Category: Industry
Worker Rule
The newly minted labour compensation formula is likely to be amended, after union agitation to leave it flexible for negotiation.Under proposed changes, all firms governed by a collective agreement, with a profit in excess of Rs.100 mn, will not be subject to the 30 month compensation ceiling.rn rnIt will be left to the Labour Commissioners […]
Within The Ranks
Police inspectors and sub-inspectors are tipped to take home an additional Rs. 900 every month above their salaries, calculated as set out in the 2004 budget.rnrnA committee appointed by Finance Minister K. N. Choksy to look into raising salaries of the Police force came back with the decision on Tuesday.rn rnHowever, the recommended increment is […]
Ground Work
The consortium led by Asia Capital will start due diligence work on Thursday, to revive the trouble Pramuka Savings & Development Bank.The start date follows another round of meetings with Central Bank authorities on Wednesday.rn rnThe Central Bank allowed Pramuka to resume business on January 22, subject a lengthy list of conditions, which includes a […]
Double Booking
SriLankan Airlines will link Hayderabad, the capital of the Southern Indian State of Andhra Pradesh, with Colombo as part of its twin destination holiday package in February.ldblquote The airline will promote Sri Lanka in Andhra Pradesh. Apart from promoting India as a tourist destination, SriLankan will also promote Hyderabad in particular around its route network, […]
Take Home
Microsoft could couple a home edition license of its new Office 2003 software package free with every corporate license it sells in Sri Lanka. The incentive is meant to popularise the use of original software in the local personal computer (PC) population, as Microsoft plans to set up shop here in Sri Lanka.rn rnThe software […]
Standard Rates
The Tourist board is drawing up standards for emerging niche areas like Ayurveda, eco-tourism and spas, to certify and rank tourist hotels and resorts.Modelled on similar experiences in places like Costa Rica, where resorts are ranked on their eco-friendliness, Sri Lanka is trying to raise the profile of its tourism products.rn rnThe Tourist Board is […]
Open Arms
Sri Lanka and Bangladesh will dismantle all non-tariff barriers blocking trade between the countries, as a first step to a Preferential Trade Agreement (PTA). ldblquote The two countries decided last week in Dhaka, to dismantle all non tariff barriers with immediate effect, dblquote said Secretary, Ministry of Commerce, Harsha Wickramasinghe.rn rnThe identification and removal of […]
Soothing Balm
Finance Minister K N Choksy has appointed a committee to look into raising salaries of the Police force.Salaries of the armed forces and the police, were revised upwards from January, as part of an overall increment for government employees.rn rnBut the police force is not too happy with the 10 percent or Rs. 1,250 increment. […]
Port of Call
The Sri Lanka Ports Authority (SLPA) has set sail a proposal that will allow it to operate ports in foreign shores.SLPA Chairman, Dr. Parakrama Dissanayake told Lanka Business Online on Monday that the Prime Minister had approved the proposal by its management.rn rnThe proposal seeks to expand its services to operate overseas ports as part […]
See Me
Dialog GSM says it is planning to create competition in international submarine bandwidth. Last Friday the IFC gave US$ 50 million in loan funding to the fast expanding mobile operator.rn Dialogs parent, Malaysia Telecom, a shareholder of the SEA-ME-WE 3 cable, initially invested US$ 140 million and has committed a further US$ 90 million.rn rnIFCs […]
Alternate Landings
The Board of Investment will call for bids to develop the countrys first alternate airport on a lquote Design Build Turnkey model, in two weeks.A pre-feasibility has been done, but the new developer will be responsible for detailed designs, procurement and building of the airport.rn rnIn building jargon, the owners, in this case the Sri […]
Road Show
The Supreme Court made history this week, rapping the Road Development Authority (RDA) for deviating from its original route for the Southern highway, bypassing laws protecting the environment.rnrnThis was the first time the Sri Lankan law has brought to book a state firm for violation of environmental laws. rn rnThe RDA was taken to courts […]