Category: Industry
It Wasn’t Me
A Sri Lankan airforce spy plane crashed inside rebel-held territory in the island’s north Wednesday, military sources said. A Sri Lankan airforce spy plane crashed inside rebel-held territory in the island’s north Wednesday, military sources said. The operators lost control over the Unmanned Aerial Vehicle (UAV) while on a mission over territory held by the […]
China Calls
China’s ZTE Corporation clinched a Rs.1.5 billion deal to deploy a low cost wireless technology system for Sri Lanka Telecom.China’s ZTE Corporation clinched a Rs. 1.5 billion deal to deploy a low cost wireless technology system for Sri Lanka Telecom. CDMA or code division multiple access, is a cheaper form of mobile technology that is […]
New laws to revamp the Tourist Board gets Parliament nod
After two years on the shelf, a new law to revamp the Tourist Board was passed in Parliament on Tuesday, with reforms to kick in over the next few weeks.After two years on the shelf, a new law to revamp the Tourist Board was passed in Parliament on Tuesday, with reforms to kick in over […]
Freak Accident
An Indonesian woman passenger was killed and six injured Sunday in a freak accident while disembarking from an SriLankan airlines aircraft at the island’s only international airport, a spokesman said.An Indonesian woman passenger was killed and six injured Sunday in a freak accident while disembarking from an SriLankan airlines aircraft at the island’s only international […]
Good Boy
The Asian share of the global environmental services is still small but its growth rate is picking up The Asian share of the global environmental services is still small but its growth rate is picking up Meanwhile rising oil prices is also creating a demand for energy efficient technologies. But this will not happen if […]
Groovy Tunes
Sri Lanka Telecom plans to roll out its fixed-line CDMA network by the end of the month and test delivery of services such as on-demand video on its copper-line network this year, a company official said Friday.Sri Lanka Telecom plans to roll out its fixed-line CDMA network by the end of the month and test […]
Ceylon Index
A new index fund hopes to capture the gains of Asia’s best performing bourse, with a top ten stock index that accounts for over half of market capitalisation in the local exchange.A new index fund hopes to capture the gains of Asia’s best performing bourse, with a top ten stock index that accounts for over […]
Right On
Merchant Bank of Sri Lanka posted a 74 percent rise in its net profits at Rs 136.4 million for the first nine months of 2005.Merchant Bank of Sri Lanka posted a 74 percent rise in its net profits at Rs 136.4 million for the first nine months of 2005. Close to half the nine months […]
Sniper Fire
Commercial Bank of Ceylon Ltd.’s Chairman has sought regulators blessings to ask DFCC Bank reduce its stakes in the former to be within limits allowed under the present Banking Act.Commercial Bank of Ceylon Ltd.’s Chairman has sought regulators blessings to ask DFCC Bank reduce its stakes in the former to be within limits allowed under […]
Bills Online
Ceylinco Group Chairman Lalith Kotelawala on Friday appealed to the Central Bank to loosen its grip on the banking sectors’ expansion plans.Ceylinco Group Chairman Lalith Kotelawala on Friday appealed to the Central Bank to loosen its grip on the banking sectors’ expansion plans. Kotelawala said the requirement for Central Bank approval for every new branch […]
Re-Audit
The government says it will make legal changes to give more teeth to the Auditor General.The government says it will make legal changes to give more teeth to the Auditor General. The government this week, approved a proposal to restructure the Auditor General’s Department, giving it greater administrative and financial independence. A government official on […]
Sailing South
The government this week signed over a US$ 87 million tender to a Chinese firm to build the proposed Hambantota tank farm and bunkering facility. The government this week signed over a US$ 87 million tender to a Chinese firm to build the proposed Hambantota tank farm and bunkering facility. Project officials at the Shipping […]