Business

The Sri Lankan rupee gained slightly to its highest close in a year yesterday on dollar inflows from inward remittances and exporter conversions ahead of the traditional New Year, dealers said. The rupee edged up to 125.50/55 to the dollar, from Friday’s close of 125.50/70, its strongest close since April 9, 2012.

The Central Bank (CB), the regulator of both banks and non-bank institutions, has acknowledged that a section of licenced finance and leasing companies operating in the country are undercapitalized and therefore, needs infusion of new capital.

Although we are using earnings per share (EPS), an accounting measure, to illustrate the concept of earnings base, there are other measures of earnings power. Many argue that cash flow-based measures are superior. For example, free cash flow per share is used as an alternative measure of earnings power. 

Last week, we briefly enumerated the five paths companies typically follow to reconstruct their market possibilities and open up Blue Ocean possibilities. Today, we begin with discussing those paths somewhat in detail.

The Hotels Association of Sri Lanka (THASL) has charged the Ceylon Electricity Board (CEB) for singling out the hotels sector and imposing a tariff higher than the normal industry tariff applicable to industrial sector.

The number of mobile phones used by 20.8 million Sri Lankans hit over 20.3 million for the fist time at the end of December 31, 2012, Central Bank data showed.

Tea and rubber estate workers have won an 18 percent hike in their basic daily wage from April 01 effective for two years, which may cost firms in excess of Rs.250 million rupees a year, industry officials said.

Proposed revisions to electricity tariffs are an attempt by the Ceylon Electricity Board (CEB) to extract Rs. 34.2 billion primarily from Sri Lanka’s poorest consumers, according to Opposition Member of Parliament, Harsha De Silva.

In a move to further liberalize country’s foreign exchange controls, the Central Bank has granted permission to Dialog Axiata PLC (Dialog) to facilitate inward remittances via mobile phone technology, according to the Exchange Controller.

Rupee firmed to its highest close in nearly a year yesterday on high remittances and selling of dollars by exporters ahead of a festival season, currency dealers said, while stocks rose on foreign buying of bank shares.

We live in a world that is always making a deal – compromising one thing for the other. The world does...

Owners of luxury, semi-luxury and semi-luxury dual purpose vehicles will now have to pay all taxes payable to the Department of Motor Traffic (DMT) before the expiry of 60 days from the anniversary date of the vehicle registration or end of the tax year or whichever comes first.

The Colombo Stockbrokers Association (CSBA) recently launched a code of ethics and website to promote best practices and standards among its membership.

A possible global gold price crash as predicted by certain analysts, either this year or next year, has prompted Sri Lankan banks to take a more cautious approach in carrying out pawning businesses.

The second international airport in Mattala is both a challenge as well as an opportunity to strengthen the commercial aviation skies of Sri Lanka. From the inception, to speed up the progress of Mattala, it is necessary to define the personality of this airport, which has certain uniqueness.