Author: lbostgadmin
Shedding Weight
The government is to offer voluntary retirement to at least 10,000 state sector employees every year starting from 2003, as it plans to cut around 100,000 jobs in the clerical and lower grades.rn rnExecutives and higher grades will not be targeted for retirement, officials say. Officials say a detailed analysis of all government sector jobs […]
Road To eLanka
The government unveiled a road map to wire the countries population for economic and social advancement.The Information communications technology plan is trying to put everything from the land registry to filing tax returns, online.rn rnGovernment says it has donor commitment to implement the e-Sri Lanka project over a five-year period.rn rnCritics say the countries telecommunications […]
Shady Deals
Central Bank quote s supervisors completed preliminary investigations on Pramuka Bank, as depositors awaited a final decision from the Monetary Board on the suspended bank.rn rnMeanwhile Pramuka Merchant Corporation, an affiliate financial firm, of the bank also stopped repaying its maturing bondholders.rn rnEmployees say that the bank has invested their provident funds in the bank […]
Share Tussle
Hatton National Bank will sell its Sampath Bank Holdings within days after the regulators gave the green light on Friday. rn rnThe Central Bank and the Securities and Exchange Commission gave the nod for a private sale to go ahead.rn rnSampath Bank, which has obtained a restraining order against the sale of shares by HNB […]
Poverty Alleviation Party
The Samurdhi program is getting a clean up in an attempt to get back on track with the scheme quote s original objective.rn rnWhile, some poverty alleviation has been taking place, high politicization of the scheme has prevented it from helping the poor at large.rn rnThe restructuring of Samurdhi attempts to rid it of its […]
Subcontract
A lquote Reverse Fair quote kicked off Friday that attempts to forge links for subcontracting between small enterprises and five sector-specific industries, here and abroad.
Road To eLanka
The government unveiled a road map to wire the countries population for economic and social advancement.The Information communications technology plan is trying to put everything from the land registry to filing tax returns, online.rn rnGovernment says it has donor commitment to implement the e-Sri Lanka project over a five-year period.rn rnCritics say the countries telecommunications […]
Shady Deals
Meanwhile Pramuka Merchant Corporation, an affiliate financial firm, of the bank also stopped repaying its maturing bondholders.rn rnEmployees say that the bank has invested their provident funds in the banks own securities leading to a US style loss of retirement funds. rn rnHowever, top bank officials say the primary cause of their present troubles were […]
Band Strategy
A series of concerts by international artists is expected to put Sri Lanka on the centre stage in the global arena.rn rnThe Commerce and Consumer Affairs Ministry initiative will kick off in December with UB40, the UK based reggae band from the 1980s playing to a packed audience at the Parliament in Colombo. rn rnThe […]
Setting Up Shop
Cisco Systems Inc., Thursday announced plans to expand its presence in Sri Lanka through active participation in the countrys strategy to leverage ICT.With Sri Lankas networking growth above the regional average of 10 per cent, Ciscos President for South Asia, Manoj Chugh says the trend could improve with the ICT strategy.rn rnChugh added that with […]
Expected Cut
The Central Bank Thursday lowered its key short-term rates with immediate effect, signaling an improvement in macro economic fundamentals.The bank cut its repurchase rate by 50 basis points to 9.75 percent and the reverse repurchase rate by 100 basis points to 11.75 percent.rn rnCommercial banks and other financial institutions are also expected to reduce their […]
Getting Online
The UNF government on Wednesday launched its ambitious strategy to develop Sri Lankas Information Communication and Technology (ICT) sector by 2006. rnThe eSri Lanka road map will act as the blueprint that will guide all stakeholders towards transforming the country into an IT hub. rn rnFive broad areas for development have been identified including implementation […]