Category:
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Lower Lending
The Central Bank on Friday cut its key short-term discount rates by 75 basis points, in line with its policy of lowering rates.The bank lowered the reverse repurchase (reverse repo) rate to 10.25 percent, while the repurchase rate was cut to 8.25 percent.rn rnThe bank last cut rates by 75 basis points on January 7.rn […]
Listed Homes
State housing finance giant HDFC, has sought a quotation on the Colombo Stock Exchange by way of an introduction.The Attorney Generals Dept. has recommended Housing Development & Finance Corp. or HDFC to get a listing, prior to raising fresh capital.rn rnA valuation by consultants E&Y two-years ago valued HDFCs Rs. 100 share at Rs. 640.rn […]
Warming Up
Average prices for tea at the Colombo auctions dropped to Rs.145.02 by April from an average of Rs. 156.82 in 2002. Low grown prices lead the drop, affected since February by the US led incursion of Iraq. The tension in the Middle East saw low grown sales average in February drop below the high grown […]
Building a Case
The construction professionals are calling for a national policy to guide the industry and ensure its sustainability.The Chamber of Construction Industry on Thursday said ad hoc and outdated policies were hampering growth and wasting scares natural and human resources.rn rnPresident of the Chamber Surath Wickramasinghe said clear state policies on resource (like rive sand) use […]