Author: lbostgadmin
Another Breakdown
The government once again shelved plans to dispose 13 state run bus companies on the Colombo Stock Exchange until further notice.rn rnrnThe Public Enterprise Reform Commission (PERC) said Monday the divestiture of a 39 percent slice in the 13 transport companies has been put off.rn rnA petition filed in court against the transaction, pointing out […]
Zero Base Budgets
The cabinet of ministers has also agreed to move to an output based budgeting system in an attempt to create more accountability.rn rnThe government is planning to reduce next year quote s budget deficit from the present eight point five percent of GDP.rn rnPreparing budgets from a Zero base will require ministries and authorities under […]
Shaking Up Telecom
The agreement will govern how much one operator will pay another for terminating a call in that network.rn rnldblquote Those are the terms and conditions that determine on what terms do we operators interconnect, dblquote explains Suntel CEO Hugo Cederschiold.rn rnldblquote On what charges or fees do we pay each other; what are the call […]
Cheaper Link
Welcome to the world of Voice Over IP or VOIP.rn rnShamil manages the IT department of the Sentra Supermarket chain. rn rnThey have a few fixed line telephones but they don quote t need to use these to talk between any of their four supermarkets. rn rnInstead these calls are channeled into the company quote […]
Computers In Business
A new law that will formally recognize transactions and contracts made through computers is now being drafted officials say.Sri Lankan law does not recognize digital signatures.rn rnAs a result Sri Lankan companies may not be able to make the best use of information communications technology with their counterparts abroad.rn rnThe new law is expected to […]
Overhaul of key financial legislations
The Central Bank is seeking consultancy expertise to help overhaul key financial legislations early next year.The US$ 30 mn World Bank grant project will cover the Monetary Law the Banking Act, Exchange Control Act and Finance Companies Act.rn rnOfficials say Institution specific legislation governing the NDB and DFCC will also come under review. They point […]
Brand Excellence
The islands top brands will be recognized in the first ever brand awards by the Institute of Marketing.Organizers say the exercise could be an initial step towards including brand valuations in the balance sheets of companies. rn rnThe Awards will recognize top product and service brands. There are also awards for the most Innovative brand, […]
Dollar Bond Update
Central Bank is expected to submit a shortlist of investment bank proposals for the monetary board, to raise a dollar loan for the government.Four global investment banks have been short-listed out of twelve applicants to raise US$ 350 mn for the government in the overseas financial markets. rn rnThe shortlist will be presented to the […]
New Innings
Fledgling financial powerhouse, the Janashakthi Group added another trophy to its growing portfolio by taking over the assets of Mutual Finance and Investments Ltd.rn rnRe-christened as Janashakthi Finance and Investment, the Janashakthi Group forked out around Rs. 7.6 mn to acquire the relatively dormant finance company.rn rnWhile approving the formal takeover, the Central Bank as […]
Tour De Begging
Peace talks in Thailand wound up Wednesday, with the government and the LTTE making a joint appeal to the international donor community for aid, in the coming months.
Legal Clean Up
The Central Bank is seeking legal expertise to help overhaul key financial legislations early next year.The project will cover the Monetary Law Act, Banking Act, Exchange Control Act, Finance Companies Act, Finance Lease Act, and institution specific legislations like the National Development Bank Act, DFCC Bank Act, Bank of Ceylon Act and Peoples Bank Act.rn […]
Six Queue Up
Submissions for technical proposals closed on Tuesday evening, but only six parties had responded for the third stage, sources close to the deal said Wednesday.rn rnThe six parties are believed to be, Janashakthi Insurance, DFCC Bank/Commercial Bank, Eagle Insurance with their principals Zurich, Asia Capital/Asian Alliance Insurance and CT Smith Stockbrokers representing a consortium.rn rnEarlier […]