Author: lbostgadmin
Fighting for Custody
Fitch Ratings Lanka quote s CEO is flying out on a rescue mission to try and salvage an impending divorce from its US partner Fitch IBCA.
Talking Terms
iOnosphere, set up shop last July with a US$ 2.5 mn investment to provide high end internet services.A further US$ 1.5 mn was expected to come in during the next stage of the project. rnrnAnura de Silva, iOnosphere quote s CEO told Lanka Business Online that a number of local and foreign parties have expressed […]
Broad Portfolio
SLT hops to test the viability of the system in the Slave Island before moving to other areas. rnrnThe Asymmetric Digital Subscriber Line (ADSL) will give users a connection of up to 2 Mbps for uplink and 512 Kbps for downlink.rn
Hungry For More
The bank has already expressed intentions to the top management of two Colombo based commercial banks, Citibank quote s CEO Kapila Jayawardena told Lanka Business Online in an interview today. rnrnldblquote We are not interested in acquiring a branch network. It is more in terms of a portfolio purchase to expand our local corporate base […]
Over Selling
The euphoria poured over to today trading, taking the benchmark All Share Price Index up 3.39 points to close at 570.08. The bluechip tracker, the Milanka Price Index closed at 923.38 up 7.34 points from last Friday Brokers said that the market had no choice but to turnaround, as it was getting a little too […]
Getting Closer
The agreement on Administrative Arrangements for Cooperation sets out the framework and processes that will lead to better coordination and division of labor among the institutions in providing assistance to the Asia-Pacific region, ADB said in a release today. It emphasizes closer consultation on country assistance strategies, the elimination of duplication of efforts, the harmonization […]
Closer Look
The Lloyd quote s Underwriters Association secured their services as a precursor to remove the remaining war risk premiums on ships calling at the Colombo port. rnrnThe audit is expected to take five days and the report is due a week later. Lloyds is expected to make their decision thereafter, shipping sources said. rnrnThe consultants […]
Filing for Divorce
Fitch IBCA, the US partner of the local rating agency Fitch Ratings Lanka Ltd (FRL) plans to pull the rug under its Sri Lankan operations.
Pay By Cheque
A sweeping set of tax reforms, including ban of all cash transactions over Rs.100,000, aimed at improving government revenue, are expected to be proposed by the Ceylon Chamber Of Commerce (CCC) to Treasury Secretary Charitha Ratwatte today. rnrn
Lal quote s Charms
ldblquote Everything has been sorted out.We are starting work tomorrow dblquote , a member of restructuring management team told Lanka Business Online. rnrnThe 13-member restructuring management team returned to work today, for the first time since union activists unceremoniously ousted them on December 28. rnrnThey attended Nanayakkara quote s takeover ceremony this morning and were […]
Last Call
The ministry last week announced a six-month moratorium on parate executions but stopped short from adjusting the provisioning requirements of all banks. rnrnldblquote This is the first and the last time we are appealing to all banks, dblquote Deputy Finance Minister, Bandula Gunawardene told reporters. rnrnldblquote We don quote t want to damage the lending […]
Slipping
Treasury bonds continued to slide at this week quote s auction with three-year notes shedding three basis points to 14.30 percent, the Central Bank said.