Category: Industry
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 […]
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 […]
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 […]
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 […]
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 […]
Study Hall
The Institute of Personnel Management (IPM) is trying to leverage growing local and regional interest in people management to position Sri Lanka as a human resource (HR) activities hub in the region. IPM will host its annual lquote HR Conference and Service Providers Exhibition at the BMICH on May 19th and 20th followed by the […]
Interesting News
Commercial Bank of Ceylon saw its earnings take a dip during the first quarter of 2004, largely due to losses from its primary dealer subsidiary and higher taxes.Group profits were down 6.9 percent to Rs. 319 mn for the three month period to March 31, from Rs. 343 mn reported during the same period 2003.rn […]
Fire Fire!
The Insurance Board of Sri Lanka (IBSL) is studying the Sri Lankan industry and international practices to modernize and reform the insurance regulatory framework in the country.IBSL is trying to bring modern regulatory practices to an industry that has seen little regulatory supervision during the last half century.rnWhen the IBSL took over, there were concerns […]
Profit Centre
Moving ever closer to a long proposed IPO, Software solutions developer Virtusa Corporation recently completed its Series D round of financing, securing US $20 million. The fourth round of funding for Virtusa was led by Focus Ventures, with participation from existing investors Sigma partners, Charles River Ventures and Globespan Capital Partners.rn rnThe fresh infusion increases […]