Category: Industry
Stress Test
Mental illness is on the rise in the island but Sri Lankans prefer popping pills to pottering of to see a shrink.Ironically, psychiatrists don’t feel like treating Sri Lankan’s either.Mental illness is on the rise in the island but Sri Lankans prefer popping pills to pottering of to see a shrink. Ironically, psychiatrists don’t feel […]
Life Extension
Ceylinco Insurance says it is in talks with Hayleys AIG to acquire its life insurance business in Sri Lanka.Ceylinco Insurance says it is in talks with Hayleys AIG to acquire its life insurance business in Sri Lanka. Hayleys AIG, which has over 6,000 life policyholders at present, plans to concentrate on general insurance in the […]
Good Times
Local financial sector, dominated by banks, has been growing at a healthy pace for decades.Local financial sector, dominated by banks, has been growing at a healthy pace for decades. Over the last five years banks with their access to cheap deposits have also made in-roads to specialized areas in the financial sector like leasing. The […]
Wired Up
Cellular operator Hutch (formally known as Hutchison) is linking up its limited mobility network to add an island wide mobile service to its portfolio.Cellular operator Hutch (formally known as Hutchison) is linking up its limited mobility network to add an island wide mobile service to its portfolio. Hutch adopted a network model which restricted the […]
Face Lift
Holidaymakers to Sri Lanka this winter will probably return home more relaxed and looking better than they did before their vacation – that is if they check in at the plush Apollo Colombo before sinking into their holiday.Holidaymakers to Sri Lanka this winter will probably return home more relaxed and looking better than they did […]
Surgical Cut
Asiri Medical Services, a unit of Asiri Hospitals Ltd., plans to list its stock next year to settle some debt.Asiri Medical Services, a unit of Asiri Hospitals Ltd., plans to list its stock next year to settle some debt. The 14 storey Asiri Medical Service (AMS) cost the group around Rs. 1.0 bn and was […]
Cricket plays up tourist arrivals in July, sets record for the month
The Tourist Board says July’s arrivals are the best ever recorded for the month, with 50,525 visitors, run up by Indian cricket enthusiast following their team here.The Tourist Board says July’s arrivals are the best ever recorded for the month, with 50,525 visitors, run up by Indian cricket enthusiast following their team here. “The good […]
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 […]
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 […]
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. […]