Category: Industry
MICE Map
SriLankan Airlines launched their first MICE Travel brochure today, tapping into a niche market of lquote meetings, exhibitions and conference travellers. Driven by the belief that Sri Lanka can offer much more than the sun, surf and sand, hard driven efforts have been underway by the industry to tap into high-spending corporate tourists rn rnThe […]
Rolling Dice
The government has shelved plans to privatise the state owned Development Lotteries Board following opposition from President Chandrika Kumaratunga.ldblquote The privatisation process has been put off, instead we are hoping to re-organise Development Lotteries Board by introducing innovative products to popularise lotteries in Sri Lanka, dblquote Chairman, J K Fernando told journalists on Monday.rn rnHowever, […]
Fine Tuning
A team from the IMF is expected soon to start final negotiations on a structural adjustment loan expected by March this year.The International Monetary Fund team will arrive on January 20, to negotiate the final terms of a long-term loan.The IMF board could approve the loan in March if the terms are finalized during the […]
Runaway Runway
The government is reconsidering its plans to build a second runway at the Katunayake international airport.The proposal ran into trouble due to heavy protests by residents who would loose their homes in land acquisitions for the new runway.rn rnPlans for the second runway at the countries only international airport were drafted to make the country […]
Holiday Travel
Three firms including Singapore based SBS Transit has shown interest to buy up a stake in the remaining seven state bus companies. The deadline to submit proposals for a 39% stake in the bus companies has also been put off to January 16, an extension by the Public Enterprises Reform Commission (PERC) to factor in […]
Ringing Loud
Sri Lanka Telecom on Thursday reported a 38 percent surge in after tax profits for the nine months ending September 30, 2002.SLTs net profits touched Rs. 2.425 mn up from Rs. 1.763 mn in 2001. Its revenues rose 15 percent to Rs.18.579 mn as against Rs. 16.159 mn in the same period 2001.rn rnOperating profits […]
Rolling Business
Bluechip firms are top contenders for a stake in the Sri Lankan lquote sweep industry and are among 30 parties who have taken bid documents, their ticket to battle for the management of offline lotteries of the National Lotteries Board.The Public Enterprises Reform Commission (PERC) in the spirit of the past holidays has extended a […]
Yankee Ties
Eleven local Information, Communication and Technology (ICT) firms will head for the US next week, a mission to woo new business and investment. The weeklong USAID programme will take the local troop to top Information Technology (IT) firms and other IT driven industries in the Washington and Silicone Valley areas.rn rnMeetings will include an appointment […]
Paid Pensions
The new contributory pension fund for public servants has not got parliamentary approval as unions opposing the deal have sought legal action.The present Employees Provident Fund Act will be amended to include the new Public Service Provident Fund.rn rnThe new pension scheme will kick in from January 1, 2003, with new recruits to the public […]
Air Lock
Talks that started last year with US based Lockheed Martin for Air Traffic management, could bear fruit with an MOU to be signed shortly with the Board of Investment. In 2002, the BOI got an unsolicited proposal from a consortium including Lockheed Martin & Airways to take over the upper airspace management.rn rnThe proposal also […]
Another Trophy
HSBC added another trophy to its acquisition collection by taking over the sole agent for Diners Club credit cards in Sri Lanka and the Maldives.Diners Club is the worlds first credit card.The Citigroup of the USA currently handles its operations. A high-end American credit card, Diners Club is used mainly as a corporate entertainment card.rn […]
On Top Gear
Villa Ocean View, a member of the Ceyko Group, has completed a Rs. 100 mn refurbishment programme in time to ride the wave of resurgence in tourism.The Wadduwa hotel said it has quadrupled the capacity of its banquet hall from 150 to 600 guests, refurbished its 67-room superior wing, re-laid the deck of its swimming […]