Author: lbostgadmin
Sea Bites
Sri Lanka Telecom (SLT) is on track to reap higher international call revenues through a routing agreement with India’s Bharat Sanchar Nigam Ltd (BSNL).Sri Lanka Telecom (SLT) is on track to reap higher international call revenues through a routing agreement with India’s Bharat Sanchar Nigam Ltd (BSNL). SLT said Tuesday that it has entered into […]
Rubber tappers wages head North on boom in market prices
Workers in Sri Lanka’s rubber sector are tapping the benefits of the current price boom as a result of a Price Share Supplement (PSS) introduced in January this year in the wake of an agreement between unions and plantation management companies. Workers in Sri Lanka’s rubber sector are tapping the benefits of the current price […]
Contrary to speculations, the government says foreign aid flows are on track with Sri Lanka receiving around US$ 165 mn so far this year.
Contrary to speculations, the government says foreign aid flows are on track with Sri Lanka receiving around US$ 165 mn so far this year.Contrary to speculations, the government says foreign aid flows are on track with Sri Lanka receiving around US$ 165 mn so far this year. The bulk of the funds have come from […]
Piece of Pie
The Ceylon Electricity Board is being unbundled into Strategic Business Units for six months, with top officials being appointed to head the units next week.The Ceylon Electricity Board is being unbundled into Strategic Business Units for six months, with top officials being appointed to head the units next week. “Next week, Chief Executive Officers of […]
Blowing in the Wind
The Ceylon Electricity Board (CEB) wants to build its own wind power plant after efforts to attract a private investor failed.The Ceylon Electricity Board (CEB) wants to build its own wind power plant after efforts to attract a private investor failed. The utility is planning a 30 MW wind plant in Kalpitiya in the Puttalam […]
VIP Trouble
Central Bank officials say they will prosecute directors of the failed Pramuka Savings and Development Bank (PSDB) which is being liquidated by the regulator.Central Bank officials say they will prosecute directors of the failed Pramuka Savings and Development Bank (PSDB) which is being liquidated by the regulator. The Attorney Generals department is currently examining provisions […]
Oven Fresh
Ceylon Biscuits will expand into a bakery line in a month, even as it makes inroads with Munchee into India, dusts off old plans to go public and seriously considers real estate.Ceylon Biscuits will expand into a bakery line in a month, even as it makes inroads with Munchee into India, dusts off old plans […]
Copper Fields
Processing copper scrap for export to India is big business here in Sri Lanka. Processing copper scrap for export to India is big business here in Sri Lanka. Half a dozen companies, with Indian investment, import copper scrap, melts them and reshapes them in to bars for re-export to India where it’s used as raw […]
Oiling The Palm
Government has subsidized fuel by almost Rs.6 billion in the first 7 months of this year with the highest subsidy coming in July of Rs.1.2 billion. Government has subsidized fuel by almost Rs. 6 billion in the first 7 months of this year with the highest subsidy coming in July of Rs. 1.2 billion. Continuing […]
Perfect Storm
Sri Lankan government upped prices for petrol and diesel on midnight Friday, as hundreds of motorist queued to top up following an islandwide strike by Ceypetco’s 5,000 strong workforce.Sri Lankan government upped prices for petrol and diesel on midnight Friday, as hundreds of motorist queued to top up following an islandwide strike by Ceypetco’s 5,000 […]
Maxed Out
Ceypetco unions suspended their lightening strike late Saturday following a Presidential assurance that petroleum assets will not be privatised before getting Cabinet approval. Minister K D Lal Kantha, who also heads the JVP’s Inter Company Union said that Finance Minister Dr.Sarath Amunugama had conveyed President Chandrika Kumaratunga’s assurance that the asset sale will not go […]
Dressing Up
The Public Enterprise Reform Commission says it is working on 30 state firms which will be restructured in the coming months.rnrn Among the rnhitlist are institutions like Shell Gas, Elkaduwa Plantations and Lanka Salt, rnwhich were previously earmarked for privatisation, PERC said in its website.rn However, Sri rnLanka Telecom is a notable absentee.rn Among the […]