Category: Industry
Pumped Up
US marine fuel supplier ChemOil signed a deal on Friday to dock at the Colombo Prot, to sell bunker fuel. Lanka Bunker Services, ChemOils BOI (Board of Investment) venture with Sri Lanka Shipping Company Limited (SLSCL) will target the South Indian industrial areas for clients together with vessels calling in at Colombo. rn rnBOI sources […]
Long Haul
Sri Lanka is in the top three alongside Thailand and the Maldives as a tourist hotspot for long-haul travel, but still needs a vital mix of peace, competitive rates and new infrastructure to give it that edge. Right up until last year, an average 300,000 tourists visited the island.This year numbers were expected to reach […]
Big Bite
Commercial Bank of Ceylon Ltd., has recorded a pre-tax profit (before the special Value Added Tax on Profit) of Rs 1.6 billion for the nine months ended September 30, a growth of Rs. 276.5 million or 20.9 per cent over the corresponding period last year.The special Value Added Tax calculated on the basis of 10 […]
Donor Threat
The countrys top multilateral donors warned that economic and political stability are key to get aid following.Sri Lankas top multilateral and bilateral donors have warned that promised record aid flows could fall sharply unless the government stuck to the peace process and carried out key economic reforms.rn rnLenders to the country pledged a mammoth US$ […]
Coming Back
A cultural similarity in the insurance market was a big draw when Life Insurance Corporation of India re-entered the local market.The companys earlier operations were taken over by the government with nationalization of the industry in the sixties.rn rnThe company also had a lot of money left locally to service its existing customers after nationalization, […]
Cyber Sale
The eSri Lanka initiative is expanding the market space for small and medium scale businesses by taking them online. The pilot project under the new ICT Agency will offer SMEs shop space in Cyber space, with each member having their own web page with a company profile, giving details of products for sale with visuals […]
Tech Tutors
The government has tied up with the Carnegie Mellon University of US, to develop sector specific IT programmes. Initially,rnCarnegie Mellons Technology Peace Corps will work with the Science &rnTechnology Ministry to develop ICT (Information Communications and Technology)rnsolutions for the government, the agriculture and the industrial sector. rn CarnegiernMellon has developed the lquote Technology Peace Corps […]
Bad Call
The telecom watchdog on Friday asked Mobitel Lanka Ltd to withdraw its promotional GSM offer, with immediate effect.rnrnrnrnrnrnrnHeadlinernrnrnrnrn The cellular operator onrnTuesday, started trial runs for its GSM service, which offers free calls for allrnsubscribers who sign up during the promotional period.rn At Tuesdays launch,rnMobitel said a fully-fledged commercial launch was pending thernTelecommunications Regulatory Commissions […]
Rich Life
An Indo-Lanka tie up will pump in Rs. 620 mn down Lake Drive in Col., 8 to build 25 fully furnished luxury homes.rnrnThe project will cater to Sri Lankas growing lquote large disposable income population on the look out for serine neighbourhoods to move into. rn rnHallmark Property Co., says each 3000-4000 square foot unit […]
Textbook Takeover
A senior Treasury officialrnsaid Friday, that it would sell 49 percent or 490,000 shares to its currentrnowners, priced at Rs. 86.73 mn per piece.rn A total of Rs. 17.7 mn or 10rnpercent of this will be distributed to its 121 employees on the basis of theirrnindividual entitlement, under an earlier management agreement.rn ldblquote Following protractedrnnegotiations […]
Witch Hunt
Set up two months ago, the Authority is already being flooded with business. Strange, spiritual and otherwise; Most of the business though, is on price and unfair services.rn rnJust last week the CAA flexed its muscle and shot down a request by Shell Gas to jack up the cost of a LPG cylinder by Rs.19.00 […]
Desert Run
Air Sahara will begin charter flights to Colombo from New Delhi on Friday, becoming the first domestic carrier to fly out of India. This follows a recent decision to deregulate Indo-Lanka travel after the last meeting between the Prime Ministers of the two countries.rn rnTravel Director of Air Saharas local agent Jetwing, Sunil Pieris, says […]