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Family Planning
SriLankan Airlines could add up to four new aircrafts to its fleet this year as new destinations come on line. rnSriLankan Airlines Head of Commercial G T Jayaseelan told Lanka Business Online that two long haul aircrafts could be brought in to service the proposed Rome and Beijing routes later this year.rn rnJayaseelan says that […]
Triple Deck
National Savings Bank got top billing by becoming the first local bank to secure a SL AAA (Triple A) national rating from Fitch Ratings Lanka Ltd for its implied long-term unsecured senior debt.Citibank N.A.s Sri Lankan operation recently secured a SL AAA for its senior debt.rn rnSL AAA long-term rating denotes a very low expectation […]
Big Catch
The Ministry of Fisheries is pushing for new infrastructure to harbour foreign vessels fishing in international waters off Sri Lanka. Thernproposal along with a number of other projects is part of a ten year plan setrnout by the Ministry to tap the potential of the industry in its 2002 NationalrnFisheries Policy, Development Plan and Progress […]
On Air
The Science & Information Technology Ministry says the consultant has to write out the terms of reference or TOR for the new regulator.rn rnThe TOR will set the base for another consultant to draw up guidelines on how the cable and the broadcasting industry will be policed.rn rnThe fresh piece of legislation will replace the […]
Home Loans
The Urban Development Authority (UDA) is drawing plans to raise money from the local financial market for a mega housing project in the Colombo area. The total cost of the 1,200 house project has not been finalised, but officials estimate each house to cost Rs.1.2 million including the land. rn rnUDA lands in and around […]
Cargo Business
SriLankan Cargo, the cargo arm of SriLankan Airlines, has handled the largest volume of transhipment cargo in January 2003 since July 2001.The volume of transhipment cargo handled in January totalled 1,341 metric tonnes, the airline said on Wednesday.rn rnSriLankan Cargos contributes around 14 percent to the airlines group revenues.rn rnSriLankans fleet currently comprises two Airbus […]
Oil Clog
Airfares will go up by up to US$ 10 per sector from Wednesday, as carriers try to cover rising fuel costs. Fuel prices since January have shot up from 86 US cts to 106 US cts in March ignited by the rising tension in the Middle East.rn rnAirfares to India will only go up by […]
Catch Up
The Asian Development Bank (ADB) is giving US$ 150,000 by way of technical assistance to carry out a survey on Sri Lankas business climate.ADB on Wednesday said the study would look at Sri Lankas investment climate and productivity aims to foster private sector development that contributes to long-term poverty reduction.rn rnThe survey will look at […]
Mark Up
Sate insurance giant Sri Lanka Insurance Corp. (SLIC) posted a provisional Rs. 753 mn profit for 2002, despite rising reinsurance premiums.Net earnings in 2001 were Rs. 1.16 bn, an unusual year when it booked heavy investment income of Rs. 700 mn. rn rnThe company earmarked for privatisation next month said its premium income grew by […]
Varsity Basics
A World Bank project to revamp tertiary education, pegging university funding to performance for the first time, will be rolled out by May this year.The US$ 43 mn project funded by the World Bank will see the project through its implementation, spread over a five-year period.rn rnSignificant is that universities are now being held up […]