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Hitting The Roof
The overall increase hovers around 30 percent, some motorists face higher premiums of up to 75 percent, while third party cover has doubled by 100 percent. rnrnFollowing intense discussion between the Insurance Board of Sri Lanka (IBSL) and the industry, the watchdog agreed to deregulate motor tariffs from January 1. rnrnBut tariffs were not revised, […]
Nobly Curve
Central Bank officials say that an initial Rs. 5 bn worth 10 or 12-year bonds will hit the market soon. rnrnThe bank expects long term investors like insurance companies and the captive funds like EPF and ETF to subscribe to the issue. rnrnldblquote We have spoken to the investors like insurance companies and provident funds […]
Bumpy Ride
Prospective buyers are expressing reservations over government plans to hold majority stakes in the regional bus companies to be sold next week.The 13 regional bus companies are due to trade on the Colombo Stock Exchange on Wednesday, with the government continuing to hold a majority 51 percent stake. rnrnThe government expects to inject an estimated […]
HSBC at the back end
Its credit card infrastructure is capable of handling 300,000 cardholders. rnrnOfficials say banks that wish to offer cards to customers can issue cards under their own brand, using HSBC facilities. rnrnldblquote Since we have the infrastructure which can handle a volume three times of the volume we have now we are now looking at anyone […]
HDFC aims for Rs. 2 bn
Housing Development Finance Corporation (HDFC) says it will raise more funds from mortgage-backed securities following the runaway success of the first two tranches. rn rnLast week it raised Rs. 250 mn from DFCC, Commercial Bank and Union Assurance.Earlier this year it raised Rs.500 mn from National Savings Bank. rnrnPlacing agent Capital Alliance says the latest […]
Hatching up at the nursery
At one time he used to collect a list of customers needing service in the morning. But now he gets an SMS message whenever a customer in his areas has a sudden problem. rnrnWithin seconds he is speeding to the Gestetner customer needing attention. rnrnMissed calls have become a thing of the past. After the […]
SLT will not renew NTT
SLT announced that the management agreement that was in force since August 1997 will not be renewed after it expires on August 5. rnrnThe SLT board decision to terminate the agreement had been take as far back as February. NTT communications acquired a 35 percent stake in SLT in 1997. The company also took over […]
Exports Award
There will be more focus on value added exporters. rnrnAwards will be given for Traditional Agriculture, Non-traditional agriculture, value added tea, industry, gems and jewellery and service providers to exporters, like government departments.rn
Price Hiccups
Though GST was charged at 12.5 per cent and NSL at a nominal rate of 6.5 per cent the effective rate was around 21 per cent. rnrnUnder VAT the highest rate is only 20 per cent. rnrnThe finance minister is calling on the business community not to raise prices without cause. rnrnldblquote You should consider […]
Hello There
The telecom sector will see sweeping reforms shortly including the liberalisation of international gateway as well as access to new entrants to both fixed and mobile services to improve coverage in rural areas, officials at the Policy Development Ministry said.