Category: Industry
Slow Pace
Reconstruction of tsunami-hit infrastructure and homes along Sri Lanka’s ravaged coast has been delayed because pledged donor aid is only trickling in and relief agencies are still discussing plans, the government says.Reconstruction of tsunami-hit infrastructure and homes along Sri Lanka’s ravaged coast has been delayed because pledged donor aid is only trickling in and relief […]
BTT or Not?
Stiff political opposition stops Sri Lanka’s key local body from raising taxes by four percent, for the first time in 15 years.Stiff political opposition stops Sri Lanka’s key local body from raising taxes by four percent, for the first time in 15 years. The Western Provincial Council – which controls over 50 percent of Sri […]
Fresh Aid
Japan is finalising a US$ 100 mn tsunami soft loan for Sri Lanka’s reconstruction work, expected to come through by mid next month.Japan is finalising a US$ 100 mn tsunami soft loan for Sri Lanka’s reconstruction work, expected to come through by mid next month. The soft loan will be over and above US$ 80 […]
Indian Rumba
Merchant Bank of Sri Lanka is believed to be in serious talks with India’s SBI Capital Markets Ltd to expand its corporate banking activity.Merchant Bank of Sri Lanka is believed to be in serious talks with India’s SBI Capital Markets Ltd to expand its corporate banking activity. MBSL has been on a roll over the […]
Oil Troubles
Volatile global oil prices could force the government into a funding squeeze in months, as it tries to pay a growing import bill while refusing to raise local prices.Volatile global oil prices could force the government into a funding squeeze in months, as it tries to pay a growing import bill while refusing to raise […]
Aid Report
Sri Lanka has received a total of Rs.9.8 bn (Rs. 9812.5 mn) in tsunami aid as at March 10, from governments, non-state agencies and others as private, foreign and local donations, the Central Bank said.Sri Lanka has received a total of Rs. 9.8 bn (Rs. 9812.5 mn) in tsunami aid as at March 10, from […]
Switching Places
Consumer goods retailer Singer (Sri Lanka) Ltd plans to switch some of its expensive short-term debt with a Rs.400 mn four-year debenture issue in April.As at end 2004, Singer’s long-term debt stock stood at Rs. 1.3 bn, but the company is keen to lock in inexpensive funds taking advantage of present low interest rates. Short […]
Call Waiting
The ICT Agency on Friday said it has suspended its regional telecom network licensing process as per Tuesday’s court injunction taken out by the seven network operators.The ICT Agency on Friday said it has suspended its regional telecom network licensing process as per Tuesday’s court injunction taken out by the seven network operators. Network operators […]
UK based Global Towers opens its flagship hotel on the coast, but says buffer zone could hold up Rs. 1.5 bn in new investment.
UK based entrepreneurs Global Lanka Holdings opened its flagship hotel in the heart of the city, but says the new 100 m buffer zone could hold up Rs.1.5 bn in future investment. UK based entrepreneurs Global Lanka Holdings opened its flagship hotel in the heart of the city, but says the new 100 m buffer […]
Going Steady
The Central Bank on Wednesday said it will actively absorb liquidity from the financial markets to curb inflation in the coming months.The Central Bank on Wednesday said it will actively absorb liquidity from the financial markets to curb inflation in the coming months. The bank however left its key short term interest rate unchanged for […]
Wrong Doing
The Asian Human Rights Commission (AHRC) is urging the government to come up with alternatives for tsunami victims living in increasingly unbearable conditions in temporary shelters. The Asian Human Rights Commission (AHRC) is urging the government to come up with alternatives for tsunami victims living in increasingly unbearable conditions in temporary shelters. The Hong Kong […]
Tourist arrivals in Feb slump 16 percent over last year, though emerging markets grow.
Tourist arrivals in February saw a 16 percent slump over last year at 36,000, as visiting relief workers go home and holiday makers’ trickle back.Tourist arrivals in February saw a 16 percent slump over last year at 36,000, as visiting relief workers go home and holiday makers’ trickle back. India continued to drive the numbers […]