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Merging Skills
Treasury officials are looking at merging the present Skills Development Fund Ltd with the upcoming Human Resource Endowment Fund that is to be set up next year.The Skills Development was set up over two years ago, as a pilot project to provide human resource training for employers.rn rnIncorporated as a public limited liability company in […]
Letting Lose
Peoples Leasing Company is scouting for a strategic partner as its parent company is keen to reduce its holding in the company.Formed as a fully owned subsidiary of Peoples Bank in 1995, PLC was initially intended to help the banks customers.rn rnIn 2001, Peoples Bank infused a further Rs. 40 mn into the company to […]
Close Watch
The governments 20 percent stake in Commercial Bank held through Sri Lanka Insurance Corp. has caught the interest of the International Finance CorpA fact-finding team from the IFCs Washington office were in Colombo recently to carry out due diligence work. Their findings are expected to be presented to the IFC Board sometime next month, Treasury […]
Colour Guide
In what could lead the way to a common directory for subscribers from all networks, Sri Lanka Telecom today launched its in-house compiled provincial directory – The Rainbow Pages. rnrnProposals in the recent draft interconnection framework calls for a common phone index, initiated by SLT. rn rnAlso proposed is a common online directory database available […]
New Debt Office
The Central Bank, which has been managing the countrys debt issues for years, will hand over the function to a new agency next year. The new government public debt management office is to combine local and foreign debt raising and government cash flow management.rn rnAt present external debt is raised by a division in the […]
State Challenge
The government is fast putting together a regulatory framework to facilitate competition.At the same time the private sector together with trade chambers have also been asking for opening up of sectors, which have been government monopolies before.rn rnHowever competition has been slow to arrive in some industries which have been thrown wide open. rn rnCommerce […]
Plot Thickens
Pramuka Banks crisis deepened this week with courts issuing orders on the senior management not to leave the country.But Pramuka Chief Rohan Perera has already left the country.rn rnMeanwhile employee shareholders who formed a Stakeholders Association would be meeting again this week. rn rnThe bribery commission began its investigations into the alleged kickbacks to public […]
B2E: Only A Click Away
With the introduction of the Internet many companies automate their business systems and business ideas online. Transformation is taking place globally because; from the start it can provide its customers with the best mix of technology support and business insight. A good example would the booking method for doctors.rn rnNormally patients have to hang around […]
Outsourcing R&D
Following in the footsteps of international corporate giants, local companies have begun using venture capital for outsourcing research and development.A top venture capitalist says at least one Sri Lankan conglomerate has started funding start-ups in the hope that they will develop a useful product that can be commercially exploited later.rn rnLarge conglomerates have a higher […]
Adding Muscle
The Central Bank tightened its hold over licensed specialized banks after the latest amendment to the Monetary Law Act was passed in Parliament.One clause gives the Central Bank power to appoint a liquidator and oversee the liquidation of a licensed specialized bank.rn rnNow Central Bank has virtually the same control over licensed specialized banks as […]