Category: Industry
Home Loans
State-run housing giant, the Housing Development Finance Corp.(HDFC) is hunting for more cash to meet is Rs.2.0 bn loan disbursement requirement.rn rnChief Executive, C A Sarathchandra says the current economic revival has created a big appetite for low and middle-income houses. rnrnWith the corporation quote s loan disbursements, presently averaging around 1,000 per month, HDFC […]
Short Change
Treasury officials say that given the exemptions in the revised bill, initial estimates for the first year will have to be marked down. rnrnA slight drop to Rs. 2 bn is expected, Inland Revenue officials said, but any significant effect of the exemptions is likely to be seen once payment flows start at the end […]
Play Time
Deputy CEO Sarath Piyaratna says the bank is keen to develop their future customer base and this new initiative would be the first step.rn rnThe bank in recent years introduced a number of target market specific banking services to cater to the spectrum of ages. rn rnServices including the E-Saver endash targeting young adults and […]
CAT Walk
The Commercial Bank of Ceylon has improved its Internet Banking facility with several enhanced features.
Safety Net
A key component of the safety net is an unemployment insurance scheme for laid off workers. rnThis would supplement the compensation given by the restructuring company.rnA compensation formula that has already been announced is to be given legal effect later in the year. rnOfficials say the unemployment insurance may be funded by a one per […]
SLIC Reports Profits
State Insurance giant Sri Lanka Insurance corporation reported a billion rupee profit from on the back of a booming stock market.rn rnThe company suffered a marginal Rs. 2 mn on its core general insurance business. rnrnBut the profits came from a massive write back of provisions for stock market investments. rnrnHigh returns on government debt, […]
Abarthu.Com
Lanka Service Network or lquote JobsNet quote is built around a database of job seekers, employment providers, NGO quote s and training centres. rnrnThese are linked to service outlets set up in each of the country quote s 24 districts that will assist in job placements or access to information in Sinhala, Tamil or English, […]
Job Security
Sri Lanka Insurance Corp. (SLIC) unionised workforce plans to strike a pact to prevent employees being retrenched after the corporation in privatized this year.rn rnThe move comes after SLIC quote s 3,000 odd workforce got jittery after the government announced plans to divest up to 90 percent of the insurance giant. rnrnChairman Chrisantha Perera told […]
Cross Connection
Cellular operators have been asking for a Rs.2.00 tariff increase to offset network expansions and rupee depreciation costs. rnrnThe operators wrote to the Telecommunications Regulatory Commissions (TRC) last November, seeking a tariff revision, but the then Director General of Telecommunications, R D Somasiri failed to respond to their requests. rnrnIn April the situation came to […]
No Queues
Customers who maintain a balance of at least Rs.5 mn or US$ 50,000 in current or savings accounts, foreign currency accounts or deposits are eligible to become Priority Banking customers and receive numerous privileges offered at the Priority Banking Centre at No 1 Union Place, in addition to all the normal facilities available at their […]
Marathon Cabinet Run
A record thirty-six bills are to be passed by parliament in August and September covering the financial sector, utilities regulation, the monetary authorities and fiscal management. The first of these bills will be presented for Cabinet approval with in the next two weeks and will be put before parliament starting next month. rn”The Prime Minister […]
Stitch In Time
Diversifying its services in Sri Lanka while avoiding a future drop in its mainstay business, DHL will venture into the logistical and supply chain industry.Today DHL launched, China First, a concept were a manufacture can import goods from the East Asian trading giant and ship it to anywhere in the world all in one invoice […]