Category: Industry
Odd Lots
Odel, a leading up market retailer, says sales are lower this year compared to last year.Odel, a leading up market retailer, says sales are lower this year compared to last year. Retail sales are closely linked to inflation and shoppers perceptions about the way the economy is doing.Odel also depends on tourists for extra sales. […]
Bye Bye Home
The number of men and women moving to richer countries in search of better paying jobs, will increase further over the next 20 years.The number of men and women moving to richer countries in search of better paying jobs, will increase further over the next 20 years. A World Bank report says aging labour markets […]
Back Support
Dialog Telekom on Monday signed a deal worth Rs.1.8 billion to buy over Sri Lanka’s largest private communication backbone operator, MTT Networks.Dialog Telekom on Monday signed a deal worth Rs. 1.8 billion to buy over Sri Lanka’s largest private communication backbone operator, MTT Networks. Dialog Telekom on Monday signed a deal worth Rs. 1.8 billion […]
Rescue 118
Sri Lanka is testing a wireless network based emergency and disaster warning system, eleven months after the Indian Ocean tsunami killed some 40,000 coastal dwellers.Sri Lanka is testing a wireless network based emergency and disaster warning system, eleven months after the Indian Ocean tsunami killed some 40,000 coastal dwellers. Developed by Dialog Telekom and local […]
Hot Air
The Court of Appeal has ruled the Consumer Affairs Authority (CAA) cannot control Shell Gs Lanka prices by categorizing LP gas as an essential item.The Court of Appeal has ruled the Consumer Affairs Authority (CAA) cannot control Shell Gs Lanka prices by categorizing LP gas as an essential item. The court awarded the case in […]
Losing Faith
Treasury Secretary Dr P. B. Jayasundera says he has little faith in Central Bank numbers.Treasury Secretary Dr P. B. Jayasundera says he has little faith in Central Bank numbers. “I was at the Central Bank Public Finance Department and wrote these reports for 20 years.It is the same thing again and again. For us to […]
Déjà vu
Operating losses at the Ceylon Electricity Board is threatening to snowball to Rs.18 billion by year end, as costs of generation soar with no new power plants in sight. Operating losses at the Ceylon Electricity Board is threatening to snowball to Rs. 18 billion by year end, as costs of generation soar with no new […]
Adopted Kids
US based AIG Insurance shed its Rs.8.7 billion life portfolio of its Sri Lankan unit to Sri Lanka Insurance, to focus on general business, officials said Friday.US based AIG Insurance shed its Rs. 8.7 billion life portfolio of its Sri Lankan unit to Sri Lanka Insurance, to focus on general business, officials said Friday. Hayleys […]
Escape Route
Trying to squirm out of paying mounting subsidy bills, Treasury has told state oil giant Ceypetco that it is liable to pay its claims, only if it declares a loss.Trying to squirm out of paying mounting subsidy bills, Treasury has told state oil giant Ceypetco that it is liable to pay its claims, only if […]
Dead End
Sri Lanka on Thursday scrapped plans to allow free incoming calls to mobile phones, despite phenomenon success among its Asian neighbours, the telecom watchdog said.Sri Lanka on Thursday scrapped plans to allow free incoming calls to mobile phones, despite phenomenon success among its Asian neighbours, the telecom watchdog said. Mobile operators have been lobbying for […]
Secret Sauce
A US based venture capitalist says Sri Lanka has it own ‘secret sauce’ in the ICT arena and should use that to tap the US$ 100 billion global outsourcing business.A US based venture capitalist says Sri Lanka has it own ‘secret sauce’ in the ICT arena and should use that to tap the US$ 100 […]
Sri Lanka acts to boost tourism revenue
Faced with a decline in tourist spending, Sri Lanka is trying to shift away from dependence on beach lovers and budget travelers and lure more well-heeled tourists. Faced with a decline in tourist spending, Sri Lanka is trying to shift away from dependence on beach lovers and budget travelers and lure more well-heeled tourists. Hotels […]