Category: Industry
Cooling Off
Tension between key telecom operators and the government eased Friday with both parties forming a working group to iron out issues.rn rnThe working committee will meet on February 13 to untangle issues on local access charges, ways to prevent illegal access and rules to prevent cross subsidies. rn rnMinistry sources said the issue will be […]
Big No
The cabinet has taken a firm stand to disconnect the licence of any telecom operator who refuses to toe in line with the new telecom liberalization policy.At a meeting headed by Premier Ranil Wickremesinghe, cabinet opted to go ahead with its liberalisation policy, which includes the hotly debated interconnection issue, making it compulsory for all […]
Hotline
The upcoming interconnection agenda will pull together a common database of phone numbers, which will be managed by the telecom watchdog.The upcoming interconnection agenda will pull together a common database of phone numbers, which will be managed by the telecom watchdog.The common records will act as the base for networks to provide their customers with […]
U-Turn
The Seylan Merchant Bank (SMB) Group has posted a 122 percent growth in profits after reporting a loss in 2001.The Groups pre-tax profits rose to Rs.11.3 mn for the period ending Dec.31, 2002 from a Rs. 51.7 mn loss in 2001. rn rnThe Banks pre-tax profit grew 104 percent to Rs. 2.2 mn from a […]
I Do
New interconnection policies may require external gateway operators to make minimum traffic commitments with network operators. The Telecommunications Regulatory Commission (TRC), on Friday published the draft interconnection framework, a base document that will guide operators to negotiate charges for accessing and providing access to telecom networks.rn rnThe interconnection framework is the missing jigsaw in a […]
Life Support
Life Insurance Corp. of India has secured regulatory approval to start a life insurance unit in Sri Lanka.Teaming up with the Bartleets Group, LIC has invested Rs.100 mn to purely cater to the local life insurance business.rn rnLIC controls 75 percent of The Life Insurance Co (Lanka) Ltd with Bartleets owning the balance.rn rnCEO R […]
Stars For Lotteries
Just before the national lottery is slated to move into private hands the lotteries board is unveiling a new code of behaviour. Officials say the board is going to launch a media campaign warning people against dicing with their last penny.rn rnThe National lotteries board will also stop its agents from selling lotteries to minors.rn […]
Communal Records
The population registry is touted as a first step in implementing e-governance in Sri Lanka and forming an integral part of the e-Lanka initiative. rn rnThe registry will combine state records of the Sri Lankan population now idling in different state departments.rn rnThe database will provide all state departments with ready access to records needed […]
Wrong Number
Policy makers agreed to come forth with a revised date plan to issue external gateway licences, decided at a stakeholder meeting on Wednesday. rnrnTelecom operators on January 24, united to lobby against the draft External Gateway Operator (EGO) licence citing shortcomings including the lack of access tariffs. rn rnA lack of an interconnection framework also […]
Riding High
DFCC Bank on Thursday secured a SL AA national rating from Fitch Ratings for its implied long-term unsecured senior debt. SL AA long-term rating denotes a very low expectation of credit risk. The rating indicates a very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events, Fitch […]
Double Decker
Peoples Leasing is planning to securitise a further Rs. 500 mn of its bus lease portfolio to ease its maturity mismatch.The new issue comes after the company successfully placed Rs.500 mn last month. rn rnPeoples Leasing has become one of the top five players in the local leasing industry within a short period of six […]
Patience!!
The Central Bank on Thursday responded to the public debate on Pramuka Savings & Development Banks crisis, by saying it will reveal all as the weeks go on.In a lengthy six-page statement, the monetary authorities gave a brief description of its actions since Pramukas licence was cancelled in December 18, 2002.rn rnDespite several warning letters, […]