Category:
Power Politics
The last time Iraq was attacked, over ten years ago, oil prices reached record levels of over US$ 45 a barrel.Analysts expect prices to go the same way if US and British threats actually lead to a war. The hardest hit next to Iraq will be developing countries that depend on oil imports.rn rnSri Lanka […]
The rural call
Local telephone companies have been connecting subscribers at almost record pace over the last few years. The telecom industry was the only one that put in double-digit growth rates even while the rest of the economy was in a slump. rnWith the EGO and the smart subsidies things will get even better. rnAn astounding 20 […]
Rights Of Way
Government is talking to Sri Lanka Telecom (SLT) to open up its now exclusive access to submarine cables.Dominant carrier SLT has exclusive access to existing SEA- ME- WE submarine cables. The telecommunications Regulatory Commission (TRC) has already had a few rounds of talks with SLT to iron out issues.rn rnSLT, an investor in SEA ME […]
Rupee Hunt
Commercial Bank on Friday said it is raising Rs. 4 bn to meet general business expansion and redeem its Rs.500 mn debenture, which matures this year.Three billion rupees will be raised through five-year subordinated, unsecured, redeemable debentures, which carries an option of a fixed or floating interest rate.rn rnThe floating rate issue is priced at […]
Legal Blitz
Pramuka Banks Directors on Friday filed a writ application at the Appeals Court to overturn Monetary Boards decision to liquidate the bank.The move comes as Central Bank informed Janashakthi Capital to send a list of financial details they require of Pramuka Bank.rn rnOn behalf of Pramukas shareholders, Janashakthi Capital on Monday sought Central Banks approval […]
EGO Problems
Telecom operators have ganged up to lobby against the draft External Gateway Operators (EGO) licence published for public comment earlier this week. Senior telecom officials quote representing all seven operates met Friday to device a strategy against the draft licence prior to the deadline for public comment set for January 27.rnrnOfficials say that the draft […]
Great Expectations
Dubai based Emirates Airlines on Thursday unveiled massive new expansion plans to add new aircrafts and extra routes.This year it will add a record 11 new aircraft to its fleet and increase seating capacity by 25%, allowing it to start four new routes, add more flights on many current routes and launch radically new inflight […]
Helping Hand
State run Peoples Bank plans to use its extensive pawning network as broader base to popularise micro finance activities throughout the country.With technical help from the German Technical Cooperations Rural Banking Innovations Project, the bank has todate lent over Rs. 350 mn since 1998. This makes it one of the largest public banking institutions in […]
Buying Time
Distressed depositors of Pramuka Bank on Thursday secured a stay order to stop Central Bank from liquidating the failed savings and development bank.Thursdays court ruling prevents monetary authorities from going ahead with liquidation procedures until February 21.rn rnDepositors claim that Central Bank cancelled Pramukas licence without taking the interest of depositors or creditors.rn rnThe petitioners […]
System Check
Change is in the offing to revamp a highly criticised public sector with a top-level Administrative Committee appointed by the Premier, pushing for a series of reforms.rn rnAmong the key changes being suggested is a re-look at salary structures for government workers endash the removal of upper salary limits and doing away with a uniform […]
Grama Seva
Regional telecom firms could come into play under a state proposal to propagate communication facilities in rural villages. The regional licences will give firms a mandate to set up telecom networks in villages and access to monies from the lquote Viswa Grama programme, a state authored proposal to create communication facilities in areas with little […]
Members Only
New subjects are making their way into CIMA Sri Lankas curriculum, including fashion tips, social dancing and opportunities for networking. All the new subjects will however be limited to members signing up with the CIMA Business Club launched Tuesday.rn rnThe Club and its website (www.cimabusinessclub.com) is expected to provide passed finalists an opportunity to interact […]