Author: lbostgadmin
To Let
Putting its restricting plans into action the Urban Development Authority (UDA) will let out two of its prime properties in Colombo on long lease to private developers.rn rnInvitations were called over the weekend to put up buildings that combine residential and commercial facilities in Chattam Street in Colombo 1 and on Galle Road, Colombo 3.rn […]
Stress On The Balance Sheet
Audry was forced to leave her job as a Management secretary due to work related stress. Her employer, a leading department store in Britain did not recognize that work related stress could affect employees.rn rnAudry suffered spells of depression and her job performance slumped.rn rnldblquote I got more and more backwards. My family life suffered. […]
Express Exit
The banking service was purchased outright by NTB while the foreign exchange operations will be done on an AmEx franchise.rn rnTravel services will be delivered through a newly formed joint venture with Mackinnons travels a John Keels Holdings company.rn rnNTB says the cost of acquisition of the 3 main lines of AmEx business was minimized […]
Lanka Inc.
Government is planning to set up an independent holding company to own and manage state enterprises.rn rnThe company set up on the lines of Temasek Holdings of Singapore will enable state enterprises to be run independent of the government while the Sate retains ownership.rn rnAn independent audit authority answerable to parliament is also on the […]
SLT Goes Public
Sri Lanka Telecom is going public at a time when telecom shares are taking a beating in global markets. SLT Chairman Thilanga Sumathipala says that the SLT is look at a parcel between 12-20%%rn rnldblquote Before December 31 we will be going for the local IPO, dblquote he says.rn rnBut SLTs core profits are now […]
High Availability
Computers have changed the way business is done over the last decade. Companies with networked computer systems are putting more information at the fingertips of employees.rn rnExperts say that when these systems fail the cost begin to rise. rn rnTo have a running system has become as important as having a networked computer system in […]
New CAD
Visual Computing systems launched state-of-the art software to enable local companies to tap the growing market for Computer Aided Design. The company says the software by PTC a leader in CAD products enables detailed designs to be done faster and with more precision.rn rnVisual computing also plans to set up a training program for CAD […]
Naughty Naughty
Sri Lanka quote s accounting watchdog has asked several listed companies to correct their accounts released during the last two years.rn rnAmong the companies rapped by the Sri Lanka Accounting Standards Monitoring Board in 2001 are Asian Hotels Corporation, Trans Asia Hotels, rn rnwhich is in the same group, Alliance Finance, Central Finance, Blue Diamonds […]
Closed Doors
The bank supervision department of the Central Bank said Parmuka will not do business during this period and the public should await a further communication from the Central Bank.rn rnCentral Bank said it was making the order in terms of the Banking Act.rn rnThe Bank Supervision Department of the Central Bank would conduct a detailed […]
Unified In Confusion
A committee appointed by the Finance Ministry to merge revenue agencies, was trying to determine if the proposed revenue authority should be run by public servants or by experts hired from the private sector.rn rnThe government in its budget proposals announced the plans to set up the agency by merging The Customs, Excise and Inland […]
Friends from NSB
National Savings Bank launched a savings based pension scheme ldblquote Friends dblquote recently.rn rnThe bank says the account that offers a monthly interest of over nine percent is a good investment since inflation rates are expected to fall to single digit levels.
Fuelling The North
The World Bank is taking a new approach in lending to the poor.rn rnIt quote s letting the people decide where they want donor money spent. rn rnIn the war ravaged north and east the needs are pretty basic.rn rnPeople want school buildings for their children to study in, irrigation ditches to water their crops […]