Category: Industry
Water Tight
An ADB team due in Sri Lanka in April will consider a government plea to up a US$ 100 mn allocation by the bank to build a new port to the south of the Colombo harbour.An ADB team due in Sri Lanka in April will consider a government plea to up a US$ 100 mn […]
Tick Tick
Three twisted carriages stand as a grim reminder of the December tsunamis that engulfed the “Ocean Queen” train, sending more than 1,000 passengers to their deaths and ripping up the tracks. Three twisted carriages stand as a grim reminder of the December tsunamis that engulfed the “Ocean Queen” train, sending more than 1,000 passengers to […]
Call for You
Lanka Bell and Suntel received spectrum from the Telecommunication Regulatory Commission (TRC) to deploy CDMA technology in Sri Lanka. Lanka Bell and Suntel received spectrum from the Telecommunication Regulatory Commission (TRC) to deploy CDMA technology in Sri Lanka. Lanka Bell says they expect to complete the first phase of their deployment in three months. Telecom […]
Empty Chest
The Asian Development Bank admits it has not given a cent to Sri Lanka so far, as the US$ 150 mn tsunami assistance programme will only go before its board in mid April, a top official said.The Asian Development Bank admits it has not given a cent to Sri Lanka so far, as the US$ […]
Waiting Game
The Asian Development Bank has asked Sri Lanka to step up the momentum of tsunami reconstruction and said it was awaiting agreement between Tamil Tiger rebels and the government over relief distribution.The Asian Development Bank has asked Sri Lanka to step up the momentum of tsunami reconstruction and said it was awaiting agreement between Tamil […]
Clear Line
Lanka Internet Services Ltd could become Sri Lanka’s eighth telecom service provider, operating an islandwide network under its existing enhanced voice license.Lanka Internet Services Ltd could become Sri Lanka’s eighth telecom service provider, operating an islandwide network under its existing enhanced voice license. The internet solutions and international calling card operator’s management and a team […]
Local civil aviation laws are being tweaked to make it easier for aviation sports to take to the skies.
Local civil aviation laws are being tweaked to make it easier for adventure aviation sports like gliding and para-jumping to take to the skies.Local civil aviation laws are being tweaked to make it easier for adventure aviation sports like gliding and para-jumping to take to the skies. Aviation sports have long been restricted by security […]
Group Cover
LIC Lanka says Sri Lanka’s low income workforce could be covered by a group insurance policy partially funded by the government.LIC Lanka says Sri Lanka’s low income workforce could be covered by a group insurance policy partially funded by the government. The insurer’s board of directors have agreed to pitch the idea to the government, […]
Hungry Mouths
HSBC Bank picked up Rs. 400 mn worth of leased backed paper, locking returns for up to four-years.HSBC Bank picked up Rs. 400 mn worth of leased backed paper, locking returns for up to four-years. People’s Leasing Co. issued the lease-backed securities in the form of a direct loan as a cost effective method to […]
Slow Pace
Reconstruction of tsunami-hit infrastructure and homes along Sri Lanka’s ravaged coast has been delayed because pledged donor aid is only trickling in and relief agencies are still discussing plans, the government says.Reconstruction of tsunami-hit infrastructure and homes along Sri Lanka’s ravaged coast has been delayed because pledged donor aid is only trickling in and relief […]
BTT or Not?
Stiff political opposition stops Sri Lanka’s key local body from raising taxes by four percent, for the first time in 15 years.Stiff political opposition stops Sri Lanka’s key local body from raising taxes by four percent, for the first time in 15 years. The Western Provincial Council – which controls over 50 percent of Sri […]
Fresh Aid
Japan is finalising a US$ 100 mn tsunami soft loan for Sri Lanka’s reconstruction work, expected to come through by mid next month.Japan is finalising a US$ 100 mn tsunami soft loan for Sri Lanka’s reconstruction work, expected to come through by mid next month. The soft loan will be over and above US$ 80 […]