Category: Industry
Study Hall
The Institute of Personnel Management (IPM) is trying to leverage growing local and regional interest in people management to position Sri Lanka as a human resource (HR) activities hub in the region. IPM will host its annual lquote HR Conference and Service Providers Exhibition at the BMICH on May 19th and 20th followed by the […]
Interesting News
Commercial Bank of Ceylon saw its earnings take a dip during the first quarter of 2004, largely due to losses from its primary dealer subsidiary and higher taxes.Group profits were down 6.9 percent to Rs. 319 mn for the three month period to March 31, from Rs. 343 mn reported during the same period 2003.rn […]
Fire Fire!
The Insurance Board of Sri Lanka (IBSL) is studying the Sri Lankan industry and international practices to modernize and reform the insurance regulatory framework in the country.IBSL is trying to bring modern regulatory practices to an industry that has seen little regulatory supervision during the last half century.rnWhen the IBSL took over, there were concerns […]
Profit Centre
Moving ever closer to a long proposed IPO, Software solutions developer Virtusa Corporation recently completed its Series D round of financing, securing US $20 million. The fourth round of funding for Virtusa was led by Focus Ventures, with participation from existing investors Sigma partners, Charles River Ventures and Globespan Capital Partners.rn rnThe fresh infusion increases […]
Jetlag
Tough competition from bus services plying the North and East routes and the expected slowdown in the number of Sri Lankan expatriates returning to catch a glimpse of their once time home could force local operators to absorb the increased cost of jet fuel and keep ticket prices at the current levels. A senor official […]
Spoilt Brats
The latest threat to Colombos privileged is small, pesky and deadly. Municipal authorities reveal that Colombo citys better off are under attack by dengue mosquitoes.rnrnThe Colombo Municipal Council (CMC) says that 70 percent of all reported dengue cases in Colombo now come from upper and middle class families.rn rnldblquote Four to five years ago 60 […]
Thumb Tags
Sri Lankans applying to enter the US will be electronically fingerprinted with effect Wednesday, as the US toughens security laws at its embassies and consulates in 120 countries. Together with the standard digital photograph, the fingerprinting process will be the second biometric indicator on all visas to the United States.rn rnldblquote It is designed to […]
Risk Return
In its strategy to concentrate its resources to grow its core competencies, the John Keells Group is outsourcing its entire insurance portfolio to Delmege Insurance Brokers.The Delmege-AON partnership that won the contract, will be called on to provide, in addition to regular insurance, specialized services including risk management, loss control and business consultancy.rn rnThe Keells […]
Small Change
Putting its money where the community level work is, the World Bank today doled out Rs. 4 mn to enhance the work of eight non-governmental organisations (NGOs). The small grants programme deviates from the usual funding style of the World Bank, usually associated with mid sized to massive community projects rolled out by State representative […]
Disclosure
Sri Lanka was rated 3.5 on ten by top rating agency Dun & Bradstreet for willingness of its companies to disclose information. Amidst state politics and a tradition of privately held family businesses, South Asia is easily one of the most difficult regions in the world to collect information. rn rnSri Lanka is no exception, […]
Making Up
Commercial banks returning from a long holiday week soaked up the excess cash in the banking system, pushing up inter-bank interest rates. The inter-bank borrowing rate rose to the 7.75 per cent level, from 7.50 per cent on Monday and a flat 7.40 per cent throughout the previous week. rn rnMoney market analysts say heavy […]
Leg Up
Travel Agencies in Sri Lanka can now book travel on Jetstar Airways, Australias new low-cost domestic carrier, following an agreement between the airline and Galileo International, a leading global distribution services company and subsidiary of Cendant Corporation. Under the agreement, Galileo is providing a simplified level of GDS distribution to Jetstar to complement the carriers […]