Category: Industry
Wait Up
Sri Lanka’s domestic banks are still far from coming to grips with modern risk management techniques, though branches of foreign banks were coping better, a survey that was out in November, has revealed.Sri Lanka’s domestic banks are still far from coming to grips with modern risk management techniques, though branches of foreign banks were coping […]
Bitter Battles
Depositors of the failed Pramuka Bank have demanded Rs.6 bn in damages from its regulator, Sri Lanka’s Central Bank.Depositors of the failed Pramuka Bank have demanded Rs. 6 bn in damages from its regulator, Sri Lanka’s Central Bank. “We sent out letters of demand to the Monetary Board asking for damages up to Rs. 6 […]
Begging Success
Giving a brief respite to the cash-strapped government, Malaysian State Oil Company Petronas has agreed to defer crude oil payments for up to six months to help Sri Lanka manage the exchange rate crisis.Giving a brief respite to the cash-strapped government, Malaysian State Oil Company Petronas has agreed to defer crude oil payments for up […]
Wide Choice
The Maldivian government has started talks with Kuwait’s Al Watania Telecom to offer a second mobile phone slot in the Atolls.The Maldivian government has started talks with Kuwait’s Al Watania Telecom to offer a second mobile phone slot in the Atolls. Cellular services are currently provided by Dhiraagu Pvt.Ltd., a joint-venture between the Maldivian government […]
Taxing Max
Tax experts say that government’s ad hoc changes to taxes outside the budget harms the stability of the fiscal environment. Tax experts say that government’s ad hoc changes to taxes outside the budget harms the stability of the fiscal environment. They also believe that the Economic Service Charge has not looked positive on a cross […]
Sri Lanka is vying for more attention in the global tourism trail, as globetrotters shrug off economic downturn and terrorism fears to travel
Sri Lanka is vying for more attention in the global tourism trail, as globetrotters shrug off economic downturn and terrorism fears to travel.Sri Lanka is vying for more attention in the global tourism trail, as globetrotters shrug off economic downturn and terrorism fears to travel. The global tourism trade will close strong this year, with […]
Model Trains
The local railway is hoping to build its fleet by making trains at home but the plan hinges on a successful test run next year. The local railway is hoping to build its fleet by making trains at home but the plan hinges on a successful test run next year. Sri Lanka’s railway coupled up […]
Redial
The telecom watchdog is hoping to revive a 2002 National Communications Policy (NCP), which was to give greater independence and authority to the regulator, while easing technology restrictions in deploying network infrastructure.The telecom watchdog is hoping to revive a 2002 National Communications Policy (NCP), which was to give greater independence and authority to the regulator, […]
Europeans are trickling into to Sri Lanka for a sizzling winter.
October tourist arrivals show Europeans trickling into to the warm beaches of Sri Lanka for a sizzling winter vacation.October tourist arrivals show Europeans trickling into to the warm beaches of Sri Lanka for a sizzling winter vacation. “Arrivals from Europe are increasing from October because it’s the start of winter,” said the Tourist Board announcing […]
Running Condition
Sri Lanka’s railway is badly in need of a lifeline, a big fat one in that, instead for years now its has been thrown a thread to hang on to. Sri Lanka’s railway is badly in need of a lifeline, a big fat one in that, instead for years now its has been thrown a […]
Pitching for Dollars
The Sri Lankan government is trying to access US$ 248.0 mn from the Millennium Challenge Account (MCA) to finance a cluster of development projects valued at US $ 977.7 mn. The Sri Lankan government is trying to access US$ 248.0 mn from the Millennium Challenge Account (MCA) to finance a cluster of development projects valued […]
Good Omen
Sri Lanka Telecom’s maiden international debt issue took another step, when the telco giant picked up two foreign currency ratings for it debenture issue. Sri Lanka Telecom’s maiden international debt issue took another step, when the telco giant picked up two foreign currency ratings for it debenture issue. The dominant carrier waltzed off with a […]