Category: Industry
Rooms Available
Around 60 State owned rest houses, previously managed by the Urban Development Authority and other government agencies, are scheduled for a change of management under a cluster-lease concept.These rest houses that are scattered all over the country will be parcelled into clusters of three or four and leased out for a 30 year period to […]
Coastal Trip
The Asian Development Bank has come forward with a US$ 20 mn loan to uplift the living standards of people in the Eastern Province.The loan, for the North East Coastal Community Development Project, will help conflict-affected coastal communities in the three eastern districts – Trincomalee, Batticaloa, and Ampara – improve livelihoods on a sustainable basis […]
Private Garage
State owned Lakdiva Engineering Ltd. endash repair and re-conditioning arm for state buses, is to be put up for private investment, as part of the re-haul of the Central Transport Board. Lakdiva Engineering is entirely state owned, and currently operates a factory that repairs and re-conditions bus bodies belonging to the state owned Bus Companies. […]
Tele Bond
Sri Lanka Telecom hopes to tap the overseas market to raise up to US$ 100 mn via bonds for its expansion plans next year.The issue, which is likely to come out next March or April, will be the first overseas debt paper to be offered by any Sri Lankan firm.rn rnldblquote The size of the […]
Population Pills
Sales of the morning-after pill are soaring at 30,000 packs a month, as lquote Postinor takes over from males reluctant to snap on that condom.rn Only 3.3 percent of males use condoms, with birth control largely geared toward females – an imbalance the Family Planning Association is trying to alterrn rnldblquote Males still think family […]
Short Break
Resort and spa operator Banyan Tree says it is temporarily putting on hold its investment plans for Sri Lanka because of the countrys political crisisIt had been intending to spend a large chunk of the proceeds from its stock market listing next year in Sri Lanka, Singapores Channel News Asia reported late Tuesday.rn rnBanyan Tree […]
Missing Links
Sri Lanka needs an estimated US$ 150 mn over the next four years to re-haul a dilapidated bridge network, many over 50 to 100 years old.rnrn The Road Development Authority is negotiating soft loans from Japan and the Saudi Fund to upgrade 15 bridges identified on priority basis.rn rnldblquote We have identified a list of […]
Switching Networks
Sri Lanka Telecom is expected to come out with a price tag for Lanka Bell next week, after concluding a due diligence on the small fixed access operator.The incumbent operator has been actively pursuing Lanka Bell and slipped an engagement ring for a due diligence study in October.rn rnSLT is asking full control or at […]
Glorious Colombo
Prime Colombo land including the Colombo port should be available for private sector developers according to a Colombo City Master Plan to be unveiled soon. The first land to come up for private sector development is however a nine-acre plot in Colombo Fort for commercial development.rn rnIt is not unusual for old buildings to be […]
Natures Reward
The Association of Chartered Certified Accountants of the UK introduced their environment and social sustainability reporting awards to the country recently.ACCA says both listed and unlisted companies can submit their annual reports for the first awards starting next year.rn rnThe awards system comes on the back of growing pressure from stakeholders for greater disclosure in […]
Four Stars
A four-member team from Sri Lanka Insurance Corp.s technical partner ING, started work this week to give the former state insurance giant a facelift.The team will initially give tech support for re-insurance, product development, actuarial services and IT, SLIC Director Damien Fernando told Lanka Business Online.rn rnldblquote They started work on Monday and will be […]
The Battle Begins
In the lquote good old days – a by gone era, where kids played with simple toys like paper guns and ran riot in the house chasing a sibling or friend and called it cops and robbers or some war game are over. Times and the technology has changed.Today combat games are played with laser […]