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Let There Be Light
It is beginning to look a lot like Christmas; certainly’85 for traders down Main Street. Traders of Main Street in Colombo Fort have decided to keep shops open till midnight and have lighted up the street to draw more Christmas shoppers in an effort to fight against the plush shopping malls and the satellite shopping […]
Alternative Current
The Ceylon Electricity Board (CEB) is likely to develop the 40 MW Broadlands hydro power plant instead of allowing a private company to do it as planned earlier, a CEB official said.Broadlands is one of the last Laxapana cascades and is significant in terms of power generation, water management and irrigation, according Ranjith Fonseka, AGM […]
On Hold
Capital market regulator SEC is holding back approval of Nawaloka Hospital IPO over the company decision to pre-allocate two thirds of the issue.SEC Director General told LBR they are talking to the company about its intention to pre-place Rs. 200 million worth of shares from its planned Rs. 300 million IPO.rn rnSEC Director General said […]
Close Tabs
The insurance watchdog is seeking Finance Ministry approval to start a dedicated insurance supervision division.Presently, the Insurance Board of Sri Lanka (IBSL) has only two consultants on its cadre. The rest are shared with the Securities & Exchange Commission (SEC) secretariat.rn rnldblquote A dedicated insurance unit within IBSL will enhance the effectiveness of supervision, dblquote […]
Dumping Point
The Ministry of Environment is looking at introducing a new system to manage the disposal of environmentally dangerous electronic items like computers and mobile phones.ldblquote We are right now doing a research to develop a policy where the agents or the producers of certain electronic items will be held responsible for the disposal of these […]
No Attachments
The Rs. 1bn will be allocated as an outright grant for rehabilitation and reconstruction in 2004, Niranjan Deva Aditya EU Parliamentarian said in a statement this week.rn rnLast years EU budget for Sri Lanka was Rs. 2 bn. In addition Sri Lanka received Rs.1.5bn in Aid of displaced people and Rs.1bn under the Humanitarian Office […]
Cherry Picking
Peoples Banks restructuring committee is likely to be choosy in its search for a strategic partner who will inject capital to the bank.ldblquote It wont be an open tender process, dblquote Bank Chairman Lal Nanayakkara told members of the Public Review Committee at the Finance Ministry on Thursday.rn rnldblquote Investors will be carefully screened and […]
Brick Hunt
rnrnrnrnrnrnNew Page 1rnrnrnrnrn Thernbulk of state housing banks shares are held with the National HousingrnDevelopment Authority.rn ldblquote Theyrnown around 90 percent and they have indicated that they want to sell up to 30rnpercent, dblquote HDFC Banks CEO, C A Sarathchandra told a public accounts reviewrnon Thursday.rn Sarathchandrarnhopes to privately place the shares within the next […]
Good Job
The Ministry of Labour announced on Thursday, that over 2,500 unemployed graduates are assured of permanent employment within the private sector under its Sarasavi Saviya programme.Sarasavi Saviya, a programme that re-trains and finds placements in the private sector for unemployed graduates, reported that within three months the programme had gone beyond its targets for one […]
Recall
The telecom watchdogs case against Mobitel will be resummoned January 12, allowing the cellular operator to make further submission to the Fort Magistrates Court.No further action will be taken until then, the Magistrates said.rn rnThe order comes as Mobitel lawyers argue that the plaint has no charges that can be legally accepted.rn rnThe Fort Magistrates […]