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Three finance companies seek registration

Three unregistered finance companies have responded positively and have shown interest in registering with the Central Bank.

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BoC goes for Rs. 3b Debenture Issue

Bank of Ceylon will go in for a Rs. 3 billion Listed Debenture issue where 50 million unsecured subordinated redeemable debentures will be offered.

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Central Bank reduces Statutory Reserve Requirement

As a move to release liquidity to the market, the Central Bank of Sri Lanka has decided to reduce the Statutory Reserve Requirement (SRR) on all rupee deposit liabilities of commercial banks by 75 basis points to 9.25 per cent effective from the next Reserve Week commencing 17 October, 2008.

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For the first time Texstyle Lanka Limited a BoI venture, is manufacturing clothing products to the Ministry of Defense in the United Kingdom. The company produces sophisticated safety, military, aerospace and survival clothing with high added value. Here some workers engaged in the manufacturing process. Picture by Saliya Rupasinghe

• Global crisis hits Japan

• Chandula to speak at SEEP Summit in Washington

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• USA had recorded huge trade deficits : World financial crisis and Colombo Stock Market

• SLT Broadband Twenty20 Promo Grand Draw held

• BOI Project to manufacture stainless steel sinks under Nipayum Sri Lanka Programme

• Tea With : People’s attitude, key to economic success