Category: Industry
Powder Puff
The US embassy in Sri Lanka was shut indefinitely Tuesday due to a “security threat” after a letter containing a suspect substance was received, diplomatic sources said.The US embassy in Sri Lanka was shut indefinitely Tuesday due to a “security threat” after a letter containing a suspect substance was received, diplomatic sources said. Staff were […]
Vocal Support
Sri Lanka’s appalling record in the area of gender equality in politics and governance at the grassroots will be the focus of a unique national summit of women in Colombo later this month.Sri Lanka’s appalling record in the area of gender equality in politics and governance at the grassroots will be the focus of a […]
Extended Family
National carrier, SriLankan Airlines acquired its fifth Airbus A320 aircraft which raises its fleet strength to 17. National carrier, SriLankan Airlines acquired its fifth Airbus A320 aircraft which raises its fleet strength to 17. The airline plans to get as many as five more aircraft this year. Of the five, the airline plans to acquire […]
Full Stop
The Treasury has put a lid on government owned entities from investing surplus funds through private owned financial institutions with immediate effect. The Treasury has put a lid on government owned entities from investing surplus funds through private owned financial institutions with immediate effect. The Treasury is going by an existing rule under Section 11 […]
Chapter Close
Ending months of tragic tales, the Central Bank says it is ready to reimburse small depositholders of the failed Pramuka Savings & Development Bank, once liquidation process gets off the ground shortly. Ending months of tragic tales, the Central Bank says it is ready to reimburse small depositholders of the failed Pramuka Savings & Development […]
Pulse Gets Weaker
Government may have to re-capitalize People’s Bank for the third time, if the bank is to meet capital adequacy requirements next year.Government may have to re-capitalize People’s Bank for the third time, if the bank is to meet capital adequacy requirements next year. With privatization no longer an option, the bank is to forward alternate […]
G-Mail
The US Agency for International Development (USAID) has shifted its assistance to top gear infusing US$ 7 mn to be disbursed over a two-year period. The US Agency for International Development (USAID) has shifted its assistance to top gear infusing US$ 7 mn to be disbursed over a two-year period. Projects ranging from human development, […]
Weekly Confession
The Sri Lankan government has relaxed its guard over the souls of its citizens and is giving gifts from the public purse to uphold religious belief instead.The Sri Lankan government has relaxed its guard over the souls of its citizens and is giving gifts from the public purse to uphold religious belief instead. On Thursday, […]
Carrot & Stick
At long last a dedicated institute for higher education in technical subjects has made its way to Cabinet.At long last a dedicated institute for higher education in technical subjects has made its way to Cabinet. “The proposal for the Institute of Technology in Moratuwa is now before Cabinet,” said Secretary to the Ministry of Vocational […]
Dropping the Bar
Despite some of the best environmental standards in the region, Sri Lanka may do better to set its sights on less rigorous regulations that it actually can achieve.Despite some of the best environmental standards in the region, Sri Lanka may do better to set its sights on less rigorous regulations that it actually can achieve. […]
Getting Better
The BBB+ (sri) rated People’s Bank has wiped off its negative networth in March, but is still short of Rs. 11 bn to meet minimum capital requirements. The BBB+ (sri) rated People’s Bank has wiped off its negative networth in March, but is still short of Rs. 11 bn to meet minimum capital requirements. Desperate […]
Light Harvest
Ceylon Tobacco will pilot an effort to harvest energy off trees in a joint dendro power project with Lanka Transformers, due to get off ground in August.Ceylon Tobacco will pilot an effort to harvest energy off trees in a joint dendro power project with Lanka Transformers, due to get off ground in August. The slender […]