magerata

Archive for the ‘development’ Category

Googling Magerata, Googling Sri Lanka.

In development, magerata on October 19, 2010 at 1:02 pm

Someone has expressed his thoughts on an article called “Googling Sri Lanka” (for life of me I could not find the name of the author of the article on Financial Times) which runs very parallel to mine. Parallel because I think more aggressively than him like I envision Sri Lankan exports to be $20 Billion instead of $10 Billion. But you would not know what I am talking about, unless you read the article. The article compares the past results and predicts future results, when on Googles Sri Lanka.

Googling Sri Lanka

I think every Sri Lankan should read the article, Googling Sri Lanka, which of course is oogling Magerata fro me! It might shed some light on what needed to be done as a country, than chanting dictatorship mantra. To guid people to take ownership of the country, not just what they like.

I might make some people sigh for what I am going to write in the next sentence. But I stand for my beliefs. I would rather be under a dictatorship, if there is one, than living with terrorist threats, that killed multitude of Sri Lankan people.

Financial Times article.

 

New Airbus A320s Coming Sri Lanka Airlines In December.

In development, Economy, magerata on October 19, 2010 at 9:46 am

SriLankan Airlines is getting ready for the first of the five A320s in December and another three brand new planes will be joining the fleet in May next year. I really hope I can fly in Sri Lankan Air lines, at least half way, when I come to visit Sri Lanka in December.

According to Financial times, the national carrier has said that it is acquiring seven more aircraft by end of next year. Within the order are three brand new A320s first of which will be taken delivery of in May next year. The airline recieved the last of the six A330-200s over a decade ago in June 2000. In addition to the five A320s, there will be two twin otter floatplanes joining the fleet.

“We will be celebrating an important new chapter in the history of SriLankan Airlines with the arrival of this large number of aircraft within a short period. They will allow SriLankan to significantly enhance the passenger experience on board our flights, give us the ability to fly to more cities in the Subcontinent, Middle East and Southeast Asia, and to also increase capacity to existing destinations in these regions,.. Our fleet expansion plans are constantly updated to support Sri Lanka’s rapidly growing tourism industry, while keeping in mind the financial requirements of the airline” SriLankan Airlines CEO Manoj Gunawardena said.

The new aircrafts scheduled to be acquired in 2011 will sport the latest comforts and entertainment systems including Audio-Video On Demand (AVOD) in both Business and Economy Classes.All five aircrafts including the two A320s which are to arrive in December 2010 and early 2011, would be on operating leases at very attractive terms of monthly payments.

The two Twin Otters will be used for the re-launch of the domestic service SriLankan Air Taxi this winter.

The seven new aircrafts join SriLankan’s fleet of 13 aircrafts – three A320s, five A330s, and five A340s – with a global network covering 49 cities in 31 countries. The twin-engined A320s operate to destinations in the Subcontinent, Maldives, Southeast Asia, and parts of the Middle East, while the A330s and A340s operate to the Middle East, Europe, and the Far East.

Sri Lanka Meets IMF-SBA Key September 2010 Goals

In CENTRAL BANK OF SRI LANKA, development, Economy, magerata on October 7, 2010 at 6:30 am

Sri Lanka achieves end September targets under IMF-SBA programme

Sri Lanka has successfully achieved the key September 2010 programme targets, namely, Net International Reserves (NIR), Reserve Money (RM) and Net Domestic Financing (NDF) under the IMF-SBA. This outcome indicates the successful progress Sri Lanka has made since the approval of the SBA facility in July 2009. So far, under the programme, Sri Lanka has received 5 tranches, totalling US dollars 1,275 million, out of the total facility of approximately US dollars 2,600 million.

An IMF staff mission is expected in November 2010 to conduct the next review under the SBA programme, and the sixth tranche is expected to be released on completion of same.

PDF version of the press release “Sri Lanka achieves end September targets under IMF-SBA programme” Sri Lanka Meets IMF-SBA September Goals

 

How To Pull A Milibandanana, How India And China Nudged West To Commend Sri Lanka On Handling Of The War!

In development, magerata, Politics, Postwar Sri Lanka, UN General Assembly on October 4, 2010 at 5:43 am
Let's moon Ban Ki Moon

Let's moon Ban Ki Moon

There is a fine article on Time by Amantha Perera, “How China and India Displaced the West in Sri Lanka” which explains the political power play and post war games being played in the South East Asia.

“We did not totally rely on the support of India and China, but their support did have a ripple effect” that neutralized the EU resolution” Dayan Jayatilleka, former Sri Lanka’s representative at the Security Council, has told Time.
Dayan Jayatilleka is currently a visiting lecturer at the Institute of South Asian Studies at the National University of Singapore. He approached the two Asin Power Houses for support and the result was that instead of a resolution censuring Sri Lanka, 29 members in the 47 member Council adopted a resolution commending the government. Only 12 voted against it, and six abstained.
That is how you pull a Miliband-anana.
“Having them (Norway) in our corner will to an extent neutralise western hostility,” he also has commented on the recent meeting between President Mahinda Rajapaksa and Norwegian Prime Minister Jens Stoltenberg on the sidelines of last month’s UN General Assembly sessions which could be the early signs of increasing support or waining resistence towards Sri Lanka.
All left is to pull a moon on Ban Ki Moon. You can find the Time Article Here.

Report On Sri Lanka Telecommunications, Q4 2010

In development, Economy, magerata, Sri Lankan Market Research on September 28, 2010 at 9:32 am

Business Monitor International has published an update to the Sri Lanka Telecommunications Report for fourth quarter 2010.  The new report has revised the its forecasts on Sri Lankan communication markets, including but not limited to fixed-line, internet and broadband services markets extensively with fresh data from authorities, operators and industry associations in Sri Lanka. The mobile market forecasts remain the same due to lack of data from Sri Lankas five mobile operators.

Notable are the downgrade of the fixed line growth forecasts even though with the new avenues to build communication lines in the North and East of the country. There is a positive growth but I assume it will be more visible in the year 2012 or so. The aging PSTN has been suffering and even some wireless local loops WLL, have been taken off line by some of the operators. The report believes that each of the next five years will see nominal positive growth, in contrast to our previous forecasts for steady increases to 2014 in the Sri Lankas Fixed Line Telecommunication Market.

There is some overlap with the increase of broadband lines in recent times, as both PSTN and CDMA WLL connections are increasingly being used to deliver broadband services to Sri Lankans looking to surf the net, get their daily information dose as according to the news reaching us, print news being more and more polarized. Yet the new data show that fixed broadband connections grew less strongly in 2009 than had been expected, but the market was bolstered by growing interest in Sri Lankan WiMAX and 3G/3.5G mobile telephone networks for broadband access. Data from the Central Bank of Sri Lanka suggest that there were 70,000 WiMAX/3G subscribers at the end of 2009 which, when added to fixed broadband subscriber numbers, pushes up our growth forecasts quite significantly. The analysts expect broadband penetration to reach 21.3% by the end of 2014, up from 1.2% at the end of 2009.

There is a change in the mobile broadband usage in Sri Lanka thus giving the analysts an opportunity to begin forecasting 3G service usage, which was lacking Previously.  The price wars of Mobile broadband service in 2009 helped to make 3G services more affordable, and it is believed there were 95,000 3G subscribers at the end of the year, representing 0.7% of the mobile market as a whole. The report expects 3G to account for just 2.5% of the mobile market by 2014, pointing at the cost being a major hurdle to mass market adoption.

Following is the table of contents of the Sri Lanka Telecommunications Report Q4 2010 Published by Business Monitor International on Aug 20, 2010 , spaning 78 pages;

Executive Summary
SWOT
Sri Lanka Wireline (Fixed-Line And Broadband) SWOT
Sri Lanka Mobile SWOT
Sri Lanka Political SWOT
Sri Lanka Economic SWOT
Sri Lanka Business Environment SWOT
Business Environment Rankings
Asia
Sri Lanka
Industry Forecasts
Mobile
Table: Sri Lanka Telecoms Sector – Mobiles – Historical Data & Forecasts
ARPU
Table: BMI Telecoms – Mobile ARPU – Historical Data And Forecasts (LKR)
Fixed Line
Table: Sri Lanka Telecoms Sector – Fixed Line – Historical Data & Forecasts
Internet
Table: Sri Lanka Telecoms Sector – Internet – Historical Data & Forecasts
Market Data Analysis
Mobile Market
Table: Sri Lanka Wireless Market, Q110
Table: Sri Lanka Wireless Market Net Additions, Q110
Subscriber Mix & ARPU
3G
Mobile Contract Wins
Mobile Content
Regional Outlook
Table: Asia Mobile VAS Market By Service, 2009 (US$bn)
Country Outlook
Value-Added Services Timeline
Table: Selected VAS Services
Mobile Operator Data
Table: Sri Lanka Mobile Market Overview
Table: Etisalat Lanka
Table: Hutchison Lanka
Table: Dialog
Table: Mobitel
Fixed Line
Table: Sri Lanka Fixed-Line Market, Q409
Provincial Fixed-Line Markets
Provincial Distribution of Fixed Line Phones, December 2009
Internet & Broadband
SLT
Dialog Telekom
WiMAX
Wireline (Fixed Line & Broadband) Developments
Table: Wireline Developments, 2008-2010
Regulatory Environment
Table: Sri Lanka: Regulatory Bodies And Their Responsibilities
Competition
Licensing
Table: Licences Granted Under S.17, Sri Lanka Telecommunications Act 1991 (as amended)
Interconnection
Industry Developments
Regulatory Developments
Competitive Landscape
Competitor Analysis
Table: Key Players – Sri Lanka Telecoms Sector
Company Monitor
Cisco Systems
Table: Cisco Systems: Overall Financial Performance (US$bn)
Table: Cisco Systems: Major Contracts Awarded In Asia (2010)
Operator Profiles
Sri Lanka Telecom (SLT)
Hutchison Lanka
Dialog Telekom
Regional Telecommunications Penetration Overview
Fixed Line
Table: Regional Fixed-Line Penetration Overview
Broadband
Table: Regional Broadband Penetration Overview
Mobile
Table: Regional Mobile Penetration Overview
Country Snapshot: Sri Lanka Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2001-2006
Table: Consumer Expenditure, 2000-2012 (US$)
Table: Average Annual Wages, 2000-2012
Glossary Of Terms
Table: Glossary Of Terms
BMI Methodology
How We Generate Our Industry Forecasts
Table: Key Indicators For Telecommunications Industry Forecasts
Telecoms Business Environment Ratings
Table: Weighting Of Indicators
Table: Ratings Indicators
Sources

IMF Releases the Fifth Tranche of US Dollars 212.5 million Under the SBA Facility

In CENTRAL BANK OF SRI LANKA, development, Economy, magerata on September 26, 2010 at 11:26 am
Communications Department of Central Bank of Sri Lanka has released a report from Economic Research Department regarding the IMF fifth installment,  US Dollars 212.5 million , Under the Sri Lanka Stand-by Arrangement Facility. Following is the exact copy of the text that was issued by SBSL as a M$ doc. I have converted it to a PDF , “IMF Releases the Fifth Installment Under the SBA Facility“.
IMF Releases the Fifth Tranche of US Dollars 212.5 million Under the SBA Facility
The fourth review of the Sri Lanka Stand-by Arrangement (SBA) has been successfully completed by the International Monetary Fund (IMF) and the fifth tranche to the value of  SDR 137.8 million (approximately US dollars 212.5 million) has been disbursed by the IMF on 24 September 2010.
With this disbursement, a total of US dollars 1,275 million has been received thus far by Sri Lanka on account of the SBA facility that was approved in July 2009. These disbursements as well as other inflows on account of increased international trade flows, increase in workers’ remittances, inflows to the government to finance various infrastructure development projects and inflows to the private sector have helped raise the country’s foreign reserves to a very comfortable level. Consequently, the gross official reserves (without ACU receipts) now stand at its highest ever level of US dollars 6.1 billion, which is equivalent to 5.8 months of imports.
The Letter of Intent (LOI) and the Technical Memorandum of Understanding (TMU) of SBA are now available in the web site of the Central Bank of Sri Lanka (www.cbsl.gov.lk).

IMF Releases the Fifth Tranche of US Dollars 212.5 million Under the SBA FacilityThe fourth review of the Sri Lanka Stand-by Arrangement (SBA) has been successfully completed by the International Monetary Fund (IMF) and the fifth tranche to the value of  SDR 137.8 million (approximately US dollars 212.5 million) has been disbursed by the IMF on 24 September 2010. With this disbursement, a total of US dollars 1,275 million has been received thus far by Sri Lanka on account of the SBA facility that was approved in July 2009. These disbursements as well as other inflows on account of increased international trade flows, increase in workers’ remittances, inflows to the government to finance various infrastructure development projects and inflows to the private sector have helped raise the country’s foreign reserves to a very comfortable level. Consequently, the gross official reserves (without ACU receipts) now stand at its highest ever level of US dollars 6.1 billion, which is equivalent to 5.8 months of imports.  The Letter of Intent (LOI) and the Technical Memorandum of Understanding (TMU) of SBA are now available in the web site of the Central Bank of Sri Lanka (www.cbsl.gov.lk).

Sri Lanka Monetary Policy Review – September 2010

In CENTRAL BANK OF SRI LANKA, development, Economy on September 25, 2010 at 12:29 pm

CBSL has released information on Monetary Policy Review – September 2010 and again in M$ word format. I have created a PDF document from the original, Sri Lanka Monetary Policy Review – September 2010, or you can read the text below;

Monetary Policy Review – September 2010

Market interest rates continued to adjust downwards in response to the monetary policy measures taken by the Central Bank in the recent past. The benchmark yield curve for government securities trading in the secondary market has also continued to move downwards and has become flatter in the recent months, reflecting the prevailing low inflation and the favourable outlook for inflation. Other market interest rates have, in turn, decreased. Nevertheless, it has been noted that adjustments to lending rates of financial institutions generally tend to lag behind the adjustments to their cost of funds. Hence, it is expected that market lending rates would decline further in the period ahead, to fully reflect the recent relaxation of the monetary policy stance of the Central Bank.

In response to the improving credit conditions, credit flows to the private sector continue to increase. By July 2010, credit obtained by the private sector from commercial banks recorded a year-on-year increase of 8.9 per cent. Credit disbursed by licensed commercial banks, licensed specialised banks and registered finance companies, together, recorded a year-on-year increase of 9.9 per cent, in July 2010. Credit flows to the private sector are expected to increase further in the period ahead, given that Sri Lanka’s economy is poised to grow by an encouraging 7.5 to 8.0 per cent in 2010, following the GDP growth of 7.8 per cent in the first half of 2010.

Taking into consideration the developments discussed above, the Monetary Board, at its meeting held on 21 September 2010, has decided to maintain the policy interest rates of the Central Bank unchanged at their current levels. Accordingly, the Repurchase rate and the Reverse Repurchase rate of the Central Bank would remain at 7.25 per cent and 9.00 per cent, respectively.

The release of the next regular statement on monetary policy will be on 21 October 2010.

Sri Lanka Socio-Economic Data 2010 Released.

In CENTRAL BANK OF SRI LANKA, development, Economy, magerata, Monetary Board of the Central Bank of Sri Lanka on September 21, 2010 at 6:12 am
The Central Bank of Sri Lanka has released its latest data folder, Sri Lanka Socio-Economic Data 2010.  This is the 33rd volume of the series.  This easy- to- carry data folder contains 90 Statistical Tables and 12 charts covering the latest information on socio economic conditions in Sri Lanka, human resources, national accounts, agriculture, industry, economic and social infrastructure, prices and wages, external trade and tourism, external finance, fiscal sector and financial sector.
This publication provides most recent Provincial Gross Domestic Production (PGDP) statistics for the year 2009. The volume also presents a set of country comparisons, for the SAARC and South East Asian regions, of key socio economic variables
This data folder presents a wide range of socio-economic data of current interest in summary form. Therefore, it will be very useful to policy makers, researchers, academics, professionals, students and the general public.
The Publication is priced at Rs. 100/- per copy for the English version and Rs.30/- per copy for the Sinhala/Tamil version and is available for sale at the Sales and Distribution Counter of the Central Bank at its Centre for Banking Studies, 58, Sri Jayewardenepura Mawatha, Rajagiriya, Provincial Offices of the Central Bank in Matara, Matale, Anuradhapura and Jaffna and leading bookshops.

CENTRAL BANK OF SRI LANKA, TREASURY BOND auctions held on September 13, 2010

In CENTRAL BANK OF SRI LANKA, development, Economy, magerata, Sri Lankan Rupee on September 14, 2010 at 4:35 am

Treasury Bonds of Rs.1,250 mn of 06.50 percent 2015A, Rs.2,250 mn of 07.25 percent 2016A, Rs.1,000 mn of 07.50 percent 2018A and Rs.500 mn of 06.20 percent 2020A were offered on auction basis on 13.09.2010 with the settlement date on 15.09.2010. The response was phenomenal similar to previous auctions. With offers far exceeding the amount, Rs, 5000 Million accepted.

Please see the following file (PDF) for details of the sale

The next issue of bonds is slated for 15th of september 2010; Treasury Bills of Rs. 3,000 million of 182 days, and Rs. 7,000 million of 364 days are being offered on auction basis on 15 September 2010 with the settlement date on 17 September 2010

DBSJeyaraj, KP And The State Of Affairs.

In development, magerata, Politics, Reconciliation on September 9, 2010 at 4:01 am

This post was in draft for a while and I am not sure if people will be interested in it as every one, including me, ringing the term limits bell because of the 18th amendment fiasco. But it is crucial information and first such interview with KP, Thambiaiya Selvarasa Pathmanathan, a former tiger chief.

DEBSJeyaraj had conducted a fine interview with the KP or the current leader of now defunct LTTE. The four part publication which has appeared on on the website gave much needed information into the current affairs, infightings as well as old affairs and infighting of LTTE.

Mr. Jeyaraj questions KP in an orderly manner and the flow of the subjects takes the reader through the episodes, the LTTE big honchos went about ot their 30 years of conducting terror. Even though countless lives were lost on either side, it is useless to prosecute and kill another life in the name of the peace. I am glad that KP will be spared his to conduct good work, according to him through NERDO. KP seems to capable of conducting his rehabilitation and peace process NERDO (North-East Rehabilitation and Development Organization). Follow the link if you are interested in learning more about NERDO and / or helping out those in need. I for one do not care who conducts the process but I am very interested in the results. Those boys and girls have been hurt, misguided and at worst shot at. It takes a quite a lot to bring them back.

If Karuna, could be a minister, I am sure KP could be a Peace bringer.

DBSJeyaraj’s series on KP.