Category: Industry
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 […]
New Alliance
A new entrant to the primary market in Government securities wants to make investments in Government debt more attractive to retail investors.Capital Alliance, which got a Central Bank license as a Primary Dealer recently, plans to put out innovative products to allow investors to get over problems of high minimum investments in Government Debt.rn rnldblquote […]
TATA Push
Tata Automobiles of India, which launched a large selection of its vehicles to the local market, has found ready buyers among the countrys parliamentarians and police force.The company, which has managed to sell a large number of its SUVs to parliamentarians under an Indian credit line has also got an order from the police force […]
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 […]
Buying Space
The telecom regulator is awaiting Ministry approval to allocate two frequency slots in the 1800 MHz range, of three put up for sale. Telecommunications Regulatory Commission (TRC) Director General, Themia Hurulle on Wednesday said that the documentation for the allocations would be presented to the Secretary to the Ministry of Mass Communication during the week.rn […]
Roll Out
Legislature to roll out the e-Sri Lanka initiative is to be debated in Parliament on May 22. Economic Reforms, Science and Technology Minister Milinda Moragoda told participants at the first e-government conference on Friday that the ICT Bill was approved by Cabinet recently and would be debated in Parliament shortly.rn rnThe bill will formalise the […]
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to guide the industry and ensure its sustainability.The Chamber of Construction Industry on Thursday said ad hoc and outdated policies were hampering growth and wasting scares natural and human resources.rn rnPresident of the Chamber Surath Wickramasinghe said clear state policies on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 […]
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 […]
Going Once
The first online auction to sell four-digit international short codes for the telecom sector will get under way on May 22, the telecom watchdog said Wednesday.The Information Communication Technology (ICT) firm, who will design and run the auction will be announced on Thursday, picked from proposals submitted in response to the regulators call, Prof.Rohan Samarajiva, […]
Mooring Point
Sri Lanka Telecom (SLT) will set up its first point of presence (POP) outside the country – in the United Kingdom which generates close to 30 per cent of its international incoming voice traffic. UK is SLTs second largest call generator after India which accounts for nearly half of its incoming traffic. rn rnSLT officials […]
Smooth Talk
DFCC Bank plans to start due diligence work on MERC Bank next week and hope to finalise the transaction within two-months, a top official said Wednesday.DFCC said earlier it was in talks with MERC Bank, with the intension of acquiring it.rn rnldblquote Things are progressing. We have been open about our intensions to get a […]
Dead End?
Its back to the drawing board for the Colombo Katunayake highway project, facing its latest setback with the imminent pull out of only contender Road Builder Holdings.Last October, Malaysian owned Road Builder Holdings were sole contenders to complete, manage and operate the four lane, 25 km airport highway.rn rnThe biggest snag officials say has been […]