Category: Other
Health Check
The insurance regulator is studying the possibility of setting up a National Health Insurance scheme that could cover the islands entire population.The Insurance Board of Sri Lanka (IBSL) is in the process of studying the possibilities of setting up such a nationwide insurance scheme.rn rnThe government through budget allocations, funds most of the countrys health […]
Spruced Up
The governments privatisation arm is streamlining its internal processes and plans to list more state corporations on the Colombo bourse to spur capital market development.A quotation on the Colombo Stock Exchange infuses financial discipline, corporate governance and adds value to the transaction, says Manjula de Silva, Director General of the Public Enterprise Reform Commission.rn rn”It […]
Dream Homes
Its fashionable to have an address at one of Colombos plush apartments these days. The government has fuelled the apartment craze by pushing lending institutions to offer cheap credit to meet the shortage of houses. As a result, price to rent ratios for apartments are currently topping 21 times. The sky-high rents are expected to […]
Road To Tooting
Colombos congested roads are not getting a break, with 3,000 new vehicles hitting the streets every month. Most of it is in the capital. Tax and excise on vehicle imports is a top revenue generator for the government. But critics say the countrys road infrastructure could soon start bursting at the seams if the current […]
Hot Teas
Ceylon Tea Services is calling on the government to support a common brand name for the tea trade, through a package of incentives similar to the early 1980s offer.The Dilmah brand rode off the support given in the 1980s programme, today to become a leading international brand. Company officials say it is still not too […]
Re-Planning Colombo
Over US$ 300mn in Foreign Direct Investment is expected by the end of the year, one of the highest inflows during recent years. The national investment promotion agency BOI says that the country is now attracting investments from all over the world with strong inflows from the Asian region.rnStrategies to attract investments are also seeing […]
Light Readings
Half the countrys population has electricity supplied by the main power grid. Authorities say they plan to raise this level to about 80 percent of the population within the next few years. However, drawing power lines to rural areas far from main cities is going to be difficult.rn rnExperts say that alternative ways to light […]
Sunnytimes Ahead
Earnings for Taj Lanka Hotels Ltd., the owners of Taj Samudra Hotel in Colombo and Taj Exotica Hotel in Bentota, are expected to top Rs.155 mn for the financial year 2003/4.rn rnLanka Orix Securities in a research report says Taj Lanka Ltd will also greatly benefit from the ongoing tourism boom and falling interest rates, […]
Hot Cuppa
Plantation companies are feeling the pinch in profits due to restricted cash flows and high input costs, leaving little to plough back into replanting and development. Most estates have been plagued by high labour costs following a wage increase last June and persistently low prices for tea at the auctions. Costs of production have grown […]
Next Step
Pramuka Depositors warned of possible legal action for damages against Central Bank, KPMG Ford Rhodes & Thornton and the bank management, if authorities proceed with the liquidation of the bank as the deadline for expressions draws close.ldblquote We will sue Central Bank who did not take action for three years and the auditors who endorsed […]
Hidden Gems
Following BCGs recommendations, JKH is building a new property development unit to push up returns from its extensive real estate holdings.rn rnWith a free float adjusted market capitalisation of US$ 157.9 mn after its recent bonus issue, JKH now qualifies to climb aboard the Morgan Stanley Capital Indexs Emerging Markets Index, says Hasitha Premaratne, Research […]
Shining Star
Following the legacy of the famous De Beers diamonds and Tahitian pearls, is a test bed range of branded lquote Sriya Ceylon sapphires, as Sri Lanka stakes its claim in world gem markets. Developed by a British designer and collectively sponsored by industry, this is Sri Lankas first attempt to brand its high quality and […]