Category:
Coming Back
A cultural similarity in the insurance market was a big draw when Life Insurance Corporation of India re-entered the local market.The companys earlier operations were taken over by the government with nationalization of the industry in the sixties.rn rnThe company also had a lot of money left locally to service its existing customers after nationalization, […]
Donor Threat
The countrys top multilateral donors warned that economic and political stability are key to get aid following.Sri Lankas top multilateral and bilateral donors have warned that promised record aid flows could fall sharply unless the government stuck to the peace process and carried out key economic reforms.rn rnLenders to the country pledged a mammoth US$ […]
Clean Seam
The apparel industry is pushing to establish a local certificate that will guarantee buyers of compliance and cutting the cost for small timers. While big apparel exporters have a steady source of orders the small and medium scale factories are struggling to get noticed by the big buyers.rn rnThe industry umbrella organization JAAF is pushing […]
Silent Business
Top business leaders and civil society organizations were staying quiet despite political moves that have jeopardized the peace process and the economic recovery.Analysts criticized business community and other civil society organizations for standing by while political and economic uncertainty mounted in the country.rn rnCritics say businesses were trying to protect their narrow agendas as the […]
Boo Hoo
Suntel wants to buy back Rs 300 mn of its 750mn high yielding medium term debentures, which yield in excess of 22 percent per annum.The wireless operator issued Rs 1 bn worth of debentures in five, six and seven year maturities yielding 22.00 percent, 22.25 percent and 22.5 percent.rn rnNow Suntel wants to buy back […]
Textbook Takeover
A senior Treasury officialrnsaid Friday, that it would sell 49 percent or 490,000 shares to its currentrnowners, priced at Rs. 86.73 mn per piece.rn A total of Rs. 17.7 mn or 10rnpercent of this will be distributed to its 121 employees on the basis of theirrnindividual entitlement, under an earlier management agreement.rn ldblquote Following protractedrnnegotiations […]
Rich Life
An Indo-Lanka tie up will pump in Rs. 620 mn down Lake Drive in Col., 8 to build 25 fully furnished luxury homes.rnrnThe project will cater to Sri Lankas growing lquote large disposable income population on the look out for serine neighbourhoods to move into. rn rnHallmark Property Co., says each 3000-4000 square foot unit […]
Bad Call
The telecom watchdog on Friday asked Mobitel Lanka Ltd to withdraw its promotional GSM offer, with immediate effect.rnrnrnrnrnrnrnHeadlinernrnrnrnrn The cellular operator onrnTuesday, started trial runs for its GSM service, which offers free calls for allrnsubscribers who sign up during the promotional period.rn At Tuesdays launch,rnMobitel said a fully-fledged commercial launch was pending thernTelecommunications Regulatory Commissions […]
Tech Tutors
The government has tied up with the Carnegie Mellon University of US, to develop sector specific IT programmes. Initially,rnCarnegie Mellons Technology Peace Corps will work with the Science &rnTechnology Ministry to develop ICT (Information Communications and Technology)rnsolutions for the government, the agriculture and the industrial sector. rn CarnegiernMellon has developed the lquote Technology Peace Corps […]
Cyber Sale
The eSri Lanka initiative is expanding the market space for small and medium scale businesses by taking them online. The pilot project under the new ICT Agency will offer SMEs shop space in Cyber space, with each member having their own web page with a company profile, giving details of products for sale with visuals […]
No Way
The Norwegians took their foot off the LTTE and the peace process on Friday, following a week of political uncertainty. The international donor community and the investor fraternity have been closely monitoring developments on the peace front, as over US$ 4 bn in foreign aid is tied up pending an end to the political impasse.rn […]
One Down
Hatton National Bank, had its long-term national rating, down graded to SL A- by Fitch Ratings Lanka on Thursday.This decision comes after HNB was put on a ratings watch in July, to allow Fitch to do a review on the banks capital.rn rnldblquote The rating reflects the banks weaker capital position, due to a relatively […]