Category:
Picking Up Lost Time
Spearheaded by the Labour Ministry, the initiative will be in the form of a five-year rolling plan, a draft policy of which has already been drawn up. rnrnSponsored by the United States Agency for International Development (USAID), the policy will be managed and implemented by the Labour Ministry. rnrnAt a productivity growth rate of three […]
Tall Order
The accord sets out specific time bound targets including detailed mechanism to monitor progress and also represents ADB quote s long-term commitment to Sri Lanka quote s future economic development, ADB President, Tadao Chino told a news conference. rnrnFinance Minister K N Choksy said the bank quote s assistance would go a long way to […]
Poor Show
The bank is also planning to raise Rs.1 bn to its Tier II capital ratio through a debt instrument or preference shares, to improve its total capital ratio to 11 percent from current 9.53 percent. rnldblquote We have been through hard times, but never like this before dblquote , HNB quote s Managing Director Rienzie […]
Breaking Boundaries
Suntel wOw has signed up with Dialog, Celltel and Mobitel enabling its portal users to send SMS to these networks. rnrnHowever, Celltel and Mobitel users have the added advantage of replying back to the wOw SMS. rnrnldblquote This is a major break through facilitating interactivity between two different means of communication endash the Internet and […]
Poor Outlook
ldblquote 2001 was one of the worst years in terms of economic performance.Poor monetary and fiscal management was compounded by a series of external and internal shocks, dblquote he said addressing a Norwegian Aid delegation on Sri Lanka quote s economic revival plan. rnrnHefty military spending, a stalled privatization programme and mounting losses at key […]
Building Bridges
Finance Minister K N Choksy told a Norwegian Aid delegation headed by Olav Kjorven, Deputy Minister of Development Cooperation that a systematic framework was necessary after the government signed an indefinite truce agreement with the LTTE recently. rnHe said the Relief, Rehabilitation and Reconciliation framework, also known as the lquote Triple R document quote will […]
Hear Us
The system of policy and law enactment has come under fire, for its lack of transparency and closed-door attitude to open discussion and consultation. rnrnIn a statement issued by the trade chamber, ldblquote If the private sector is to be considered the engine of growth, then it is imperative that the business community be informed […]
Future Proof
Speaking to LBO, Intel quote s GM endash Channels South Asia, Amar Babu said though Sri Lanka was behind Bangladesh in terms of sales, it was the fastest growing market in the region. rn rnldblquote With the recent political changeover in Sri Lanka, we expect demand to grow significantly. dblquote rnrnIntel is also pursuing a […]
Money To Fish
A Norwegian team of consultants are due this week to negotiate funding for coastal economy development, Finance Minister, K N Choksy told Lanka Business Online. rnrnldblquote The project will not be limited only to North and East. The Norwegian team will evaluate the entire coastal belt of Sri Lanka for potential development projects dblquote , […]
Small Openings
On the cards are a higher ownership limits on foreign stakes in financial services including banks and insurance companies. rnPresently, foreign ownership is limited to 49 percent in Finance services, 90 percent in insurance companies and 60 percent in banks. rnCentral Bank Governor A S Jayawardene said they were discussing various possibilities, lquote but the […]
Helping Hand
The Manila based bank, which funded economic development and poverty alleviation projects worth US$ 2.7 bn during its 34 years stint in Sri Lanka, has already launched a North East Community Restoration and Development Project. rnrnNew projects for community development and water supply in the East are also in the pipeline, said ADB President Tadao […]
Colombo Goes Online
Colombo is the latest station on the Emirates network to receive the on-line booking facility, which also allows travellers to check seat availability on all Emirates flights and obtain fare quotations. rnrnOn-line bookings have to be completed three working days prior to flight departure and tickets for on-line bookings will be delivered by Emirates to […]