Category: Industry
Picking Up Lost Time
Spearheaded by the Labour Ministry, the initiative will be in the form of a five-year rolling plan, a draft policy of which has already been drawn up. rnrnSponsored by the United States Agency for International Development (USAID), the policy will be managed and implemented by the Labour Ministry. rnrnAt a productivity growth rate of three […]
Poor Show
The bank is also planning to raise Rs.1 bn to its Tier II capital ratio through a debt instrument or preference shares, to improve its total capital ratio to 11 percent from current 9.53 percent. rnldblquote We have been through hard times, but never like this before dblquote , HNB quote s Managing Director Rienzie […]
Breaking Boundaries
Suntel wOw has signed up with Dialog, Celltel and Mobitel enabling its portal users to send SMS to these networks. rnrnHowever, Celltel and Mobitel users have the added advantage of replying back to the wOw SMS. rnrnldblquote This is a major break through facilitating interactivity between two different means of communication endash the Internet and […]
Future Proof
Speaking to LBO, Intel quote s GM endash Channels South Asia, Amar Babu said though Sri Lanka was behind Bangladesh in terms of sales, it was the fastest growing market in the region. rn rnldblquote With the recent political changeover in Sri Lanka, we expect demand to grow significantly. dblquote rnrnIntel is also pursuing a […]
Hear Us
The system of policy and law enactment has come under fire, for its lack of transparency and closed-door attitude to open discussion and consultation. rnrnIn a statement issued by the trade chamber, ldblquote If the private sector is to be considered the engine of growth, then it is imperative that the business community be informed […]
Small Openings
On the cards are a higher ownership limits on foreign stakes in financial services including banks and insurance companies. rnPresently, foreign ownership is limited to 49 percent in Finance services, 90 percent in insurance companies and 60 percent in banks. rnCentral Bank Governor A S Jayawardene said they were discussing various possibilities, lquote but the […]
Colombo Goes Online
Colombo is the latest station on the Emirates network to receive the on-line booking facility, which also allows travellers to check seat availability on all Emirates flights and obtain fare quotations. rnrnOn-line bookings have to be completed three working days prior to flight departure and tickets for on-line bookings will be delivered by Emirates to […]
Too Hot
The competition is not unique to Sri Lanka, notes visiting CIMA President Bruce Epsley. ldblquote Other rival courses are also offering university degrees and so forth. So we plans to unveil a series of value addition measures to stay ahead of the pack, dblquote he said addressing a media briefing today. rnrnCIMA exams have got […]
Short Cut
The government presently runs a two-tier tax system where provincial councils charges a 1 percent Turnover Tax (TT) while the Inland Revenue charges a 12.5 percent Goods & Service Tax (GST). rnrnThe chamber is proposing the government broadbase GST to cover all activities ranging from production distribution chain right through to the consumer and eliminate […]
Passing The Buck
ldblquote The request will be made to the Secretary Treasury, shortly.Our auditors PWC [PricewaterhouseCoopers] has informed us that a provision would be needed to cover the exposure in the absence of a government guarantee dblquote , the source said. rnrnThe state utility has stopped paying the capital element of the repayments, but continues to service […]
Unshackling Prices
The removal of government regulation of drug prices will be a temporary measure for a period of six months to be reviewed afterwards. rnrnThe initiative, backed by Consumer Affairs Minister Ravi Karunanyake follows in the wake of the new government policy of liberalisation and deregulation. rnrnldblquote One of the key reasons for decontrol is that […]
No Way
IPBCC or India, Pakistan, Bangladesh, Ceylon Conference, representing 14 shipping lines serving the region has proposed an increase of US$ 300 and US$ 600 on 20 foot and 40 foot containers outward bound from Colombo. rnrnThe increase is applicable for UK, Continent, Scandinavian and Mediterranean destinations. rnrnIn a statement issued today, Shippers quote Council Chairman […]