Category: Industry
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 […]
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 […]
Call back
The telecom watchdog’s staff has taken the Regulatory Commission to court over a decision to reverse a salary increment given earlier this year.The telecom watchdog’s staff has taken the Regulatory Commission to court over a decision to reverse a salary increment given earlier this year. On Tuesday a case filed by three employee unions in […]
Laid Off
Plans to lay off private sector workers in Sri Lanka laid off, until the government works out how to finance unemployment insurance.Plans to lay off private sector workers in Sri Lanka laid off, until the government works out how to finance unemployment insurance. The Ministry of Labour gazetted its latest compensation formula to lay off […]