Category: Industry
Little Irritation
Sri Lanka Telecom’s group net profits fell 27 percent for the nine months ended Sept.30, weighed down by a new levy on international calls. Sri Lanka Telecom’s group net profits fell 27 percent for the nine months ended Sept. 30, weighed down by a new levy on international calls. The cash rich operator posted net […]
Strike Out
The CEB Engineers Union suspended a planned token strike to be held on Wednesday, subject to further talks with the Government on the coal and Upper Kotmale projects.The CEB Engineers Union suspended a planned token strike to be held on Wednesday, subject to further talks with the Government on the coal and Upper Kotmale projects. […]
Cashing on a booming hospitality industry, conglomerate Hemas Holdings is infusing Rs. 100 mn to put up a luxury resort in Tangalle
Cashing on a booming hospitality industry, conglomerate Hemas Holdings is infusing Rs.100 mn to put up a luxury resort in the southern coast of Tangalle.Cashing on a booming hospitality industry, conglomerate Hemas Holdings is infusing Rs. 100 mn to put up a luxury resort in the southern coast of Tangalle. The concept paper for the […]
Disclosure Tariffs
The insurance watchdog is taking a serious look at mandating firms to get a listing on the Colombo Stock Exchange within three years, a top official said.The insurance watchdog is taking a serious look at mandating firms to get a listing on the Colombo Stock Exchange within three years, a top official said. The issue […]
Local Talk
Officials say the next PC sold in the market could come with Sinhalese language capabilities and a local language keyboard.Officials say the next PC sold in the market could come with Sinhalese language capabilities and a local language keyboard. In a beta version released in late October, the hundreds of character combinations that make the […]
By the Way
The Road Development Authority (RDA) is mooting ambitious plans to setup wayside resting parks – reminiscent of the old ambalama concept – without the grazing ground for cattle, but with accident free parking facilities for vehicles.The Road Development Authority (RDA) is mooting ambitious plans to setup wayside resting parks – reminiscent of the old ambalama […]
Divine Intervention
People’s Bank is anticipating a Rs. 8.5 billion cash injection from the State to shore up its capital account by mid next year. People’s Bank is anticipating a Rs. 8.5 billion cash injection from the State to shore up its capital account by mid next year. "We submitted our proposals to SEMA. We are hopeful […]
Powerful Undercurrents
The Ceylon Electricity Board Engineers’ Union is threatening to plunge the country into darkness if the government fails to find sustainable solutions to reduce power prices in the country. The Ceylon Electricity Board Engineers’ Union is threatening to plunge the country into darkness if the government fails to find sustainable solutions to reduce power prices […]
High Time
A top bureaucrat said the utilities regulator already set up will be made fully operational next year. A top bureaucrat said the utilities regulator already set up will be made fully operational next year. Mano Tittawella, the Chairman of Strategic Enterprises Management Agency (SEMA), told businessmen that the multi sector regulator, Public Utilities Commission of […]
Hilton Hotel sale may take time
The Sri Lankan government’s majority stake sale in Hotel Developers (Lanka) Ltd. is unlikely to go through soon as had been expected earlier, an official at the government’s privatization body said Friday. The Sri Lankan government’s majority stake sale in Hotel Developers (Lanka) Ltd. is unlikely to go through soon as had been expected earlier, […]
Banking Miracle
Newly renamed Pan Asia bank said they plan to get a listing on the Colombo Stock Exchange next month and raise new capital next year. Newly renamed Pan Asia bank said they plan to get a listing on the Colombo Stock Exchange next month and raise new capital next year. Pan Asia now called PABC […]
Speed Cheques
Sampath Bank has started using image clearing technology to process cheques even before Sri Lanka’s national cheque clearing centre, Lanka Clear is ready to move into cheque truncation. Sampath Bank has started using image clearing technology to process cheques even before Sri Lanka’s national cheque clearing centre, Lanka Clear is ready to move into cheque […]