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New Faces
The Colombo Stock Exchange on Wednesday admitted five new members to trade on its upcoming debt securities board, the DEX.The trading members are: Capital Alliance Holdings Ltd., Central Finance Co. Ltd., National Wealth Corp. Ltd., Sampath Bank Ltd and Seylan Merchant Bank Ltd.rn rnTrading members are second tier brokers, with access limited to dealing in […]
Pay Me
Telco firms will soon introduce charges to terminate calls on each others networks, a fee expected to cover infrastructure costs. Only Sri Lanka Telecom presently, charges a termination fee from mobile operators under the present system. rn rnBetween other operators, its is agreed that the network sending the call, keeps the revenue to cancel off […]
Leveraged Funds
The Urban Development Authority (UDA) has negotiated with local banks to raise upto Rs. 1 bn to build 1300 houses for the middle and high income segments.The loan will pay for initial work, with the UDA planning to front sell the homes to raise the balance requirement of Rs. 9 bn. rn rnThe monies will […]
Friendly Chat
The Central Bank said told Supreme Court on Monday they will meet bankers and other potential investors of Pramuka this week, to give effect to an Appeals Court order.Accordingly, monetary authorities will meet bankers and other potential investors on Thursday (July 24) and Pramukas depositors on Friday (July 25) to explore all options to revive […]
Big League
Indian telco giant, Videsh Sanchara Nigam Limited (VSNL) will transfer part of its international bandwidth on the SEA ME WE III (three) submarine cable to its Sri Lankan offshoot. The cable capacity will be in addition to a satellite earth station that will be set up to provide overseas call services.rn rnVSNL will initially run […]
Safety Features
The government is looking at offering up to one year as compensation for employees who lose their jobs and also allow people to take their provident fund monies early.Labour Minister Mahinda Samarasinghe said a safety net scheme to offer compensation to victims of corporate restructuring is being worked out and will be announced before the […]
Home Zone
Localising its online service, Emirates on Monday announced the launch of its website for Sri Lanka – www.The local extension will provide online visitors with special promotions and information tied to Sri Lanka along with the regularly featured facilities like booking services and flight schedules. rn rn”This is an exciting development for Emirates in Sri […]
Choppy Ride
The Central Bank on Monday named financial institutions that are not registered with the bank, but continue to raise funds from the public.The 31 companies named, raise funds not by deposits, but by other means like debentures, commercial paper and promissory notes.rn rnThe notice comes after the Central Bank named 27 companies in January for […]
Renewing Ties
Sri Lanka Telecom will restore the microwave radio link that once connected the island to neighbouring India. Operational in the 80s, the link was a key like which helped carry a significant portion of the voice traffic between the two countries.rn rnA Memorandum of Understanding signed with Indian telco giant Bharat Sanchar Nigam Limited (BSNL) […]
All Aboard
As wider share ownership is putting pressure on listed companies to improve their corporate governance they try to offer better returns to their most important stakeholders while other stakeholders in the fringes of corporate governance get ignored.A new initiative by the employers federation is trying to change this by giving companies a chance to be […]