Category:
Cutting Cables
The telecom regulator on Monday lent an ear to the industries woes with Sri Lanka Telecoms (SLT) international bandwidth operations. The hearing follows the industries cries over SLTs tariffs for international bandwidth and the access restriction to its cable landing operations.rn rnThe Telecommunications Regulatory Commission (TRC) is now leading an investigation into the allegations. rn […]
Safe Hands
Commercial Bank of Ceylon has floated a share ownership trust called Jaycey Trust Services to acquire and hold shares on behalf of its employees.In a statement to the Colombo Stock Exchange, the bank said SEC rubber stamped the deal last week to buyback 5 percent of its shares held by Sri Lanka Insurance Corp at […]
Independent Opinion
Commercial Bank plans to tap the market for Rs. 4 bn with the backing of an issue rating from Fitch.The bank already has an AA+ rating for its senior debt.rn rnCommercial Bank says the issue rating which could be a notch lower than its senior debt rating will be made public.rn rnldblquote Whatever the rating, […]
Citibank First
Citibank became the only foreign bank to get a credit rating on the local scale when they made public their AAA rating. The bank says the rating obtained for franchise reasons will also be useful if the government makes it mandatory for commercial banks to make public their credit ratings.rn rnldblquote It is still not […]
Profits Mirage
Peoples Bank reported a billion rupee in profits last year, the largest in its history.The bank has managed to now cut in half its negative net worth over the last two years.rn rnBut top management in an exclusive interview warned that profit numbers were not entirely due to an improvement in the banks performance.rn rnldblquote […]
Marketing Brands
Marketing professionals are rethinking brand strategies, as the country gets ready for a phase of growth and consolidation. Long thought out survival strategies are fast being replaced by aggressive growth plans. The changing fortunes on the economic front are posing a new set of challenges for brands faced with growing consumer demand and sophistication.rn rnThe […]
Sampath-DMS Tie Up
Improving levels of income and access to technology is expected to push up demand for e-commerce payment gateways services.Sampath Bank, which is banking on the demand for payment gateway services, signed an agreement with DMS for a state of the art system recently.rn rnldblquote Sri Lanka has about 3, 00,000 credit cards. Singapore has a […]
Next Leap
Cellular operator Mobitel plans to triple its customer base with the launch of digital services from next month.The Mobile operator has already got the nod from its parent SLT to rise up to US$ 50 mn in the capital market for the expansion.rn rnThe roll out is to be backed by a corporate guarantee by […]
Yo-Yo Reforms
The Asian Development Bank warned on Saturday that the governments rocky relationship with the powerful executive presidency is stalling economic reforms.“The absence of a bipartisan process makes it more difficult for us to be comfortable as to whether key reforms will take place,” ADBs Country Director, John Cooney told a media briefing.rn rnThe countrys present […]
On The Edge
Peoples Bank is waiting for a fresh lquote letter of comfort from the Treasury to sign off its 2002 financial statements.The Treasury last issued the letter on April 3 2002, but subsequently withdrew it, with the hope of finding fresh investors for Peoples Bank.rn rnThe bank has halved its Rs. 6 bn negative networth, after […]
Cash Connect
New interconnection rules came into effect on Friday, setting the ground work for external gateway operators to negotiate network access. rnrnrnrnrnrnrnNew Page 1rn rnrnrnrnrn The Telecommunication Regulatory Commission (TRC) on Monday rnissued the first batch of 21 External Gateway Operator (EGO) licences. rn rn EGOs are required to negotiate interconnection rates, rnpermission to terminate
Twisted Pair
Sri Lanka Telecoms (SLT) Japanese stakeholder NTT Communication says the government has violated is shareholders agreement by allowing new players into the international voice market.In a letter to the Mass Communications Ministrys Secretary on Friday, NTT says its fresh agreement with the government signed in November 2002 gave assurances that ldblquote no licences shall be […]