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Regional Wire
A number of services will be made mandatory under the technology neutral licence and could be issued by mid 2004. rn rnInterested firms could have to bid only for license through a single round simple open auction process. rn rnThe two licences could cover the North-East and the deep South regions selected on the parameters […]
Deflation
The Board of Investment is forging ahead with a colossal restructuring effort, with UNDP stepping in, to guide the re-haul the top investment promotion vehicle into a leaner, more efficient structure.Non-core functions like zone management and regulatory services are to be spun off separately, with the BOI narrowing its focus to key areas like investment […]
Private Tuition
The private sector will absorb 5,000 unemployed graduates under a revamped graduate assistance programme. The Sarasavi Saviya Programme, the successor to the PA governments Tharuna Aruna project, is being planned to provide up to 10,000 jobs under the first phase due to end by December 2003.rn rnMinister of Employment and Labour, Mahinda Samarashighe told reporters […]
Port Call
Two of the largest port operators in the region are keen to invest in the Jaya Container Terminal (JCT) operated by the Ports Authority. Hutchison Port Holdings and PSA the state owned Singaporean port operator has already shown interest to the BOI to invest in the booming Colombo port.rn rnWestport of Malaysia, which is part […]
ACCAs Call
An international accounting body is calling for state regulation to improve corporate governance and best practices of local companies.Association of Chartered Certified Accountants (ACCA) say a proper regulatory framework resulting in better corporate governance would also enable the country to attract overseas investors.rn rnACCAs head of Risk Management Paul Moxey will be addressing these and […]
Light Readings
Half the countrys population has electricity supplied by the main power grid. Authorities say they plan to raise this level to about 80 percent of the population within the next few years. However, drawing power lines to rural areas far from main cities is going to be difficult.rn rnExperts say that alternative ways to light […]
Re-Planning Colombo
Over US$ 300mn in Foreign Direct Investment is expected by the end of the year, one of the highest inflows during recent years. The national investment promotion agency BOI says that the country is now attracting investments from all over the world with strong inflows from the Asian region.rnStrategies to attract investments are also seeing […]
Durdans Comes Out
Durdans Hospitals is planning to go public next month.The hospital started in 1945, as one of the first private healthcare ventures in the island, will seek to raise Rs.240 mn through the IPO.rn rnThe money will go towards adding more floor space and upgrading equipment at the hospital.rn rnThe shares will be issued at a […]
Netting The LTTE
International donors to the country are trying to set up a mechanism through, which the LTTE could directly get involved in aid disbursement to the North and East.Japanese envoy Yasushi Akashi told the press that they hope to identify a mutually acceptable solution to this problem soon.rn rnldblquote We hope they will work in such […]
I Will Tell
Distressed depositors of the failed Pramuka Savings & Development Bank say that they are complaining to Courts that the Central Bank is not properly carrying out judicial orders.Pramuka Bank has failed to attract serious investor interest, after Central Banks deadline lapsed on Wednesday.rn rnOn Friday, depositors wrote to the Monetary Board complaining that they had […]