Category: Industry
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 […]
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, […]
Road Barons
UML will pump around Rs.100 mn into the joint venture, with plans to expand the motorbike marketing venture into local assembly under a second stage, United Motors Lanka Managing Director Anil Wijesinghe told Lanka Business Online.rn rnWijesinghe said the two firms ldblquote have successfully concluded negotiations on entering into a joint venture partnership. dblquotern rnMotor […]
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 […]
Rich Dividends
The NAMAL Income Fund (NIF) has declared its second dividend of Rs. 0.75 per unit for the six months ending Dec.31, 2002.With this distribution investors have enjoyed a gross dividend of Rs 1.50 per unit for 2002. The fund paid Rs 0.75 per unit in July 2002, NAMAL said in a statement Wednesday.rn rnDuring the […]