Category: Industry
UK based Global Towers opens its flagship hotel on the coast, but says buffer zone could hold up Rs. 1.5 bn in new investment.
UK based entrepreneurs Global Lanka Holdings opened its flagship hotel in the heart of the city, but says the new 100 m buffer zone could hold up Rs.1.5 bn in future investment. UK based entrepreneurs Global Lanka Holdings opened its flagship hotel in the heart of the city, but says the new 100 m buffer […]
Going Steady
The Central Bank on Wednesday said it will actively absorb liquidity from the financial markets to curb inflation in the coming months.The Central Bank on Wednesday said it will actively absorb liquidity from the financial markets to curb inflation in the coming months. The bank however left its key short term interest rate unchanged for […]
Hot Line
Sri Lanka’s seven telecom operators took a Supreme Court injunction against the ICT Agency on Tuesday, halting a rural telecom network licensing process.Sri Lanka’s seven telecom operators took a Supreme Court injunction against the ICT Agency on Tuesday, halting a rural telecom network licensing process. The ICT Agency is currently taking in applications to pre-qualify […]
Sick Note
Part of the postal department is planning a midnight sick-note campaign, opposing graduate appointments and privatization of 109 communication locales – the government’s idea of a modern post office.Part of the postal department is planning a midnight sick-note campaign, opposing graduate appointments and privatization of 109 communication locales – the government’s idea of a modern […]
Tourist arrivals in Feb slump 16 percent over last year, though emerging markets grow.
Tourist arrivals in February saw a 16 percent slump over last year at 36,000, as visiting relief workers go home and holiday makers’ trickle back.Tourist arrivals in February saw a 16 percent slump over last year at 36,000, as visiting relief workers go home and holiday makers’ trickle back. India continued to drive the numbers […]
Turn Off
Sri Lanka’s nine provincial councils will raise business turnover tax from one percent to five percent on “non-essential” commodities from April 1 to bolster their own revenue.Sri Lanka’s nine provincial councils will raise business turnover tax from one percent to five percent on “non-essential” commodities from April 1 to bolster their own revenue. The list […]
Slow Boat
A senior ADB official due later in March on a tsunami mission, is expected to check up on the state’s commitments to the long overdue Colombo south harbour project.A senior ADB official due later in March on a tsunami mission, is expected to check up on the state’s commitments to the long overdue Colombo south […]
Shocking
The Finance Minister says improving financial reporting standards will reduce the strain on the government budget The Finance Minister says improving financial reporting standards will reduce the strain on the government budget Better financial reporting according to the minister will make it possible for justifying restructuring of institutions making losses like the CEB, which is […]
Build It and Give It
SriLankan Airlines will hand over flying to a top European destination to its equity partner Emirates and add frequencies to other destinations on the back of a recent management reshuffle.SriLankan Airlines will hand over flying to a top European destination to its equity partner Emirates and add frequencies to other destinations on the back of […]
Clean Air
A long overdue spectrum reallocation process got the government’s nod, with telco operators Suntel, Lanka Bell and Mobitel to be relocated on the frequency table.A long overdue spectrum reallocation process got the government’s nod, with telco operators Suntel, Lanka Bell and Mobitel to be relocated on the frequency table. The reallocation within the 800 MHz […]
Seniors First
The Bank of Ceylon (BOC) is trying to convince more senior citizens to use ATM machines, instead of queuing up at the bank counter for pensions. The Bank of Ceylon (BOC) is trying to convince more senior citizens to use ATM machines, instead of queuing up at the bank counter for pensions. “We have quite […]
More Please
Tsunami-hit Sri Lanka has accepted a Paris Club offer to freeze its debt payments until the end of 2005, but plans to press lenders to extend the moratorium to the end of 2007, the island’s finance minister said on Friday.Tsunami-hit Sri Lanka has accepted a Paris Club offer to freeze its debt payments until the […]