Category: Industry
Bursting Point
February 16, 2007 (LBO) — SriLankan Airlines says it is running out of cargo space at Colombo’s international airport, while a newly-built facility lies empty over a rent dispute.The issue is likely to remain a sticky point as the government drags its feet to over the renewal of SriLankan’s management agreement with Emirates which is […]
Renewed Deal
February, 15 (LBO) – Sri Lanka is to shortly unveil a new tiered tariff framework for renewable energy suppliers giving existing mini-hydros windfall sweeteners to change-over, officials said. Sri Lanka would be offering cost-based technology-specific and three-tiered tariffs for mini-hydro, biomass and wind energy. Mini-hydro standardized power purchase agreements already signed with the Ceylon Electricity […]
IT Aid
Feb 15, 2007 (LBO) – Sri Lanka’s software developers will get cash incentives to develop software that can make small enterprises more efficient, or modernize export industries and tourism, officials said. œThe initial boost provided through these innovation grants will be just the beginning of a much wider involvement both from the government and the […]
Calling Asia
BARCELONA, Spain, Feb 15, 2007 (AFP) – With mobile phone markets nearly saturated in the developed world, network operators and handset manufacturers are turning their attention to the fertile ground of emerging countries. Making affordable phones and targeting consumers with smaller budgets have now become priorities for the largest companies in the sector who were […]
Cutting Duds
February 15 (LBO) – Sri Lanka financial authorities are clamping down on cheque returns with the help of a newly commissioned digital clearing system, officials said. “We have already cut down the proportion of cheques to less than half of what it was,” says Anura de Silva who heads, LankaClear, Sri Lanka’s central cheque clearing […]
Pension Penetration
February 15 (LBO) – Life Insurance Corporation Lanka is breaking into the untapped pension market in the country offering a long-term product that pays an annuity.“There is a large ageing population in the country,” LIC Lanka General Manager S S Mathiapanan said. “The joint family system in our culture is breaking down, children are in […]
Hydro Cash
February 14 (LBO) – Sri Lanka’s national power utility has raised the tariff for existing mini-hydro plants by about 19 percent during the crucial wet season, when most of the power is generated. Colombo Stock Exchange has two listed mini-hydro plants, Vallibel Power Eratne and Vidullanka, whose margins are expected to improve with the new […]
Dravid helps India level Sri Lanka series
GOA, India, Feb 14, 2007 (AFP) – Rahul Dravid became the sixth batsman in history to reach 10,000 one-day runs as he steered India to a series-levelling five-wicket win over Sri Lanka on Wednesday. Dilshan and Arnold rebuilt again in the middle overs before Harbhajan had Dilshan caught at the wicket in the 42nd over […]
Easy Customs
Feb 14 (LBO) – Traders and businessmen could easily navigate through Sri Lanka’s plethora of taxes and customs regulations, through a single searchable database being rolled out for public use in March, officials said. The new database will hold all of the country’s customs regulations, related laws, taxes and other levies as well as preferential […]
Mango Friends
February 14 (LBO) – Former tourism Anura Bandaranaike may come back to the government with the aviation portfolio, a senior government minister said. vimasuma.com Newsdesk Updated . Bandaranaike Wednesday met President Rajapakse in the company of Minister Dinesh Gunewardene and Western Province Governor Alavi Moulana a spokesman from the presidential secretariat said. The meeting was […]
Hedge Start
Feb 14, 2007 (LBO) – Sri Lanka has stepped into the murky world of futures and options by hedging part of its future oil payments for March, Ceylon Petroleum Corporation Chairman said Wednesday.The national oil company signed off an option collar for 150,000 barrels of oil at a strike price of 70 dollars with Standard […]
Price Tactics
February, 13 (LBO) – Ceylon Petroleum Corporation will hold fuel prices steady this month with the help of a tax cut on petrol, a top official said. The CPC is expecting a 5 rupee temporary lifting of excise duty on a litre of petrol, CPC Chairman Ashantha de Mel said. The CPC would have made […]