Author: lbostgadmin
Property Boom
Prime government land could soon be released for development to the private sector under a new plan to put them to more productive use. The government, which is the largest landowner in the country, plans to implement the scheme with donor support.rnA top investment bank has already been given the mandate to come up with […]
Airwaves On Sale
The government is planning to make the process of radio spectrum allocation to telecom firms more transparent in future. With the fast growth in wireless telecoms, some sectors are running out of spectrum space.rnAt one time however government had a policy of not charging high fees for spectrum, based on the principle that high start […]
Expensive Business
Sri Lanka has always been a hot spot for beach lovers. But the trend is changing. Niche tourism markets are starting to make a mark with first signs of the country emerging as a popular eco, adventure and Ayurvedic holiday destination. rnIn the last of a series on the travel and leisure industry, we look […]
Next Debut
New owners plan to list Sri Lanka Insurance Corporation next year after restructuring the company.A consortium led by Distilleries Company and Aitken Spence offered over Rs.6 bn for the state insurance giant in the largest privatisation by the UNF government.rn rnThe new owners say they will sell a stake through an IPO next year to […]
First Dip
The World Bank is expected to release the first US$ 100 mn tranche from its poverty reduction strategy to the government in early June.The funds come under the broader agenda of the banks country assistance programme for US$ 800 mn spread over a four-year period.rn rnAnnouncing its largest ever aid package to Sri Lanka on […]
Penny Wise
The telecom regulator has hired Frontier Economics Ltd to do a cost study on mobile and fixed termination rates between operators.The operators and the Telecommunications Regulatory Commission (TRC) jointly mooted the study in February, after operators failed to agree on new interconnection rates put forward by operators.rn rnIndustry experts say a proper cost study on […]
Moving In
Friendly services and cost management strategies will bring UK based health insurer, Western Provident Associations (WPA) back office operations to Sri Lanka. The Sri Lankan office will be the second offshore service centre for the insurer after its Bangalore, India outfit. rn rnDirector Best Practices, Adrian Schuler says the firm is looking at a 30-40 […]
Look Out
Media institutions who carry advertisements for financial institutions that promise unrealistic returns may be liable for damages if they later fail to deliver, a top legal expert warned.Government advisor and member of the Financial Sector Reform Committee Dr.Wickrema Weerasuriya warned that print and electronic media could be sued under common law if they continue to […]
Public Poll
A proposal to have a referendum to test the pulse of the people on the ongoing peace process has got the governments attention.Civic groups have approached the government to table a lquote Peace Bill, which spells out details of the ongoing peace initiatives before legislators.rn rnBut the government is keen to get a feedback on […]
Changing Act
Plans to set up a common regulator for the communication and information sectors have been activated with a draft bill now available. The draft bill accommodates the rapid changes taking place in the industry and is in line with the states ICT development agenda. rn rnState officials say the bill is aimed to create a […]
New Spirits
The consortium led by the Distilleries Co. Group will float a holding company to take up the lion share of Sri Lanka Insurance Corp.s ownership.Cabinet on Wednesday gave its consent to dispose a 90 percent slice in SLIC to the Distilleries consortium for Rs. 6,050 mn. rn rnThe consortium is made up of the Distilleries […]
Labour Export
Asian countries producing the world migrant worker population will lobby for free labour migration at future trade negotiations with developed economies.rnThe move was proposed by the Indian deligation at the Labour Migration Ministerial Consultations for Countries of Origin in Asia held in Colombo on April 1 and 2.rn rnTen regional delegations agreed to back the […]