Category: Industry
Lack of Trust
The securities watchdog on Thursday said it was talking to the Unit Trust industry to generate new ideas on how to grow the sector. Initial recommendations include awareness programmers like seminars and road shows in areas with potential investors as a means to popularize the industry.rn rnAnother recommendation calls on the industry to introduce innovative […]
Meeting Of Minds
The Commercial Bank of Ceylon and the Ceylon Bank Employees Union (CBEU) recently entered into a Collective Agreement pertaining to salaries and other perquisites offered to two categories of staff.According to the new agreement effective retrospectively from April 1, 2003, Junior Executive Assistants would receive a 15 per cent salary increase for the first year […]
Washing Up
Sri Lankas two giant industrial zones, Moratuwa–Ratmalana and Ja-Elaemdash Ekela, are in urgent need of a clean up endash in Ratmalana the ground water quality is so poor it cant even be used in garment washing plants without first being treated and certainly cant be used for cooking or drinking.Finitex – a garment washing and […]
Welikada Exchange
The Welikada prison and its 7,000 inmates will relocate elsewhere to make room for Sri Lanka Telecoms expansion plans into the business of call centre outsourcing. SLTs Telecom City project that will provide in house technology to outsource call centre operations and various other ICT related services would acquire nearly 60 acres of land currently […]
Dont Blame Me
Free incoming calls for cellular phones have been shelved indefinitely due to the ongoing political spat, a top government minister said Monday.Telecommunications Minister Imthiaz Bakeer Markar says all mobile phone operators were ready to roll out the new tariff structure by January 1, but the current political problems have delayed the process.rn rnWhen President Chandrika […]
Racing Tips
Sri Lanka Telecom is asking the government to sell the balance 49.5 percent it owns in the firm in small parcels through an international listing.Last October, the government said it hopes to sell a further stake in the telco operator and is presently exploring various exit options.rn rnSLT Chairman Thilanga Sumathipala says an international listing […]
Cyber Cabbage
The Govi Gnana System (GGS), a pilot project under the e-Sri Lanka initiative will go live at the end of the week at the Meegoda and Dambulla economic centres, offering vendors and buyers an index of wholesale prices for over 143 varieties of vegetables. The price information system is however only the first phase of […]
Easing Leasing
The Treasury has assured the leasing industry to review a proposal in the budget to tax lease assets at market value at the end of the leasing period.Under heavy lobbying from the leasing industry, Finance Ministry officials have decided to review the provision that would have forced leasing companies to pay tax.rn rnLeasing industry doesnt […]
Early Bonus
Minimum take home pay for workers has been raised to Rs. 3,000 to keep in line with the government sector salary increment.So far, 12 sectors ranging from apparels to security trade have been ordered by the Wages Board to revise their salary structure with immediate effect, Labour Commissioner General, Mahinda Madihahewa said Friday.rn rnThe sectors […]
Paid to Leave
Laid off workers will not only be paid for past and future service foregone, by employers but will also get a government dole to go home. The government rubber-stamped a compensation formula to streamline worker lay-offs during restructuring, through a gazette notification on December 31, 2003.rn rnldblquote All private sector workers laid off before retirement […]
Spilitting Hairs
Sri Lanka Telecoms much talked of marriage with Lanka Bell is getting delayed, as the Treasury has not given its blessings.SLT Chairman, Thilanga Sumathipala says Treasury approval is a mere formality, but the delay, prevents SLT from consolidating Lanka Bell into its 2003 accounts.rn rnldblquote SLT board has approved the acquisition, but we need Treasury […]
Closing Shop
State lending arm, the Private Sector Infrastructure Development Company (PSIDC), is to be wound up after funding just two projects in its five-year term.PSIDC was floated in 1996 to manage a state owned fund, offering long-term subordinated debt to support private investment in infrastructure projects.rn rnDriven largely by the World Bank, US$ 70 mn in […]