Author: lbostgadmin
Travel Allowance
Travel exchange specialist Travelex will scale up operation in Sri Lanka to tap into the potential of the peace fueled growth in tourism.Sri Lanka is part of the firms strategy along with entering the Indian market in Nov.2003, to tap into the US$ 1.5bn travel market in South Asia.rn rnTravelex, a company that caters to […]
Maximum Credit
Standard Chartered will leverage Commercial Banks nationwide branch network to sustain growth in its credit card business. rnrnThe deal will allow Standard Chartered credit card holders to pay into over 117 Commercial Bank branches along with nine of its own branches. rn rnCredit Card holders with Commercial Bank accounts can also use the Comserv internet […]
Socially Accountable
The Institute of Chartered Accountants of Sri Lanka (ICASL) – the countrys auditing standard setting body – is trying to lift the countrys accounting standards a notch higher by embedding Social Responsibility Reporting (SRR) into annual financial reporting.As it is Sri Lanka has one of the strongest legal infrastructure in place when it comes to […]
Sugar Free
The UNF threatened to reduce import duties on commodities, starting with sugar, if local traders start hoarding goods to increase prices. rnThe import duty on sugar was reduced with immediate effect on Friday to control a surge in sugar prices in the local market.rn rnThe price of a kilogram of sugar went up from Rs […]
Calling Colombo
The HSBC Group on Friday finalized plans to pump in US$ 25 mn to set up its seventh group service centre in Sri Lanka, generating over 2000 jobs. The call centre will be the largest such project in the country taking Sri Lanka into the big leagues of Business Process Outsourcing (BPO).rn rnThe project is […]
Changing Heads
Hatton National Bank has appointed Rienzie Wijetilleke as new Chairman of the Bank. Wijetilleke will continue as Managing Director.The post fell vacant after former Chairman Chrisantha Cooray passed away recently.rnrn
Overseas Banking
Sri Lanka Export Credit Insurance Corporation (SLECIC) is in talks with a Russian bank, to promote financing of Russian importers of local goods. The company has identified importers of goods from Sri Lanka as an opportunity segment and has started off in that direction with a Russian bank to finance importers of Sri Lankan products […]
Seeing Red
The Marxist Janatha Vimukthi Peramuna (JVP) is marrying its past with the present, to give the party its first significant political victory next month.ldblquote We did not take part in active politics for 34 years. We watched and we saw what was happening.Things were getting so bad, we decided to return to support the JVP […]
Redialing
The telecom watchdog is taking a second look at the controversial Caller Party Pays (CPP) tariffs, this time taking account of its implications to phone subscribers and bulk users.The Telecommunications Regulatory Commission (TRC) has opted for this route, as public responses flood in since a March 1 implementation date was pushed back.rn rnThe review will […]
Green Eye
Denying news reports of supporting a split in the Tamil Tigers, the United States on Wed. pledged US$ 600,000 in assistance to help election monitoring activities during next months poll.US ambassador Jeffrey J Lunstead said that the US had nothing to do with the unprecedented break up of the LTTE ahead of the April 2 […]
Target Practice
Despite an independent police commission in place, local officers continue to harass and torture innocent victims, the Asian Legal Resource Centre (ALRC) said Wednesday.In its second report on torture by the police in Sri Lanka, titled Endemic torture and the collapse of policing in Sri Lanka, the report describes 31 recent cases of torture or […]
Hot Chip
Intel Expanded its product offer in Sri Lanka as it faces growing demand for its processors from the state and private sector and a growing population of individual personal computer users. Intel of Wednesday introduced four new processors that promise to deliver an even faster digital experience and offer headroom for the next wave of […]