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| Wednesday, 11 June 2003 |
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Business in brief VSNL of India gets TRC approval MUMBAI, PTI - Videsh Sanchar Nigam (VSNL) has received approvals from the Board of Investment (BOI) and the Telecom Regulatory Commission (TRC) to form a public limited company, even while it relieved 388 employees, who had opted for the voluntary retirement scheme (VRS). "The new company, to be named as VSNL Lanka Ltd, will apply for a licence to undertake international telecommunication activities in Sri Lanka," VSNL told the Stock Exchange, Mumbai (BSE) on Monday. The telecommunication services provider also said it has relieved 388 employees under its VRS scheme till May 31, and added the scheme would close on July 14. The Tata company had offered VRS to its employees who are of 40 years of age and had completed 10 years with the company. VSNL also had mandated that employees should have a minimum of three months of service remaining with the firm. The company, which has 2,700 staff, was expecting an outlay of Rs 100 crore if 1,000 employees opt for VRS. Overstaffing was slated as one of the problems of VSNL. VSNL board, at its meeting held on May 29 last had approved the voluntary dissolving of its subsidiary VSNL Seamless Services (VSSL), it said. Growth in exports, imports in April The recovery in exports and imports that had been experienced by Sri Lanka during the last few months continued for the seventh consecutive month in April, 2003, Central Bank said yesterday. Export earnings in US dollar terms increased by 21 percent in April 2003 in contrast to a decline of 19 percent recorded in April, 2002. Similarly, the expenditure on imports increased by 12 percent, when compared with a decline of three percent in April, 2002. However, the monthly trade deficit widened marginally to US dollars 230 million in April, 2003 compared to a deficit of US dollars 226 million in April, 2002. The cumulative export earnings during the first four months of 2003 increased by 13 percent, in contrast to a drop of 21 percent in the comparable period in 2002. Similarly, the cumulative imports increased by 13 percent as against a decrease of 12 percent in 2002. Consequently, the trade deficit in the first four months of 2003 increased to US dollars 566 million, compared with a deficit of US dollar 503 million recorded during the first four months of 2002. Apollo Colombo celebrates first anniversary Apollo Hospitals Colombo celebrated its first anniversary on June 7, with several events covering religious, social and community service activities. Religious dignitaries of all faiths bestowed blessings on the hospital in recognition of its continuing efforts for the uplift of healthcare facilities in Sri Lanka, a statement from Apollo Hospital Colombo said. Apollo's staff and managers had many events including a staff day with games and fellowship. The celebrations began the evening before with a company concert by staff, while the morning of the anniversary itself started with the religious ceremonies. This was followed by an Apollo Day which was dedicated to the staff of the hospital. The evening was dedicated to charity in the form of an 'Apollo Nite' in aid of the Camilla School for handicapped children. Since June 7, 2002, there have been many achievements, medical breakthroughs and new departments realised in Apollo's efforts to further the range and scope of medical services available at Apollo. In continuing its endeavours Apollo has greatly uplifted the standards and practices in the healthcare industry. In its own real way Apollo has realised its promise and their most sacred oath to its customer's, of providing international standard healthcare. From the day of the inauguration there have been nearly two million patient interactions of all specialities carried out so far by Apollo Doctors. As well as having all the secondary and primary care services available at any other hospital in Sri Lanka, Apollo also has many new tertiary level services available for patients. |
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