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CAT Walk
The Commercial Bank of Ceylon has improved its Internet Banking facility with several enhanced features.
Play Time
Deputy CEO Sarath Piyaratna says the bank is keen to develop their future customer base and this new initiative would be the first step.rn rnThe bank in recent years introduced a number of target market specific banking services to cater to the spectrum of ages. rn rnServices including the E-Saver endash targeting young adults and […]
VATquote s The Reason – Updated
Deputy Finance Minister Bandula Gunawardana says the government sector initiative to reduce prices to reflect the zero duty on essential items is intended to set an example for the private sector to follow suite. rn rnMost state institutions that benefit from the zero duty will in effect absorb the 6.5 per cent National Security Levy […]
SLIC Reports Profits
State Insurance giant Sri Lanka Insurance corporation reported a billion rupee profit from on the back of a booming stock market.rn rnThe company suffered a marginal Rs. 2 mn on its core general insurance business. rnrnBut the profits came from a massive write back of provisions for stock market investments. rnrnHigh returns on government debt, […]
Safety Net
A key component of the safety net is an unemployment insurance scheme for laid off workers. rnThis would supplement the compensation given by the restructuring company.rnA compensation formula that has already been announced is to be given legal effect later in the year. rnOfficials say the unemployment insurance may be funded by a one per […]
Abarthu.Com
Lanka Service Network or lquote JobsNet quote is built around a database of job seekers, employment providers, NGO quote s and training centres. rnrnThese are linked to service outlets set up in each of the country quote s 24 districts that will assist in job placements or access to information in Sinhala, Tamil or English, […]
Rate Cut
The Central Bank on Friday cut key short-term rates by 100 basis points in line with the bank quote s new policy of making regular changes to its key discount rates, to make it more responsive to market needs.As reported by LBO Thursday, the bank lowered the reverse repurchase rate (reverse repo) to 12.75 percent […]
To Cut Or Not
The Central Bank is strongly tipped to lower its short-term discount rates by up to 100 basis points within the next few days.Central Bank officials had intimated its thoughts to Chief Executives of commercial bank quote s at a meeting on Thursday. rnrnMarket sources said the Central Bank had asked the banks to cut lending […]
Job Security
Sri Lanka Insurance Corp. (SLIC) unionised workforce plans to strike a pact to prevent employees being retrenched after the corporation in privatized this year.rn rnThe move comes after SLIC quote s 3,000 odd workforce got jittery after the government announced plans to divest up to 90 percent of the insurance giant. rnrnChairman Chrisantha Perera told […]
Unorthodox Shift
Local factions in the tea industry say the Indian threat was looming for over a year, but officials here had made no effort to plan for competition. Sri Lankan orthodox teas sell at an attractive premium above CTC prices. In addition Sri Lanka dominates the orthodox market controlling well over 75 per cent of supply. […]