Category: Industry
Destination Sri Lanka
Government is putting together US$ 4 mn to promote Sri Lanka as a tourism destination.A fund of US$ 1 mn to develop professionalism in the tourism industry is also on the cards.rn rnThis was revealed at the launch of the Sri Lanka Association of Tourism and Travel an umbrella organization for the leisure sector.rn rnldblquote […]
Counting Votes
Applications counted by 4.30 on the opening day on Thursday, accounted for well over 50 % of the Sri Lanka Telecom Initial Public Offering (IPO), with a number of applications for large stakes yet to be processed.rn rnOfficials close to the issue estimated that over 15,000 applications had been received by the end of Thursday, […]
Just Short
Sri Lanka Telecom was Rs. 500 million short by mid morning on Friday, while managers to the issue continued to process applications.rnThe issue is expected to close today, with an official announcement expected in the evening. rn rnThe Colombo Stock Exchange said they had not received any indication that the issue would close today. rn […]
Cordial Connections
Consultants contracted to draw up a national interconnection framework will present a draft copy of the policy in the first week in December. In October 2002 the Telecommunications Regulatory Commission (TRC) picked an Australian based law firm operating out of Hong Kong, to map out a fresh route to interconnect between operators.rn rnSenior industry officials […]
Eco Drive
The six-month study will draw up an eco-tourism policy document for the country and the outlines for five pilot eco-tourism projects in the Southern region, Secretary to the Ministry of Tourism, Dr. P. Ramanujam said.rn rnSri Lanka sustains some of Asias richest biodiversity and has been identified as a hotspot for nature and eco-travel.rn rnIt […]
Eye Catching
A grey-haired man walked away with Rs. 100,000, prize money for capturing on camera a Sri Lankan leopard endash a near studio image where the predator is taking a quiet moment.Judges unanimously agreed that from the thousands of leopard pictures taken over the years, this stood out for capturing in addition to the expression of […]
Trickling Down
The banking sector is planning to pass on a small percentage of their costs to customers, when the proposed 10 percent VAT comes into effect from January.rn rnUnder the budget proposal, VAT is slapped on the aggregate net profit and employee related expenses of all banks and financial institutions. The financial sector was also denied […]
All In One Account
Tapping into a market segment with huge growth potential, Sampath Bank on Monday launched, ldblquote Sampath Profession dblquote , an account targeted at the busy young professionals with monthly earnings topping Rs.20,000. rn rnDesigned to act as a fund manager for busy professionals, the account is tied up with a host of banking products to […]
Village Assistant
Adapting digital technology to connect a small back village in Sri Lanka, a pilot project has just kicked off in Udagama to provide access to internet based information in Sinhala to some 575 families. The project will use the VillagePDA – entirely home grown, low cost Internet enabled devices developed by Media Solutions in Sri […]
Road To eLanka
The government unveiled a road map to wire the countries population for economic and social advancement.The Information communications technology plan is trying to put everything from the land registry to filing tax returns, online.rn rnGovernment says it has donor commitment to implement the e-Sri Lanka project over a five-year period.rn rnCritics say the countries telecommunications […]
Shady Deals
Central Bank quote s supervisors completed preliminary investigations on Pramuka Bank, as depositors awaited a final decision from the Monetary Board on the suspended bank.rn rnMeanwhile Pramuka Merchant Corporation, an affiliate financial firm, of the bank also stopped repaying its maturing bondholders.rn rnEmployees say that the bank has invested their provident funds in the bank […]
Share Tussle
Hatton National Bank will sell its Sampath Bank Holdings within days after the regulators gave the green light on Friday. rn rnThe Central Bank and the Securities and Exchange Commission gave the nod for a private sale to go ahead.rn rnSampath Bank, which has obtained a restraining order against the sale of shares by HNB […]