Category:
Natures Reward
The Association of Chartered Certified Accountants of the UK introduced their environment and social sustainability reporting awards to the country recently.ACCA says both listed and unlisted companies can submit their annual reports for the first awards starting next year.rn rnThe awards system comes on the back of growing pressure from stakeholders for greater disclosure in […]
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Consolidation in the financial sector over the last few years has resulted in small banks that were struggling for survival being taken over by the larger players. Banking sector analysts say the trend will continue leaving half a dozen banks dominating the financial landscape.rn rnBut it is not just the banking operations that are seeing […]
Glorious Colombo
Prime Colombo land including the Colombo port should be available for private sector developers according to a Colombo City Master Plan to be unveiled soon. The first land to come up for private sector development is however a nine-acre plot in Colombo Fort for commercial development.rn rnIt is not unusual for old buildings to be […]
New Case
The Telecommunications Regulatory Commission (TRC) has filed a fresh petition against Mobitel (Pvt) Ltd in Fort Magistrates Court on Friday, with summons returnable on December 10.TRC withdrew its case from Colombo Magistrates Court on the same day.rn rnSoon after the withdrawal Mobitel said in a statement that: ldblquote The withdrawal by the Attorney Generals Department […]
Four Stars
A four-member team from Sri Lanka Insurance Corp.s technical partner ING, started work this week to give the former state insurance giant a facelift.The team will initially give tech support for re-insurance, product development, actuarial services and IT, SLIC Director Damien Fernando told Lanka Business Online.rn rnldblquote They started work on Monday and will be […]
Lazy Stroll
lquote Nature tourism is still slim business. An expensive niche; But a steadily growing market for eco-tourism are where top hotel chains and other blue-chip conglomerates are fast putting their dollars.An ancient drum roll away from King Kashyapas Sigiriya is a 24-acre stretch of abandoned rice paddies. Nestled into the land and overlooking a vast […]
The Battle Begins
In the lquote good old days – a by gone era, where kids played with simple toys like paper guns and ran riot in the house chasing a sibling or friend and called it cops and robbers or some war game are over. Times and the technology has changed.Today combat games are played with laser […]
Growing Up
The Seylan Merchant Bank (SMB) Group has reported a three fold growth in pre-tax profits for the third quarter ending Sept. 2003.Consolidated pre-tax profit at Rs 33 million, was up 363 per cent for the period ended September 30, 2003, from Rs 7 million in the corresponding period last year.rn rnThe Groups Net Income also […]
Red Alert
Ahead of World AIDS day on December 1st, the good news is Sri Lankas low AIDS numbers, but the bad news is the countrys high vulnerability to the disease. To stem the tide, the World Bank is considering financing AIDS treatment drugs as part of its ongoing US$ 12.6 mn HIV/AIDS package to Sri Lanka. […]
Another First — Updated
The telecom watchdog on Tuesday came out of cold storage to flex its legal muscle and file charges against Mobitel (Pvt) Ltd for defying regulators orders.This is the first time in history the Telecommunications Regulatory Commission (TRC) has taken an operator to court.rn rnFiling papers at the Colombo District Court, the regulator said that Mobitel […]
Leg Up
The Sri Lankan rupee is on course for a firmer footing against the US dollar, despite recent political cross currents that have shaken the currency.After appreciating some two percent against the dollar, the currency has hit some rough weather due to the ongoing political tussle.rn rnThe rupee closed weaker at 96.00 against the greenback on […]
Lucky Dip
The Mahapola Trust Fund is matching numbers with US lottery solutions provider, GTECH to spin off its own sweepstakes operation next year.Betting Rs. 400 mn on the operation, the Fund will get full ownership and a minimum Rs.500 mn retutn on investments, its Director General, Shamila Perera told Lanka Business Online. rnrnFor its part, GETCH […]