Mahinda Marketing

If Sarath is the talk of the town, Mahinda is the face. His image blankets the walls, towers above Horton Place and even lines your pockets. As the election season begins Mahinda is the first and the widest out of the gate. There’s only one piece of printed matter that matters, however, and that’s the [...]

$ 10 Mn. Subsidy For Broadband Rollout

The Government is offering a U.S.$ 10 million subsidy for a data services provider to launch an islandwide broadband backbone. Reshan Dewapura, Chief Operating Officer, Information and Communication Technology Agency of Sri Lanka (I.C.T.A.) told The Sunday Leader that a tender in this regard has already been called, with rollout expected during the first quarter [...]

Raj sells out

Sri Lankan born but U.S. based billionaire fund manager Raj Rajaratnam who is under investigations for alleged insider trading has all but sold out his holdings in Sri Lanka. Rajaratnam who was having those investments under his Galleon Fund has sold out his holdings in H.N.B. in which he originally had seven million shares, whilst [...]

Aid For Esri Lanka

The war end may make it conducive for the Government to get World Bank (W.B.) aid for the second stage of the eSri Lanka project. Ms. Naoko Ishii, Country Director, W.B., responding to a question asked in this regard at a seminar on Friday said that the W.B. has already committed its funding for the [...]

To N.E.

Two companies, with the assistance of an n.g.o., has embarked on a project, targeting to teach I.C.T. to nearly 2,000 youth in the North and East. In this U.S.$ 263,500 project; components include the gifting of 100 computers, each valued at Rs. 70,000 by HSBC and the provisioning of free software by Microsoft. The facilitator [...]

Instability boosts market

A foreign fund bought 4.4 million shares of J.K.H. at Rs. 154 a share on local selling at Friday’s trading, with foreigners looking at blue chip stocks such as J.K.H., H.N.B., N.D.B. and Commercial Bank after doing their homework with the war end, market sources told The Sunday Leader. The market is now on a [...]

Austerity in good times

Spanish banks relative to their peers were able to weather the global financial downturn better because their laws made it mandatory for banks to top up their reserves in good times, an official said. Ms. Gillian Lees, Thought Leadership Specialist, CIMA London, quoting CIMA’s Professor of Management & Accounting at the London School of Economics [...]

Consumer rights violated

A consumer has the right to receive a receipt or a written acknowledgement for a service for which he has made payment, even though he may receive confirmation that such a payment was received a few hours later. But one mobile phone company allegedly doesn’t believe in giving such acknowledgements for at least one particular [...]

School of Banking

Hatton National Bank (HNB), the premier private sector commercial bank in Sri Lanka has stepped forward to uplift Banking and Finance education among the youth in the Jaffna peninsula. The Bank anticipates an increasing demand for skilled & trained financial services sector professionals in the North & East (N&E). An initiative was taken by HNB [...]

Rupee

With yields on Government securities, coinciding with the war end falling, purchase of such securities is seemingly now unattractive to foreign investors, hence the drying up of foreign inflows into that sector. Coinciding with this scenario, import pressure due to seasonal demand, complemented by falling interest rates, built-up in the week ended November 27 also [...]

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