Category:
Extended Banking
Earlier ABN Amro has been able to constantly maintain an impressive ROE of nearly 30 percent on profit after tax around Rs.150 mn. High ROE quote s are a common feature among foreign banks that cater to a niche market in Sri Lanka. Due to high restructuring expenses following the takeover, the figure is expected […]
Union Terror
ldblquote We have been out of our offices since December 28.Despite top-level government intervention, the environment is still not conducive for us to return to work dblquote , he said. The agitation was initiated by ruling party UNP trade union endash Jathika Sevaka Sangamaya (JSS), but senior UNP quote s intervened to avoid damage to […]
Setting Standards
ldblquote Sri Lanka was chosen for the centre since a majority of the bank quote s IT developers/programmers in its Regional Centre in Dubai, are Sri Lankans, and some of these were seconded from the Sri Lankan operations, dblquote the bank said in a statement. Currently employing 18 people, the centre is expected to employ […]
Setting Standards
ldblquote Sri Lanka was chosen for the centre since a majority of the bank quote s IT developers/programmers in its Regional Centre in Dubai, are Sri Lankans, and some of these were seconded from the Sri Lankan operations, dblquote the bank said in a statement. Currently employing 18 people, the centre is expected to employ […]
Fishing in the Maldives
Janshakthi Insurance Co. kicks off its expansion plans for the New Year with a branch office in the Maldives later this month.rn rnThe company has been dealing with the Maldives for sometime, through a few insurance brokers. rnrnldblquote The branch gives Maldivians a direct contact point to us and we will initially concentrate on general […]
Time to Heal
Year-end arrivals took a 16 percent plunge to 340,000 from 400,414 in 2000 but Tourist Board Officials are forecasting a turnaround of around 450,000 arrivals this year. November arrivals were down a steep 46.6 percent compared to 2000, with an overall decline of 15 percent for the year. Asia Securities Tourist Sector Analyst Ramzi Rishard […]
Labour Check Up
The consultancy is expected to submit their proposals by March this year for eventual cabinet approval and islandwide implementation. ldblquote The E&Y consultants will get representations from the unions, private sector and government agencies in their policy development process. We are very keen on learning about future employment requirements of the private sector and develop […]
New Innings
LOLC Finance Co. Ltd has got statutory and government approval and is expected to commence business shortly, the company said in a statement today. With assets at Rs. 5.8 bn as at Dec 2000, LOLC is the largest specialised leasing company in the country. Last March, Fitch Ratings Lanka has assigned a SL F-1 rating […]
Winning the Lottery
The bank quote s Deputy Governor W A Wijewardene said that 714 of its 1,980 officers applied for the voluntary retrenchment scheme, which was aimed at those who had put in 10 years service or those who are over 40 years of age. The package included one month quote s pay for every completed year […]
Adding Layers
Volumes shipped in this period have reached the 271.9 mn kilo mark, a 3.5 percent jump on the 262 mn kilos shipped in 2000. If anything, loss of working days during the election may be the only constraint in reaching the 288 mn kilo target, brokers said.The value of exports at Rs. 56 bn has […]
Clearance Sale
Government is planning to restructure its loss making food retailer endash Cooperative Wholesale Establish endash to return it to profitability in the next two years, for an eventual public listing. CWE has accumulated Rs. 8.2 bn in losses during the past few years, arising from politically motivated pricing policies and low management efficiency. Consumer Affairs […]
Shifting Gear
Public Enterprise Reforms Commission (PERC) is expecting cabinet approval this week to expedite its privatisation program, chairman Dr. P.B. Jayasundara told LBO. “We are developing the privatisation strategies for different sectors and have been assured of top level commitment. PERC is holding extensive discussions with authorities concerned, since many proposed privatisations are not mere overnight […]