Category: Industry
Last Mile
A meeting today had assessed proposals forwarded by the three short listed consultants.rn rnOfficials say they would seek further clarification on certain proposed measures included in the proposals on Monday before they meet again next week. rn rnThe second and probably the final meeting on the issue is scheduled for mid next week.rn rnSLT officials […]
Fine Line
Sri Lanka Insurance Corp. quote s (SLIC) controlling stake in Commercial Bank may come up for grabs when the insurance giant is sold off this year.rn rnSLIC currently owns 29.91 percent in Commercial Bank, which is worth around Rs. 659 mn as at Dec. 31, 2001. The DFCC Bank is the next highest shareholder of […]
Looking Offshore
Insurance industry has been lobbying for this facility for many years, due to the dearth of long-term investible products and fluctuating local interest rates. rnrnldblquote Until the capital account is fully liberalised, we can only help out individual companies, provided they lobby their case effectively, dblquote Exchange Controller, H A G Hettiarachchi told participants at […]
Broad Bell
CEO, Joey Mendoza says the edge would be its pricing and exceptional speed.A combined levy where the internet tariff and the phone tariff are coupled could also be introduced he says. rn rnThe service will initially be limited to Lanka Bell customers before being opened up as a standalone service. rn rnMeanwhile, the company today […]
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 […]
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 […]
Easy exit
The Ceylon Chamber of Commerce has urged the Government to make exits for failed companies easier whilst making useful recommendations on the new Company Law as well stressing the need for proper dealing of bankruptcies.