Category: Industry
Corporate Funding
United States Trade and Development Agency (USTDA) signs over grants worth US$ 2.5 million for Sri Lanka. United States Trade and Development Agency (USTDA) signs over grants worth US$ 2.5 million for Sri Lanka. On Monday the USTDA signed over grant funding for six development projects in Sri Lanka. Over US$ 2 million is for […]
Norachcholai Tripped?
CEB engineers have sought assurances from UNP that a proposed coal power plant in Puttlam won’t be scraped as its board of directors objected to the General Manager taking the lead on the project.CEB engineers have sought assurances from UNP that a proposed coal power plant in Puttlam won’t be scraped as its board of […]
Sharp Edge
The Association of Charted Certified Accountants (ACCA) said their national conference will take place later this month.The Association of Charted Certified Accountants (ACCA) said their national conference will take place later this month. ACCA hosted a sustainability awards earlier in the year to reward CSR reporting among top corporate which they say encouraged them to […]
On the Road
Cabinet this week approved US$ 310 million in donor funding to reconstruct 1137 kilometers of road and 25 major bridges in the tsunami affected coastal regions of Sri Lanka.Cabinet this week approved US$ 310 million in donor funding to reconstruct 1137 kilometers of road and 25 major bridges in the tsunami affected coastal regions of […]
Tax Watcher
The Finance Ministry on Thursday appointed former Supreme Court Judge Maxwell Parakrama Paranagama as Sri Lanka’s first tax ombudsman.The Finance Ministry on Thursday appointed former Supreme Court Judge Maxwell Parakrama Paranagama as Sri Lanka’s first tax ombudsman. A Ministry statement said the appointment was in keeping with the 2005 budget proposal to appoint an independent […]
No Thanks
Sri Lankans are increasingly bombarded with a plethora of financial products and services, but locals still shy away from the capital markets for their monetary needs, a Central Bank led consumer finance survey has highlighted.Sri Lankans are increasingly bombarded with a plethora of financial products and services, but locals still shy away from the capital […]
Losing Interest
Power generation company Lakdhanavi Limited will de-list from the Colombo Stock Exchange, after it listed four years ago to be eligible to bid for a power project. A fully owned subsidiary of Lanka Transformers, Lakdhanavi says its shares have not been traded since and its shareholders no longer want it to be publicly held. “We […]
Safe Landings
Domestic airlines will raise fares to Jaffna by Rs.2000, as almost all international airlines flying out of Colombo also slap on further fuel surcharges on Thursday.Domestic airlines will raise fares to Jaffna by Rs. 2000, as almost all international airlines flying out of Colombo also slap on further fuel surcharges on Thursday. Local airline regulator, […]
Oiling Trade
Saudi Arabia agrees to cut import duties and open its agriculture, goods and services markets, including oil markets, to the US. Saudi Arabia agrees to cut import duties and open its agriculture, goods and services markets, including oil markets, to the US. The owner of a quarter of the world’s known oil reserves made its […]
Indian Linkage
Sri Lanka Telecom on Monday signed a US$ 3 mn deal with India’s BSNL and technology giant NEC to set up a point to point fiber optic link between the two countries.Sri Lanka Telecom on Monday signed a US$ 3 mn deal with India’s BSNL and technology giant NEC to set up a point to […]
Pick Up Lines
Sri Lanka Telecom’s mobile subsidiary on Monday said it was repackaging its IDD rates to better cater to its customer base.Sri Lanka Telecom’s mobile subsidiary on Monday said it was repackaging its IDD rates to better cater to its customer base. A Mobitel statement on Monday said customer could choose between a high clarity premium […]
Paper Trail
A new ticketing system for airlines and travel agents will kick off in October this year, cutting the long paper trail between agents and airlines A new ticketing system for airlines and travel agents will kick off in October this year, cutting the long paper trail between agents and airlines Instead of individual ticket formats […]