Industry

Super Profits

Telecom operator Suntel, says its profits soared to Rs. 200.4 mn in 2002, from Rs. 22.8 mn.Suntel benefited from the prevalent low interest rates, while value …

Fitch Is Watching

Hattion National Bank, Sri Lankas largest privately held commercial bank, had its long-term SL A national rating, put on a ratings watch by Fitch Ratings Lanka …

Riding a Chopper

The Civil Aviation Department says it is talking to the Ministry of Defence and Airport authorities to issue the permits.rnrnCommercial helicopter services …

Easy Money

The six Regional Development Banks are pooling their efforts to make low interest capital infusions into the rural economy. On offer are low interest rates …

Quashed

The Appeal Court in its verdict at Wednesday mornings hearing has quashed Central Banks decision to liquidate Pramuka Bank.Court has also asked the regulator …

Building Reserves

To develop its long term lending portfolio, Hatton National Bank (HNB)will raise up to Rs. 2 bn through a 5 year debenture issue. online pharmacy buy ciprodex …

Breaking Free

Government negotiators have finalised a deal with Emirates to partially lift monopolies enjoyed by the national carrier.Secretary to the Ministry of Aviation …

Final Cost

Telco firms on Thursday agreed on a set of termination charges, setting the stage to launch a caller party pays (CPP) regime by September. However, Sri Lanka …

Big Smile

Shareholders of the troubled MERC Bank have agreed to sell up to 90 percent of the company to DFCC Bank for just under Rs. 60 mn.MERCs shareholders will sell …

More Probing

Investigations into accounting irregularities at Pramuka Bank are gathering pace with the Sri Lanka Accounting Standards Monitoring Board and the CID …

Losing Interest

The Mahapola Trust Fund could pursue legal action against the Presidents Fund to recover over Rs. 1 billion due since 1997. Mahapola Trust officials claim the …

Rate Card

Telco firms have till the weekend to give a final verdict on termination rates proposed in a new cost based study. Industry giant Sri Lanka Telecom was absent …

Base Cost

Telco firms will meet the telecom watchdog Tuesday to discuss termination rates proposed in a recent consultant cost study.Telecommunications Regulatory …

Private port

Colombo South Harbor, which will be more than double the ports capacity to handle containers, is likely to be built with private sector help.Colombo Port will …

Tourism bull

The tourism market is expected to grow at 20% a year over the next five years according to stockbroker estimates. They also say that high spending tourists and …

DFCC gets Merc Bank

DFCC bank plans to offer more commercial banking products to its customers once it acquires a small commercial bank.DFCC says they will not merge operations …

Floodgates

The market raced past the 1000 point mark on Friday in a frenzy of largely local interest, in levels last seen eight years ago.rnrnThe All Share Index climbed …

Beyond Beaches

Surviving through two decades of fluctuating fortunes, tourism is now moving to giddier heights of the big spenders and a niche of expensive boutique …

Hambantota Woes

The Hambantota Port project may not get off ground as soon as expected, Ports Minister Rauf Hakeem warned today.The Canadian firm SNC Lavelin offered to …

Quick Time

Sri Lanka Telecom has started rolling out the first phase of its plan to innovative broadband access technologies for residential and business customers. ADSL …