sri Lanka is already the largest tea exporter, exporting around 20 per cent […]
Insurance Agent
Sri Lanka Insurance Corp. quote s privatisation kicked off today with the government calling for expressions of interest from local and overseas investors.rn rnPotential investors would get the management control and ownership of a stakes up to 90 percent of SLIC, with a possible option to buy the employees 10 percent shares. rnThe closing date […]
SriLankan Holidays
The airline offers a wide variety of holiday packages.SriLankan Holidays and Stopovers offers customers holiday packages of one to four days or more, in Sri Lanka. A stopover holiday package includes transfers from airport to hotel and vice versa and hotel accommodation with breakfast. Customers may opt for accommodation only or accommodation plus tour from […]
Take No Risks
SL AAendash long-term rating denotes a very low expectation of credit risk.The rating indicates a very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events, FRL said in a release on Monday. rn rnBOC quote s rating reflects its pre-eminent position as the largest bank in Sri […]
Queuing Up
Central Bank officials say J P Morgan, HSBC and Solomon Smith Barney the investment-banking arm of Citi Group have expressed interest to raise up to US$ 400 mn for the government. rnAnalysts say the government may even raise as much as US$ 500 mn if the rates are favorable. rnIn the budget the government said […]
Full Format
The agency is to be given strong debt recovery powers to clean up banks quote balance sheets jointly with the private sector, Prime Minister Ranil Wickremasinghe said. rnrnBad debts currently account for 18 percent of the banking sector quote s total loans, with only one out of six major banks meeting Central Bank quote s […]
Brick Fund
Housing Development Finance Corp., the state owned housing giant, is looking to raise Rs. 600 mn through a private placement later this year.rnrnCabinet approval has also come through to give HDFC lquote banking status quote enabling it to mobilise public deposits, CEO C A Sarathchandra told Lanka Business Online.rn rnThe housing giant is banking on […]
Lesson in Mandarin
China Airlines will carry SriLankan passengers from Bangkok to mainland China under the interim agreement.rn rnSriLankan Airlines officials said an agreement would be signed before August this year. rn rnBased on the success of the operation SriLankan will acquire a long haul Airbus to fly direct to mainland China.rn rnChina is one of the fast […]
Christmas Sale
The government plans to kick off a local and international roadshow in September to sell a key stake in Sri Lanka Telecom (SLT).rn rnThe 10 percent to 15 percent slice is the largest asset sale planned by the government, which hopes to raise around Rs. 21 bn in privatisation receipts this year. rnrnBOI chief Arjuna […]
Value Deduction
Russian buyers favouring bulk tea over packed teas has been a leading factor in the drop.Commodity brokers say this is a disappointing tu of events and feel that Sri Lanka should move fast to capture and develop other value added markets.The Tea Board has identified Japan, the European Union and Austral Asia as potential value […]
Little Push
The Central Bank quote s Public Debt Dept.has issued strict guidelines to putting minimum limits for primary dealers to bid at treasury bond auctions.rnBeginning this week, dealers are required to subscribe to a minimum 15 percent of the amount offered for each maturity at every bond auction.rn rnThe ruling come after last week quote s […]
Second Bout
Sri Lanka is pushing for trade in services including tourism, shipping, software, agriculture and port development to be included under the FTA. rnSri Lanka also looking to push agro exports in cloves and spices where locals have a competitive edge in terms of lower prices and quality goods. rnIndian help is also being sought for […]