Category: Industry
Hidden Agenda?
A Saudi Arabian investor has sought permission to raise his stakes in Commercial Bank of Ceylon, as key shareholders try to oust the bank’s present Chairman.A Saudi Arabian investor has sought permission to raise his stakes in Commercial Bank of Ceylon, as key shareholders try to oust the bank’s present Chairman. Saudi Arabia’s Euro Gulf […]
Crowded Booth
Industry watchers say up to ten fixed line phone operators could be battling it out for a piece of Sri Lankan telecom market by 2006.Industry watchers say up to ten fixed line phone operators could be battling it out for a piece of Sri Lankan telecom market by 2006. In addition to Suntel, Lanka Bell […]
Change or Die
Chronic diseases are giving heart attacks to low and middle income economies like Sri Lanka, says the World Health Organisation(WHO).Chronic diseases are giving heart attacks to low and middle income economies like Sri Lanka, says the World Health Organisation(WHO). Chronic diseases are the leading cause of death in the world and the death toll is […]
Few Options
Ceylinco Insurance has launched investment linked life plans which will gives policyholders the option of directing where his life funds would be invested.Ceylinco Insurance has launched investment linked life plans which will gives policyholders the option of directing where his life funds would be invested. Ceylinco Shilpa is a child education policy and Ceylinco Retirement […]
Minimum Pay
Sri Lanka has imposed a minimum US$ 150 wage per month for foreign employment, with effect from October 01.Sri Lanka has imposed a minimum US$ 150 wage per month for foreign employment, with effect from October 01. The legislated increase missed two earlier deadlines in January and June 2005 on lobbying from recruitment agencies. The […]
Pay Later
Sri Lanka plans to spend more and borrow further next year as expenses for defence and fuel related subsidies escalate.Sri Lanka plans to spend more and borrow further next year as expenses for defence and fuel related subsidies escalate. Total state spending will rise 30 percent to Rs.568.3 billion (US$ 5.6 billion) in 2006 from […]
Lets be Friends
Sri Lankan tax payers are fighting shy of official recognition as good tax payers. Sri Lankan tax payers are fighting shy of official recognition as good tax payers. In May this year the government offered to officially recognise ‘good tax payers’ to coax more taxes out of Sri Lanka’s unusually tax averse population. “We announced […]
Falling Flight
Fuel surcharges by airlines may finally be putting a drag on demand, as passenger numbers and cargo volumes slow in August on the back of high oil prices.Fuel surcharges by airlines may finally be putting a drag on demand, as passenger numbers and cargo volumes slow in August on the back of high oil prices. […]
Bomb Hoax
A bomb scare forced a London-bound Sri Lankan Airlines plane to return to the island’s only international airport here 40 minutes after take off Monday, an official said. A bomb scare forced a London-bound Sri Lankan Airlines plane to return to the island’s only international airport here 40 minutes after take off Monday, an official […]
Et Tu Brute?
United National Party (UNP) said last week they would recommence work to build a thermal power station at Kerewelapitiya abandoning the west coast coal power plant option.United National Party (UNP) said last week they would recommence work to build a thermal power station at Kerewelapitiya abandoning the west coast coal power plant option. Government, that […]
Sri Lankan tourism dented by image put out from aid agencies
Efforts by relief agencies to raise funds to help rebuild Sri Lanka’s tsunami-battered coastlines by projecting images of massive destruction have backfired on the island’s tourism industry. Efforts by relief agencies to raise funds to help rebuild Sri Lanka’s tsunami-battered coastlines by projecting images of massive destruction have backfired on the island’s tourism industry. Tourists […]
You Give We Spend
Sri Lanka’s top Treasury official says the country will not accept debt relief next year, unless it is given without strings.Sri Lanka’s top Treasury official says the country will not accept debt relief next year, unless it is given without strings. Treasury Secretary Dr. P B Jayasundera who asked top lenders to extend debt relief […]