Category: Industry
Different Lines
The telecom watchdog is looking at giving payphone operator Tritel, a facilities based licence to allow it to penetrate deeper into the rural areas. Tritel has been calling for a facilities based licence since 1999, to expand into rural areas that are not serviced by other telecom network operators. rn rnTritels service deployment is currently […]
Quick Dip
Conglomerate Hemas Holdings delved deeper into the tourism sector on Monday to pick up a 47 percent slice in Associated Hotels, the owning company of Lihiniya Surf Hotel.Veteran hotelier George Ondaatjies Mercantile Investment Group had sold his entire 2.6 mn parcel at Rs. 40 per share.rn rnThe family controlled companys core strengths lie in health […]
Bits of Crime
The long overdue Computer Crimes Bill is low on ram, but more laws are on the way to legalise digital signatures and set minimum security standards for electronic transactions. ldblquote The Electronic Transaction Act, that will legalise digital signatures, is now at the Legal Draftsman, dblquote said Senior State Counsel, Dilrukshi Wickramasinghe on Thursday addressing […]
You Call You Pay
Fixed line and cellular subscribers will pay up to Rs. 5 more per minute for calling a mobile user, possibly from March 1. The additional charge comes with a shift in the national telecom policy where mobile phone users will not have to bear the cost of an incoming call.rn rnInstead, any person making the […]
Korean Chips
Koreas Myunghim Lanka (Pvt) Ltd has signed up to build a US$ 18 mn township development project in Kalutara.The Board of Investment says the 100 percent South Korean investment will be spread over three-years, to give the Kalutara town a face lift.rn rnThe project would evolve in eight phases. rn rnFirst a Public Market with […]
Wheels Within Wheels
Leasing companies and private bus operators met on Wednesday under the direction of the National Treasury to sort out an administrative mess up of the newly introduced VAT on lease rentals of passenger coaches. rn rnThe Treasury directed leasing companies to set off any VAT payments made by bus operators – on lease rentals signed […]
Annual Chat
South East Asian Central Bankers will meet in Sri Lanka this week for its annual sessions and discuss matters of mutual importance.The Sri Lankan Central Bank is one of the founding members of SEACEN (South East Asian Central Banks), which has grown over the years to 12 members and six observers.rn rnThe SEACEN centre in […]
Free Bird
Floatplane operations are back in the skies and with expanded coverage after the National Security Council clipped its wings for a short period.ldblquote The Security Council imposed a suspension on floatplane operations in early January but lifted the its objections two weeks ago, dblquote said a official from the Civil Aviation Authority. rn rnAs a […]
Flying Birds
SriLankan Airlines air taxi service, called SriLankan Air Taxi, which took off in December 2003, has added two more destinations to its network. rnrnThe air taxi now flies to Anuradhapura and Hingurakgoda in the north central province in addition to its four other destinations.rn rnThe airlines amphibious eight-seater, Cessna Caravan seaplane takes off from Sri […]
Ouch
Nawaloka Hospitals says it is forced to nurse a Rs. 85 mn in debt and interest payments as its initial share issue gets delayed due to political theatrics.The hospital, which enjoys a healthy Rs. 125 mn in revenues per month, was hoping to raise Rs.300 mn through an initial public offering.rn rnNawaloka Hospitals (Pvt) Ltd, […]
Steady Ship
DFCC Bank saw a 16 percent rise in net profits for the nine months ending Dec. 2003, largely aided by falling interest rates and revenues from its associated companies.The development financial institution said group post-tax profits topped Rs. 933 mn from Rs. 801 mn reported in 2002.rn rnProfits from the banks own operations grew 69 […]
Second Line
Sitting fifteen floors up at the World Trade Centre (WTC) in Colombo, 350 new IT professionals will reap inspiration to develop solutions for Virtusas dominantly US based client portfolio. The US based customised IT solutions developer said on Tuesday that the firm was adding a second development centre in Colombo, growing its existing 600 IT […]