Tall Order
Offering greater value to its tenants, the World Trade Centre (WTC) in Fort together with Dialog, has put in a fibre optic internet backbone in the twin …
Industry
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Suspension – II
The Supreme Court on Monday gave Central Bank 14 days to re-suspend Pramuka Banks license to facilitate restructuring.The Court concluded that interested …
Super Watchdog
Draft legislature to set up the super regulator for the information and communication sectors is now up for discussion.The bill will help form the Information …
Taking Off
Two parties have shown interest in funding the first phase of the development of regional airports to boost domestic air travel in the country.Denmark and the …
Return Ticket
Supreme Court on Friday refused to take up Central Banks appeal on the Court of Appeal decision on Pramuka Bank.The Central Bank sought to stay the Appeal …
Bad Line
Sri Lanka Telecoms rating outlook was revised to negative by Fitch Ratings, as liberalization poses many uncertainties for the telecom giant. Fitch says future …
An Eagles Calling
National Development Bank on Thursday acquired Zurich Insurance Companys 58.44 per cent stake in Zurich NDB Finance Lanka endash the holding company for Eagle …
Eagles Call
Capital Development & Investment Co (CDIC) plans to come out with a Rs. 1.5 bn rights issue to pay for its acquisition of Eagle Insurance.NDB on Thursday …
Smooth Ride
Bus leasing specialist, Peoples Leasing, raised another Rs. 300 mn via securitisation paper for its general business expansion.First Capital Markets, the …
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 …
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 …
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 …
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 …
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 …
More Probing
Investigations into accounting irregularities at Pramuka Bank are gathering pace with the Sri Lanka Accounting Standards Monitoring Board and the CID …