Category:
Viral Attack
Coming in at Rs. 5000.00 for a Norton AntiVirus software suit, Symantec Corporation prepares to encourage the use of original software in Sri Lanka.rnrnRecognised as the world leader in internet security solutions, Symantec officially entered the Sri Lankan market through a Ceylinco Group subsidiary endash CNT International. rn rnSri Lanka is identified as the second […]
Cable Co
Capping off its work to liberalise access to international bandwidth, the Telecommunication Regulatory Commission (TRC) is trying to moot a cost and pricing methodology for its use.The TRC called on a consultant to draw up a cost methodology, a cost template and recommend tariffs for the disbursement and use of international leased circuits.rn rnThe TRC […]
A Time To Pay
HSBC, trustees to the Vaniks capital guaranteed debentures says investors will be repaid on April 29.Capital guarantors to the debenture USAID and Peoples Bank met their obligation of Rs.200 million by April 25.rn rnHSBC says Rs. 2.3mn in interest received for the money under its custody upto April 28 will also be distributed among the […]
Impending Marriage
DFCC Bank said Monday it is talks with key institutions to acquire a commercial bank and an insurance company.A due diligence study on MERC Bank has got under way and DFCC is keen to acquire the small privately held commercial bank, subject to regulatory and other approvals.rn rnMERC Bank also has a foreign exchange licence. […]
Secret Codes
The telecom regulator on Monday set a base price of Rs. 500,000 for each four digit short codes that is due to be auctioned by mid this year.The short codes will be auctioned to External Gateway Operators (EGO) through a secure purpose designed online interface.rn rnThe Telecommunications Regulatory Commission (TRC) on Monday called on interested […]
Border Crossing
Sri Lankas trade deficit widened to Rs. 271 million by February, fuelled by higher imports of consumer and intermediary goods.The Central Bank on Monday said the total import bill for 2003 had reached Rs.1.03 billion, an 18 per cent increase over 2002, while exports peaked at Rs. 767 million up from Rs. 714 million in […]
Quick Flow
The Asian Development Bank plans to raise its annual contributions to Sri Lanka to about US$ 250 mn and is also keen the government steps up its aid disbursement ratio.The regional development banks assistance to Sri Lanka averages at around US0 mn a year.But in 2002, the banks lending programmed topped US$ 240 mn, with […]
Lopsided
Ambitious plans for double-digit GDP growth is at the back of the governments mind in a post-war era. More importantly, economic growth must benefit the man on the street. While experts say that GDP growth in the open market era has widened the rich and poor divide, economists point out that while the rich-poor gap […]
Silver Bells
Wiping over US$ 30 million in debt clean off its accounts, Lanka Bell is now monitoring the communication lines, looking for a technical partnership that will take its services to the masses. Lanka Bell Managing Director, Joey Mendoza says the debt elimination programme, which saw its total debt wiped off its accounts earlier this week, […]
Cleaning House
The exercise to divest governments ownership in Peoples Bank is due to kick off in Sept and end in March next year. As part of its commitments to get the IMFs US$ 567 mn concessionary aid package, the government has pledged to commercialise the bank as a single entity or separated into viable sub-units through […]
Asset Sale
The government hopes to sell off a further 8.5 percent of its shares held in Sri Lanka Telecom this year, as part of its privatisation programme.Last November, the government disposed a 12.5 percent slice of SLT through an initial public offering.rn rnOther state entities earmarked for disposal include CPCs assets and market network, a 69 […]
New Brooms
National Development Bank on Tuesday sold off 53 percent of its 66 percent stake in Mercantile Leasing Ltd to a consortium for Rs. 239 mn.Savings giant, National Savings Bank bought 19.5 percent while a consortium led by M M Udeshi picked up the balance 29 percent stake.NDB will still control a 10 percent slice.rn rnThe […]