Category: Industry
Spring Cleaning
The United States said Tuesday it is funding the clean up of tsunami debris from a lagoon in eastern Sri Lanka, which is known among locals for its singing fish.The United States said Tuesday it is funding the clean up of tsunami debris from a lagoon in eastern Sri Lanka, which is known among locals […]
Agriculture support services makeup over half of rural GDP
An ADB/World Bank study has found that agriculture support services makeup over half of rural GDP and household incomes. An ADB/World Bank study has found that agriculture support services makeup over half of rural GDP and household incomes. The previously overlooked non-agro sector which included transport and trading activities is estimated to contribute as much […]
Final Call
The Asian Development Bank rapped Sri Lanka on Monday for dragging its feet on key electricity reforms, even as the Premier held crucial reform talks with warring trade unions.The Asian Development Bank rapped Sri Lanka on Monday for dragging its feet on key electricity reforms, even as the Premier held crucial reform talks with warring […]
Same Story
MULLAITIVU, Sri Lanka (AFP) – Six months after the tsunamis battered Sri Lanka’s shores, people in this remote eastern village under the control of Tiger rebels have yet to see any sign of reconstruction. MULLAITIVU, Sri Lanka (AFP) – Six months after the tsunamis battered Sri Lanka’s shores, people in this remote eastern village under […]
Coastal buffer zones keep tsunami survivors at bay
HIKKADUWA, Sri Lanka,(AFP) – The waterfront restaurant at the entrance to this Sri Lankan coral sanctuary survived the Asian tsunami but six months later its owner is struggling to keep his nose above water because a new “buffer zone” law prevents him from rebuilding.HIKKADUWA, Sri Lanka,(AFP) – The waterfront restaurant at the entrance to this […]
Bitter Pill
Sri Lanka’s ongoing political instability, poor infrastructure and limited access to capital are choking the country’s investment climate, a joint study by the Asian Development Bank and World Bank said.Sri Lanka’s ongoing political instability, poor infrastructure and limited access to capital are choking the country’s investment climate, a joint study by the Asian Development Bank […]
Speak Now, Or…
Notice of proposed electricity price increases will be out for public comment next week, says the Ceylon Electricity Board (CEB).Notice of proposed electricity price increases will be out for public comment next week, says the Ceylon Electricity Board (CEB). “We sent the gazette notice to print.So it should be out early next week,” said CEB […]
Aid Risk
Risk factors like the tsunami with large numbers of displaced in makeshift shelters, is threatening to grow Sri Lanka’s low HIV infection rate, the United Nation warns.Risk factors like the tsunami with large numbers of displaced in makeshift shelters, is threatening to grow Sri Lanka’s low HIV infection rate, the United Nation warns. Mounting poverty […]
More Money
Senkadagala Finance raised Rs. 150 mn in fresh funds through a higher-purchase receipts backed debenture.Senkadagala Finance raised Rs. 150 mn in fresh funds through a higher-purchase receipts backed debenture. The private placement, structured by Investec Capital, is in line with Senkadagala Finance’s strategy to mobiles a larger part of its funds from low cost sources. […]
Got It
Hatton National Bank (HNB), on Wednesday confirmed obtaining a listing on the Luxembourg Stock Exchange for its Global Depository Receipts (GDR) issue.Hatton National Bank (HNB), on Wednesday confirmed obtaining a listing on the Luxembourg Stock Exchange for its Global Depository Receipts (GDR) issue. Through this listing HNB will place 1,766,470 GDRs in Luxembourg at an […]
Insuring Sampath
Sampath Bank is considering an insurance subsidiary, pushing the service through its branch network.Sampath Bank is considering an insurance subsidiary, pushing the service through its branch network. The bank’s Managing Director Anil Amarasuriya on Wednesday said that the projects was in its conceptual stage and would need approval from its board of directors along with […]
Sowing SEEDS
Government sponsored welfare schemes like Samurdhi promise to help thousands jump the poverty trap. But experts say welfare systems alone, won’t eradicate poverty. Micro finance institutions, however, have had better success. Government sponsored welfare schemes like Samurdhi promise to help thousands jump the poverty trap. But experts say welfare systems alone, won’t eradicate poverty. Micro […]