Category: Industry
Bird Business
A top Sri Lankan bird study group is riding the slipstream of seasonal trends to create awareness and fund their research and conservation efforts.rnrn rn rnrnField Ornithological rnGroup of Sri Lanka (FOGSL) has got involved in developing educational seasonal rngreetings cards featuring Birds. Part of the profits will go towards research rnand conservation efforts.rn rn […]
Straight Run
Initial bid papers for the Colombo Katunayake toll road will be on offer in two weeks, with an annuity based financial model for prospective investors, also finalised. Documents are ready for a pre-qualification round, to be open in two weeks to narrow down the interest to six firms, who will then submit full detailed proposals.rn […]
Via Colombo
Middle East based airline, Qatar Airways says it will fly via Colombo on its way to Australia, picking up Indian tourists to fill up its flights. Flights to Australia will take off after rounding up bilateral aviation negotiations between Sri Lanka and Qatar in March 04.rnrnThe transit operation from Colombo to Australia is part of […]
Re-engineering
The Public Enterprises Reform Commission (PERC) on Wednesday said it would call on prospective investors to stake their claim in State Engineering Corp., (SEC) by March 2004. ldblquote The divestiture process will take around 20 weeks and it is expected to call for proposals from strategic investors in March 2004, dblquote PERC said.rn rnThe government […]
Calling Bell
Sri Lanka Telecoms efforts to take over Lanka Bell got delayed by over a week, but the incumbent operators team negotiating the deal say they have secured commitments to sell for up to 75 per cent of the wireless operatoration. rnrnSLT was to finalise a price for the stake in Lanka Bell at a Board […]
No Problem
The first test run of the Central Banks Scripless Securities Settlement System (SSSS) went thought without a hitch on Tuesday.The first set of firms participating in the test routed routine transactions through the system, parallel to their present manual trading process.rn rnThree more groups will test the system in the coming weeks, facilitating a pre […]
Cloud No. 9
Dubai based Emirates Airlines will invest US$ 1.8 bn into glamorising its new fleet of Airbus 340-500s as it revamps its long-haul flights.The service began December 1, when 14-hour non-stop flights to and from Sydney, Australia took off, with plans to fly to North America (New York) from 2004.rn rnThe new aircraft carry 12 First […]
Flight Delay
Friction between the President and the Premier has pushed back a December deadline to offer private investors a stake in the Bandaranaike International Airport.Privatisation of the Bandaranaike International Airport has been on the cards as a phase three of ongoing expansion efforts, on the basis of a private-public partnership.rn rnThis includes expansion of the terminal […]
Alternative Routes
Software giant Microsoft, is setting up a fully-fledged local arm to offer products at discount rates and to set up a development unit.Microsoft Sri Lanka Ltd will distribute specific licence products and the firm will also be making the world standard lquote Windows software available in both the Sinhalese and Tamil languages under its Language […]
Tele-Learning
Despite an over 90 percent literacy rate, Sri Lanka ironically enough, still ranks among the lowest in the world in terms of access to higher education.rn rnThough 200,000 people sit the A/L exam every year, only about 90,000 qualify and just two-percent actually enter the hallowed halls of learning.rn rnThis is as against regional average […]
Get Closer
In a statement late Friday, the Sri Lanka Accounting & Auditing Standards Monitoring Board (SLAAMB) says the Ceylon Theatres Group failed to consolidate Lanka Ceramics financial statements during the financial years ending March 31, 2002 and 2003.rn rnThe auditors have qualified their report in this respect, SLAAMB says. rn rnldblquote Users of the financial statements […]
Coming Soon
Central Bank Governor A S Jayawardene says it is a prudential requirement, which increases transparency and accountability.rn rnSo far a handful of local banks have gone public with their credit ratings from Fitch Ratings Lanka Ltd.rn rnOf the few, Citibank NAs local arm and National Savings Bank sports a SL AAA rating from Fitch. Citibank […]