Category: Industry
Lets Roll
Sri Lanka and Thailand have agreed to liberalise their air services by giving each other lquote fifth freedom rights for their respective designated carriers.Fifth freedom rights allows the designated carrier to land in a second country, pick up passengers, cargo and mail destined for a third country.rn rnldblquote Both sides agreed to give unlimited number […]
Street Hawkers
Sri Lankas corporates are jostling each other to come out into the sunshine thanks to the digital revolution jumping the local advertising industry. Its not a small budget, small business thing anymore; outdoor advertising is climbing the social ladder in Sri Lanka.rn rnWhether its the corporate blue bloods or the village petti kade (box shop), […]
Long Beep
Fixed line operator Suntel plans to infuse US$ 20 mn this year, to roll out its network islandwide.The wireless local loop operator has sought the telecom watchdogs approval to get a slot in the 800 Mhz bandwidth.rn rnSuntel officials say they applied for approval mid last year, but are yet to receive the regulators consent. […]
Inside Lanka
Chipmaker Intel setup shop here this week, apart from the obvious reason of taping into the sales potential in the island, to standardize wireless technologies WiFi and WiMax. The local office will help identify corporate businesses and rural infrastructure rollout projects that will use wireless technologies.rnrnThe wireless standardization process is in line with Intels current […]
IT Global
Sri Lankas IT industry is surging ahead and on Tuesday another key player launched operations in Colombo, adding one more link to the backward integration chain.Sri Lankas computer market is estimated at 150,000 PCs a year and is growing at around 19 percent every year.rn rnHigher priced branded computers make up nearly 30 percent of […]
Line Master
Delays in appointing a Commission to the telecom watchdog is holding up Suntels next phase of network expansion. Costs per line are estimated to tumble down to about US$ 200 from the above US$ 1000 levels currently, with the new network expansion.rn rnSuntel could also tap the market for funds to foot its network expansion […]
Disclosure Regulation
A former securities regulator is calling on authorities to mount a public education campaign to increase awareness about pyramid schemes.Central Bank has already drafted some legislation to combat pyramiding as part of their come in their upcoming Banking Act, but there is no sign that the parliament will pass it any time soon.rn rnldblquote Even […]
Catching The Bus
Sri Lankas mass transport system driven by private and public busses and vans are a public menace killing around 500 people on average every year.rn rnThe quality of service is also appalling overcrowding, arbitrary pricing and sudden changes of routes and strikes.rn rnThe action plan for land transport that was approved by Cabinet last Thursday […]
Customs Fraud
The Customs Department investigators are probing whether Gold Quest customers defrauded the state of revenue, by undervalueing imported Gold coins to the country.GoldQuest customers or Tracking Centre Owners, paid only Rs. 3,000 in duty and taxes for the Rs. 80,000 plus priced gold coins purchased from the companys website.rn rnThe coins are cleared by a […]
Gaol Quest
Customers of Gold Quest, who were hoping to gain total financial freedom within three years by joining the firms controversial lquote binary compensation plan, may now have to spend up to five years in jail for foreign exchange fraud.Authorities have started gathering data on Gold Quests Tracking Center Owners (TCOs) who fraudulently used credit cards […]
Curious Courier
DHL said they would upgrade supply chain management in the Asia Pacific region to better service the garment trade.Guaranteed quotas for garment exports are due to expire at the end of the year and DHL says garment manufacturers will have to rely on faster delivery times to be competitive.rn rnApparels already account for around 50 […]
Globe Trotting
The prospect of joining U.N. peacekeepingrnmissions has prompted more people to join Sri Lankas army, which has beenrnsuffering from a troop shortage, military officials said Friday.rnAfter two decades of brutal civil war, this countrys army has beenrnplagued by desertions. Officials have struggled to get recruits for thernforce, which is supposed to have 100,000 members.rn rn […]