Category: Industry
Lost Cause
Sri Lanka as of end-September had utilised less than a tenth of the loans and a quarter of the grants offered by foreign donors since last year’s unprecedented tsunami disaster, a top official said Friday.Sri Lanka as of end-September had utilised less than a tenth of the loans and a quarter of the grants offered […]
More Money
The World Bank on Thursday approved a US0 million package of assistance to develop Sri Lanka’s roads and education.The World Bank on Thursday approved a US$160 million package of assistance to develop Sri Lanka’s roads and education. Up to US0 million credit from World Bank’s International Development Association (IDA) will finance development of national road […]
Busting Flour
India has agreed to amend a 2002 US$ 31 million wheat grain credit line to Sri Lanka, allowing the island to import busses instead.India has agreed to amend a 2002 US$ 31 million wheat grain credit line to Sri Lanka, allowing the island to import busses instead. Cabinet spokesperson Anura Priyadarshana Yapa told reporters on […]
Fire Alarm
A fire broke out at the Kukule Hydropower station late Thursday night due to a suspected technical fault, damaging one of the two 40 MW generators. A fire broke out at the Kukule Hydropower station late Thursday night due to a suspected technical fault, damaging one of the two 40 MW generators. The fire was […]
Trunk Call
Sri Lanka’s John Keells Holdings has entered into partnership with India’s Raman Roy & Associates to develop a US$ 22 million call centre business in the Asian region, a joint communiqué said Wednesday. Sri Lanka’s John Keells Holdings has entered into partnership with India’s Raman Roy & Associates to develop a US$ 22 million call […]
Coin Collection
Sri Lanka’s Central Bank says it will save over Rs.600 million in minting costs as it gives a face lift to the island’s coin collection. Sri Lanka’s Central Bank says it will save over Rs. 600 million in minting costs as it gives a face lift to the island’s coin collection. Wednesday, Colombo : A […]
Co-op Capital
Sri Lanka’s Cooperative Leasing took its first tentative steps into the capital markets on Tuesday by pledging its tiny portfolio to raise cash for future funding needs.Sri Lanka’s Cooperative Leasing took its first tentative steps into the capital markets on Tuesday by pledging its tiny portfolio to raise cash for future funding needs. The two-year […]
Short Flight
Three local airlines are on a six-month test run to India for a licence to fly international, but sentiments are mixed, with some fearing a crowded airspace.Three local airlines are on a six-month test run to India for a licence to fly international, but sentiments are mixed, with some fearing a crowded airspace. Last week, […]
Watch Out!
As banks embrace sophisticated financial products, making their risk profile more complex, those specialising in custodian and asset management, are most vulnerable to future operational risks, a top Central Bank official said Monday.As banks embrace sophisticated financial products, making their risk profile more complex, those specialising in custodian and asset management, are most vulnerable to […]
New Track
A solution to Colombo’s commuter traffic could have to wait till mid 2006, when a Japan funded urban transport master plan is completed.A solution to Colombo’s commuter traffic could have to wait till mid 2006, when a Japan funded urban transport master plan is completed. The newly minted New Railroad Development Ministry has been charged […]
All at Sea
The Colombo port will run out of capacity in three years if new terminals are not ready according to a former port chairman.The Colombo port will run out of capacity in three years if new terminals are not ready according to a former port chairman. He said that running out of capacity will mean that […]
Cutting the Wires
Fixed line giant Sri Lanka Telecom together with international chipmaker Intel Corp., will deploy a high speed wireless internet network, with a test service already in operation.Fixed line giant Sri Lanka Telecom together with international chipmaker Intel Corp., will deploy a high speed wireless internet network, with a test service already in operation. Telecom chief […]