Category: Industry
Chef De Plane
SriLankan Airlines Catering will tap the market for US$ 22.5 million to fund its new in-flight catering kitchen in Katunayake.A Commercial Bank led consortium is to finalise the borrowing plan, repayable over seven years, SriLankan Catering CEO Dilip Nijhawan told Lanka Business OnlineThe automated kitchen will cost a total of about US$ 25 million and […]
Critical Update
The first in a series of Microsoft organised workshops to upgrade IT awareness in Sri Lanka got off this month. Microsoft Country Manager for Sri Lanka Sriyan de Silva Wijeyeratne says the software giant would be rolling out a series of workshops in Colombo and in rural areas with very low IT penetration.rn rnSpecial emphasis […]
Mind Your Manners
The Labour Minister will start a workers trade union school to change attitudes of employers and employees to foster better working relations.Sri Lanka lost around 87,000 man-days to strikes during 2003, while a number of strikes have already taken place within the five months of this year, mostly among essential services in the public sector.rn […]
Comfort Zone
Leasing specialist, Ceylease Financial Services, has secured a BBB-(sri) national rating for its long term senior debt, from Fitch Ratings Lanka.A BBB-(sri) or triple B minus rating denotes a low expectation of credit risk. It reflects the firms ability to meet timely payments, but its exposure to external economic changes may impair this capacity, Fitch […]
Pyramid Warning
The Sri Lanka Banks Association (SLBA) warned the public not to invest in get-rich-quick pyramid schemes, which may result in losses.Pyramid schemes are money making methods that have one person recruiting several others, with each person paying a recruitment fee, or overpriced goods.rn rnThe build up of the network of participants, starting from one person, […]
Changing Winds
Shifting its revenue balance away from interest-income, Seylan Bank will introduce new fee-based products to its current product offer. SeyLink, its version of bancassurance was launched this week in this effort, with its group company Ceylinco Life, to offer life assurance and other life related products to customers in over 60 branches.rn rnThe service has […]
Seamless Exit
Emirates, the Dubai-based international airline, rolled out its new global electronic ticketing system last week, ushering in coupon-free travel to and from Colombo and 26 other destinations throughout its global network. This will provide Emirates passengers travelling to and from Sri Lanka with a convenient, secure and paper-less ticket option for the first time.rn rnEmirates […]
Distant Lights
Light House Hotel is hoping to double its earnings for the current financial, though somewhat restrained by limitations in room capacity, a broker report says.Earnings by Light House grew steadily during the last couple of years and the nine months results of the financial year 2004 have already hit the full year 2003 levels.rn rnldblquote […]
Running Late
The government component in the proposed Colombo South Harbour projects has propelled to about US$ 300 million from around US$ 220 million quoted earlier.The new Freedom Alliance Government is expected to start courting bilateral donors for the funds by June.rn rnThe additional costs are to cover reclamation work in the proposed port, space that will […]
Upside Down
The government is taking a second look at the labour retrenchment package due to stiff opposition from unions and employers, a top minister said.The previous government pushed through a labour retrenchment formula together with an insurance scheme in the guise of an 18-month dole.rn rnIn the run up to Aprils polls, the former Labour Minister […]
Steady Walk
A growth in fee-based income and faster recoveries helped the Bank of Ceylon double its bottomline for the quarter ending March 31, 2004.The state-run banks net profits jumped 109.6 percent to Rs. 371 mn, over Rs. 177 mn reported during the corresponding period 2003.rn rnBut the banks revenue was flat during the year at Rs. […]
Staying On Top
Management experts say the rapidly changing business environment is pushing organizations to constantly restructure to stay ahead.Companies in Sri Lanka they say need to focus more on the special skills of people to be competitive in the global economy.rn rnldblquote Leadership, innovation and entrepreneurship are the areas we need to improve ourselves in. Historically we […]