All Blogs
Trickling Down
The banking sector is planning to pass on a small percentage of their costs to customers, when the proposed 10 percent VAT comes into effect from January.rn rnUnder the budget proposal, VAT is slapped on the aggregate net profit and employee related expenses of all banks and financial institutions. The financial sector was also denied […]
Eye Catching
A grey-haired man walked away with Rs. 100,000, prize money for capturing on camera a Sri Lankan leopard endash a near studio image where the predator is taking a quiet moment.Judges unanimously agreed that from the thousands of leopard pictures taken over the years, this stood out for capturing in addition to the expression of […]
Tea Captain
Director of Gordon Frazer – Niraj de Mel, is poised to take over as CEO of the umbrella body the Tea Association of Sri Lanka.Appointed last week, he is expected to take over duties from February next year, leading the association for a two-year term, he confirmed. The Tea Association was formed as an umbrella […]
Village Assistant
Adapting digital technology to connect a small back village in Sri Lanka, a pilot project has just kicked off in Udagama to provide access to internet based information in Sinhala to some 575 families. The project will use the VillagePDA – entirely home grown, low cost Internet enabled devices developed by Media Solutions in Sri […]
Share Tussle
Hatton National Bank will sell its Sampath Bank Holdings within days after the regulators gave the green light on Friday. rn rnThe Central Bank and the Securities and Exchange Commission gave the nod for a private sale to go ahead.rn rnSampath Bank, which has obtained a restraining order against the sale of shares by HNB […]
Shady Deals
Central Bank quote s supervisors completed preliminary investigations on Pramuka Bank, as depositors awaited a final decision from the Monetary Board on the suspended bank.rn rnMeanwhile Pramuka Merchant Corporation, an affiliate financial firm, of the bank also stopped repaying its maturing bondholders.rn rnEmployees say that the bank has invested their provident funds in the bank […]
Road To eLanka
The government unveiled a road map to wire the countries population for economic and social advancement.The Information communications technology plan is trying to put everything from the land registry to filing tax returns, online.rn rnGovernment says it has donor commitment to implement the e-Sri Lanka project over a five-year period.rn rnCritics say the countries telecommunications […]
Shedding Weight
The government is to offer voluntary retirement to at least 10,000 state sector employees every year starting from 2003, as it plans to cut around 100,000 jobs in the clerical and lower grades.rn rnExecutives and higher grades will not be targeted for retirement, officials say. Officials say a detailed analysis of all government sector jobs […]
Shady Deals
Meanwhile Pramuka Merchant Corporation, an affiliate financial firm, of the bank also stopped repaying its maturing bondholders.rn rnEmployees say that the bank has invested their provident funds in the banks own securities leading to a US style loss of retirement funds. rn rnHowever, top bank officials say the primary cause of their present troubles were […]
Road To eLanka
The government unveiled a road map to wire the countries population for economic and social advancement.The Information communications technology plan is trying to put everything from the land registry to filing tax returns, online.rn rnGovernment says it has donor commitment to implement the e-Sri Lanka project over a five-year period.rn rnCritics say the countries telecommunications […]