Category: Industry
Sinking
Ceylon Electricity Board (CEB) wants government to support consumer subsidies as part of a plan to stop losing large sums of money every day.Ceylon Electricity Board (CEB) wants government to support consumer subsidies as part of a plan to stop losing large sums of money every day. Monopoly electricity supplier the CEB is selling power […]
Falling Short
Revenue projections for last year will be missed although total government revenue is 19 percent higher in the first 11 months of the last year.Revenue projections for last year will be missed although total government revenue is 19 percent higher in the first 11 months of the last year. However, cashflow difficulties were forcing the […]
A Shot in the Arm
People’s Bank got Rs. 2 billion cash injection from the government last week.People’s Bank got Rs. 2 billion cash injection from the government last week. It was the start of the bank’s third recapitalization exercise and the first time it had a cash injection. On previous two occasions the government put non-tradable bonds to strengthen […]
Next G
An industry response report on issuing Sri Lanka’s first commercial 3G mobile license is expected before end January.An industry response report on issuing Sri Lanka’s first commercial 3G mobile license is expected before end January. The report is based on responses from the sector to a consultation on spectrum allocation for third generation mobile service […]
Peace Times
WASHINGTON, Jan 6, 2006 (AFP) – Sri Lanka’s Foreign Minister Mangala Samaraweera said Thursday that his government did not want a war with the Tamil Tigers and appealed to the rebels to be flexible, return to the negotiating table and jointly strengthen a Norwegian-backed ceasefire.WASHINGTON, Jan 6, 2006 (AFP) – Sri Lanka’s Foreign Minister Mangala […]
Banking on CEPA
Sri Lankan banks considering collective entry into the Indian financial sector, using the Indo-Lanka CEPA.Sri Lankan banks considering collective entry into the Indian financial sector, using the Indo-Lanka CEPA. “The banks feel the most advantageous way of penetrating the Indian market is by forming a conglomerate of the top four private banks,” said Upali de […]
Card Busters
Sri Lanka’s cabinet of Ministers agreed to adopt a draft bill dealing with transaction devices including ATM and credit cards this week.Legal Draftsman Therese Perera on Friday said that the bill was near finalization, with only a component dealing with information technology pending. “We are working with the ICT Agency to make sure the legislation […]
Paperless Flight
By the second quarter this year, SriLankan Airlines says it will roll out E-ticketing through its network of travel agents, expanding current sales of its pilot project.By the second quarter this year, SriLankan Airlines says it will roll out E-ticketing through its network of travel agents, expanding current sales of its pilot project. SriLankan Airlines […]
Eagle’s Nest
US courier giant Federal Express Corp (Fedex) Thursday raised their profile in Sri Lanka by formally announcing a partnership with conglomerate, the Hayleys Group.US courier giant Federal Express Corp (Fedex) Thursday raised their profile in Sri Lanka by formally announcing a partnership with conglomerate, the Hayleys Group. Fedex, currently commands the second slot in Sri […]
Under fire
Reporters Without Borders has charged the Maldivian government of repeatedly manipulating Interpol after ten Sri Lankan police officers raided the Colombo premises of an exile radio station and website, radio Minivan and Minivannews.com, on 28 December. Reporters Without Borders has charged the Maldivian government of repeatedly manipulating Interpol after ten Sri Lankan police officers raided […]
Rescue Services
UK’s Begbies Traynor Thursday teamed up with Sri Lanka’s Capital Reach Holdings to form the island’s first business turnaround and rescue services, officials said. UK’s Begbies Traynor Thursday teamed up with Sri Lanka’s Capital Reach Holdings to form the island’s first business turnaround and rescue services, officials said. The new entity, BT CapReach, will work […]
‘s Nest
US courier giant Federal Express Corp (Fedex) Thursday raised their profile in Sri Lanka by formally announcing a partnership with conglomerate, the Hayleys Group.US courier giant Federal Express Corp (Fedex) Thursday raised their profile in Sri Lanka by formally announcing a partnership with conglomerate, the Hayleys Group. Fedex, currently commands the second slot in Sri […]