Author: lbostgadmin
Hambantota Crossroads
Canadian consultants studying the Hambantota Port project have come up with a US$ 1,700 mn three-phased development plan as being feasible.Southern Development Minister Ananda Kularatne said the cost also includes US$ 240 mn for a breakwater and dredging. rn rnMinister Kularatne says government steering committee is now examining the report prepared by the Canadian firm […]
Debt Call
Pan Asia Bank is coming out with an unlisted Rs. 400 mn debenture, to raise funds to boost its capital.The five-year issue is priced at floating rate of three percent above the six-months treasury bill rate. Six-month treasury notes are currently trading at 7.17 percent in the secondary market.rn rnThe bank said Tuesday that the […]
Hit Rates
Industry analysts are betting on a competition driven drop in overseas calling rates for the upcoming holiday seasons. Competition in prepaid calling cards segment is expected to drive the drop with more of the 31 licensed overseas call operators coming out with their card options.rn rnIn addition, analysts say international call rates can fall by […]
Cherry Picking
A Compensation Fund for contributors who suffer financial loss resulting from fraud, theft, misappropriation or negligence of monies, will also be set up, from a cess being charged on the industry.rn rnEmployees will also have the option of switching funds, to ensure they get the best return for their retirement nest egg, according to a […]
Faster Connection
LankaClear, the cheque clearing arm of the Central Bank, plans to set up ten regional centres to speed up payments and settlement systems.Known as lquote cheque image clearing and truncation, the system clears cheques faster by electronically capturing a cheques image and cuts lead times from ten to two days.rn rnThe main features of image […]
Private Tutor
State side educationalists could soon receive tuition from private sector firms on what the industry needs from the university system. rnThe project builds on the success of a private sector driven mentoring effort for university students, helping them acclimatise to the sector. rn rnThe initiative will expose state side educationalists to the culture, workings and […]
’85
Celltel, the countrys No 2 mobile operator announced plans to invest US$4 million to increase coverage. This is the companys 4th phase of expansion.rn rnCelltel hopes to grow its network to 250 base stations and improve coverage in the south coast. rn rnPhase 5, which is to begin early next year, will more than double […]
Bull In The Bourse
The Colombo stock market is trading close to historic highs, leaving brokers and analyst guessing as to how long the Bull Run can be sustained. Market watchers say there are still good buying opportunities in the Colombo bourse but had varying views on how long the run will last.rn rnMost analysts who are closely watching […]
Chop-A-Tour
Eight companies have shown interest in starting domestic helicopter operations from December, catering to the tourist boom expected during the winter season.The Civil Aviation Department is expected to give the green light to these operators, as soon as inspections into technicalities of the helicopters and operational matters are sorted out.rn rnDeccan Aviation Lanka, backed by […]
System Shutdown – Updated
A court injunction brought on by CINTEC staff, has blocked the wind-up of the former IT regulator.About 18 of its staff members took the regulator and the state to courts, calling their dismissal unfair and without warning.rn rnGoverning authorities had offered an early retirement scheme, with maximum compensation ranging between Rs. 400,000 and Rs. 600,000, […]
Shoot Out
State officials and peace brokers search for fresh avenues to drive through a lasting peace settlement with the separatist Tamil rebel faction holding on to most of the North and East of the island. rn rnAs another day ends without significant progress with the peace process, Sri Lanka prepares for another battle endash the fight […]
Lacy Trimmings
When the mighty forces join hands, the results are potent. The House of MAS Holdings and The House of Noyon Dentelle de Calais of France have teamed up. The holy alliance will strengthen Sri Lankas position as a global centre for intimate wear apparel endash a far cry from King Kashyapas time when the comely […]