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Holding Firm
Three-month notes dropped one basis point to 12.93 percent, six month bills slipped one basis point to 12.97 percent and one year treasuries lost four basis points to 13.74 percent. rnrnDealers say rates have held firm, despite a Rs. 7.8 bn liquidity crunch on seasonal demand. rnrnDealers expect the shortfall to ease after the New […]
Sticking To It
Cellular operators stuck to their guns to go ahead with a tariff increase, despite the telecom watchdog hotly denying the revision got its approval. rnMass Communications Minister Imthiaz Bakeer Markar also stepped into the fray to stand by his regulator, telling parliamentarians that the controversial revision was illegal. rnrnCellular operators raised tariffs yesterday, after informing […]
Three Year Truce
The two agreements will lay a foundation on which future growth plans can be built, CEAT-Kelani Associated Holdings Managing Director V. Sekhar said. rnrn”With active technology support and assistance from CEAT India, the CEAT tyres in Sri Lanka have been re-designed for enhanced performance and coupled with an aggressive pricing strategy. CEAT-Kelani is now poised […]
Ripping Spree
An lquote anti-piracy strategy quote is on the cards as a counter offensive to pirating, promoting fair market access and adequate copyright laws. rnrnWatchdog arm of the Recording Industry Association of America (RICCA), the IFPI, an international organisation battling music piracy worldwide, has turned its efforts to Sri Lanka. rnrnThe organisation quote s Regional Coordinator […]
Fast Track
SLT has tied up with Alcatel to upgrade its network with ADSL or Asymmetric Digital Subscriber Line technology, amid mounting demand for speedy data and Internet services. rnADSL turns ordinary telephone lines into high-speed digital channels and allows access to the Internet and multi-media services at up to 10 times the speed achieved across copper […]
Limping Back
Capitalising on the recent peace dividends, SriLankan Airlines is looking at the possibility of recommencing domestic air services to the North. rnThe airline quote s technical team together with the Civil Aviation Authority officials will fly to Jaffna tomorrow to assess the ground situation, SriLankan said. rnrnSriLankan Airlines has shown signs of a rapid recovery, […]
Legal Liquors
Tea imports into Pakistan fell by 12 percent in the first quarter this year to stand at 29.9 mn kilos. The lowered volumes mirror a booming market for smuggled tea, with as much as 30 mn kilos entering the country through illegal trade channels.Seizing opportunity, as one tea broker said, this could be the ideal […]
Cutting Tape
Cabinet spokesman Prof. G L Peiris announced that a decision to this effect was taken yesterday, allowing private operators re-enter domestic air travel. rnrnMeanwhile, in a shift of policy, the opposition members from across the floor will from now on be elected to chair the Public Enterprise Committee and the Public Accounts Committee. rnrnOpposition MP […]
Sea Battle Continues
In early March the WRS was completely scrapped by the London Lloyds quote War Risk Rating Committee, following heavy diplomatic lobbying and an independent security audit on Colombo port. rnrnAll members of the India, Pakistan, Bangladesh, and Ceylon Conference (IPBCC) have scrapped the WRS on the Colombo/Europe route, but some members continue to charge it […]
Six Stars
The recent hike, effective from April 1 has put hotels into a separate category, at a rate of up to Rs. 10.90 per unit of electricity. rnrnThis is over and above the previous net tariff rate of Rs. 5.44 a unit. rnrnHotels have been classified under the industrial tariff category since 1994, providing hotels with […]