Category: Other
Conservative Outlook
Peoples Bank however says the Value Added Tax on banks introduced in the budget for this year will add up to over Rs. 600 mn during this financial year.rn rnPeoples Bank posted its highest net profit last year despite providing over Rs. 1.3 bn for possible loan losses.rn rnThe bank said aggressive deposit mobilisation and […]
Hub BIA
The country is readying it self for record tourist arrivals this year with the industry being the first to benefit from the peace dividend. Tour operators are also looking for a large part of that growth to come from the Asian region and also from the big neighbour India.rnHowever, the industry is also concerned about […]
Working Late
Cabinet cleared four amendments to the Shop and Office Act, supporting nighttime employment and an increase in workman compensation.If passed in Parliament in May, shops can remain open past 10 pm, while female workers will be allowed to work late nights, Labour Minister, Mahinda Samarasinghe told journalists.rn rnThe amendments also support employing female staff on […]
Paradise Bliss
Brides and grooms in search of the dream wedding locations with a tropical twist have found the ideal setting in local beach resorts.The south coast is slowly emerging as one of the top wedding destinations for Europeans who want a beach ceremony.Hotels that specialise in wedding packages say its more profitable to tap this market […]
Number Hunt
Telecom regulators are proposing a new numbering plan for telephones, which they say, will aid growth in the industry.If implemented the plan will change the countrys phone numbers for the first time in decades.Phone numbers are also a scarce resource the telecom regulator has to manage together with ldblquote rights of way dblquote and the […]
Cold Cuppa
The tea industry continued its ill fate with indications that around 25% to 30% of all teas brought to the weekly auctions in Colombo would remain unsold. Brokers say low prices and a lack of demand could lead to a liquidity shortfall ahead of the Sinhala Tamil New Year in April. The low grown sector […]
Act Two
The private sector is calling for amendments to the Consumer Affairs Authority Act that is due to come into force on April 1, saying it has too many holes.The Act became law on the March 17 and is due to come into effect from April 1.rn rnAmong key concerns is the impartiality of politically appointed […]
Mpowering Production
Trade chambers and companies are trying to convince financial institutions to cut lending rates in line with the government policy of single digit interest rates. Progress however has been slow.rnrnrn Companies are keen to minimise interest costs onrnterm and working capital loans.rnrnrn Consultancy firms specialising in improving thernsupply chain however say there are other ways […]
Money Talks
The Kopp Ceciles say this time theyve found heaven in their vacation. They are enjoying the peace and quiet of a secludedrnsmall boutique hotel in the southern Sri Lanka. The stuff picture postcards arernmade of.rnrnrn Most of all, they are enjoying the individual care andrnspace that they are receiving. It is costing them more than […]
Marketing Brands
Marketing professionals are rethinking brand strategies, as the country gets ready for a phase of growth and consolidation. Long thought out survival strategies are fast being replaced by aggressive growth plans. The changing fortunes on the economic front are posing a new set of challenges for brands faced with growing consumer demand and sophistication.rn rnThe […]
Dud Ball
Professional service sectors are trying to drum up support to push for amendments that will re-define the scope of the new Consumer Affairs Authority Act. rnrnPassed in Parliament in January, the Act has been heavily criticised for making a sweeping generalisation of controls available for all services as well as traders.rn rnThe Act was hauled […]
New Bud
A strategy to expand its investment options will see Amana Investments venturing into the tea brokering business shortly.Amana will hold a 55 per cent stake in the Rs. 15 million venture, with six other investors taking up the balance shareholding.The new firm endash Tea Commodity Brokers endash opens shop in early July and will tap […]