Category: Industry
Switched Off
Electricity sector trade union plans for an island wide blackout, goes on hold after the government agrees to hold back Ceylon Electricity Board (CEB) reforms.Electricity sector trade union plans for an island wide blackout, goes on hold after the government agrees to hold back Ceylon Electricity Board (CEB) reforms. “The Minister of Power and Energy […]
Joint Forces
The government says is it has not yet been able to set up a joint mechanism to fund the North and East, and is waiting for a word from the LTTE top brass.The government says is it has not yet been able to set up a joint mechanism to fund the North and East, and […]
Hic Hic
Sri Lanka’s warring parties are yet to agree on how to disburse millions of dollars in foreign aid for tsunami survivors more than three months after the disaster, a senior minister admitted Thursday.Sri Lanka’s warring parties are yet to agree on how to disburse millions of dollars in foreign aid for tsunami survivors more than […]
Unplugged
Power sector unions are giving the state till Friday to decide on controversial reform plans for the loss making Ceylon Electricity Board, ahead of a key union meeting.Power sector unions are giving the state till Friday to decide on controversial reform plans for the loss making Ceylon Electricity Board, ahead of a key union meeting. […]
Short Selling
The Public Enterprises Reform Commission (PERC) has billed just over a million rupees for the government so far, selling its minority stakes in listed companies.The Public Enterprises Reform Commission (PERC) has billed just over a million rupees for the government so far, selling its minority stakes in listed companies. Small parcels including stakes in Commercial […]
Swiss Aid
Switzerland on Wednesday gave Sri Lanka US$ 7 mn as aid for cash grants to rebuild houses outside the coastal buffer zone in tsunami affected areas.Switzerland on Wednesday gave Sri Lanka US$ 7 mn as aid for cash grants to rebuild houses outside the coastal buffer zone in tsunami affected areas. The grant funds will […]
Up Link
Telecom Ministry says Lanka Internet could continue with its existing license to offer voice service, but says will consider all interpretations of the licenses from the industry. Telecom Ministry says Lanka Internet could continue with its existing license to offer voice service, but says will consider all interpretations of the licenses from the industry. The […]
Thrice Over
Destitute Hambantota entreprenuers, who were hit by the tsunami, then battered by the government’s buffer zone rules, are now caught in another vicious trap as banks value their remaining land at rock bottom prices.Destitute Hambantota entreprenuers, who were hit by the tsunami, then battered by the government’s buffer zone rules, are now caught in another […]
Free Float
SriLankan Airlines is contemplating moving into a floating rate fare regime to beat off galloping fuel prices that is burning a hole in its bottomline, a top official said Tuesday. The national carrier raised fares between US$ 15-50 from April 1, as jet fuel prices are showing no signs of abating. For instance, a round […]
Blackout
Ceylon Electricity Board has started restoring power to the grid starting from Colombo city after supply to the entire country failed.Ceylon Electricity Board has started restoring power to the grid starting from Colombo city after supply to the entire country failed. Engineers say the entire island would be connected within two hours. CEB is still […]
Climbing Up
World oil prices hit fresh historic high points on Monday, climbing above 58 dollars a barrel in New York on tight supplies, as OPEC began consultations to consider raising output by 500,000 barrels per day.New York’s main contract, light sweet crude for May delivery, struck a record intra-day high of 58.18 dollars in electronic trading […]
Backup Power
Sri Lanka’s monopoly power utility was scrambling to restore power late Monday evening after two transmission lines tripped causing an islandwide blackout.Sri Lanka’s monopoly power utility was scrambling to restore power late Monday evening after two transmission lines tripped causing an islandwide blackout. The Ceylon Electricity Board’s engineers said that powerlines running from Victoria to […]