Category: Industry
Catching Culture
Cultural differences should not be a barrier to good advertising says a top local conglomerate. Cultural differences should not be a barrier to good advertising says a top local conglomerate. “What is acceptable and what is liked has changed completely,” says Debu Bhatnagar, director of local conglomerate Hemas Holdings Ltd, at the third LBR/LBO Adverting […]
Wrong Turn
Indian based Ashok Leyland says it plans to turn empty space at its local factory into a service centre, with as much as 50 percent of its current capacity lying idle.Indian based Ashok Leyland says it plans to turn empty space at its local factory into a service centre, with as much as 50 percent […]
Dial Up
Singapore Telecom’s local venture on Wednesday rolled out retail internet solutions, building up for potential growth in Sri Lanka’s IT market.Singapore Telecom’s local venture on Wednesday rolled out retail internet solutions, building up for potential growth in Sri Lanka’s IT market. LankaCom however says regulatory and a lack of access to fixed line operators infrastructure […]
No Room
Sri Lanka’s Ministry of Health is trying to broad base mental health treatment facilities, because mental hospitals have run out of room.Sri Lanka’s Ministry of Health is trying to broad base mental health treatment facilities, because mental hospitals have run out of room. “We are trying to open hospitals in the periphery and at least […]
Weak Signals
Fixed line giant Sri Lanka Telecom reported a 55 percent drop in its after tax profits, on the back of higher operating costs and provisions to the telecom development fund. Fixed line giant Sri Lanka Telecom reported a 55 percent drop in its after tax profits, on the back of higher operating costs and provisions […]
Guinea Pigs
State-run Bank of Ceylon has picked up the mandate to manage surplus government cash in excess of Rs. 10 billion, Treasury Secretary said Wednesday. State-run Bank of Ceylon has picked up the mandate to manage surplus government cash in excess of Rs. 10 billion, Treasury Secretary said Wednesday. The surplus funds of government corporations are […]
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 […]
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 […]
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 – […]