Category: Industry
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 […]
Up on a Hill
Hunas Falls is dressing up its hill country hotel, to get a booking in the Small Luxury Hotels of the world catalogue. The Jetwing managed hotel is spending some Rs.25 mn of the Hunas Falls internal funds to upgrade and expand 20 of its 31 rooms to mini-suites.rn rnAlong with the standard features added with […]
Dollar Challenge
Sri Lanka has been asked to submit its proposal promoting economic growth to draw down funds from the Millennium Challenge Corp.s (MCC) billion-dollar kitty.The MCC is a U.S. Government corporation created in January, to work with developing countries by providing grants through the Millennium Challenge Account (MCA).rn rnSri Lanka is one of the 16 countries […]
Lost Kitty
Sri Lanka Telecom (SLT) says it has just plugged in a Rs. 60 mn revenue seepage, which was discovered after its new US$ 20 mn billing system kicked in.The telecom giant says around four million minutes of international inpayment calls were not billed, while nearly 3,000 customers were not sent invoices.rn rnLucky subscribers who got […]
Fairy Godmother
The Treasury is considering the possibility of taking on the cost of thermal electricity generation to ease the CEBs cash crunch.CEB sources say the Treasury is now considering, among other measures, the feasibility of taking on the cost of thermal electricity generation to ease the CEBs financial difficulties.rn rnldblquote This cost will be treated like […]
Boom Times
The Seylan Merchant Bank (SMB) Groups earnings doubled for the first quarter ending March 31, boosted by its booming leasing portfolio.In results released this week, SMB Group reported a consolidated post-tax profit of Rs 10.4 million, up 100.30 per cent from the Rs 5.2 million reported in the first quarter of 2003.rn rnNet Interest Income […]
Hello There
Competition just got louder in the local telecom industry with Indian telco giant VSNL stepping up its operations in Sri Lanka. VSNL on Monday formally launched its international data and voice services here for the corporate and retail markets.rn rnHowever, VSNL has been busy behind the scene capturing overseas voice business since last year, when […]
Clean Deal
Commercial Bank of Ceylon will scrap the commission charged on cheques drawn on its outstation branches starting June 1, 2004.This means that recipients of Commercial Banks outstation cheques will henceforth receive the full face value on these cheques.rn rnThis move supplements the existing practice where the commission on outstation cheques of other banks deposited with […]
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 […]