Category:
Calling Home
Lanka Bell on Thursday signed up with Net2Phone Global Services of US, to offer international calls at bargain rates to key destinations.Net2Phone routes calls over the Internet, unlike conventional traffic, which goes through undersea cables.rn rnAlso referred to as Voice Over Internet Protocol or VOIP, the system offers international voice traffic at virtually a fraction […]
Falling, Falling
The Central Bank cut its key short-term rates on Thursday, signalling that the economy was getting stronger.rnrnThe bank lowered its overnight repurchase rate (repo rate) by 50 basis points to 7.0 percent.rn rnThe reverse repurchase rate (reverse repo) was cut by 100 basis points to 8.50 percent, the bank said in a statement following its […]
Little Teaser
Singapores Changi Airport has shown interest in actively participate in developing and managing Sri Lankas airports.The Board of Investments said in a statement that Changi Airport Chairman Boon Swan Foo had expressed his sentiments during a meeting with BOI Chairman Arjunna Mahendra on Wednesday.rn rnFoo had shown interest in Sri Lankas airport expansion programme and […]
Second Tier
Coping with expansion needs, software engineering service provider, Virtusa is extending its Colombo base into the World Trade Centre. CEO Cris Canekeratne says, the WTCs size would allow Virtusa to scale up its operations in Colombo, along with access to ready to use infrastructure, including internet bandwidth.rn rnMonies to expand into the WTC will be […]
Debt Call
Pan Asia Bank is coming out with an unlisted Rs. 400 mn debenture, to raise funds to boost its capital.The five-year issue is priced at floating rate of three percent above the six-months treasury bill rate. Six-month treasury notes are currently trading at 7.17 percent in the secondary market.rn rnThe bank said Tuesday that the […]
Hambantota Crossroads
Canadian consultants studying the Hambantota Port project have come up with a US$ 1,700 mn three-phased development plan as being feasible.Southern Development Minister Ananda Kularatne said the cost also includes US$ 240 mn for a breakwater and dredging. rn rnMinister Kularatne says government steering committee is now examining the report prepared by the Canadian firm […]
Air Support
Private operators who want to build an Airport in Southern Sri Lanka are asking the government to arrange loan facilities to part fund it, Southern Development Minister Ananda Kularatne said.The Airport & Aviation Services Ltd (AASL), a state owned firm that owns and operates Katunayake International Airport has just concluded a feasibility study, which has […]
Adding Wings
The Civil Aviation Authority says it is processing applications to allow local firms to operate a few international schedule flights from Sri Lanka.The international operations will materialise through charter flights to neighbouring countries, the aviation watchdog said in a statement on Tuesday.rn rnThe watchdog says move is part of the government decision to shift towards […]
Angry Tones
Local telco operators have teamed up, to oppose a possible merger between Sri Lanka Telecom and Lanka Bell.In a hard-hitting letter, operators endash Celltel, Dialog, Suntel, Hutchison and GoTel Networks endash have protested of an impending monopoly situation, if the merger goes through.rn rnThe four protesting operators command a subscriber base of over 1.2 mn […]
Re-Dialing
Telecom policymakers are re-considering the option to set up national points of interconnection, to fix the current impasse in reaching call termination agreement.rnrnSetting up national points of interconnections will allow in-discriminatory access to all operators, including External Gateway Operators (EGO) to terminate calls locally.rn rnThe third option is being brought back, as efforts to urge […]
Faster Connection
LankaClear, the cheque clearing arm of the Central Bank, plans to set up ten regional centres to speed up payments and settlement systems.Known as lquote cheque image clearing and truncation, the system clears cheques faster by electronically capturing a cheques image and cuts lead times from ten to two days.rn rnThe main features of image […]
Cherry Picking
A Compensation Fund for contributors who suffer financial loss resulting from fraud, theft, misappropriation or negligence of monies, will also be set up, from a cess being charged on the industry.rn rnEmployees will also have the option of switching funds, to ensure they get the best return for their retirement nest egg, according to a […]