Category: Industry
Divide and Conquer
SLT officials failed to disclose the number of entrants, but said they had received a very favorable response from leading consulting firms.rn rnSenior officials added they had not decided on a time frame for the restructuring process but would be finalizing the implementation process soon after the shotlising of consultants was completed.rn rnMeanwhile, industry sources […]
Nine eye Club Bentota
Managers to the sale DFCC Bank said the nine parties have time till June 3 to submit their proposals for the 150-bedroom property, which was earlier known as Robinson Club, Bentota. rnThe selected candidates includes, Confifi Management with Cino Lanka (of Kundanmal Group); Willam Bogstra with a group of Austrian investors; Serendib Leisure, Aqua Sun […]
Out of The Box
Initiated by Conceptnursery.com, the competition will call for IT solutions for real life situations of leading companies. rn rnPromoters hope to attract at least three companies who require solutions and are willing to fund the follow-up project. rn rnThe three most innovative ideas will be incubated at the nursery along with funding and working capital.rn […]
Country Roads
Dialog hopes to launch the project towards the end of the year in a tie up with local payphone operators in un-serviced areas.rn rnCompany officials said the payphone system could be set-up with minimal effort, as it only requires a basic payphone interface and a pre-assembled black box that contains a receiving and transmitting device […]
Pushing Ahead
“The government is interested in getting one (rating) as it will bring in financial discipline and also be a benchmark for local companies to raise money internationally.With the peace process going on we plan to restart the process this year,” Central Bank Governor A S Jayawardene said. rnInitially, the Central Bank had planned to go […]
Calling Home
Hedging against the brain drain, a public-private sector drive is underway to give expatriate Sri Lankans enough of a reason to come home.
Scanning Cheques
Cheque imaging or cheque truncation as it is known, enables cheques to be scanned before directing it to the relevant banks electronically. rnrnldblquote Cheque truncation shortens clearing time from 1-7 days to just two days the maximum, dblquote Chairman R B Ekanayake said in an interview. rnrnThe present magnetic reader system, requires all banks to […]
Battle Ship
An industry spokesperson said this hogging exercise was causing unnecessary delays in servicing the cargo ships.rn rnldblquote Jaya Container Terminal (JCT), with its 10 berths, is virtually idle while SAGT operating two berths is struggling to cope with its greedy ways, dblquote the spokesperson said. rn rnThe spokesperson claims that a ldblquote first to refuse […]
Opposite Direction
The withholding tax on interest income is having reversal effect on treasury instruments, with the government effectively paying the tax up front at the time of the auction. rnWhile the 10 percent tax pushes the cost of borrowing up, dealers end up adding the tax when they bid at the auctions. rnImposing the tax on […]
IT Expedition
Still in its infant stage, GeneSys is waiting for the auspicious moment in August when the Telecommunications Regulatory Commission will formally declare the reformed IT and Telecom Act, to launch a flurry of communication services here and abroad.rn rnThe company quote s focus areas will include payphone and prepaid-card platform development, cable TV network design […]
Cleaning Up
The introduction of the Code of Best Practice for Audit Committees will require auditors to be more transparent with their fees, and the reporting of conflicts of interest with the management. rn rnThe Institute believes that this will enable the audit committee to differentiate audit work from the other services rendered. rn rnThe Code, despite […]
Off The Runway
Capitalising on the recent peace dividends, SriLankan Airlines plans to step up its recruitment drive and scout the second-hand aircraft market to lease two Airbuses and a smaller passenger aircraft this year, the national carrier quote s CEO said today. rnrnThe carrier also hopes to swing back to a profit in the present fiscal year […]