Category:
High Availability
Computers have changed the way business is done over the last decade. Companies with networked computer systems are putting more information at the fingertips of employees.rn rnExperts say that when these systems fail the cost begin to rise. rn rnTo have a running system has become as important as having a networked computer system in […]
SLT Goes Public
Sri Lanka Telecom is going public at a time when telecom shares are taking a beating in global markets. SLT Chairman Thilanga Sumathipala says that the SLT is look at a parcel between 12-20%%rn rnldblquote Before December 31 we will be going for the local IPO, dblquote he says.rn rnBut SLTs core profits are now […]
Lanka Inc.
Government is planning to set up an independent holding company to own and manage state enterprises.rn rnThe company set up on the lines of Temasek Holdings of Singapore will enable state enterprises to be run independent of the government while the Sate retains ownership.rn rnAn independent audit authority answerable to parliament is also on the […]
Sealed Doors — Update
The Central Bank on Friday evening suspended the operations of Pramuka Savings and Development Bank Ltd with immediate effect.rn rnldblquote The suspension will be effective for a maximum period of 60 days during which the Bank Supervision Dept. of the Central Bank will conduct a detailed examinations of Pramuka to ascertain the true condition of […]
Mischief Makers
Setting standards to corporate disclosures, the accounting watchdog Friday named listed companies for violating Sri Lanka accounting standards for the past two-years.rn rnThe Sri Lanka Accounting and Auditing Standards Monitoring Board or SLAAMB also pulled up auditors for not qualifying their reports in respect of the violations.rn rnAsian Hotels Corp., Trans Asia Hotels, Alliance Finance, […]
Medical Aid
In the spirit of competition, a subsidiary under the State Trading Corporation will commence parallel imports of popular medication – an attempt by the Commerce and Consumer Affairs Ministry to lower the cost of drugs.The STC Medical Ltd., already incorporated, will commence operations later this year, STC senior officials say.rn rnMinistry officials hope the exercise […]
Holding Co.
Infusing fresh discipline into the bloated state machinery, a proposal to set up a Singapore style investment holding company and National Audit Authority has got the government quote s attention. rn rnThe Dutch government has sent a team of experts to look at the possibility of starting an independent National Audit Authority.rn rnThe new authority […]
Setting Standards
Sri Lanka will join the fleet of countries that have adopted the World Trade Organisations agreement to standardise customs valuation procedures. Customs officials hope to implement the terms of the agreement from November, introducing a regime of fair, uniform and neutral valuation system, conforming to commercial realities and eliminating the use of arbitrary or fictitious […]
TXT Cash
Cellular operator, Celltel Lanka has introduced a secure mobile wallet, which enables its customers to make payments through text messages.The first of the kind in the region, the lquote CellWallet provides encrypted electronic storage for information pertaining to a users credit cards, debit cards, bank accounts and other personal data.rn rnThe product is jointly developed […]
No IDD Calls
The government has decided to limit Sri Lanka Telecoms public offering to the local market, amidst speculations of an impending snap poll.Plans to issue Luxembourg traded global depository receipts as part of its public offering to foreign investors has been put off to next year, SLT Chairman, Thilanga Sumathipala told Lanka Business Online in an […]
Plastic Money
Central Bank quote s Superintendent Currency, Chitra Ariyaratne confirmed that the Rs.200.00 was being systematically removed from circulation due to its failure to stick to people quote s pockets.rn rnThe Central Bank printed 20 million notes in 1998 to celebrate 50 years of independence endash introducing Sri Lanka to its first Rs. 200 denomination and […]
Bell broadband caf’e9
In a bid to get a competitive edge Lanka Bell has tied up with Harris Corporation of USA to bring in a High-end wireless broadband network. Forty data links have already been installed.rn rnLanka Bell plans on providing this technology to residential customers as well.rn rnBellnet is expanding with a Cyber Caf’e9, which will open […]