Category: Industry
Crackling in the Line
Sri Lanka Telecom (SLT) said earnings will be hit this year due to the Telecom Development Levy and its subsidiary Mobitel’s operations.Sri Lanka Telecom (SLT) said earnings will be hit this year due to the Telecom Development Levy and its subsidiary Mobitel’s operations. SLT provided Rs. 2 billion for the Telecom Development Levy in the […]
People’s Money
People’s Bank and National Savings Bank (NSB) reported higher earnings for the first nine months despite the government slapping special levies on both institutions.People’s Bank and National Savings Bank (NSB) reported higher earnings for the first nine months despite the government slapping special levies on both institutions. NSB had forked out a billion rupees while […]
Tiddley Winks
Sri Lanka Insurance Corporation (SLIC) unveils an insurance plan for children between one month and 15 years.SLIC launched its new the new insurance plan for children, Mini Muthu on Thursday. The Mini Muthu plan of assurance is a life cover for both parents with a guaranteed fund for the child at maturity. Parents can choose […]
Fire Power
The government to subsidise the first 50 MW of dendro power to popularise dendro energy in Sri Lanka.The government to subsidise the first 50 MW of dendro power to popularise dendro energy in Sri Lanka. “The government will support the first 50 MW of pioneering dendro developers,” said Harsha Wickramasinghe, Project Director, Energy Conservation Fund. […]
Extra Mile
Trishaw owners have become a privileged lot, first fuel subsidies and tax cuts from the government and now individual attention from Peoples Bank.Trishaw owners have become a privileged lot, first fuel subsidies and tax cuts from the government and now individual attention from Peoples Bank. The bank says there are 200,000 registered three wheelers, with […]
Cozy Union
India’s state-run Oil & Natural Gas Corp. is planning to form a joint venture with Sri Lankan state-run company Ceylon Petroleum Corp. to take up exploration in Southern India’s Cauvery basin, reports the Economic Times newspaper Tuesday India’s state-run Oil & Natural Gas Corp. is planning to form a joint venture with Sri Lankan state-run […]
Gem Float
The Ceylinco group got another foot into the local gem and jewellery industry by floating a new company to finance gem trading and mining. The Ceylinco group got another foot into the local gem and jewellery industry by floating a new company to finance gem trading and mining. “We will not be competing with the […]
Drain Gain
Brain drain has its upside says a new UN Economic and Social Survey, contributing generously to a developing countries external reserves.Brain drain has its upside says a new UN Economic and Social Survey, contributing generously to a developing countries external reserves. Sri Lanka’s private remittance adds up to about 7.75% of GDP, ranking it with […]
Drip Aid
Sri Lanka signed up for Rs. 26.1 bn worth of concessional aid from Japan to promote economic stabilization and development, the Finance Ministry said Wednesday.Sri Lanka signed up for Rs. 26.1 bn worth of concessional aid from Japan to promote economic stabilization and development, the Finance Ministry said Wednesday. The loans will carry a concessional […]
And Counting….
The Lanka IOC issue had attracted more than Rs. 24 bn, or more than 1 percent of GDP, even before all the postal and regional stock exchange applications were counted. Foreign applications had topped US $ 95 mn. “We are very encouraged by the foreign investor response,” says Vajira Kulathilaka, Head of NDB Investment Bank, […]
Oil Dollars
Sri Lanka will get Asian Development Bank help for its up-coming bidding round to auction off potential blocks off the Mannar coast, for oil exploration. Sri Lanka will get Asian Development Bank help for its up-coming bidding round to auction off potential blocks off the Mannar coast, for oil exploration. Sri Lanka has applied for […]
Robin Hood
Government promises to give positive interest rates to savers but the budget revealed a plan to short-change state pension funds.Government promises to give positive interest rates to savers but the budget revealed a plan to short-change state pension funds. The Finance Minister said in the budget the government plans to convert rupee loans to low […]