Category: Industry
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 […]
Getting Ready
After an exhaustive clean up of its balance sheet, the Merchant Bank of Sri Lanka (MBSL), plans to get an investment grade rating and tap the market for cheaper sources of funds to keep its leasing portfolio ticking.After an exhaustive clean up of its balance sheet, the Merchant Bank of Sri Lanka (MBSL), plans to […]
Going Going…
The Inland Revenue says the amnesty applications deadline can be extended after December 31 if the private sector is interested.The Inland Revenue says the amnesty applications deadline can be extended after December 31 if the private sector is interested. “There is no hard and fast rule that we have to close applications by December 31.But […]
Long Chat
Pioneering mobile operator Celltel Lanka Ltd picked up a US$ 20 mn cheque from a syndication of banks to deploy its network islandwide.Pioneering mobile operator Celltel Lanka Ltd picked up a US$ 20 mn cheque from a syndication of banks to deploy its network islandwide. Led and co-arranged by Hatton National Bank, the five year […]
De-Stuffing
People are not eating much bread anymore, as early Central Bank findings show locals spending instead on better food, phones, education, and more fun.People are not eating much bread anymore, as early Central Bank findings show locals spending instead on better food, phones, education, and more fun. The Central Bank just wrapped up its Consumer […]
Giant Strides
The Finance Ministry is speeding ahead with plans to set up an SME Bank early next year, with the paper work now before the Company’s Registrar.The Finance Ministry is speeding ahead with plans to set up an SME Bank early next year, with the paper work now before the Company’s Registrar. Mooted by the government […]
Sideslip
Sri Lanka’s aviation authorities have identified a new location for the second international airport for the island. Sri Lanka’s aviation authorities have identified a new location for the second international airport for the island. The 800-acre plot is located in Habaraduwa in the Galle District, near an existing airstrip in Koggala. “The next step will […]
Clean Bin
The Urban Development Authority (UDA) says some 50 acres of water front property in Colombo will be released for commercial use by 2006 under the second phase of the Beira Lake restoration project.The Urban Development Authority (UDA) says some 50 acres of water front property in Colombo will be released for commercial use by 2006 […]
Aid Drip
The International Finance Corp.(IFC) is spearheading a US$ 10 mn technical assistant project to uplift Sri Lanka’s small and medium sector.The International Finance Corp. (IFC) is spearheading a US$ 10 mn technical assistant project to uplift Sri Lanka’s small and medium sector. The Washington based IFC has chipped in US$ 2 mn to start off […]
Reading Easy
A local company broke the language barrier, developing a Sinhalese text recognition solution that interprets printed documents as text.A local company broke the language barrier, developing a Sinhalese text recognition solution that interprets printed documents as text. Developers, Sanje Lanka say the Sinhala Optical Character Recognition (OCR) system allows users to move away from saving […]
District Office
The Matale District Secretariat will take its business online in a pilot project, which hopes to automate its routine work.The Matale District Secretariat will take its business online in a pilot project, which hopes to automate its routine work. The Matele District Secretariat is one of 320 government agents providing a range of citizen services […]