Category: Industry
Hard to Understand
In a country that touts ‘free education’, but where its Central Bank estimates over Rs.5 bn is spent on private tuition at primary and secondary levels, the number of students that master key subjects remain humiliatingly small.In a country that touts ‘free education’, but where its Central Bank estimates over Rs. 5 bn is spent […]
Play Truant
Some 531 errant companies have not sent their financial statements for scrutiny says Sri Lanka’s accounting and auditing watchdog. Some 531 errant companies have not sent their financial statements for scrutiny says Sri Lanka’s accounting and auditing watchdog. Sri Lanka Accounting & Auditing Standards Monitoring Board (SLAASMB) in statement Friday said a recent investigative study […]
Quick End
A Cathay Pacific flight was diverted to Sri Lanka Friday to seek emergency medical help for a Japanese woman who was declared dead on arrival in hospital after suffering a blood clot, officials said.A Cathay Pacific flight was diverted to Sri Lanka Friday to seek emergency medical help for a Japanese woman who was declared […]
Red Tape
The Sri Lankan public sector is one of the biggest in the region, with a ratio of 3.9 civil servants to every 100 people, say economists.The Sri Lankan public sector is one of the biggest in the region, with a ratio of 3.9 civil servants to every 100 people, say economists. “Sri Lanka has one […]
Rail Run
The Railway Dept. says it urgently needs to hike its fares to cushion a 10 percent rise in its recurrent costs. The Railway Dept. says it urgently needs to hike its fares to cushion a 10 percent rise in its recurrent costs. A raised salary bill and higher fuel cost compared to a year ago […]
Change of Guard
John Keells Holdings Chairman steps down at the end of next year, paving the way Joint Managing Director Susantha Ratnayake to take over the reigns. John Keells Holdings Chairman steps down at the end of next year, paving the way Joint Managing Director Susantha Ratnayake to take over the reigns. Ajit Gunawardane, the other Joint […]
Look Out!
Service providers from other countries are already banging at Sri Lanka’s door, whether local services providers are ready for foreign competition or not.Service providers from other countries are already banging at Sri Lanka’s door, whether local services providers are ready for foreign competition or not. “We have already got 15 offers for various service sectors […]
Sri Lanka will drum up support for its tourism industry
Sri Lanka will drum up support for its tourism industry, with a band of international percussion artists beating it out in late March.Sri Lanka will drum up support for its tourism industry, with a band of international percussion artists beating it out in late March. The Tourist Board Chairman Udaya Nanayakara hopes the event will […]
New Cap
Hatton National Bank, Sri Lanka’s largest privately held bank, said it was appointing R Theagarajah, as its new Chief Executive Officer from Jan. 1, 2005. Theagarajah, a Senior Deputy General Manager, has also been appointed to the bank’s main board with immediate effect. The bank has also appointed Ratna Sivaratnam – formerly Chairman of Aitken […]
Peddle Power
Bicycles will be brought under the local government’s fold again, with a draft legislation looking to tighten the chains on the industry.Officials say bicycles licenses, which went out of use in the mid 1990s will be brought back, to help regulate users, curb road accidents and the industry. Meanwhile, the draft legislation also hopes make […]
Credit Slip
The Indian Export Import (EXIM) Bank has called for a corporate guarantee for the US$ 150 million fuel credit line to Sri Lanka.The Indian Export Import (EXIM) Bank has called for a corporate guarantee for the US$ 150 million fuel credit line to Sri Lanka. The new hurdle was introduced to cover a possible default […]
High Street
High pay is keeping them at their posts (bedposts) day after day and they are unlikely to make a career move anytime soon.High pay is keeping them at their posts (bedposts) day after day and they are unlikely to make a career move anytime soon. A future for them still seems blacked out, with most […]