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Central Changes
In line with the best international practice Central Bank will focus on the core objectives of economic and price stability and ensuring the stability of the financial system, dropping a number of subsidiary objectives that tended to distract the Bank in the past.rn rnIn the conduct of monetary policy itself the Central Bank has given […]
Delayed Sale
The government has put off Sri Lanka Insurance Corp.quote s privatization for the fourth time till early next year.rn rnThe Public Enterprise Reform Commission on Wednesday wrote to the three shortlisted bidders giving them more time to submit fresh technical and financial bids till January 21, 2003.rn rnThe competitive sales process for the 90 percent […]
Sale On Line
Targeted at both local and expatriate Sri Lankans, the online shop will host a range of merchandise including seasonal favourites like greeting cards, decorations, Christmas hampers, food and music. rn rnHSBCs secure payment gateway has been signed to handle the online transactions and delivered through Federal Express. rn rnDelivery to anywhere within Colombo will be […]
Cross Country
policy on international voice gateway licensing issued last week will set the stage for more operators to enter the fray.rn rnThe consultant draft on international voice gateway licensing was released last week, the Telecommunications Regulatory Commission (TRC) now calling for public opinion for the policy. rn rnNew licences will be technology neutral and will not […]
Heads Roll
Pramuka Bank Employees Union called for the banks top management to step down immediately while also forming a stakeholders association to safeguard their interest.Union President Sunimal Dabrera told members on Monday that the Monetary Board and the Central Bank should exercise its powers under the Banking Act to remove Pramuka Savings & Development Banks senior […]
Air Control
The consultant sought to redraw Sri Lankas policies on frequency spectrum was appointed last week, appointed to study allocation, pricing policies and utilisation. The consultants report will give strength to the proposed Communications Regulatory Commission (CRC), a reincarnation of the existing Telecommunications Regulatory Commission to reflect the scope of the National Communication Policy.rn rnThe process […]
Inside Intel’85
Intel that officially launched its latest Pentium 4 chip in Sri Lanka says, a new innovation in the chip will increase PC performance.The chip uses software, which Intel calls Hyper Threading.rn rnHyper threading allows the chip to run 2 programs at the same time, by making the 3.06-giga hertz chip behave like two separate processors.rn
Within Budget
A new law aims to hold ministers responsible for meeting performance targets while keeping spending under control.rn rnThe proposed Economic Management Law will require ministers to submit annual and quarterly accounts on time. Violators of the law will have their funding cut in the latest government effort to curtail spending and hold legislators responsible for […]
Another Go
HSBC became the only foreign bank to have its own primary dealer operation when the bank invested Rs.150 mn to start one.rn rnBank officials say starting a primary dealer was logical as the bank otherwise had to go through other dealers to access the primary market.rn rnHSBC also says the license will help them offer […]
At Pramuka
In another development Pramuka founder Rohan Perera stepped down as chairman during the week and Udaya Nanayakkara took over as Chairman on Wednesday.rn rnThe Criminal Investigation Department visited the bank on Thursday.rn rnThe Central Bank, which suspended Pramuka bank operations, has so far not indicated what it wants to do.rn rnBut analysts say depositors may […]