All Blogs
Making Of A King
Consumer protection has been a concern of every administration but analysts say that Sri Lankan consumers are far from being kings. A new Act is trying to put the consumer on top, suing professionals and traders in the process.But analysts warn that over-regulation may put off the private sector and worse still, potential foreign investors.rn […]
Clean Break
Conglomerate Aitken Spence Ltd on Tuesday disposed its equity stake in Union Assurance Ltd.The sale comes after Aitken Spence bought into Sri Lanka Insurance Corp. recently, through a consortium led by the Distilleries Company.rn rnUALs existing shareholders, the Carsons Group and John Keells Holdings Group picked up Aitken Spences parcel.rn rnAccordingly JKH raises its stake […]
Buying Online
External Gateway Operators (EGO) registered by Tuesday (May13) will qualify to bid at the first online short code auction scheduled for May 21 or 22.E-W Information Systems, contracted to design and conduct the auction over the internet say EGOs who register with the telecom regulator will choose upto five short codes two hours before the […]
Spare Shop
In an industry with annual billings of over Rs. 300 mn, TVS Lanka wants to drive out the market for fake motor vehicle spare parts.rnThe spare parts industry grows at an annual rate of 20 per cent, while fake parts sales account for an estimated 40 per cent of the market.rn rnIncreasing awareness and an […]
Air Pocket
The government is to re-tender for private investors to manage Sri Lankas Air traffic, after discussions with tech giant Lockheed Martin, fell through.The company had already made a preliminary bid last year, to manage Sri Lankas upper airspace, with negotiations on its way to a firm commitment.rn rnBut a top-level government policy decision pulled the […]
Looking Pretty
National Development Bank said its first quarter profits rose 58% to Rs. 225.9 mn due prevailing low interest rates and capital gains.Interest expense during the period rose to Rs. 643.6 mn, while equity income went up 38% to Rs. 115.4 mn.rn rnThe bank provided Rs. 149.2 mn for possible credit losses, while the VAT on […]
Call Box
Sri Lanka Telecom is seeking approval for an all inclusive rental package for its low usage customers. The package will include the monthly rental and a fixed number of call minutes, with an additional charge for extra minutes. rn rnThe packaged deal is part of SLTs revised tariff rebalancing proposal pending regulator approval.rn rnRetail customers […]
Managing Space
SriLankan Airlines Cargo Centre handled a record 12,078 metric tonnes or 12 mn kilos of freight in March 2003, the highest ever throughput in its history.The previous highest was in November 2000, where the Cargo Centre handled 12,024 metric tonnes. rn rnBased at the Bandaranaike International Airport, the Cargo Centre handles all import, export and […]
Losing Interest
The Central Bank on Friday cut key interest rates by 75 basis points on Friday.The bank lowered the Reverse Repurchase Rate to 10.25%, while the Repurchase Rate was cut to 8.25%. The bank last cut rates by 75 basis points on January 7.rn rnThe Reverse Repo-rate is the rate at which Primary Dealers in Treasury […]
TATA Push
Tata Automobiles of India, which launched a large selection of its vehicles to the local market, has found ready buyers among the countrys parliamentarians and police force.The company, which has managed to sell a large number of its SUVs to parliamentarians under an Indian credit line has also got an order from the police force […]