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Try Again Later
The international call access code auction has run aground with regulators now eying a late June date for the event. Industry officials say despite a working model being in place, a number of other issues need to be resolved before the auction.rn rnThe list of chores include registering a web address, the terms and conditions […]
Forging Ties
Janashakthi Insurance has sought regulatory approval to complete its merger with National Insurance Corp.Once the Insurance Board of Sri Lanka approves the merger, Janashakthi will need to go before the Colombo District Court to officially seal the name change.rn rnldblquote NIC will be known as Janashakthi Insurance and we hope to wrap up the paper […]
Helicopter Ride
Lankas top accounting body is giving its membership tips on how to add value to its products and services at its annual forum next week.The Chartered Institute of Management Sri Lanka Division will focus on ldblquote Repositioning Sri Lanka Globally dblquote at its annual conference from May 29-30.rn rnldblquote We selected four topics on how […]
Building Schools
Promoting home ownership and job creation, the National Housing Development Authority (NHDA) is rolling out a campaign to disseminate construction skills to individuals.Initially to be tested on a plantation housing project, the campaign will then help construct 300,000 estate homes under the Plantation Housing Programme before being rolled out islandwide.rn rnThe ldblquote Homes For All […]
Question Mark
The Carsons and JKH Groups recent acquisition of Aitken Spence shares in Union Assurance Ltd has got the securities watchdogs attention.The Securities & Exchange Commission says it is looking into the issue as to whether both parties acted in concert and triggered the Takeovers & Mergers code.rn rnPresently, Carsons owns 36.91 percent and JKH owns […]
Changing Gears
The brands owner Watawala Plantations Ltd., the biggest exporter of Ceylon Tea to Malaysia, has held detailed discussions with Sri Lankas High Commissioner designate to that country and former Mrs. World Rosy Senanayake on this initiative. Plans announced this week by Watawala include the setting up of Zesta shops modeled on the prototype at Colombos […]
Coin Jam
Money clogged up due to coin jams in Tritel payphones will go to charity in the provinces they come from, the Maharagama Cancer Hospital the first to benefit. Tritel officials say, since it was impossible to return the money to the people who lost it to the payphone, they have decided to donate it to […]
Rural Rumble
A team of consultants has recommended tough reforms, a more focused regulatory regime and the winding up of co-operative banks with a negative net worth to clean up the rural financial institutions.The report jointly commissioned for the Central Bank and the Asian Development Bank also recommends a stronger regulatory role for the rural financial sector.rn […]
Acting Against Pirates
A new Act to strengthen Property Rights covering all areas in Intellectual Property from patent rights to trade marks is coming into force this month. Hundreds of retail outlets selling pirated computer software and music could disappear overnight if the full force of the law is used.rn rnToday from adventures in cyberspace at the click […]
Making Of A King
Consumer protection has been a concern of every administration but analysts say that Sri Lankan consumers are far from being kings. A new Act is trying to put the consumer on top, suing professionals and traders in the process.But analysts warn that over-regulation may put off the private sector and worse still, potential foreign investors.rn […]
Clean Break
Conglomerate Aitken Spence Ltd on Tuesday disposed its equity stake in Union Assurance Ltd.The sale comes after Aitken Spence bought into Sri Lanka Insurance Corp. recently, through a consortium led by the Distilleries Company.rn rnUALs existing shareholders, the Carsons Group and John Keells Holdings Group picked up Aitken Spences parcel.rn rnAccordingly JKH raises its stake […]
Buying Online
External Gateway Operators (EGO) registered by Tuesday (May13) will qualify to bid at the first online short code auction scheduled for May 21 or 22.E-W Information Systems, contracted to design and conduct the auction over the internet say EGOs who register with the telecom regulator will choose upto five short codes two hours before the […]