Category: Industry
TXT Cash
Cellular operator, Celltel Lanka has introduced a secure mobile wallet, which enables its customers to make payments through text messages.The first of the kind in the region, the lquote CellWallet provides encrypted electronic storage for information pertaining to a users credit cards, debit cards, bank accounts and other personal data.rn rnThe product is jointly developed […]
Setting Standards
Sri Lanka will join the fleet of countries that have adopted the World Trade Organisations agreement to standardise customs valuation procedures. Customs officials hope to implement the terms of the agreement from November, introducing a regime of fair, uniform and neutral valuation system, conforming to commercial realities and eliminating the use of arbitrary or fictitious […]
Plastic Money
Central Bank quote s Superintendent Currency, Chitra Ariyaratne confirmed that the Rs.200.00 was being systematically removed from circulation due to its failure to stick to people quote s pockets.rn rnThe Central Bank printed 20 million notes in 1998 to celebrate 50 years of independence endash introducing Sri Lanka to its first Rs. 200 denomination and […]
‘e9
In a bid to get a competitive edge Lanka Bell has tied up with Harris Corporation of USA to bring in a High-end wireless broadband network. Forty data links have already been installed.rn rnLanka Bell plans on providing this technology to residential customers as well.rn rnBellnet is expanding with a Cyber Caf’e9, which will open […]
Commercial Drive
Savings banking giant NSB has sought approval for more commercial lending in an attempt to broad-base its mammoth deposits. rn rnThe bank has sought changes to its Act through the financial reforms committee to enable them to lend more to private sector companies.rn rnAbout eighty two percent of the bank quote s Rs. 125 bn […]
Bridging The Gap
For centuries people of India and Sri Lanka have used the Palk Strait as a channel of transportation of goods and services. The economies of the two landmasses have gained immensely.But who would have expected this legendary Hanumantha (Or Hanuman) sea link to become a reality. rn rnThe two governments are drawing up a plan […]
Bell broadband caf’e9
In a bid to get a competitive edge Lanka Bell has tied up with Harris Corporation of USA to bring in a High-end wireless broadband network. Forty data links have already been installed.rn rnLanka Bell plans on providing this technology to residential customers as well.rn rnBellnet is expanding with a Cyber Caf’e9, which will open […]
SLT Indian connection
Sri Lanka Telecom tied up with Indian Telecommunications company Bharti Telesonic to channel overseas traffic between the two countries.The direct link from Colombo to Chennai provides higher bandwidth and a better service for customers.rn rnSLT also expects its revenues to soar as a result of the deal.rn rnldblquote There are well over 2 billion minutes […]
Habib Bank moves out
Habib Bank AG Zurich was formally taken over by Hatton National Bank recently.rn rnAcquisition of Habib bank quote s assets of over 2 billion rupees has strengthened HNB quote s balance sheet of over 100 billion rupeesrn rnInternational banks are moving out to concentrate on familiar markets closer to home. rn rnldblquote Strategic decision taken […]
Matchmaking
The first phase saw the CEO of US based Washington Technology Partners Inc., Abhishek Jain scope out Sri Lankan companies best suited to support selected US IT market.rn rnOn his return to the US, Jain will shortlist around 15 companies and match them with US companies in early 2003 supporting direct business links. rn rnIn […]
Flat Roofs
The government plans to offer subsidies to promote low and middle-income houses through the November budget.rn rnState pension funds are talking to specialised housing banks like State Mortgage and Investment Bank and Housing Development Finance Corp. to lend around Rs. 150 mn at concessionary terms. rn rnSources said the Employees Provident Fund plans to lend […]
Single Lane
Malaysian based Road Builder Holdings has become the sole contender to finance and manage the Colombo-Katunayake Expressway.Work on the US$ 130 mn highway has started with the Treasury allocating Rs.10 bn to Keangnam Construction Company.rn rnNearly 14 parties earlier expressed interest to finance and take over management of the highway, eventually running it as a […]