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State run National Savings Bank stepped into the lucrative US$ 1.5 bn foreign worker remittances market by offering savings and fixed deposit products. State run National Savings Bank stepped into the lucrative US$ 1.5 bn foreign worker remittances market by offering savings and fixed deposit products. So far, the savings giant has been picking up […]
Makeover
Sri Lanka Telecom says it has appointed MTI Consulting to ‘dress up’ its brand, following an intense global round of competitive bidding.Sri Lanka Telecom says it has appointed MTI Consulting to ‘dress up’ its brand, following an intense global round of competitive bidding. MTI’s task is to take this ‘Legacy Brands’ up to the next […]
In the Dark
Power politics is pushing the Ceylon Electric Board (CEB) into a financial crisis with debts mounting and no increase in revenues. Power politics is pushing the Ceylon Electric Board (CEB) into a financial crisis with debts mounting and no increase in revenues. Government dithering on reforms has put the CEB’s debt restructuring in limbo and […]
NGOs to register with govt., to help state better coordinate relief work
The Finance Ministry Wednesday set up a new office under its External Resources Department (ERD) to coordinate non-government organisations (NGO) post tsunami aid activities. The voluntary signup, ERD’s Kishan Theodore said, would help avoid duplication of effort and spread available resources around all affected areas. “Non-Governmental Organisations are encouraged to obtain the agreement of the […]
Tsunami a blessing in disguise for Sri Lanka’s economy
The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which had been heading for a major catastrophe, according to analysts.The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which […]
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Sri Lanka’s key lenders will hold fresh talks with Tamil Tiger rebels to assess tsunami damage amid hopes of finalising a reconstruction plan estimated to cost 1.5 billion dollars, officials said Sri Lanka’s key lenders will hold fresh talks with Tamil Tiger rebels to assess tsunami damage amid hopes of finalising a reconstruction plan estimated […]
Cabinet clears proposal for duty free imports for hotels damaged by the tsunami
Government lifts import duties temporarily on reconstruction material and vehicles for tsunami damaged tourism companies.Government lifts import duties temporarily on reconstruction material and vehicles for tsunami damaged tourism companies. Hotels damaged by the tsunami can import reconstruction material free of all import duties, said the Ministry of Tourism on Tuesday. “Cabinet has approved, on principle, […]
Not Funny
Depositors and creditors of the failed Pramuka Bank sought legal action on Tue demanding Rs. 6 bn as damages from the regulator, the auditors and directors. Depositors and creditors of the failed Pramuka Bank sought legal action on Tue demanding Rs. 6 bn as damages from the regulator, the auditors and directors. The District Court […]
Water Works
Australia is giving away 70 water purifiers, each worth A$ 5,000, to tsunami affected communities. Australia is giving away 70 water purifiers, each worth A$ 5,000, to tsunami affected communities. “Initially we are hoping to introduce 70 units but there would be more later,” said Adrian Cohen from the Australian medical risk management company, Immediate […]
‘s economy
The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which had been heading for a major catastrophe, according to analysts.The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which […]