Category: Industry
Bussing It
An action plan to re-haul bus transport and enforce regulation on a decentralised, largely out-of-control sector, is being rolled out by the National Transport Commission over the next few weeks.ldblquote Buses are a Rs. 30 bn industry and a very large component doesnt have the management and the regulation that it deserves dblquote , Chairman […]
Cooling Summer
The Connaissance Group is to make the best of the hot weather, enticing outbound Indian travellers with a summer promotion at its hotels.The Group is targeting a 5 mn strong Indian outbound market to fill up hotels in an ordinarily slow season, where occupancies hover around 45-50 percent.rn rnrnrnldblquote Outbound travel from India in the […]
New Feather
Sri Lanka has been selected to the 34 member Inter-governmental Group of Experts on International Standards of Accounting & Reporting (ISAR) at a recent UN session.ISAR was created by the Economic & Social Council of the United Nations in 1982, and is serviced by UNCTAD.rn rnIt is the only inter-governmental working group devoted to accounting […]
Very Bad
Central Bank on Wednesday issued a fresh warning against unauthorised deposit taking, as the public continued to chase after higher return for their savings. The top financial sector governing body says some firms are operating regardless of the Banks instructions to stop the illegal practice and continued to offer high interest rates to attract unassuming […]
Talent Spotting
Venture capitalist, Aureos Lanka Advisers, has launched a US$ 10 mn fund to invest in ongoing projects in Sri Lanka and Bangladesh.Formerly known as Ajoyana Fund Management, Aureos plans to invest between US$ 500,000 to US$ 3 mn in a wide array of business activities, the firm said in a statement Tuesday.rn rnThe Fund is […]
Password Protected
Do you have the four-digit PIN code for your ATM or the password to your mail account? Do your know who else has it? Hackers and freely available password hacking software are giving away passwords and all the secrets seemingly locked away safely by the alphanumeric code we call passwords.Venkateh Swaminathan is in Colombo today […]
City Life
Chinese millionaire Tao Shing Pee is 88, but his more than half-a-life-time love affair in tropical Sri Lanka is still going strong endash in fact Tao is willing to lavish more money and attention than ever on his tropical love.rnrn On Tuesday, Tao, know in Sri Lanka for developing rnColombos landmark building – the World […]
Ms. Nurse
The Ministry of Health hired 2,000 new nurses on Monday to ease pressure on public sector demand for trained nursing staff. The country has around 16,000 trained nurses working in the public health sector but there is an immediate shortage of around 5,600 nurses in government hospitals.rn rnThe new appointments will be absorbed by Sri […]
Travel Brews
The idea of a lquote tea resort is growing within Watawala Plantations, to entice high-spending tourists to have a hands-on experience in tea making.Upto 15% of unproductive estate land has been earmarked for the tea resort and will sell rooms to an average US$ 200 per-night. rn rnWatawala Plantations CEO, Vish Govindasami said the firm […]
Right Practice
The CIMA Division Sri Lanka will host its annual conference next week, showcasing success stories of companies that have leveraged best practices to make a dent in the global marketplace. With global best practices a must-have, the conference follows on from last years theme of lquote Repositioning Sri Lanka Globally, with best practices among the […]
Mixed Blessings
Emirates Airlines on Monday announced a fuel surcharge on airline tickets purchased from selected markets, including Sri Lanka.Passengers buying tickets from Sri Lanka, pay an additional Rs.500 for a one-way journey and Rs. 1,000 per return ticket, the airline said.rn rnldblquote Emirates Airline is not implementing across-the-board ticket price surcharges in response to rising fuel […]
Achilles Heel
Sri Lanka Telecom plans to send out the backlog of customer bills from the end of this month, but subscribers will be billed on a shorter cycle.SLTs new US$ 20 mn billing system went through technical glitches in its implementation stage, leaving over 800,000 customers chatting non-stop since last December.rn rnThe new system includes an […]