Category: Industry
High Level
Traffic at the High Level and Kohuwala junctions in Nugegoda will fly over from 2007, with the Cabinet approving a Rs.600 mn project. Traffic at the High Level and Kohuwala junctions in Nugegoda will fly over from 2007, with the Cabinet approving a Rs. 600 mn project. The three year fly over project is one […]
Wise Words
President Chandrika Kumaratunga says pyramid style network marketing schemes have drained over US$ 50 mn from the country and warned tough action against government officials who promote them.President Chandrika Kumaratunga says pyramid style network marketing schemes have drained over US$ 50 mn from the country and warned tough action against government officials who promote them. […]
Crew Cut
The Asian Development Bank (ADB) will divert US$ 100 million of a US$ 570 aid package approved for Sri Lanka, to construct a breakwater in the proposed Colombo South Harbor.The Asian Development Bank (ADB) will divert US$ 100 million of a US$ 570 aid package approved for Sri Lanka, to construct a breakwater in the […]
Price Surge
SriLankan Airlines is raising fares by five percent from October 1, as twin effects of a falling rupee and rising oil prices chips away profits. SriLankan Airlines is raising fares by five percent from October 1, as twin effects of a falling rupee and rising oil prices chips away profits. The national carrier got Civil […]
Different Beat
Payphone operator Tritel Services (Pvt) Ltd has donated a year’s worth of ‘coin jam money’ to drought-affected families in Anuradhapura.Payphone operator Tritel Services (Pvt) Ltd has donated a year’s worth of ‘coin jam money’ to drought-affected families in Anuradhapura. Five hundred families in Maha Kanadarawa received dry ratios worth Rs. 250,000, partly funded from ‘jammed […]
Sri Lanka still short of 100,000 hotel rooms to meet inbound tourist traffic
SriLankan Airlines has upped the tempo on promotions, new destinations and aircrafts, but says the country is still short of 100,000 hotel rooms to meet inbound tourist traffic.SriLankan Airlines has upped the tempo on promotions, new destinations and aircrafts, but says the country is still short of 100,000 hotel rooms to meet inbound tourist traffic. […]
Nail Biting
The government is expected to give its verdict on People’s Bank’s restructuring proposal in three-weeks time detailing capital injection plans.The government is expected to give its verdict on People’s Bank’s restructuring proposal in three-weeks time detailing capital injection plans. The technically insolvent bank is asking to issue long-term convertible bonds to meet Central Bank’s minimum […]
Profits Evaporated
Local gas consumption is expected to slide further following recent price hikes, but market mover, Shell, says it is still loosing millions of rupees each day. Local gas consumption is expected to slide further following recent price hikes, but market mover, Shell, says it is still loosing millions of rupees each day. Shell Gas Lanka […]
Service Concerto
DMS Electronics Limited, on Tuesday said it would retail US based Concerto Software Inc.’s contact centre solution here. DMS Electronics Limited, on Tuesday said it would retail US based Concerto Software Inc.’s contact centre solution here. The range of contact centre products offer companies the option to offer multiple channels of communication to their clients […]
Energy Costs
The government is trying to sell its watered down electricity sector reform plans to lending agencies and top up sector funds this month. The government is trying to sell its watered down electricity sector reform plans to lending agencies and top up sector funds this month. “The government will meet with the ADB and JBIC […]
Spiriting Cash
Telecom operators are concerned that money meant to finance rural connectivity channeled to the cash strapped Treasury as a temporary measure, will not be available for the industry when the legal framework is ready.Telecom operators are concerned that money meant to finance rural connectivity channeled to the cash strapped Treasury as a temporary measure, will […]
HNB woos
Hatton National Bank says its shares are under-priced by the market.Hatton National Bank says its shares are under-priced by the market. This week it called an analysts conference to show that its shares are worth more than the levels reflected in the current prices. This has led to speculation that the bank could be heading […]