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 …
Industry
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 …
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) …
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 …
Safe Bet
Nations Trust Bank has secured a SL A- national rating from Fitch Ratings Lanka for its long-term unsecured senior debt.SL A- long-term rating denotes a low …
Making It Work
rnrnrnrnrnrnNew Page 1rnrnrnrnrnSources said Bank of Ceylon,rnNSB, Commercial Bank and John Keells Holdings are keen to invest.rnThe government is …
Index Link
The treasury of Sri Lankas first development bank snapped up bulk of a two index linked commercial paper issues this week, betting that the stock market would …
Skyward Mobility
SriLankan Airlines tied mobile usage to its frequent flyer rewards programme endash Skywards, tying up with local mobile operator Dialog GSM. The partnership …
Revenue Options
The Accounting Watchdog plans to charge a cess from firms it audits accounts, beginning next year.rnrnrnrnrnrnNew Page 1rnrnrnrnrnPlansrnare also underway to …
Split Options
Telecom operators have provisionally consented to split transit operation revenue in a 40:60 basis to replace the present 20:80 ratio.However, the new ratio …
More Exploring
Central Bank withdrew its appeal in the Supreme Court, against the order given by the Court of Appeal on the Pramuka case on Monday.The Appeal court issued a …
Quick Drip
Cutting out the hassle in claiming medical bills, Eagle Insurance on Monday launched a cashless hospital bill payment system. The cashless payment system, a …
Sharpening Skills
The Asian Development Bank is helping Sri Lanka to reduce the mismatch between worker skills and labour market demands, through a US$ 600,000 technical …
When youre talking’85
Mobile service providers expressed concern last week over Mobitel announcement about its plans to launch a digital network.Other players fear that the company …
Professional Managers
The Alumni of a top business school is looking for a parliamentary nod to setup a professional body of managers with its own code of ethics.The self-financed …
AASL Grounded
Aviation officials warn that the government would lose over a Rs. 100 mn in revenue annually as a result of new concessions granted to SriLankan Airlines under …