Category: Industry
Open Gate
BRUSSELS, Dec 21 (AFP) – The European Commission said Wednesday that it had granted duty and quota-free access to 7,200 imports from 15 developing countries.BRUSSELS, Dec 21 (AFP) – The European Commission said Wednesday that it had granted duty and quota-free access to 7,200 imports from 15 developing countries. The countries to benefit from the […]
Gobble Gobble
National Development Bank (NDB) on Tuesday said it was seeking Central Bank approval to merge with its housing loan financing unit.National Development Bank (NDB) on Tuesday said it was seeking Central Bank approval to merge with its housing loan financing unit. If approved, the merger will give NDB housing access to cheap financing for its […]
Fuel to the Fire
Shares in retail fuel giant Lanka IOC Ltd., were suspended Tuesday, as the firm grapples with working capital constraints.Shares in retail fuel giant Lanka IOC Ltd., were suspended Tuesday, as the firm grapples with working capital constraints. A Colombo Stock Exchange spokesperson told LBO the stock was suspended pending a clarification from the Indian fuel […]
Moving Parts
Lanka IOC said it is proceeding forward with plan to set up a lubrication blending plant in Trincomalee despite working capital constraints in its fuel retailing business.Lanka IOC said it is proceeding forward with plan to set up a lubrication blending plant in Trincomalee despite working capital constraints in its fuel retailing business. Lubed Up […]
Max Plans
Fixed line giant Sri Lanka Telecom on Monday signed up US based Aperto Networks and Canada’s SR Telecom to deploy a test wireless broadband solution. Fixed line giant Sri Lanka Telecom on Monday signed up US based Aperto Networks and Canada’s SR Telecom to deploy a test wireless broadband solution. The WiMAX network is due […]
Open Doors
DHAKA, Dec 19 (AFP) – Seven South and Southeast Asian nations are set to launch a goods free trade agreement from July 2006, which promises to generate additional trade worth 40 billion dollars, Bangladesh’s Foreign Minister Morshed Khan said on Monday.DHAKA, Dec 19 (AFP) – Seven South and Southeast Asian nations are set to launch […]
Seafarers
The Colombo port is perceived to be the least advantages among four regional ports surveyed by the former SLPA Chairman.The Colombo port is perceived to be the least advantages among four regional ports surveyed by the former SLPA Chairman. Former SLPA Chairman and current Aitken Spence Shipping chief Dr.Parakrama Dissanayake told a seminar on trade […]
Bottomless Pit
Only 20 percent of grants and loans to rebuild after the Tsunami have been used by the government in the first year after the disaster. Only 20 percent of grants and loans to rebuild after the Tsunami have been used by the government in the first year after the disaster. It would take five and […]
What Next?
Poor management and labor issues are bigger challenges for apparel exporters from Sri Lanka than the phase out of quotas for garments earlier in the year according to an NGO. Poor management and labor issues are bigger challenges for apparel exporters from Sri Lanka than the phase out of quotas for garments earlier in the […]
Canada reaches out to help small hotel operator
Hotel operators are benefiting from expert advice from a Canadian non-profit organization that is volunteering to help developing countries grow through potential sectors like tourism and SMEs. Hotel operators are benefiting from expert advice from a Canadian non-profit organization that is volunteering to help developing countries grow through potential sectors like tourism and SMEs. A […]
People Power
People’s Bank is expecting a Rs.2 billion capital injection in the next couple of weeks after meeting important performance criteria. People’s Bank is expecting a Rs. 2 billion capital injection in the next couple of weeks after meeting important performance criteria. An Asian Development Bank (ADB) team that reviewed the bank’s performance last week said […]
Red Hot
Linux based software giant Red Hat says setting up office here has helped gain access to lucrative government contracts.Linux based software giant Red Hat says setting up office here has helped gain access to lucrative government contracts. Red Hat India’s Business Manager for Sri Lanka, Amal R Dias on Friday said that since the open-source […]