Rapid credit and import growth are placing pressure on market liquidity, a banking source told this reporter. As a result bank deposit rates are being raised as a ploy to attract liquidity into the system so that that in turn could be lent at a higher price to meet increasing credit demand, he said. Even [...]
Not all computer generated bills are allegedly correct, as one of our readers found out the other day. Having entertained some guests at a Colombo pub last Friday , he had run up a computer generated bill amounting to Rs. 32,000 which he had paid. However, the following day when he totalled up the bill, [...]
USAID, in one of its last acts under its “Connecting Regional Economies (CORE) Programme, helped compile road signage manuals specially geared for tourism, coupled with start your tourism business (SYTB) manuals which were launched in Colombo on Monday. The CORE project valued at US$ ($) 11.3 million and spread over three years concluded last week. [...]
Economic sanctions on Iran, Sri Lanka’s biggest tea importer, have virtually crippled the industry. An industry source who didn’t want to be named told this reporter that as a result of these sanctions, leafy tippy teas, exclusively catering to the Iranian palate and which used to fetch premium prices of between Rs. 2-3,000 a kilo, [...]
Central Bank of Sri Lanka didn’t permit Wednesday’s primary Treasury (T) Bill auction to be fully subscribed, an indication that the market was asking for higher yields which CBSL/Treasury/Government of Sri Lanka was however not prepared to pay for,* a market source told this reporter. Though the amount offered for reissue of maturing T Bills [...]
Mlesna and Dilmah premium teas are found in supermarket shelves in India. This was told to this reporter by an Indian bulk tea exporter, who even exports black tea to Sri Lanka for the purpose of blending and reexport. The exporter who didn’t want to be named said that though Darjeelings fetch a premium over [...]
Government’s expenditure management simplistically put is similar to budgeting one’s household expenditure, that’s also where donor agencies such as the IMF are there for, to help governments running budgetary deficits by providing them with soft loans to fill in those gaps, whilst at the same time trying to instil fiscal and financial discipline in the [...]
Corporate activity is no longer only about engaging in business, there are various additional components that have a strong impact on corporate entities’ profit maximization ethos. Green activity, environment consciousness, natural resource consumption and productivity enhancement feature high amongst these other vital components. In an increasingly green and carbon friendly global environment, Nations Trust Bank [...]
Our nation is fortunate to celebrate the 64th Independence Day with a genuine sense of dignity about freedom. Today the national flag flutters pointing to a new country in the making. The way is open for an independent economy. It daily reinforces the nation’s aspiration for a prosperous future. It has given us freedom to [...]
Expolanka Holdings PLC sustained its consolidated NPAT for the nine months ended December 31, 2011 at Rs. 903 mn, with a consolidated NPBT at Rs. 1,186 mn. Net profit attributable to equity holders reached 768 mn. during the review period. Group’s Transportation Sector managed to sustain its year-to-date bottom-line which contributed a Rs. 1,150 mn. [...]
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