Category: Industry
In-Flight Bid
Singapores Changi Airport has put an unsolicited bid to take up a 60 percent stake in Airport Aviation Services Ltd (AASL).The bid comes after Changi Airport Chairman, Boon Swan Foo showed interest in managing and developing some of Sri Lankas airports.rn rnIn a meeting with BOI Chairman Arjunna Mahendra recently, Foo had shown interest in […]
Security Link
The US will step in with technical assistance to implement the lquote US Container Security Act in Sri Lanka, an initiative sparked by security jitters over shipments to the US.rnrn rnA Memorandum of Understanding (MOU) on the Technical assistance was signed Wednesday between the Government and the US Embassy.rn rnUS based Aerospace Services International Inc. […]
Whizzing Through
The UDA has short listed six parties, one of whom will undertake the construction of a mass transit network for Colombo. The mass transport system will stretch along Galle Road and reach the airport and the outskirts of Colombo city.rn rnOfficials hope to flag off the project in early 2004, but say will first have […]
Holding Hands
The Comprehensive Economic Partnership Agreement (CEPA) now being negotiated with the islands giant neighbour could see Sri Lankas e-government policies tilting in line with Indias already prevalent citizen services and trade facilitating systems.The partnership seeks to remove trade, services movement and investment barriers between the two economies, creating a familiar environment for businesses and professionals […]
Take One
Logiwiz, a unit of the Hayleys Group, opened shop recently to offer tailor made solutions, end-to-end logistics management and supply chain solutions to the growing manufacturing businesses.rn rnSet up under the Groups transportation arm, Maritime Holdings, the conglomerate infused Rs. 300 mn for the first phase to put up a 100,000 square foot top-of-the-range distribution […]
No Kidding
Mobile phones arent the only things Nokia is into, the cell phone giant is now gearing to wire up Sri Lankas telco industry. On Tuesday Nokia said it had signed up with Sri Lankas diversified giant John Keells (JKH) to push its range of GSM and other next generation cellular network infrastructure solutions here and […]
Safe House
The Labour Ministry will tap into a pool of Rs. 6.5 bn in dormant EPF monies, for seed capital to set up an Unemployment Insurance Fund for retrenched workers.ldblquote The Rs.3 bn fund will be topped up with an employer contribution of 0.15 percent and employee contribution of 0.1 percent on the last drawn salary […]
Big House
A US$ 1 billion housing project is being cemented to construct 100,000 homes, with the three locations already short listed for development. Amona Peace Development Private Limited, the BOI joint venture between Amona Sdn Bhd., and a Lankan entrepreneur will initially develop a 720 unit apartment complex at an estimated cost of US $ 10 […]
Zipped Up
The Commercial Bank of Ceylon has pumped in Rs. 100 mn to upgraded its IT infrastructure and processes, with one of the latest retail banking solutions in the world, to underpin future growth and expansion initiatives.The bank has installed the ICBS (International Comprehensive Banking System) Version 7.2 developed by Fiserv, which has been designed to […]
VRS Watch
Sri Lanka Telecom is offering counselling services and tips on investing in financial products to its 1,300 employees, who took up an early retirement scheme this year.Outgoing employees took home between Rs.150,000 to Rs. 1.1 mn under the package, SLT said in a statement on Monday.rn rnStaff opting for the VRS qualified for a rental […]
Luxury Bells
A Sri Lankan undertaker that launched a luxury funeral service for those seeking a prestigious and safe final journey is offering the deluxe package for weddings too, a press report said Sunday.The funeral firm which imported one of the worlds safest cars to drive the dear departed to the final resting place is also hiring […]
Welfare Cap
S M Tennakoon, a senior public official has been appointed as Chairman to the new Welfare Benefits Board.Tennakoon functioned as the Government Agent in Matale and Kandy Districts and served later as Secretary to the Ministry of Mahaweli Development. rn rnThe Finance Ministry says Tennakoon will also function as the Boards Commissioner.rn rnOther Board members […]