Category: Industry
Stop Smoking
Private sector assistance is being sought for a nation wide motor vehicle emission reduction programme that will get off ground in January next year.In a phased out project, extended till June, all of the 1.5 mn-registered vehicles on Sri Lankas roads are being geared to meet with emission criteria laid out by law.rn rnThe Registrar […]
Shorter Cycles
The bank has also awarded local IT firm, DMS Oracle, the mandate to automate its General Ledger system.rn rnCentral Bank quote s Assistant to the Governor, Dr. Rani Jayamaha told Lanka Business Online that both IT systems will be funded through an existing US$ 30.3 mn World Bank loan awarded for Central Bank reforms.rn rnBacked […]
Share Swap
National Development Bank plans to use a share swap to execute its impending merger with its commercial banking arm NDB Bank.rn rnIn an announcement to the Colombo Stock Exchange, NDB says shareholders of NDB Bank will be given shares in NDB, in exchange for the transfer of NDB Bank quote s net assets to NDB.rn […]
Express Clearing
The new US dollar cheque and draft clearing system kicked off Tuesday with transactions amounting to US$ 251,139 being processed on the opening day.rn rnThe new dollar clearing system, a first for the local banking sector, speeds up realisation of dollar cheques/drafts, eliminating what is ordinarily a three-week delay.rn rnUnder the current arrangement, lead times […]
Third Shift
Keeping in line with its court promise, the Public Enterprise Reform Commission called for fresh bids to infuse private ownership into the cash starved 13 state transport companies.PERC said it was offering a 39 percent equity stake, out of the shares currently held by the Treasury on behalf of the government.rn rnProspective investors have to […]
INFOTEL next month
The organizers have also put together a scheme to recognize champions in the industry through an awards scheme.
Transparency Online
Once data entry is complete the system will be put on line for anybody to check the status of public sector projects.rn rnAccess will come through the Internet site www.mpdinor.org.rn rnThis is part of an initiative of the Policy Development and Implementation Ministry to have a center to oversee all government spending in the country.rn […]
Dressed Up
Peoples Bank will use the grant to hire a consultant to draft the information memorandum to raise badly needed capital.rn rnThe State-owned giant has negative net assets to the tune of RS. 6 bn and is operating on a Letter of Comfort from the government.rn rnBank Chairman Lal Nanayakkara told Lanka Business Report that the […]
Selling On Line
Can we, sitting in a cosy room in Sri Lanka, sell insurance in America and Europe?rnrnSoon to be a common occurrence, selling value added services from a call centre based half the earth away is picking up pace in Sri Lanka. rn
Putting Structures
Local banking laws do not as yet have provision let alone regulations for specialised commercial banking, with long delayed amendments still in the pipeline.rn rnBut as success stories show, Islamic banking is becoming big business even in Sri Lanka and the call for regulation may not be far off the mark. rn rnldblquote We are […]
Express Dollars
Currently, clearing dollar drafts, dollar cheques etc drawn on local banks, takes a few weeks to clear.rn rnThe delays are longer if an outstation bank presents the foreign currency drafts/cheques to the clearing house.rn rnLankaClear quote s Chief Executive, L J Wickremasinghe says the new facility will kick in from October from their offices at […]
Calling Rural Folk
Plans to set up the fund are included under the new National Communications Policy that will replace the National Telecommunications Policy.rn rnSpeaking at Wednesday quote s seminar on Infrastructure Policy Reforms organised by the Ceylon Chamber of Commerce, Telecommunications Regulatory Commission (TRC) Director Palitha Gunawardene says more high level planning is required to see the […]