Category: Industry
Bumpy Ride
Prospective buyers are expressing reservations over government plans to hold majority stakes in the regional bus companies to be sold next week.The 13 regional bus companies are due to trade on the Colombo Stock Exchange on Wednesday, with the government continuing to hold a majority 51 percent stake. rnrnThe government expects to inject an estimated […]
Hatching up at the nursery
At one time he used to collect a list of customers needing service in the morning. But now he gets an SMS message whenever a customer in his areas has a sudden problem. rnrnWithin seconds he is speeding to the Gestetner customer needing attention. rnrnMissed calls have become a thing of the past. After the […]
HDFC aims for Rs. 2 bn
Housing Development Finance Corporation (HDFC) says it will raise more funds from mortgage-backed securities following the runaway success of the first two tranches. rn rnLast week it raised Rs. 250 mn from DFCC, Commercial Bank and Union Assurance.Earlier this year it raised Rs.500 mn from National Savings Bank. rnrnPlacing agent Capital Alliance says the latest […]
HSBC at the back end
Its credit card infrastructure is capable of handling 300,000 cardholders. rnrnOfficials say banks that wish to offer cards to customers can issue cards under their own brand, using HSBC facilities. rnrnldblquote Since we have the infrastructure which can handle a volume three times of the volume we have now we are now looking at anyone […]
Exp.Aug05
Sri Lanka Telecom quote s (SLT) Japanese partner Nippon Telephone & Telegraph Co. has asked its employees to leave Sri Lanka this weekend, after failing to negotiate a fresh deal with the government.rn rnNTT quote s management contract with SLT expires on August 5, after the government informed the Japanese partners in February of its […]
Hello There
The telecom sector will see sweeping reforms shortly including the liberalisation of international gateway as well as access to new entrants to both fixed and mobile services to improve coverage in rural areas, officials at the Policy Development Ministry said.
Home Loans
State-run housing giant, the Housing Development Finance Corp.(HDFC) is hunting for more cash to meet is Rs.2.0 bn loan disbursement requirement.rn rnChief Executive, C A Sarathchandra says the current economic revival has created a big appetite for low and middle-income houses. rnrnWith the corporation quote s loan disbursements, presently averaging around 1,000 per month, HDFC […]
Short Change
Treasury officials say that given the exemptions in the revised bill, initial estimates for the first year will have to be marked down. rnrnA slight drop to Rs. 2 bn is expected, Inland Revenue officials said, but any significant effect of the exemptions is likely to be seen once payment flows start at the end […]
Play Time
Deputy CEO Sarath Piyaratna says the bank is keen to develop their future customer base and this new initiative would be the first step.rn rnThe bank in recent years introduced a number of target market specific banking services to cater to the spectrum of ages. rn rnServices including the E-Saver endash targeting young adults and […]
CAT Walk
The Commercial Bank of Ceylon has improved its Internet Banking facility with several enhanced features.
Safety Net
A key component of the safety net is an unemployment insurance scheme for laid off workers. rnThis would supplement the compensation given by the restructuring company.rnA compensation formula that has already been announced is to be given legal effect later in the year. rnOfficials say the unemployment insurance may be funded by a one per […]
SLIC Reports Profits
State Insurance giant Sri Lanka Insurance corporation reported a billion rupee profit from on the back of a booming stock market.rn rnThe company suffered a marginal Rs. 2 mn on its core general insurance business. rnrnBut the profits came from a massive write back of provisions for stock market investments. rnrnHigh returns on government debt, […]