Category:
Edu.Online
An ADB sponsored project will roll out a series of distance education tele-centers countrywide, so students left out of the state system can get those degrees online.rnrn The Asian Development Bank (ADB) today, approved a US$ 45 mn loan for a lquote Distance Education Modernization Project, to increase access to distance and on-line learning.rn rnThe […]
Act Two
Work on drafting a fresh piece of legislation to replace the present Companies Act is due to get off the ground next week.The committee, which includes legal luminaries, like Aritta Wikremanayake, Dr. Harsha Cabraal, representatives from trade chambers, accounting bodies and the Bar Association, have been set a three months deadline to draw up a […]
Close Scrutiny
The Public Enterprise Reform Commission (PERC) plans to become a monitoring agency to look after the governments residual stakes in public corporations.The Treasury is putting together a list of companies the government has shares, which also includes financial institutions, PERC Chairman, Chrisantha Perera said.rn rnldblquote Some of these residual holdings are in restructured corporations or […]
Unchained Melody
The Central Bank left its key short-term discount rates unchanged on Friday after its monthly monetary policy meeting.The overnight repurchase rate or repo rate was kept at 8.25 percent, while the reverse repurchase rate or reverse repo was left at 10.25 percent.rn rnCommenting on its review of the economy, the bank said the recent floods […]
Pirates Ahoy
Exporters are calling the inclusion of a significant part of lquote on the ship expenses to the terminal handling charge (THC), technically a recovery of land based cost, as unfair and anticompetitive.A breakdown of the THC shows that upto US$ 81 of the US$ 148 levy for a 20 foot container was for discharging and […]
Reforms Ahead
The World Bank, Tuesday, approved a US$ 40.3 mn credit line to re-structure Sri Lankas tertiary education sector.rn The no-interest credit line from the International Development Association (IDA) will be spread over 40 years with a ten-year grace period. rn rnThe government will fund the balance project cost of US$ 10.7 mn.rn rnThe project to […]
Switching Station
Telia AB of Sweden is replacing its representative and the Managing Director in its Sri Lankan venture Suntel Limited from July 1.After four years at the top, Hugo Cederschiold will hand over the reigns of Sri Lankas second largest fixed telephone service provider to Mrs. Lillemor Larsson, from the parent company and a Director on […]
Co-producer
Far from the buzz and the luxuries of a metropolitan city lie the backwater villages of the Uva and Southern Provinces, home to some of the most impoverished people in Sri Lanka. A revolution is sweeping through endash doctored by the Ministry of Rural Economy and funded by a US$ 40 million World Bank soft […]
The Matrix
Sri Lanka has a 45 percent chance of achieving peace within a volatile political situation, which will push the Colombo bourse up by 25 percent to 30 percent.HNB Stockbrokers in their country strategy report ldblquote The Lion Emerges dblquote has come up with a risk matrix and the road map the Colombo market will take.rn […]
Hello Neighbour
Indian telco giant Videsh Sanchar Nigam Limited (VSNL) is seeking the telecom regulators approval to set up a US$ 40 mn venture in Sri Lanka.Initially offering international calls, VSNL Lanka Limited will expand its offering to include other data and voice services later.rn rnThe Board of Investment has forwarded VSNLs proposal to the Telecommunications Regulatory […]
Yawning Gap
The trade deficit widened during the first four months of this year as the import bill galloped ahead of total exports, the Central Bank said Tuesday.The bank said the deficit from January to April rose to US$ 566 mn, from US$ 503 mn during the same quarter last year.rn rnDespite a yawning deficit, the Central […]
Green Rain
International donors wrapped up the two-day Tokyo parley pledging over US$ 4.5 bn in aid over the next four years to rebuild Sri Lanka.The amount includes US$ 1 bn each from Japan and the Asian Development Bank and US$ 293 mn from the European Union (EU).rn rnThe US$ 4.5 bn package spread through to 2006, […]