Category: Industry
Some of coral reefs battered, others untouched by tsunami
The tsunamis which smashed into Sri Lanka in December last year battered some of the island’s famed coral reefs to bits but left others untouched, environmentalists say.The tsunamis which smashed into Sri Lanka in December last year battered some of the island’s famed coral reefs to bits but left others untouched, environmentalists say. Based on […]
eSavings
Tech savvy Senkadagala Finance is coming out with savings products linked purely to teller machines, to mobilise low cost funds. Tech savvy Senkadagala Finance is coming out with savings products linked purely to teller machines, to mobilise low cost funds. The BBB+ (sri) rated company also plans to raise Rs. 250 million shortly through a […]
Flying Goods
National carrier SriLankan Airlines is adding South Indian industrial city of Coimbatore to its growing dedicated cargo network from Wednesday.National carrier SriLankan Airlines is adding South Indian industrial city of Coimbatore to its growing dedicated cargo network from Wednesday. The airline which is 40 percent owned by Dubai’s Emirates Airlines, presently operates regular freighter services […]
Electrical Wiz
Ceylinco’s pollution free car – the Reva selling at over Rs.1.2 mn has so far received some 20 confirmed orders.Ceylinco’s pollution free car – the Reva selling at over Rs. 1.2 mn has so far received some 20 confirmed orders. The Indian made electric car was commercially launched Monday, targeted at environment minded Sri Lankan’s […]
Test Pilot
The ICT Agency has put is current set of 16 pilot projects under review, with some completed and others needing to be scaled up.The ICT Agency has put is current set of 16 pilot projects under review, with some completed and others needing to be scaled up. The Ernest and Young review, due for completion […]
New Plan
Sri Lanka has been urged to devise a new Poverty Reduction Strategy (PRS) with the World Bank following the donor meeting in May.Sri Lanka has been urged to devise a new Poverty Reduction Strategy (PRS) with the World Bank following the donor meeting in May. Crucial to this would be working out a joint mechanism […]
May Day Resolutions
Sri Lanka’s government has promised lending agencies to turn a new leaf after May Day, kicking off the process with a hike in fuel prices, LBO learns.Sri Lanka’s government has promised lending agencies to turn a new leaf after May Day, kicking off the process with a hike in fuel prices, LBO learns. A top […]
Discount travel deals and aid work draw in tourists that are filling up city hotels
Discount travel deals and relief work are drawing in tourist numbers, as Indians and Europeans flocked into Sri Lanka and filled up city hotels in March.Discount travel deals and relief work are drawing in tourist numbers, as Indians and Europeans flocked into Sri Lanka and filled up city hotels in March. Arrivals in March this […]
Next Train
Railway authorities are looking for Rs. 15 billion from donors to lay a second track between Kalutara and Matara, improving its current service. Railway authorities are looking for Rs. 15 billion from donors to lay a second track between Kalutara and Matara, improving its current service. The second track will cut down delays currently faced […]
Fast Kill
Locals craving for fast foods, genetic disorders and pollution are tipped to make cardiovascular and asthma the next biggest ailment to hit Sri Lanka, an Indian drug maker said Wednesday. Locals craving for fast foods, genetic disorders and pollution are tipped to make cardiovascular and asthma the next biggest ailment to hit Sri Lanka, an […]
Tsunami destroyed hotels could bypass heavy compensation laws if they opt to layoff staff
Local hotels completely destroyed in the tsunami could plead a ‘frustrated contract’, to bypass heavy compensation laws and negotiate a settlement with workers.Local hotels completely destroyed in the tsunami could plead a ‘frustrated contract’, to bypass heavy compensation laws and negotiate a settlement with workers. The legal concept of frustration covers an external catastrophe, out […]
Called to Shore
Sri Lanka has asked the Asian Development Bank (ADB) to up a US$ 100 mn allocation to fund the Colombo south port to US$ 200 mn, nearly half of the estimated cost for the initial phase.Sri Lanka has asked the Asian Development Bank (ADB) to up a US$ 100 mn allocation to fund the Colombo […]