Power costs see decline
Licencees to see profits by 2015:
New tariff reforms progressive:
Production costs of electricity will decline from
2011 to 2015 and the electricity sector profitability is not too far
away, an energy sector expert said. “By 2015 ,all licencees should
report real profits and customers should be paying lower prices than
today in real terms.
Union Bank goes for IPO
Offers 15 m shares, issue opens on February 24:
Union Bank expects to diversify into capital
market related operations and also target three digit growth rate.
Union Bank has decided to go for an Initial Public Offering (IPO)
with issuance of 15 million ordinary shares to raise Rs 375 million
for the expansion of its services more to the Small and Medium
Entrepreneurs and Retailers.
More business for NITF
New business ventures to be set up in the
Magampura port premises will bring more business opportunities to
the National Insurance Trust Fund (NITF). A leading company in the
world has sought Sri Lankan Government approval to set up a vehicle
assembling plant in Hambantota.