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Com Port
Sri Lanka Telecom (SLT) is looking to increase its non voice revenue streams, a Telecom City on 3.5 acres in Welikada being among them.As a SLT subsidiary, the Telecom City will house a data and call centre and offer the latest communication technology and services. rn rnThe network operator told shareholders that the Telecom City […]
Tourist Guide
The tourism sector is high on the list of investment possibilities of a visiting International Finance Corporation team. IFC is the private sector investment arm of the World Bank.To date it has an exposure of over US$ 100 mn, mainly in financial markets and infrastructure projects in Sri Lanka.rn rnOf the total, almost 30 percent […]
Eagle Eye
Commercial Bank and DFCC plan to put in a strong bid for a majority stake in Eagle Insurance after losing a battle to get control of SLIC.Zurich Financial Services together with NDB, holds a majority stake in the company.rn rnHowever, Zurich announced its intentions of exiting the local market, after the company hit a bad […]
Birds And Bills
A top nature conservation organisation says it is working closely with the private sector to bring the true benefits of eco-tourism to the conservation efforts in the country.The Field Ornithological Group of Sri Lanka (FOG), which is an affiliate of Birdlife International, says true eco-tourism is not just a bunch of tourists going on a […]
At The Bourse
The Colombo bourse reacted positively to deals in the insurance market and increasing tourist arrivals over the last week.Shares in Commercial Bank and DFCC climbed on news that the two were planning a joint bid for a majority stake in Eagle Insurance.The All Share closed at 820.4 points up two point six points from last […]
Adding Glitter
As a British colony, Ceylon was favoured for sourcing raw material and other commodities to satisfy the boundless tastes of the English. From its teas to exotic spices all exports went out in raw commodity form.Over half a century after independence, things have changed very little.rnSome of the countrys top exports still go out in […]
Consumer Drive
The Central Bank says consumerism contributed significantly to last years economic revival. Economists pointed out that the country is showing the early signs of a consumer demand driven growth.Economists say a fledging peace process created higher than expected demand for goods and services last year.rn rnldblquote In the past we looked at growth only from […]
The Cabinets Axe
The Cabinet of Ministers rejected a decade old draft Companies Act over its departure from English Law principles.A Cabinet sub committee that had a look at the draft Act, which is based on the New Zealand Companies Act, says it goes against the English Law practiced in the country.rn rnThe corporate and legal profession, which […]
Two on DEXs
Two parties have responded to the Colombo Stock Exchanges call to admit trading members to its new debt trading, the DEX.CSEs Senior Manager Marketing, Rajeeva Bandaranayake says over 20 firms picked up the prospectus, when the earlier deadline ended on April 30.rn rnldblquote We have decided to extend the deadline by another month, as some […]
Safe Hands
The DFCC-Commercial Bank consortium plan to hold their stakes in Eagle Insurance through a holding company, in the event their bid succeeds.Both banks put a joint bid for Eagle Insurance, after its parent company, Zurich Financial Services (ZFS) said it was pulling out of Sri Lanka. rn rnldblquote If we get it, we are looking […]