All Blogs
US$ 300 mn Hole
Surveys have indicated that unofficial operators are offering attractive rates and better service to expatriate workers. rnThe foreign exchange is kept out of the banking system and the national economy. rnMinister Samarasinghe was speaking at the launch of a new award scheme for foreign employment agencies launched by the Bureau of Foreign employment.rn
Long Term
Hatton National Bank (HNB) will issue Sri Lanka quote s first ten-year private sector debt instrument as part of its Rs. 2bn unsecured debenture.
Internal Audit
A committee drawn up by the SEC will study wide range of matters including the separation of audit function from consultancy, the rotation and change of auditors and the composition, scope and powers of auditing committees. Representations should be forwarded by August 15, SEC says. rnThe local accounting fraternity has also launched a programme after […]
Last Mile
A meeting today had assessed proposals forwarded by the three short listed consultants.rn rnOfficials say they would seek further clarification on certain proposed measures included in the proposals on Monday before they meet again next week. rn rnThe second and probably the final meeting on the issue is scheduled for mid next week.rn rnSLT officials […]
Fine Line
Sri Lanka Insurance Corp. quote s (SLIC) controlling stake in Commercial Bank may come up for grabs when the insurance giant is sold off this year.rn rnSLIC currently owns 29.91 percent in Commercial Bank, which is worth around Rs. 659 mn as at Dec. 31, 2001. The DFCC Bank is the next highest shareholder of […]
Looking Offshore
Insurance industry has been lobbying for this facility for many years, due to the dearth of long-term investible products and fluctuating local interest rates. rnrnldblquote Until the capital account is fully liberalised, we can only help out individual companies, provided they lobby their case effectively, dblquote Exchange Controller, H A G Hettiarachchi told participants at […]
Broad Bell
CEO, Joey Mendoza says the edge would be its pricing and exceptional speed.A combined levy where the internet tariff and the phone tariff are coupled could also be introduced he says. rn rnThe service will initially be limited to Lanka Bell customers before being opened up as a standalone service. rn rnMeanwhile, the company today […]
Copycat Law
Officials say the draft act that will protect ownership rights was completed early last year and is now pending parliamentary approval.rn rnAn attempt was made last year to ratify the draft act through parliament, but failed due to the political changes halting parliamentary proceedings. rn rnThe act will put in place a regulatory body with […]
SriLankan Holidays
The airline offers a wide variety of holiday packages.SriLankan Holidays and Stopovers offers customers holiday packages of one to four days or more, in Sri Lanka. A stopover holiday package includes transfers from airport to hotel and vice versa and hotel accommodation with breakfast. Customers may opt for accommodation only or accommodation plus tour from […]
Insurance Agent
Sri Lanka Insurance Corp. quote s privatisation kicked off today with the government calling for expressions of interest from local and overseas investors.rn rnPotential investors would get the management control and ownership of a stakes up to 90 percent of SLIC, with a possible option to buy the employees 10 percent shares. rnThe closing date […]