Industry

First Steps

Pakistani based Union Bank Ltd plans to pump in over Rs. 250 mn to its newly acquired Sri Lankan operation.The bank made its maiden foray into the …

Low Key

State run Bank of Ceylon is talking to a potential investor to sell off a bulk of its Pakistani branch operations.Sources said Dawood Bank Ltd has agreed to …

Road Talk

The Malaysian government is in talks to fund the Rs.30 bn Colombo-Kandy Highway, on a Build, Own and Transfer basis (BOT), starting 2005. buy stendra online …

Safe Options

IBM says upto 80 per cent of IT related expenses were on maintenance and repairs after the initial purchase, leaving only a 20 per cent of spend on hardware …

Done Deal

The Peoples Bank board has agreed to sell its 62 percent stake in its venture capital arm to the Janashakthi Group for Rs. 165 mn.The deal to formalise Peoples …

Airport Express

Road Development Authority says concession documents for the Colombo endash Katunayake Expressway project will be ready in 16 weeks.PriceWaterhouseCoopers and …

Rest In Peace

The government urban planning agency (UDA) is considering the full or part sale of over 40 Rest Houses under its ownership.The urban development authority says …

Cut The Cut Throats

Telecom watchdog - the Telecommunication Regulatory Commission (TRC) - is getting advice on identifying and handling dominant players, which is key to …

Tax Free

Asian Hotels will merge with fully owned subsidiary Crescat Developments (CDL) to take up recent tax relief offered to help under performing industries. The …

Two More

In line with the national numbering plan, Sri Lanka Telecoms Colombo Metro subscriber base whose numbers begin with 3,4,5,6,7,8 and 9.The six digit phone …

Counting Pennies

Private sector credit demand has been on an upward trajectory this year, with the Central Bank expecting year-end growth to hit 16 percent.rnrnrnrnrnrnrnNew …

Big Appetite

Peoples Leasing Company (PLC) is looking to strengthen its top position in the leasing market, with an ambitious plan to penetrate deeper into the growing …

Weight Watching

Peoples Bank is talking to investors to sell off two of its subsidiaries, as part of its ongoing restructuring programme.Sri Lankas largest state-bank has …

Pocket Banking

Celltel subscribers who bank with Sampath Bank can virtually carry their bank in their pockets, through an innovative SMS-based facility launched this …

Who Is The Winner?

A consortium of state institutions led by the Bank of Ceylon (BoC) has expressed interest in taking over undercapitalised Peoples Bank. The National Savings …

EPF, ETF Merger

The two state pension funds, the EPF and the ETF are going to be merged next year in a bid to draw on synergies between the two.A consultant is expected to be …

Magic Touch

Rising IT superstar, Millennium IT is heading for a US$ 5 mn net profit this year, after clinching top clients for its innovative line of products.The firm is …

Big Brothers Help

MERC Bank is hoping to expand its loan book by leveraging on DFCC Banks balance sheet.DFCC Bank, which acquired a 90 percent slice in the trouble MERC Bank for …

On Target

NDB Banks post tax profits surged 46 percent for the first six months of 2003 and said it was on target to merge with National Development Bank (NDB) by the …

True Profits

Rising profits from ground handling and an accounting policy change helped SriLankan Airlines buck the international trend to report a Rs. 2.1 bn (US $ 21mn) …