Category: Special Reports

Technology is offering opportunities to add value and new services to the local banks both foreign and local banks have started offering Internet banking which they hope will also bring down their operating costs. During a typical mid day in Colombo the traffic comes to a stand still.It is not the time to be running […]

The Central Bank has adopted International Accounting Standards in a bid to improve transparency and governance in the institution. The move is part of a larger donor funded plan to modernize Central Bank operations. rnrnThe Central Bank, which holds and manages the countrys official reserves, has been preparing its Annual Accounts to meet requirements of […]

A case in point, Baseline road, is probably Colombos only super highway. But it took a while for the road to get to where it is today. And there is still more to go.rn rnThe delays were due to problems ranging from land acquisitions to contractor delays. Delays in large infrastructure projects like the baseline […]

Lawmakers are starting to take the mushrooming finance and investment companies seriously.A high-powered committee looking at financial sector reforms is now trying to widen the regulatory net to cover all companies collecting public funds. While most of these operate beyond the scope of regulators some are using loopholes in the law the to avoid regulation […]

Businesses are going online to deliver customer needs round the clock. While 24-hour accessibility has opened up new opportunities there is also the added responsibility of being operational all the time. For every time the system goes offline the company loses business and credibility. rn rnA concept known as Managed Availability is fast catching on […]

International call charges are expected to fall further, when a new system of short codes that will allow customers to access an external gateway of their choice comes operational.rn rnExperts say that the move also cements could help reestablish the island as a regional leader in telecom regulation. rn rnInternational call costs fell by over […]

The Central Bank says consumerism contributed significantly to last years economic revival. Economists pointed out that the country is showing the early signs of a consumer demand driven growth.Economists say a fledging peace process created higher than expected demand for goods and services last year.rn rnldblquote In the past we looked at growth only from […]

As a British colony, Ceylon was favoured for sourcing raw material and other commodities to satisfy the boundless tastes of the English. From its teas to exotic spices all exports went out in raw commodity form.Over half a century after independence, things have changed very little.rnSome of the countrys top exports still go out in […]

Ambitious plans for double-digit GDP growth is at the back of the governments mind in a post-war era. More importantly, economic growth must benefit the man on the street. While experts say that GDP growth in the open market era has widened the rich and poor divide, economists point out that while the rich-poor gap […]

Super markets are a big hit in Colombo. Most of them now try to entice the middle-income earners to the concept of everything under one roof from the mom-and-pop corner shops that have been around for decades.rnThe new Elephant House Super Pola is using the concept to grab the average corner store customer.rn rnIt attempts […]

Every day for twenty-five years Louisa Nona has been coming to the pavement of the Pettah private bus stand with a load of betel leaves to sell.Often she returns home with more left over betel leaves than she could carry.rn rnThings are different these days.rn rnThis has nothing to do with her appearance but everything […]

Prime government land could soon be released for development to the private sector under a new plan to put them to more productive use. The government, which is the largest landowner in the country, plans to implement the scheme with donor support.rnA top investment bank has already been given the mandate to come up with […]