Author: lbostgadmin
Acting Against Pirates
A new Act to strengthen Property Rights covering all areas in Intellectual Property from patent rights to trade marks is coming into force this month. Hundreds of retail outlets selling pirated computer software and music could disappear overnight if the full force of the law is used.rn rnToday from adventures in cyberspace at the click […]
Rural Rumble
A team of consultants has recommended tough reforms, a more focused regulatory regime and the winding up of co-operative banks with a negative net worth to clean up the rural financial institutions.The report jointly commissioned for the Central Bank and the Asian Development Bank also recommends a stronger regulatory role for the rural financial sector.rn […]
Buying Online
External Gateway Operators (EGO) registered by Tuesday (May13) will qualify to bid at the first online short code auction scheduled for May 21 or 22.E-W Information Systems, contracted to design and conduct the auction over the internet say EGOs who register with the telecom regulator will choose upto five short codes two hours before the […]
Clean Break
Conglomerate Aitken Spence Ltd on Tuesday disposed its equity stake in Union Assurance Ltd.The sale comes after Aitken Spence bought into Sri Lanka Insurance Corp. recently, through a consortium led by the Distilleries Company.rn rnUALs existing shareholders, the Carsons Group and John Keells Holdings Group picked up Aitken Spences parcel.rn rnAccordingly JKH raises its stake […]
Call Box
Sri Lanka Telecom is seeking approval for an all inclusive rental package for its low usage customers. The package will include the monthly rental and a fixed number of call minutes, with an additional charge for extra minutes. rn rnThe packaged deal is part of SLTs revised tariff rebalancing proposal pending regulator approval.rn rnRetail customers […]
Looking Pretty
National Development Bank said its first quarter profits rose 58% to Rs. 225.9 mn due prevailing low interest rates and capital gains.Interest expense during the period rose to Rs. 643.6 mn, while equity income went up 38% to Rs. 115.4 mn.rn rnThe bank provided Rs. 149.2 mn for possible credit losses, while the VAT on […]
Air Pocket
The government is to re-tender for private investors to manage Sri Lankas Air traffic, after discussions with tech giant Lockheed Martin, fell through.The company had already made a preliminary bid last year, to manage Sri Lankas upper airspace, with negotiations on its way to a firm commitment.rn rnBut a top-level government policy decision pulled the […]
Spare Shop
In an industry with annual billings of over Rs. 300 mn, TVS Lanka wants to drive out the market for fake motor vehicle spare parts.rnThe spare parts industry grows at an annual rate of 20 per cent, while fake parts sales account for an estimated 40 per cent of the market.rn rnIncreasing awareness and an […]
Managing Space
SriLankan Airlines Cargo Centre handled a record 12,078 metric tonnes or 12 mn kilos of freight in March 2003, the highest ever throughput in its history.The previous highest was in November 2000, where the Cargo Centre handled 12,024 metric tonnes. rn rnBased at the Bandaranaike International Airport, the Cargo Centre handles all import, export and […]
SLT Is Ready
The telecom watchdog is about to rubber stamp a long overdue tariff rise for Sri Lanka Telecom (SLT), while also reviewing its tariffs for submarine cables.The Telecommunications Regulatory Commission (TRC), is seeking a consultant to re-look at the pricing structure on the SEA-ME-WE submarine cables to allow cheaper access to other operators.rn rnSLT enjoys access […]
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 […]