Industry expectations rise ahead of budget

Investors and stakeholders voice specific concerns

By Azhar Razak

The government’s 2011 budget, which kicked off last week with the appropriation bill (first reading) being presented in Parliament, is expected to be the first step of a three-year development plan for the country.
The budget will be vital for foreign and local investors as it might signal the government’s future policy direction being the first proper budget since the end of the war in May 2009.

Conducive biz climate vital to double per capita income

By Azhar Razak
The Sri Lankan government should lay out a very conducive business environment to attract greater private sector investment, if the island is to achieve its ambitious medium term per capita income target

Hydro Power Lanka to expand with Rs. 3.5m IPO

By Azhar Razak
Joint venture mini-hydro power firm, Hydro Power Free Lanka Ltd (HPFL) said it plans to fund its planned future expansions by raising Rs. 3.5 million through its forthcoming Initial Public Offering (IPO).

Loss of GSP+ shrinks SAGTs domestic volumes

The recent decline in domestic container throughput volumes at private-run port-terminal, South Asia Gateway Terminals (SAGT) may have been partly due to the recent loss of GSP+

Leopard Sri Lanka Fund to close in Jan 2011

By Azhar Razak
Leopard Capital Sri Lanka, which postponed its self-imposed deadline of launching two funds in Sri Lanka earlier in the year, after failing to raise the required funding, is now targeting to launch one of its funds by early 2011.

Commercial banks commend deposit insurance scheme

By Azhar Razak

Sri Lanka’s commercial banks have commended the banking regulator, the Central Bank of Sri Lanka (CBSL) for deciding to implement a mandatory deposit insurance scheme from October 1, 2010 but are unsure whether they would pass the extra insurance cost to its clients.