Category: Industry

Commercial Bank of Ceylon on Tuesday reported a 34 percent net profit growth for the nine months ending September 30.rn rnThe bank said net profits surged to Rs. 952 mn from Rs. 711 mn in 2001 due to higher volumes, prudent management decisions and the removal of a 20 percent surcharge on income tax.rn rnRevenue […]

Withholding tax would be slapped on corporate debt from the first of November, a treasury public notice said. rn rnSecondary market trading in debt securities is still very limited in Sri Lanka and analysts warn that this may be the final blow to any hopes of a take off in trading.rn rnWithholding tax makes secondary […]

Audry was forced to leave her job as a Management secretary due to work related stress. Her employer, a leading department store in Britain did not recognize that work related stress could affect employees.rn rnAudry suffered spells of depression and her job performance slumped.rn rnldblquote I got more and more backwards. My family life suffered. […]

The banking service was purchased outright by NTB while the foreign exchange operations will be done on an AmEx franchise.rn rnTravel services will be delivered through a newly formed joint venture with Mackinnons travels a John Keels Holdings company.rn rnNTB says the cost of acquisition of the 3 main lines of AmEx business was minimized […]

Sri Lanka quote s accounting watchdog has asked several listed companies to correct their accounts released during the last two years.rn rnAmong the companies rapped by the Sri Lanka Accounting Standards Monitoring Board in 2001 are Asian Hotels Corporation, Trans Asia Hotels, rn rnwhich is in the same group, Alliance Finance, Central Finance, Blue Diamonds […]

The bank supervision department of the Central Bank said Parmuka will not do business during this period and the public should await a further communication from the Central Bank.rn rnCentral Bank said it was making the order in terms of the Banking Act.rn rnThe Bank Supervision Department of the Central Bank would conduct a detailed […]

A committee appointed by the Finance Ministry to merge revenue agencies, was trying to determine if the proposed revenue authority should be run by public servants or by experts hired from the private sector.rn rnThe government in its budget proposals announced the plans to set up the agency by merging The Customs, Excise and Inland […]

National Savings Bank launched a savings based pension scheme ldblquote Friends dblquote recently.rn rnThe bank says the account that offers a monthly interest of over nine percent is a good investment since inflation rates are expected to fall to single digit levels.

The World Bank is taking a new approach in lending to the poor.rn rnIt quote s letting the people decide where they want donor money spent. rn rnIn the war ravaged north and east the needs are pretty basic.rn rnPeople want school buildings for their children to study in, irrigation ditches to water their crops […]