Category: Industry
Gaining Altitude
Making a modest come back after a disastrous year, SriLankan Airlines on Wednesday reported a Rs. 1.4 bn post-tax profit for the financial year ending March 2002, from a Rs.5.8 bn net loss in 2001.The Group, which includes SriLankan Catering, made an accumulative profit of Rs.2.0 bn. rnrnFollowing terror attacks of 9/11 and July 24, […]
Golf In Paradise
While, golf will remain the on the main menue, AmCham (American Chamber of Commerce), the tournaments organisers, will be busy serving up potential investment opportunities in Sri Lanka. rnldblquote We are working on a theme of lquote Peace in Sri Lanka and golf in paradise, dblquote says Susantha Pinto, Chairman of AmChams Golf Committee at […]
Carrots For Sale
Talks to woo back SLT quote s Japanese partner NTT, have resurfaced once again, with both parties keen to strike a fresh pact.rn rnNTT, which owns a 35 percent stake in SLT, lost its management contract Monday. SLT also lost its monopoly on international voice calls on Monday.The government controls 61.5 percent of the telecom […]
Rough Ride
The government was earlier planning to sell the bus companies on the Colombo bourse on Wednesday. rnrnPolicy Planning Ministry Advisor R Paskaralingam told Lanka Business Online that the sale would however go through as planned, but prospective bidders have sought extra time to arrange finances. rnrnldblquote By extending the deadline, we will also advertise for […]
Hitting The Roof
The overall increase hovers around 30 percent, some motorists face higher premiums of up to 75 percent, while third party cover has doubled by 100 percent. rnrnFollowing intense discussion between the Insurance Board of Sri Lanka (IBSL) and the industry, the watchdog agreed to deregulate motor tariffs from January 1. rnrnBut tariffs were not revised, […]
SLT will not renew NTT
SLT announced that the management agreement that was in force since August 1997 will not be renewed after it expires on August 5. rnrnThe SLT board decision to terminate the agreement had been take as far back as February. NTT communications acquired a 35 percent stake in SLT in 1997. The company also took over […]
Hatching up at the nursery
At one time he used to collect a list of customers needing service in the morning. But now he gets an SMS message whenever a customer in his areas has a sudden problem. rnrnWithin seconds he is speeding to the Gestetner customer needing attention. rnrnMissed calls have become a thing of the past. After the […]
HDFC aims for Rs. 2 bn
Housing Development Finance Corporation (HDFC) says it will raise more funds from mortgage-backed securities following the runaway success of the first two tranches. rn rnLast week it raised Rs. 250 mn from DFCC, Commercial Bank and Union Assurance.Earlier this year it raised Rs.500 mn from National Savings Bank. rnrnPlacing agent Capital Alliance says the latest […]
HSBC at the back end
Its credit card infrastructure is capable of handling 300,000 cardholders. rnrnOfficials say banks that wish to offer cards to customers can issue cards under their own brand, using HSBC facilities. rnrnldblquote Since we have the infrastructure which can handle a volume three times of the volume we have now we are now looking at anyone […]
Bumpy Ride
Prospective buyers are expressing reservations over government plans to hold majority stakes in the regional bus companies to be sold next week.The 13 regional bus companies are due to trade on the Colombo Stock Exchange on Wednesday, with the government continuing to hold a majority 51 percent stake. rnrnThe government expects to inject an estimated […]
Exp.Aug05
Sri Lanka Telecom quote s (SLT) Japanese partner Nippon Telephone & Telegraph Co. has asked its employees to leave Sri Lanka this weekend, after failing to negotiate a fresh deal with the government.rn rnNTT quote s management contract with SLT expires on August 5, after the government informed the Japanese partners in February of its […]
Hello There
The telecom sector will see sweeping reforms shortly including the liberalisation of international gateway as well as access to new entrants to both fixed and mobile services to improve coverage in rural areas, officials at the Policy Development Ministry said.