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Shop Talk
The cream of Sri Lankas business community on Thursday, failed to come up with a pressure plan to get the warring political parties to see eye-to-eye.Businessmen expressed various opinions and ways and means of pressuring the President and the Government towards a continuation of the peace process.rn rnThe Joint Business Forum (JBiz) weighted the pros […]
Taking Money
Parliament is due to pass a new law in February, to round up all financial institutions currently not governed by the Central Bank. The new system will legalise and supervise all small scale financing activity including lending and taking public deposits.rn rnCentral Bank last year named about 40 firms who were accepting deposits outside its […]
Calling Colombo
HSBC Group is pumping US$ 30 mn to set up its seventh group service centre in Sri Lanka, which will generate employment and put the country on the map as a serious contender in the global call centre business.Situated near the Chandra Silva stadium in Kotte, the call centre and back office unit would be […]
Hot Mix
Plantation companies are keen to push through a long over due productivity pegged wage formula when estate worker wages come up for negotiations in June 2004. The June negotiations will be a deciding factor for the plantations companies survival as they prepare for a tough year ahead. Work on possible productivity pegged alternatives are already […]
Washing Up
Sri Lankas two giant industrial zones, Moratuwa–Ratmalana and Ja-Elaemdash Ekela, are in urgent need of a clean up endash in Ratmalana the ground water quality is so poor it cant even be used in garment washing plants without first being treated and certainly cant be used for cooking or drinking.Finitex – a garment washing and […]
Meeting Of Minds
The Commercial Bank of Ceylon and the Ceylon Bank Employees Union (CBEU) recently entered into a Collective Agreement pertaining to salaries and other perquisites offered to two categories of staff.According to the new agreement effective retrospectively from April 1, 2003, Junior Executive Assistants would receive a 15 per cent salary increase for the first year […]
Business Talk
Business leaders from SAARC countries are calling on the governments to initiate regional cooperation to develop eight identified areas in return for greater intra-regional investment and trade. The private sectors of the SAARC countries – represented by seven leading chambers of commerce – suggest regional cooperation in the areas of trade, services, investment, tourism, agriculture, […]
Greenlight
The Colombo Stock Exchanges debt trading system is likely to take off this month, giving smalltime investors closer access to the government debt market.Seylan Merchant Bank, who became the first of the five members to get a licence, says they plan to roll out operations this month.rn rnThe DEX allows the public to buy and […]
Racing Tips
Sri Lanka Telecom is asking the government to sell the balance 49.5 percent it owns in the firm in small parcels through an international listing.Last October, the government said it hopes to sell a further stake in the telco operator and is presently exploring various exit options.rn rnSLT Chairman Thilanga Sumathipala says an international listing […]
Dont Blame Me
Free incoming calls for cellular phones have been shelved indefinitely due to the ongoing political spat, a top government minister said Monday.Telecommunications Minister Imthiaz Bakeer Markar says all mobile phone operators were ready to roll out the new tariff structure by January 1, but the current political problems have delayed the process.rn rnWhen President Chandrika […]