Category: Industry
Tour Advisory
A top-rung tourism taskforce is already monitoring the ongoing political chaos and to map out salvage plans in the event of a worsening crisis. ldblquote We had a meeting in the trade today and what we have decided for the moment is to allow normal operations to continue. So far there is no serious cause […]
No-Fly Zone
Britain has issued a travel advisory to Sri Lanka and the up-coming tour of the English cricket team put off as the country slipped further into political chaos.rnrn rnThe warning to avoid travelling to the country follows the Presidents sacking of three key Ministers on Tuesday, and the taking over of the portfolios of Defence, […]
High Altitude
lquote Countdown to takeoff; passengers are now boarding for the first commercial Hot Air Balloon flights, taking off over Sigiriya this Saturday.The first commercial balloon flights were given the go-ahead on Tuesday, to start flights over some of Sri Lankas key tourist towns.rn rnldblquote We hope to commence our inaugural flights over Dambulla-Sigiriya and from […]
Starlight
Dubai-based Emirates Airline has set its sights on the stars — literally — to help it offer new levels of comfort and enjoyment to travellers on ultra-longhaul flights from next month.In an industry first, an image of the night sky above Dubai, complete with twinkling constellations, will be shown on the ceiling panels above their […]
Big Deal
Prime Minister Ranil Wickremasinghes US visit will bring Sri Lanka once step closer to building a free trade area spanning two continents.The Comprehensive Economic Co-operation Agreement (CEPA) between India and the Sri Lanka which is due to be signed in less than six months, will further integrate Sri Lankas economic ties with her giant neighbour.rn […]
Report Card
Effective steps to create a tax compliance culture, focus revenue generation measures where there is a capacity to pay and to target relief measures where they would have the greatest impact, are among a comprehensive set of recommendations by the Institute of Chartered Accountants for the forthcoming national budget.The countrys premier national accountancy body has […]
Second Round
IT start up Interblocs has raised over a million dollars in a second round of financing to expand operations overseas.Interblocs specialises in developing software for payment solutions to the financial sector.rn rnA Malaysian IT company has invested the money to take a 20 percent stake.rn rnThe IT startup says they now have a valuation close […]
Long Life
Union Assurance Ltd has reported an upsurge in net profits, largely aided by its booming investment portfolio.For the nine months ending September 2003, the insurance firm says its net profits shot up 2,300 percent to Rs. 99.7 mn.rn rnThe investment portfolio which belongs to its Life and General fund, grew 31.7 percent to Rs. 3.4 […]
Gold Road
The government is tipped to raise money from Indian financial institutions to fund the 25 km Colombo-Katunayake Expressway.ldblquote The Indian bond markets are booming and we will most certainly look at raising money in Indian capital markets dblquote , Board of Investment Chairman, Arjunna Mahendran told Lanka Business Online.rn rnThe Colombo-Katunayake highway endash the countrys […]
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 […]
Cargo Linking
The blueprint to construct Sri Lankas first dry port at Ragama endash a one-stop logistical hub for container handling, linking up to the seaport by rail, has gone up for cabinet approval. The dry port will ease traffic congestion on Colombos main roads, diverting some 21 percent of domestic container traffic.rn rnAlso called Inland Container […]
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 […]