Author: lbostgadmin
Tech Tutors
The government has tied up with the Carnegie Mellon University of US, to develop sector specific IT programmes. Initially,rnCarnegie Mellons Technology Peace Corps will work with the Science &rnTechnology Ministry to develop ICT (Information Communications and Technology)rnsolutions for the government, the agriculture and the industrial sector. rn CarnegiernMellon has developed the lquote Technology Peace Corps […]
Bad Call
The telecom watchdog on Friday asked Mobitel Lanka Ltd to withdraw its promotional GSM offer, with immediate effect.rnrnrnrnrnrnrnHeadlinernrnrnrnrn The cellular operator onrnTuesday, started trial runs for its GSM service, which offers free calls for allrnsubscribers who sign up during the promotional period.rn At Tuesdays launch,rnMobitel said a fully-fledged commercial launch was pending thernTelecommunications Regulatory Commissions […]
Rich Life
An Indo-Lanka tie up will pump in Rs. 620 mn down Lake Drive in Col., 8 to build 25 fully furnished luxury homes.rnrnThe project will cater to Sri Lankas growing lquote large disposable income population on the look out for serine neighbourhoods to move into. rn rnHallmark Property Co., says each 3000-4000 square foot unit […]
Textbook Takeover
A senior Treasury officialrnsaid Friday, that it would sell 49 percent or 490,000 shares to its currentrnowners, priced at Rs. 86.73 mn per piece.rn A total of Rs. 17.7 mn or 10rnpercent of this will be distributed to its 121 employees on the basis of theirrnindividual entitlement, under an earlier management agreement.rn ldblquote Following protractedrnnegotiations […]
Boo Hoo
Suntel wants to buy back Rs 300 mn of its 750mn high yielding medium term debentures, which yield in excess of 22 percent per annum.The wireless operator issued Rs 1 bn worth of debentures in five, six and seven year maturities yielding 22.00 percent, 22.25 percent and 22.5 percent.rn rnNow Suntel wants to buy back […]
Witch Hunt
Set up two months ago, the Authority is already being flooded with business. Strange, spiritual and otherwise; Most of the business though, is on price and unfair services.rn rnJust last week the CAA flexed its muscle and shot down a request by Shell Gas to jack up the cost of a LPG cylinder by Rs.19.00 […]
Desert Run
Air Sahara will begin charter flights to Colombo from New Delhi on Friday, becoming the first domestic carrier to fly out of India. This follows a recent decision to deregulate Indo-Lanka travel after the last meeting between the Prime Ministers of the two countries.rn rnTravel Director of Air Saharas local agent Jetwing, Sunil Pieris, says […]
Teen Talk
MasterCard International on Thursday came out with a credit card primarily designed for Sri Lankas burgeoning teenage market.Hatton National Bank, its local partner hopes teenagers would make use of this opportunity to learn basic banking habits of accountability, responsibility, ownership and financial discipline.rn rnAptly named lquote Hot Shots, the card is targeting teens over 15 […]
Trippling Over
Hatton National Bank Ltd said on Thursday nine-month group profits nearly tripled as it notched gains from its bond portfolio and saw a pick up in credit demand. Group post-tax profits jumped 229 percent to Rs.1.192 bn for the nine months ending September 30, 2003, from Rs. 368.532 mn during the corresponding period.rn rnRevenues during […]
One Down
Hatton National Bank, had its long-term national rating, down graded to SL A- by Fitch Ratings Lanka on Thursday.This decision comes after HNB was put on a ratings watch in July, to allow Fitch to do a review on the banks capital.rn rnldblquote The rating reflects the banks weaker capital position, due to a relatively […]
Deadlock
Talks between President Chandrika Kumaratunga and Prime Minister Ranil Wickremasinghe ended in an impasse with both parties expected to continue discussions next week.Locked in a bitter power battle, both parties met behind closed-doors for just under three hours on Wednesday and sources said neither side showed signs of backing down.rn rnHowever, a joint statement is […]
Porn & Politics
In the heat of the moment, when passions raged and reached a climax over the Presidents swift move, PA parliamentarian Dr. Sarath Amunugama says her actions were driven by lquote sex and the lquote Sinhalese culture.Amunugama told journalists on Wednesday that UNF stalwarts were planning a late night adult entertainment belt or a separate lquote […]