All Blogs
Losing Interest
The Mahapola Trust Fund could pursue legal action against the Presidents Fund to recover over Rs. 1 billion due since 1997. Mahapola Trust officials claim the delay in payment has cost them an estimated Rs.200 million in interest income. rn rnReturns from the Trust, funds monthly allowances to over 7000 students, this number now expected […]
Rate Card
Telco firms have till the weekend to give a final verdict on termination rates proposed in a new cost based study. Industry giant Sri Lanka Telecom was absent at the Tuesday morning meeting, where the regulator met with the industry to discuss the rates.rn rnThe study also will set the base for the industrys move […]
More Money
Danish authorities on Tuesday signed a development co-operation agreement to fund a multitude of projects yet to be identified.rnrnThe fresh aid facility will be in addition to the US$ 22 mn pledged at the Tokyo donor conference in mid June and will provide financial, technical and material resources for projects.rn rnFinance Ministry officials insist that […]
Base Cost
Telco firms will meet the telecom watchdog Tuesday to discuss termination rates proposed in a recent consultant cost study.Telecommunications Regulatory Commission senior officials say the meeting will help complete the study, which will set termination rates between networks.rn rnThe study was initiated earlier this year to impose actual cost based call termination rates.rn rnThe new […]
Book Keeping
Independent reviews of public sector accounts will take off in July, in line with ongoing reforms to revamp the public sector to be accountable and transparent.ldblquote Currently public enterprises are reviewed by the Public Enterprises Committee that has no secretarial expertise and no time to review about 225 public enterprises dblquote , says V. Kanagasabapathy, […]
Private port
Colombo South Harbor, which will be more than double the ports capacity to handle containers, is likely to be built with private sector help.Colombo Port will run out of space in 2012 after the Jaya Container Terminals (JCT) is expanded to its full potential of 5.5 million containers a year in the medium term.rn rnThis […]
DFCC gets Merc Bank
DFCC bank plans to offer more commercial banking products to its customers once it acquires a small commercial bank.DFCC says they will not merge operations with troubled Merc Bank when they take up a significant controlling stake in it within days. rn rnAlthough DFCC does not plan to merge the Merc Bank business with its […]
Tourism bull
The tourism market is expected to grow at 20% a year over the next five years according to stockbroker estimates. They also say that high spending tourists and business travel traffic is improving with positive effects on the industry.Analysts say the sector could expand if the current trends in politics and global tourism continue.rn rnDFCC […]
Hambantota Woes
The Hambantota Port project may not get off ground as soon as expected, Ports Minister Rauf Hakeem warned today. The Canadian firm SNC Lavelin offered to conduct the feasibility last year, and is due to submit the final report by September.rn rnBut their pre-feasibility work has so far failed to impress the authorities.rn rnldblquote I […]
Floodgates
The market raced past the 1000 point mark on Friday in a frenzy of largely local interest, in levels last seen eight years ago.rnrn The All Share Index climbed to 1001.61 towards the end of trade today, closing at 995, while the blue chip Milanka index rose 23 points to end the day at 1913.1.rn […]