Moral Support
Finance Minister K N Choksy has pledged his support to the current efforts to restructure Pramuka Bank. The minister sent a handwritten letter to a depositors …
Industry
Sea Legs
The governments deadline to set up a port regulator is due in August 2004, with only a draft bill to govern the industry available so far.The regulator was due …
SBI Credit Cards
State Bank of India plans to aggressively expand local operations.The bank is planning a branch in Kandy as the first step in expansion plans to get a wider …
Hats Off
SL A+ long term rating denotes a low expectation of credit risk. The capacity for timely payment of financial commitments is considered strong. rnrnldblquote …
Public Watchdog
The World Bank says it is critical Sri Lanka enacts the new Public Finance Bill that is in the works, to increase public scrutiny over the state purse.In a …
Colonial Luxury
The Galle Face Hotel will leap into modernity in grand old style, revamping itself as a luxury lifestyle experience that also comes with a personal butler.Some …
Data Entry
Sri Lanka Telecom (SLT) diversified its business interests further, opening an internet data center (IDC) in Colombo. The SLTiDC will offer a range of data …
Valet Service
Janashakthi Insurance is counting on the motor market, the fastest growing insurance sector, to expand its share of the local insurance market.Motor insurance …
Worker Rule
The newly minted labour compensation formula is likely to be amended, after union agitation to leave it flexible for negotiation.Under proposed changes, all …
Within The Ranks
Police inspectors and sub-inspectors are tipped to take home an additional Rs. 900 every month above their salaries, calculated as set out in the 2004 budget. …
Ground Work
The consortium led by Asia Capital will start due diligence work on Thursday, to revive the trouble Pramuka Savings & Development Bank.The start date follows …
Double Booking
SriLankan Airlines will link Hayderabad, the capital of the Southern Indian State of Andhra Pradesh, with Colombo as part of its twin destination holiday …
Take Home
Microsoft could couple a home edition license of its new Office 2003 software package free with every corporate license it sells in Sri Lanka. The incentive is …
Standard Rates
The Tourist board is drawing up standards for emerging niche areas like Ayurveda, eco-tourism and spas, to certify and rank tourist hotels and resorts.Modelled …
Soothing Balm
Finance Minister K N Choksy has appointed a committee to look into raising salaries of the Police force.Salaries of the armed forces and the police, were …
Open Arms
Sri Lanka and Bangladesh will dismantle all non-tariff barriers blocking trade between the countries, as a first step to a Preferential Trade Agreement …
Port of Call
The Sri Lanka Ports Authority (SLPA) has set sail a proposal that will allow it to operate ports in foreign shores.SLPA Chairman, Dr. Parakrama Dissanayake …
Alternate Landings
The Board of Investment will call for bids to develop the countrys first alternate airport on a lquote Design Build Turnkey model, in two weeks.A …
Road Show
The Supreme Court made history this week, rapping the Road Development Authority (RDA) for deviating from its original route for the Southern highway, …
See Me
Dialog GSM says it is planning to create competition in international submarine bandwidth. Last Friday the IFC gave US$ 50 million in loan funding to the fast …