All Blogs
Village Assistant
Adapting digital technology to connect a small back village in Sri Lanka, a pilot project has just kicked off in Udagama to provide access to internet based information in Sinhala to some 575 families. The project will use the VillagePDA – entirely home grown, low cost Internet enabled devices developed by Media Solutions in Sri […]
Share Tussle
Hatton National Bank will sell its Sampath Bank Holdings within days after the regulators gave the green light on Friday. rn rnThe Central Bank and the Securities and Exchange Commission gave the nod for a private sale to go ahead.rn rnSampath Bank, which has obtained a restraining order against the sale of shares by HNB […]
Shady Deals
Central Bank quote s supervisors completed preliminary investigations on Pramuka Bank, as depositors awaited a final decision from the Monetary Board on the suspended bank.rn rnMeanwhile Pramuka Merchant Corporation, an affiliate financial firm, of the bank also stopped repaying its maturing bondholders.rn rnEmployees say that the bank has invested their provident funds in the bank […]
Road To eLanka
The government unveiled a road map to wire the countries population for economic and social advancement.The Information communications technology plan is trying to put everything from the land registry to filing tax returns, online.rn rnGovernment says it has donor commitment to implement the e-Sri Lanka project over a five-year period.rn rnCritics say the countries telecommunications […]
Shedding Weight
The government is to offer voluntary retirement to at least 10,000 state sector employees every year starting from 2003, as it plans to cut around 100,000 jobs in the clerical and lower grades.rn rnExecutives and higher grades will not be targeted for retirement, officials say. Officials say a detailed analysis of all government sector jobs […]
Shady Deals
Meanwhile Pramuka Merchant Corporation, an affiliate financial firm, of the bank also stopped repaying its maturing bondholders.rn rnEmployees say that the bank has invested their provident funds in the banks own securities leading to a US style loss of retirement funds. rn rnHowever, top bank officials say the primary cause of their present troubles were […]
Road To eLanka
The government unveiled a road map to wire the countries population for economic and social advancement.The Information communications technology plan is trying to put everything from the land registry to filing tax returns, online.rn rnGovernment says it has donor commitment to implement the e-Sri Lanka project over a five-year period.rn rnCritics say the countries telecommunications […]
Subcontract
A lquote Reverse Fair quote kicked off Friday that attempts to forge links for subcontracting between small enterprises and five sector-specific industries, here and abroad.
Poverty Alleviation Party
The Samurdhi program is getting a clean up in an attempt to get back on track with the scheme quote s original objective.rn rnWhile, some poverty alleviation has been taking place, high politicization of the scheme has prevented it from helping the poor at large.rn rnThe restructuring of Samurdhi attempts to rid it of its […]
Expected Cut
The Central Bank Thursday lowered its key short-term rates with immediate effect, signaling an improvement in macro economic fundamentals.The bank cut its repurchase rate by 50 basis points to 9.75 percent and the reverse repurchase rate by 100 basis points to 11.75 percent.rn rnCommercial banks and other financial institutions are also expected to reduce their […]