Category: Industry
Deposited Trust
Commercial Bank of Ceylon has put aside Rs.25 mn to set up a social responsibility trust to foster community development projects islandwide.Sri Lanka’s most profitable privately held bank said it would contribute one percent of its post tax profits each year to feed the Trust. For the six months ending June 30, the Commercial Bank […]
Wiring Sri Lanka
The World Bank late Tue approved US$ 53 mn to roll out the e-Sri Lanka project, which aims to bridge the digital divide in Sri Lanka.The World Bank late Tue approved US$ 53 mn to roll out the e-Sri Lanka project, which aims to bridge the digital divide in Sri Lanka. Rolled out through the […]
Internet Banking
The World Bank agrees to support the E-Sri Lanka programme, to bridge the island’s digital divide, with a US$ 53 mn credit package.The World Bank agrees to support the E-Sri Lanka programme, to bridge the island’s digital divide, with a US$ 53 mn credit package. The World Bank on Tuesday approved a US mn credit […]
Offshore Cover
British insurance giant Aviva will send up to 950 more jobs to India and Sri Lanka in 2005, out sourcing its back office and other support functions.British insurance giant Aviva will send up to 950 more jobs to India and Sri Lanka in 2005, out sourcing its back office and other support functions. The jobs […]
Safe Pitch
Fitch Ratings Lanka has assigned an AA-(sri) entity rating for DFCC Vardhana Bank, a subsidiary of DFCC Bank.Fitch Ratings Lanka has assigned an AA-(sri) entity rating for DFCC Vardhana Bank, a subsidiary of DFCC Bank. With a ‘stable ratings outlook’, an AA- (sri) rating indicates low credit risk and a strong capacity to honour financial […]
Double Celebration
Rising profits from passenger sales, catering, ground handling and an accounting standards change helped SriLankan Airlines buck the international trend and show a 75 percent profit jump last year.Rising profits from passenger sales, catering, ground handling and an accounting standards change helped SriLankan Airlines buck the international trend and show a 75 percent profit jump […]
Watershed
In a compromise with its new coalition partners, the Ceylon Workers Congress (CWC), the Government has agreed to water down its Upper Kotmale Hydropower Plant . In a compromise with its new coalition partners, the Ceylon Workers Congress (CWC), the Government has agreed to water down its Upper Kotmale Hydropower Plant . The compromise is […]
Rural Reach
Telco experts from the Commonwealth say more rural initiatives are needed to bridge the digital and economic divide with urban neighbourhoods.Telco experts from the Commonwealth say more rural initiatives are needed to bridge the digital and economic divide with urban neighbourhoods. Telco experts from the Commonwealth say more rural initiatives are needed to bridge the […]
Keep Guessing
Electricity tariffs were jacked up by about seven percent last week, taking not just consumers, but ironically, the sector regulator, by surprise.Electricity tariffs were jacked up by about seven percent last week, taking not just consumers, but ironically, the sector regulator, by surprise. The Public Utilities Commission (PUC) says it was not consulted on the […]
Biz Extensions
John Keells Holdings (JKH) could enter the Business Process Outsourcing (BPO) industry, leveraging its competencies in financial and information management and project implementation.JKH just deployed the mySAP ERP solution, an enterprise resource planning module that has under a first phase project, integrated the financial information and business intelligence of some 70 business units within the […]
Hotel stocks rallied at the Colombo Stock Exchange, which closed up two percent for the week
Hotel stocks rallied at the Colombo Stock Exchange, which closed up two percent for the week. Hotel stocks rallied at the Colombo Stock Exchange, which closed up two percent for the week. Brokers say there is high investor interest in hospitality sector stocks due to increasing tourist arrivals and higher spending by visitors. They say […]
Hurt retired
Hayleys AIG insurance says an expression by Ceylinco Insurance to acquire its life business has been passed down to its shareholders; the AIG group and local conglomerate Hayleys.Hayleys AIG insurance says an expression by Ceylinco Insurance to acquire its life business has been passed down to its shareholders; the AIG group and local conglomerate Hayleys. […]