Category: Industry
Virtual Money
The World Bank on Thursday signed a US$ 53 million deal with the Republic of Sri Lanka, funds to back its island-wide Information and Communications Technology diffusion project.The funds will be available to the ICT Agency to rollout a number of pilot projects and initiate rural telecommunications projects.rn rnKey elements of the first phase of […]
Growing Wings
National carrier SriLankan Airlines threw the gauntlet at the hotel industry, saying it was ready to broad base into up-market leisure hotels if local industry didnt make a move on. ldblquote If you dont invest in the industry, this airline will, dblquote warned SriLankan Airlines CEO, Peter Hill addressing corporate heads at the ninth LBO-LBR […]
Hunger Pangs
TNT employees around the world will take to the roads on Sunday, to raise awareness and funds against world hunger.TNT International Express employees in 64 countries across 24 time zones will come on to the roads starting from New Zealand to raise awareness about the extent of world hunger.rn rnldblquote The walk will start in […]
Road Block
Open bids to be called for in June to build the Colombo-Katunayake Highway are on hold, as the government tries to jumpstart the process with former contractor Keagnam.rnrn rnPriority for the project has been shifted to lquote now rather than months down the line, with the new government halting two years of groundwork, to explore […]
Local Anesthesia
Sri Lankas roads are crying out for some serious medicine, but the Highways Ministry is tending the road network with sticking plasters, since it cant afford surgery.Sri Lanka has an extensive road network of more than 90,000 km, but most of it is also over 50 years old.rn rnMaintenance and rehabilitation of these roads, and […]
Under the Wing
Eagle Insurance paid some Rs. 145 mn for International Finance Corporations (IFC) 15 per cent stake in Union Assurance, in a deal that went through the Colombo bourse on Wednesday.IFC has been trying to exit the holding for about a year now.Industry sources said John Keells Holdings and Carsons Cumberbatch together sharing a 73 per […]
Community Support
ADB will help restore basic social infrastructure and community services in conflict-affected northern and eastern regions of Sri Lanka, through a US$10 million loan approved Tuesday. rnIn support of existing rehabilitation and relief efforts under ADBs North East Community Restoration Development (NECORD) project, this extension project will address basic needs in health, education, agriculture, community, […]
Wrong Call
A truce between Tiger rebels and troops has helped Sri Lanka recover its reputation as a tourist paradise, but the halt in hostilities has triggered a battle against foreign prostitutes.Nightlife in Colombo has been stimulated with the growth of bars, night clubs and casinos after the Norwegian-brokered ceasefire took effect from February 2002 and with […]
Value Addition
Do quality certification programmes bring tangible improvements to businesses?This is one key aspect that a new certification services company in Sri Lanka plans to address as it seeks to establish itself as a provider of value-added certification services to the islands corporate sector.rn rnQuality International Certification Services (Pvt) Ltd., (QICS) commenced operations recently as the […]
Tourism Spin
Spin wizard Murali is spinning more than the ball for Sri Lanka, turning more Austrailian tourists here to watch him turn it on local wickets, says the Tourist Board.Visitors to the island from down under went up to 1089 in May up from 720 the year before.Up to May 6,843 Australians have visited, up 23.5 […]
Lost In Translation
For instance, a simple and direct translation in Sinhalese for ldblquote save dblquote means rescue, while there is no commonly used local term for mouse.rn rnMicrosoft Corp., recently setup local office is booting up for a nationwide campaign to compile a glossary of terms and phrases used in daily computing.rn rnThe proposed open process will […]
Smoke Screen
Sri Lanka was considering bringing back heavy taxes to discourage foreign ownership of land amid a surge in the sale of beach property to non-nationals, a senior government minister said Friday.The cabinet on Wednesday decided to reconsider imposing a 100 percent tax on foreigners buying land, cabinet spokesman Mangala Samaraweera said adding that a committee […]