Category: Industry
German Escapade
rnSri Lankan’s CEO Peter Hill and Head of Commercial G.T. Jayaseelan are to meet with leading tour operators on a fact-finding mission to review pricing and ascertain demand prior to resuming operations. rnrnThe visit will also attempt to validate claims by the industry of insufficient capacity to satisfy the demand from German and Italian leisure […]
Loosening Up
Recently, several commercial banks have pointed out the severe restrictions imposed by the forex holding limit, impedes the growth of a local derivatives and futures market. rnrnThe Central Bank has considered these concerns and plans to replace the restriction on holdings with a risk based capital requirement, as a prudence measure to prevent capital been […]
Sticking To It
Cellular operators stuck to their guns to go ahead with a tariff increase, despite the telecom watchdog hotly denying the revision got its approval. rnMass Communications Minister Imthiaz Bakeer Markar also stepped into the fray to stand by his regulator, telling parliamentarians that the controversial revision was illegal. rnrnCellular operators raised tariffs yesterday, after informing […]
Fast Track
SLT has tied up with Alcatel to upgrade its network with ADSL or Asymmetric Digital Subscriber Line technology, amid mounting demand for speedy data and Internet services. rnADSL turns ordinary telephone lines into high-speed digital channels and allows access to the Internet and multi-media services at up to 10 times the speed achieved across copper […]
Ripping Spree
An lquote anti-piracy strategy quote is on the cards as a counter offensive to pirating, promoting fair market access and adequate copyright laws. rnrnWatchdog arm of the Recording Industry Association of America (RICCA), the IFPI, an international organisation battling music piracy worldwide, has turned its efforts to Sri Lanka. rnrnThe organisation quote s Regional Coordinator […]
Limping Back
Capitalising on the recent peace dividends, SriLankan Airlines is looking at the possibility of recommencing domestic air services to the North. rnThe airline quote s technical team together with the Civil Aviation Authority officials will fly to Jaffna tomorrow to assess the ground situation, SriLankan said. rnrnSriLankan Airlines has shown signs of a rapid recovery, […]
Six Stars
The recent hike, effective from April 1 has put hotels into a separate category, at a rate of up to Rs. 10.90 per unit of electricity. rnrnThis is over and above the previous net tariff rate of Rs. 5.44 a unit. rnrnHotels have been classified under the industrial tariff category since 1994, providing hotels with […]
Sea Battle Continues
In early March the WRS was completely scrapped by the London Lloyds quote War Risk Rating Committee, following heavy diplomatic lobbying and an independent security audit on Colombo port. rnrnAll members of the India, Pakistan, Bangladesh, and Ceylon Conference (IPBCC) have scrapped the WRS on the Colombo/Europe route, but some members continue to charge it […]
Learning On Screen
Widening the local education base, international governing body Edexcel is moving beyond the London O Level and A Level to make inroads into vocational education.
New Look NDB
NDB is also planning to diversify its leasing business to under-banked Maldives with the expectation of boosting its forex earnings. rnrnldblquote We will be the first leasing company in Maldives, which is a dollarised economy. If the tourism industry recovers in the near future, there would be a wide scope for the leasing business dblquote […]
P2P
Peer Review is a popular practice in developed markets, where the auditing industry ensures that best practice is maintained by subjecting the audits carried out by one firm to a review by another member firm. rnrnThe recent Enron collapse in USA, brought the peer review programmes to limelight with the emphasis on growing instances of […]
Dressing Up
A steering committee set up under the aegis of the Finance Ministry is also scouting for restructuring expertise to help guide the process. rnldblquote The restructuring proposal has been sent for cabinet approval. Once the government quote s direction is clear, we will get an investment banker in to do a valuation, dblquote SLIC Chairman, […]