Category: Industry
Tourist arrivals still driven by South Asia
Tourist arrivals to Sri Lanka, from traditional bread and butter markets of Western Europe, showed signs of picking up in the month of June.Tourist arrivals to Sri Lanka, from traditional bread and butter markets of Western Europe, showed signs of picking up in the month of June. Tourists to Sri Lanka increased by 42.3 percent […]
Extended Talk Time
Mobile operator Celltel Lanka is luring its pre-paid customers with steep discounts to call selected overseas destinations.Mobile operator Celltel Lanka is luring its pre-paid customers with steep discounts to call selected overseas destinations. Starting July 25, Celltel users will be charged Rs. 11 (peak) and Rs. 8 (off peak) on foreign outgoing calls. The tariffs […]
Seeing Red
Linux server and desktop operating systems developer Red Hat says it is ready to take on the Sri Lankan market with a Sinhalese version expected in 2006.Linux server and desktop operating systems developer Red Hat says it is ready to take on the Sri Lankan market with a Sinhalese version expected in 2006. Work on […]
Blank Cheques
Telecom operators are holding back on June payment to the telecom development fund (TDF) after Sri Lanka Telecom held back payments for some 18 month.Telecom operators are holding back on June payment to the telecom development fund (TDF) after Sri Lanka Telecom held back payments for some 18 month. It is understood that as of […]
Sri Lanka to sell Hilton hotel stake
Sri Lanka’s government plans to sell a stake in the Hilton Colombo, the only five-star business hotel in the capital, to help fund its budget, a hotel official said Monday.Sri Lanka’s government plans to sell a stake in the Hilton Colombo, the only five-star business hotel in the capital, to help fund its budget, a […]
Travelling Light
Emirates Airlines has opened a visa processing centre at its Colombo city office, for the convenience of Sri Lankans travelling or transiting through Dubai.Emirates Airlines has opened a visa processing centre at its Colombo city office, for the convenience of Sri Lankans travelling or transiting through Dubai. Sri Lankans travelling on Emirates Airlines from Colombo […]
Setting Sail
Maritime Holdings Limited (MHL), adopts a new corporate identity this week, in an initiative to encapsulate and project its unique and multi-sectoral capabilities, growth potential and corporate lineage.Maritime Holdings Limited (MHL), adopts a new corporate identity this week, in an initiative to encapsulate and project its unique and multi-sectoral capabilities, growth potential and corporate lineage. […]
Learning Facts
The tertiary education system in the country got a much-needed financial push for development with a US$ 60 million grant from the World Bank. The tertiary education system in the country got a much-needed financial push for development with a US$ 60 million grant from the World Bank. Country director for World Bank, Peter Harrold […]
Lending for SriLankan
A consortium of local banks sealed a deal with SriLankan Airlines for a full dollar loan of US$ 22.5 million this week. A consortium of local banks sealed a deal with SriLankan Airlines for a full dollar loan of US$ 22.5 million this week. The syndicate loan arranged by Commercial Bank priced at LIBOR +2.35 […]
Poor Performance
Small enterprises are struggling to expand business and inject new investment to rural economies because credit is too expensive and not easily accessible.Small enterprises are struggling to expand business and inject new investment to rural economies because credit is too expensive and not easily accessible. Unable to compete with bigger firms with secure collateral, they […]
Off the Track
The government this week agreed to acquire fifteen new diesel engines and 100 coaches to help improve the Railway Authority’s commuter service.The government this week agreed to acquire fifteen new diesel engines and 100 coaches to help improve the Railway Authority’s commuter service. A government spokesperson on Thursday said the cabinet approved the deal as […]
Level Ground
The District Court on Friday vacated an interim injunction against the ICTA, but the agency is still bounded by an injunction by the Appeals Court.The District Court on Friday vacated an interim injunction against the ICTA, but the agency is still bounded by an injunction by the Appeals Court. The Appeal Court at a June […]