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Que Sera Sera
Sri Lanka’s Commercial Bank of Ceylon’s controversial extraordinary general meeting was abruptly called off late Thursday after its unions successfully won a stay order in the Appeals Court. The bank’s powerful unions also objected to the meeting saying it was “improper and out of order.” The bank’s powerful shareholders led by business tycoon Harry Jayawardene’s […]
Service Plan
Sri Lanka brings out national action plan to get in on the US$ 2 trillion global trade in services. Sri Lanka brings out national action plan to get in on the US$ 2 trillion global trade in services. Services account for well over half of Sri Lanka’s GDP but local systems are yet to wake […]
Deposit Slip
The District Courts on Wednesday turned down an interim order to clip business tycoon Harry Jayawardena’s shareholding in Commercial Bank. The District Courts on Wednesday turned down an interim order to clip business tycoon Harry Jayawardena’s shareholding in Commercial Bank. The interim order was sought by Unions representing Commercial Bank employees, who argue that Jayawardene […]
Stuck in Traffic
Transport sector analysts say the government’s latest strategy to introduce air-conditioned double-decker buses and add 2000 forty-seater buses will not help ease the urban traffic problem.Transport sector analysts say the government’s latest strategy to introduce air-conditioned double-decker buses and add 2000 forty-seater buses will not help ease the urban traffic problem. Proposed fleet increases and […]
Cheque It Out
Sri Lankan politicians love to hold Singapore up as a role model for economic prosperity.But come Nov. 17, politicians will have something to crow about, when campaigning for this month’s presidential poll – though the subject matter is esoteric, like cheque truncation.Sri Lankan politicians love to hold Singapore up as a role model for economic […]
Sri Lanka’s Oct. annaulised inflation slips
Sri Lanka’s inflation rate for October eased marginally to 12.5 percent due to a price reduction in some food items, the Census & Statistics Board said Monday. Sri Lanka’s inflation rate for October eased marginally to 12.5 percent due to a price reduction in some food items, the Census & Statistics Board said Monday. Authorities […]
Flying High
Sri Lanka’s Commercial Bank said Monday that it posted a 50 percent growth in post tax profits for the three-months to Sept 2005.Sri Lanka’s Commercial Bank said Monday that it posted a 50 percent growth in post tax profits for the three-months to Sept 2005. Group net profit for the third quarter was Rs.827.4 million […]
At a Rate
Lanka Ratings, the second credit ratings firm to offer ratings in Sri Lanka says adoption of BASEL II rules and making credit ratings mandatory for financial institutions is likely to create activity in the sector.Lanka Ratings, the second credit ratings firm to offer ratings in Sri Lanka says adoption of BASEL II rules and making […]
PC Power
Information technology penetration is rather low in Sri Lanka despite most of the population being able to read and write. Information technology penetration is rather low in Sri Lanka despite most of the population being able to read and write. The Information Communications Technology Agency or ICTA is trying to change this by helping rural […]
Millennium Growth
Millennium IT (MIT) that established a niche for it self in the area of capital market enabling software says they will offer a new product soon that will link revenues to transactions of their clients.Millennium IT (MIT) that established a niche for it self in the area of capital market enabling software says they will […]