Category: Industry
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]