Category: Industry
Next Stop
An August 01 railway fare hike will cut the commuter service’s losses by an estimated Rs.500 mn, but increasing recurrent costs could keep losses high. An August 01 railway fare hike will cut the commuter service’s losses by an estimated Rs. 500 mn, but increasing recurrent costs could keep losses high. Railway’s General Manager Priyal […]
Laughing Gas
Laugfs Gas will cut Rs. 101 off its 12.5 kg retail cylinder price, after the Govt., last week removed the 15% VAT Value Added Tax) on Liquid Petroleum Gas (LPG).Laugfs Gas will cut Rs. 101 off its 12.5 kg retail cylinder price, after the Govt., last week removed the 15% VAT Value Added Tax) on […]
Tighten Belts
Asia will feel the weight of economic adjustments in China and the US, warns Asian banking giant HSBC.Asia will feel the weight of economic adjustments in China and the US, warns Asian banking giant HSBC. Addressing the local business community in Sri Lanka, HSBC’s chief economist for the Asia Pacific region, Arup Raha said monetary […]
Re-dial
Dialog on Tuesday tapped HSBC for a Rs. 2.46 bn five year loan to pay back its Malaysian parent. Dialog on Tuesday tapped HSBC for a Rs. 2.46 bn five year loan to pay back its Malaysian parent. The loan carries a SLIBOR +1.4 percent interest payable over the five year period in equal semi […]
Foggy Policies
Slow port development is the threat to the local economy, not Sethusamudram, say local ship agents.Slow port development is the threat to the local economy, not Sethusamudram, say local ship agents. “Sethusamudram is not a threat to the Colombo port, if the Colombo South port, behind SAGT, is ready by 2009,” said Chairman of the […]
Quick Fire
Prudential Assurance Ltd, is hoping its inhouse expertise to structure financial packages, will help gain a toe into Sri Lanka’s competitive insurance market.Prudential Assurance Ltd, is hoping its inhouse expertise to structure financial packages, will help gain a toe into Sri Lanka’s competitive insurance market. Prudential – no connection to the international insurance giant – […]
Counting Chickens?
State-run Bank of Ceylon is negotiating with the Treasury to re-price Rs.9.3 billion worth of government bonds which come up for renewal next year.State-run Bank of Ceylon is negotiating with the Treasury to re-price Rs. 9.3 billion worth of government bonds which come up for renewal next year. The fixed rate bonds were issued to […]
Bad Line
The proposed caller party pays (CPP) interconnection regime continues to receive negative feedback as the regulator hears public opinion on the issue this week.The proposed caller party pays (CPP) interconnection regime continues to receive negative feedback as the regulator hears public opinion on the issue this week. A series of three public hearing will end […]
Dialing Now
Incumbent fixed line operator Sri Lanka Telecom says it could be issued with a CDMA wilress services license as early as Thursday. Incumbent fixed line operator Sri Lanka Telecom says it could be issued with a CDMA wilress services license as early as Thursday. Telecom Chairman Anil Obeyesekere told reporters in Colombo on Tuesday that […]
‘N Play
Suntel Ltd., a unit of Sweden’s Overseas Telecom AB, has launched a pre-paid fixed line service with an eye to tap the low and middle income segments, officials said Tuesday.Suntel Ltd., a unit of Sweden’s Overseas Telecom AB, has launched a pre-paid fixed line service with an eye to tap the low and middle income […]
Plug ‘N Play
Suntel Ltd., a unit of Sweden’s Overseas Telecom AB, has launched a pre-paid fixed line service with an eye to tap the low and middle income segments, officials said Tuesday.Suntel Ltd., a unit of Sweden’s Overseas Telecom AB, has launched a pre-paid fixed line service with an eye to tap the low and middle income […]
Hoteliers and inbound tour operators say tourism industry in dire straits
Tourism authorities say tourist numbers to the island are increasing but hoteliers and inbound tour operators say the industry is in dire straits.Tourism authorities say tourist numbers to the island are increasing but hoteliers and inbound tour operators say the industry is in dire straits. According to Tourist Board statistics tourist arrivals increased 35 percent […]