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Community Support
ADB will help restore basic social infrastructure and community services in conflict-affected northern and eastern regions of Sri Lanka, through a US$10 million loan approved Tuesday. rnIn support of existing rehabilitation and relief efforts under ADBs North East Community Restoration Development (NECORD) project, this extension project will address basic needs in health, education, agriculture, community, […]
Pyramid Warning
The Central Bank on Thursday warned public against gambling on get-rich- quick referral schemes that promise unusually high returns. The Central Bank on Thursday warned public against gambling on get-rich- quick referral schemes that promise unusually high returns. Responding questions at a media conference regarding Central Bank’s stance on the proliferation of get-rich-quick schemes in […]
Make Up Please!
Twelve State entities handpicked for a commercial makeover, will be set targets to clean up their act and look for private investment, a top government official said Tuesday.Mano Tittawella, Senior Presidential Advisor said ailing state enterprises, which includes utilities, ports, airports and banks, will have to get a credit rating and be responsible for their […]
Country Gardens
The city of Nuwara Eliya is trying to clean up its trading activity to bring back its scenic beauty but the change of government put plans on hold.Nuwara Eliya endash also known as little England because of its climate difference from the rest of the country – is one of Sri Lankas main tourist hot […]
Debt Call
The governments US$ 100 mn bond issue opens on Tuesday, to raise funds to bridge the budget deficit.The Sri Lanka Development Bond issue will carry a minimum two-year tenure and will be linked to the six months London Interbank offered rate or LIBOR.rn rnInterest rates will be paid semi-annually, with minimum investment of US$ 100,000 […]
Tourism Spin
Spin wizard Murali is spinning more than the ball for Sri Lanka, turning more Austrailian tourists here to watch him turn it on local wickets, says the Tourist Board.Visitors to the island from down under went up to 1089 in May up from 720 the year before.Up to May 6,843 Australians have visited, up 23.5 […]
Value Addition
Do quality certification programmes bring tangible improvements to businesses?This is one key aspect that a new certification services company in Sri Lanka plans to address as it seeks to establish itself as a provider of value-added certification services to the islands corporate sector.rn rnQuality International Certification Services (Pvt) Ltd., (QICS) commenced operations recently as the […]
Wrong Call
A truce between Tiger rebels and troops has helped Sri Lanka recover its reputation as a tourist paradise, but the halt in hostilities has triggered a battle against foreign prostitutes.Nightlife in Colombo has been stimulated with the growth of bars, night clubs and casinos after the Norwegian-brokered ceasefire took effect from February 2002 and with […]
Hang On
US interest in Sri Lanka went inland to the conflict riddled Eastern districts of Ampara and Batticaloa this week to emphasise the benefits of peace.This week, the Deputy Chief of Mission at the U.S. Embassy in Colombo James F. Entwistle, visited six USAID funded projects in Ampara and Batticaloa.rn rnOn Monday, Entwistle met with residents […]
Tough Talk
The Sri Lankan government said Monday that it will refrain from a mass hiring of management trainees for positions in 12 key state enterprises.The government plans to take in around 25,000 unemployed citizens for public sector jobs this year.rn rnMano Tittawella, an adviser to President Chandrika Kumaratunga, said key institutions such as the Sri Lanka […]