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Safety Features
A tentative take off date of April is on the cards for the social security net for retrenched workers, with an ILO report on its way to Cabinet.The security net is tagged to recent labour reform that went through parliament, which makes it easier for employers to lay off workers during restructuring. rn rnWith lay-offs […]
Hotline
The upcoming interconnection agenda will pull together a common database of phone numbers, which will be managed by the telecom watchdog.The upcoming interconnection agenda will pull together a common database of phone numbers, which will be managed by the telecom watchdog.The common records will act as the base for networks to provide their customers with […]
Warning Bells
The government plans to meet with officials from key foreign countries like USA and UK for a possible economic package in the event of another Gulf War.rn rnLabour Minister, Mahinda Samarasinghe kicked off the crisis level talks on Thursday by meeting top UNDP officials.rn rnHe is also due to meet Saudi Arabian and Kuwait Ambassadors […]
U-Turn
The Seylan Merchant Bank (SMB) Group has posted a 122 percent growth in profits after reporting a loss in 2001.The Groups pre-tax profits rose to Rs.11.3 mn for the period ending Dec.31, 2002 from a Rs. 51.7 mn loss in 2001. rn rnThe Banks pre-tax profit grew 104 percent to Rs. 2.2 mn from a […]
Life Support
Life Insurance Corp. of India has secured regulatory approval to start a life insurance unit in Sri Lanka.Teaming up with the Bartleets Group, LIC has invested Rs.100 mn to purely cater to the local life insurance business.rn rnLIC controls 75 percent of The Life Insurance Co (Lanka) Ltd with Bartleets owning the balance.rn rnCEO R […]
I Do
New interconnection policies may require external gateway operators to make minimum traffic commitments with network operators. The Telecommunications Regulatory Commission (TRC), on Friday published the draft interconnection framework, a base document that will guide operators to negotiate charges for accessing and providing access to telecom networks.rn rnThe interconnection framework is the missing jigsaw in a […]
New Future With Seylan
The bank tied up with an international bonds specialist Tyndall Corporation in Australia to get expertise for the venture.rn rnThe bank will initially pool US$ 16 mn or one forth of its foreign currency deposits into an offshore fund for the operation.rn rnTyndall says futures and options trading will help the bank get a higher […]
Stars For Lotteries
Just before the national lottery is slated to move into private hands the lotteries board is unveiling a new code of behaviour. Officials say the board is going to launch a media campaign warning people against dicing with their last penny.rn rnThe National lotteries board will also stop its agents from selling lotteries to minors.rn […]
Lip Service Only
Local investor confidence was shaken recently first when a licensed savings bank collapsed and then as the securities regulator commenced an insider dealing investigation against its own chairman.However, the crises had little effect on the stock market.Banking stocks in fact gained in anticipation of good earnings reports while Aitken Spence stocks, at the heart of […]
Five-Year Outlook
The country quote s export development agency is putting together an action plan to push annual export growth in to double digits.rn rnThe Export Development Board says the five-year plan will look at eight strategic areas to drive growth. The board is hoping to drive the exports sector to grow at 13 percent annually.rn rnldblquote […]