Category: Industry
Flying High
Sri Lanka’s Commercial Bank said Monday that it posted a 50 percent growth in post tax profits for the three-months to Sept 2005.Sri Lanka’s Commercial Bank said Monday that it posted a 50 percent growth in post tax profits for the three-months to Sept 2005. Group net profit for the third quarter was Rs.827.4 million […]
IDD Nanny
Sri Lanka’s telecom watchdog will block international direct dialing (IDD) access to twelve countries from Tuesday to prevent ‘modem hijacking’ and internet scams, an official said Sunday.Sri Lanka’s telecom watchdog will block international direct dialing (IDD) access to twelve countries from Tuesday to prevent ‘modem hijacking’ and internet scams, an official said Sunday. The three […]
Want Now!
Health sector trade unions will call off their strike tomorrow (Saturday) but are threatening another disruption from November 9, if demands are not met.Health sector trade unions will call off their strike tomorrow (Saturday) but are threatening another disruption from November 9, if demands are not met. “We will stop the strike tomorrow at 7.00 […]
Poor Credit
International micro finance experts recommend that donors put the breaks on funding microfinance in Sri Lanka, as system unsustainable.International micro finance experts recommend that donors put the breaks on funding microfinance in Sri Lanka, as system unsustainable. “Given the plethora of organisations, many mushrooming more after the tsunami, we are telling donors to take a […]
Skidding Off
Sri Lanka government shelves private sector funded oil refinery project in Sapugaskanda under trade union pressure.Sri Lanka government shelves private sector funded oil refinery project in Sapugaskanda under trade union pressure. Last week, Cabinet gave the green light for a US$ 800 million oil refinery project financed by US company Global Energy Industrial Operations. Global […]
Fly Over
Sri Lanka’s Health Ministry allocates Rs 250 million as initial funding for bird-flue prevention programme. Sri Lanka’s Health Ministry allocates Rs 250 million as initial funding for bird-flue prevention programme. “The prevention programme will increase our capabilities to detect bird flue by increasing laboratory facilities and testing facilities,” said Director General of the Department of […]
Smooth Sailing
Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit.Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit. Post tax profits for the three months to Sept.30 rose to Rs. 730 million […]
False Alarm
Ceylon Petroleum Corporation trade unions say they will not go on strike over a new refinery project, pending a meeting with Premier Mahinda Rajapakse.Ceylon Petroleum Corporation trade unions say they will not go on strike over a new refinery project, pending a meeting with Premier Mahinda Rajapakse. “We objected because we were not fully aware […]
Going Somewhere?
Sri Lanka among Asian countries most affected by brain drain, says World Bank study.Sri Lanka among Asian countries most affected by brain drain, says World Bank study. Sri Lanka among countries that see a relatively large proportion of educated people migrating in search of greener pastures, says latest World Bank study on international migration. Although […]
Monitor Mission
EU election monitors in Sri Lanka to keep an eye on November Presidential elections.EU election monitors in Sri Lanka to keep an eye on November Presidential elections. “The European Commission is deploying an EU Election Observation Mission (EOM) for the presidential election scheduled to take place on 17 November following an invitation from the Government […]
Light Sentence
Sri Lanka’s insurance watchdog is asking market players to develop more products to cover against natural perils after last year’s tsunami left behind US$ 130 million worth of claims.Sri Lanka’s insurance watchdog is asking market players to develop more products to cover against natural perils after last year’s tsunami left behind US$ 130 million worth […]
Serious Business
Sri Lanka President Chandrika Kumaratunga Tuesday set up a ministry to exploit the island nation’s petroleum potential and named herself as its minister, a government statement said.Sri Lanka President Chandrika Kumaratunga Tuesday set up a ministry to exploit the island nation’s petroleum potential and named herself as its minister, a government statement said. Kumaratunga’s office […]