Author: lbostgadmin
Gassed!
The Court of Appeal issued an interim order on Friday stating a Consumer Affairs Authority (CAA) direction allowing all LP Gas traders to refill and sell LPG in any cylinder given to them.The court order was made following a writ filed by Shell Gas Lanka Limited (SGLL) against the Consumer Affairs Authority and two other […]
Seaview
Ceylinco Homes International, which managed to sell its Hyde Park Apartment complex in record speed plans to add another landmark to the Colombo skyline.The company plans to put up another luxury apartment block down Galle Road. rn rnThe new venture will be one of the largest, undertaken by the company. rn rnldblquote We are planning […]
INTRAD
The National Chamber of Commerce is organizing an infrastructure trade fair in September, which it hopes will help in the formulation of government policy.INTRAD 2003 hope to attract top government investment and infrastructure agencies and companies in infrastructure development.rn rnThe Chamber says the exhibition will offer a great platform for policy makers and donors to […]
IDD Crunch
International call charges are expected to fall further, when a new system of short codes that will allow customers to access an external gateway of their choice comes operational.rn rnExperts say that the move also cements could help reestablish the island as a regional leader in telecom regulation. rn rnInternational call costs fell by over […]
Online On Time
Businesses are going online to deliver customer needs round the clock. While 24-hour accessibility has opened up new opportunities there is also the added responsibility of being operational all the time. For every time the system goes offline the company loses business and credibility. rn rnA concept known as Managed Availability is fast catching on […]
Bodybuilding
Laws to give banks and finance companies more muscle to tackle bad debts have got regulatory approval and are before the Legal Draftsmen.Under the Amendments to the Debt Recovery Laws, finance companies registered with the Central Bank will be given similar parate rights as banks.rn rnParate Laws allow banks to auction properties mortgaged against loans […]
New Alliance
A new entrant to the primary market in Government securities wants to make investments in Government debt more attractive to retail investors.Capital Alliance, which got a Central Bank license as a Primary Dealer recently, plans to put out innovative products to allow investors to get over problems of high minimum investments in Government Debt.rn rnldblquote […]
TATA Push
Tata Automobiles of India, which launched a large selection of its vehicles to the local market, has found ready buyers among the countrys parliamentarians and police force.The company, which has managed to sell a large number of its SUVs to parliamentarians under an Indian credit line has also got an order from the police force […]
Losing Interest
The Central Bank on Friday cut key interest rates by 75 basis points on Friday.The bank lowered the Reverse Repurchase Rate to 10.25%, while the Repurchase Rate was cut to 8.25%. The bank last cut rates by 75 basis points on January 7.rn rnThe Reverse Repo-rate is the rate at which Primary Dealers in Treasury […]
Adding Muscle
Laws to give banks and finance companies more muscle to tackle bad debts have got regulatory approval and are now before the Legal Draftsmens Dept. Under the amendments to the Debt Recovery Laws, finance companies registered with the Central Bank will be given similar parate rights as banks, says Dr.Wickrema Weerasuriya, Central Banks Consultant on […]
Buying Space
The telecom regulator is awaiting Ministry approval to allocate two frequency slots in the 1800 MHz range, of three put up for sale. Telecommunications Regulatory Commission (TRC) Director General, Themia Hurulle on Wednesday said that the documentation for the allocations would be presented to the Secretary to the Ministry of Mass Communication during the week.rn […]
Roll Out
Legislature to roll out the e-Sri Lanka initiative is to be debated in Parliament on May 22. Economic Reforms, Science and Technology Minister Milinda Moragoda told participants at the first e-government conference on Friday that the ICT Bill was approved by Cabinet recently and would be debated in Parliament shortly.rn rnThe bill will formalise the […]