Category: Industry
Online Outing
Initial talks with the Malaysian government saw the formation of a joint working group set up to identify Sri Lanka quote s Information Communication and Technology (ICT) needs.rn rnProjects identified by the committee include online registrations of ID quote s, drivers licence, passports, EPF, ETF, birth, death and marriage certificates. rn rnA Multimedia University is […]
Literary Overdrive
Less than a year after the launch of her first 10 books, this John Robert Powers model, Harvard lecturer and tech wizard has published ten more in a phenomenal burst of literary zeal.Seven of the new books deal with Ms Wirasinhas specialized subjects, computers and Information Technology, but in a characteristic display of versatility, she […]
Counting Bed Tickets
Sri Lankas health policy is gradually evolving, as the government studies the possibility of introducing paying wards into a so far, entirely subsidised health sector.Two task forces at the Health Ministry are working on a suitable model to convert around 10 percent of the beds in state hospitals into paying wards.rn rnThe World Bank and […]
UDA Debentures
The Urban Development Authority wants to kick start the construction industry by leveraging its massive real estate holdings.The UDA has an estimated ten billion rupees worth of land in and around Colombo city. The government agency, which is part of the Western Provincial Development Ministry, wants to release some of its land to developers.It also […]
New Lease
HNB securities issued unsecured subordinated debt to its owners the HNB group to carry out the recapitalization. rnCEO Rienzi Wijetileke told Lanka Business report that the money was injected in June after the primary dealer suffered heavy losses in its portfolio. rnHNB securities, a fully own subsidiary of the HNB group turned around posting a […]
Rest Assured
Monies for the fund will come on quarterly basis from a 0.2 percent cess on Life Funds and 0.4 percent cess on premium incomes of the General Funds, Insurance Board of Sri Lanka Director General, Dr.Dayanath Jayasuriya said Friday. rnrnPremium incomes for 2001 stood at Rs. 16,858 mn or a 1.2 percent of GDP. Premiums […]
Dozen Inquiries
Up to 90 percent of SLIC is up for grabs with the government keen to get a reputed investor to manage the life and general insurance giant. rnThe Potential investors would get management control with a possible option to buy the ten percent stake held by the employees. rnThe formal sale process is expected to […]
The Urge To Merge
Janashakthi, which originally bought 51 percent NIC acquired the balance 39 percent held by the Treasury this week for 287 million. rnldblquote We have been working on the merger ever since we have bought the shares, dblquote the Chairman of the company Chandra Schaffter says. rnldblquote We have also bought the shares of the staff, […]
Spring Cleaning
Ministry efforts to set up an office of pension reform are already moving ahead, with a tripartite advisory committee to address all stakeholder issues.rn rnThe joint structure of government, employers and worker unions will thrash out concerns regarding retirement benefits and what is seen as a changing government role in the country quote s retirement […]
First Lap
Around 17 prospective investors have expressed interest to take a controlling stake in state insurance giant Sri Lanka Insurance Corp (SLIC).rn rnUp to 90 percent of SLIC is up for grabs and the government is keen to get a reputed investor to manage the life and general insurance business. rnrnPotential investors would get the management […]
Less Heavy
Deutsche Bank Tuesday reported a 59 percent drop in post tax profits after shedding its personal banking portfolio.
Out With MICE
rnThe decision was taken at the largest trade show on MICE tourism endash the European Incentive Business Travel Meeting (EIBTM) at which Sri Lanka participates each year.rn rnldblquote The objective in creating the definition is to encourage each meetings industry association to use a consistent message to stimulate better overall industry recognition dblquote , a […]