Category: Industry
War drums dampen Sri Lanka’s tourism cheer in the New Year
Sri Lanka’s tourism industry is set to wrap up its best year ever thanks to a truce between troops and Tiger rebels, but fears of a return to war have made the flourishing sector jittery once again.Sri Lanka’s tourism industry is set to wrap up its best year ever thanks to a truce between troops […]
Partner Wanted
HNB Assurance is on the look out for a foreign partner to spruce up its general insurance business.HNB Assurance is on the look out for a foreign partner to spruce up its general insurance business. “The challenge now is to find a partner to support us in general insurance,” said Manjula de Silva, CEO, HNB […]
Red Flags Ahead
World Bank says the erosion of fiscal gains made in the last two years will slow growth to below 5 percent and reduce donor funding for the budget.World Bank says the erosion of fiscal gains made in the last two years will slow growth to below 5 percent and reduce donor funding for the budget. […]
The Other Side
The head of the local investment promotion agency says open global markets are forcing government to give tax incentives to attract investments. The head of the local investment promotion agency says open global markets are forcing government to give tax incentives to attract investments. BOI Chairman Saliya Wickramasuriya says however that these incentives have to […]
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 […]