Category:
Wired Jackpot
Starting March, the National Lotteries Board will retail Sri Lankas first online lottery ldblquote Rapido dblquote through over 150 agents in the Western Province.Retailing at Rs 30 a piece with the chance of winning upto Rs 600,000 every fifteen minutes, NLB Chairman Mohan Wijesinghe says the new game will tap into the large segment of […]
Fine Incoming
The telecom watchdogs case against Mobitel (Pvt) Ltd is likely to be settled out of court, with the cellular operator suggesting a compensation package, which includes paying a million rupee fine. Sources close to the deal told Lanka Business Online on Friday that the cellular operator has also agreed to bear the regulators legal fees […]
Bad Grade
Sri Lanka is set to score very low in a second review of the peace process by the international donor community set for January 23. The first review in September 2003 pleased donors, who, at the June Tokyo donor confab tied US$ 4.5 billion in aid to progress with the peace process. rn rnCabinet Spokesperson […]
Lack of Trust
The securities watchdog on Thursday said it was talking to the Unit Trust industry to generate new ideas on how to grow the sector. Initial recommendations include awareness programmers like seminars and road shows in areas with potential investors as a means to popularize the industry.rn rnAnother recommendation calls on the industry to introduce innovative […]
Shop Talk
The cream of Sri Lankas business community on Thursday, failed to come up with a pressure plan to get the warring political parties to see eye-to-eye.Businessmen expressed various opinions and ways and means of pressuring the President and the Government towards a continuation of the peace process.rn rnThe Joint Business Forum (JBiz) weighted the pros […]
Taking Money
Parliament is due to pass a new law in February, to round up all financial institutions currently not governed by the Central Bank. The new system will legalise and supervise all small scale financing activity including lending and taking public deposits.rn rnCentral Bank last year named about 40 firms who were accepting deposits outside its […]
Calling Colombo
HSBC Group is pumping US$ 30 mn to set up its seventh group service centre in Sri Lanka, which will generate employment and put the country on the map as a serious contender in the global call centre business.Situated near the Chandra Silva stadium in Kotte, the call centre and back office unit would be […]
Hot Mix
Plantation companies are keen to push through a long over due productivity pegged wage formula when estate worker wages come up for negotiations in June 2004. The June negotiations will be a deciding factor for the plantations companies survival as they prepare for a tough year ahead. Work on possible productivity pegged alternatives are already […]
Washing Up
Sri Lankas two giant industrial zones, Moratuwa–Ratmalana and Ja-Elaemdash Ekela, are in urgent need of a clean up endash in Ratmalana the ground water quality is so poor it cant even be used in garment washing plants without first being treated and certainly cant be used for cooking or drinking.Finitex – a garment washing and […]
Meeting Of Minds
The Commercial Bank of Ceylon and the Ceylon Bank Employees Union (CBEU) recently entered into a Collective Agreement pertaining to salaries and other perquisites offered to two categories of staff.According to the new agreement effective retrospectively from April 1, 2003, Junior Executive Assistants would receive a 15 per cent salary increase for the first year […]
Business Talk
Business leaders from SAARC countries are calling on the governments to initiate regional cooperation to develop eight identified areas in return for greater intra-regional investment and trade. The private sectors of the SAARC countries – represented by seven leading chambers of commerce – suggest regional cooperation in the areas of trade, services, investment, tourism, agriculture, […]
Greenlight
The Colombo Stock Exchanges debt trading system is likely to take off this month, giving smalltime investors closer access to the government debt market.Seylan Merchant Bank, who became the first of the five members to get a licence, says they plan to roll out operations this month.rn rnThe DEX allows the public to buy and […]