All Blogs
Mobile Growth
Feb 23 (LBO) – Dialog Telekom, a unit of Telekom Malaysia Bhd said Thursday it is splurging US$150 million to expand its network by over 50 percent this year. Part of the funds will be channelled to a proposed 3G (third generation) network, build a fibre optic infrastructure and offer broadband services to customers. œWe […]
Sri Lanka plans coin series, stamp to commemorate upcoming Buddhist anniversary.
Feb. 22 (LBO) — Sri Lanka is planning to issue a series of coins to commemorate the upcoming 2550th Bhuddha Jayanthi, but details are still being worked out, officials said.The government is to issue at least three new coins and a souvenir stamp, B N Jinasena, Secretary to the Religious Affairs Ministry said Wednesday. Two […]
State Birth
The Sri Lankan government is planning a Rs. 2.2 billion capital injection into the failed Pramuka Bank, in hopes of reviving it as a state-owned bank. Money for the capital injection will come through a long-term government bond issue. Banking Development Minister Wijedasa Rajapakse said the Cabinet of Ministers had approved a draft bill to […]
Sick Leave
Feb 22 (LBO) – Some workers at Sri Lanka’s state owned power utility struck work on Wednesday in protest over unpaid wages, without disrupting power supplies. The politically affiliated Viduli Sevaka Sangamaya (VSS) said they would be on a ‘sick-note’ campaign, not reporting to work until 4.00 pm on Wednesday evening. The Ceylon Electricity Board […]
Government plans new coins to commemorate religious anniversary
Feb. 21 (LBO) — Sri Lanka’s Central Bank is preparing to issue two new coins commemorating the 2550th ‘Bhuddha Jayanthi’, a top official of the Religious Affairs Ministry said Tuesday.The ministry of religious affairs says one coin would be high value commemorative coin while the other would be released into circulation. The coins issued in […]
Cost Base
Feb. 21 (LBO) — Sri Lanka’s telecom tariffs will be put to the test under a new cost based study initiated by the island’s telco watchdog. The Telecommunications Regulatory Commission (TRC) this week called for expressions of interest from consultants to develop a cost based tariff table, studying the three fixed and four mobile service […]
Vote: With the ballot or with your feet?
Feb 21, 2006 (LBO) — In some discussions in 2002-04 when the government was interested in a bridge cum utility conduit over the Palk Strait (the now forgotten “Hanuman Bridge”), someone expressed concern that it would make illegal immigration to Sri Lanka easier. My reaction was that I wished that were true. In the 1960s, […]
Last Warning
Feb. 21 (LBO) – About 50 public sector trade unions called off a planned strike, giving the government a ten day ultimatum to sort out salary anomalies. Unions want the government to give low and middle level public sector workers higher wage increases, instead of the 25 percent or less approved by a government circular […]
Here’s Hoping
Reports that the treasury has set off tax liabilities of the Ceylon Petroleum Corporation against the full subsidy due from the government, has raised expectations that Lanka IOC would also get the full subsidy owed to it. The treasury has agreed to set off Rs. 25 billion in taxes due to the government, a top […]
Money changers given more time to put up capital
Feb 20 (LBO) – Money changers who lost their license have been given a second chance by the Central Bank to continue their business. Five money changers who lost their license have been given till February 28 to put up the extra Rs.9 million to meet the enhanced capital of Rs.10 million, the Central Bank’s […]