Category: Industry
Performance Linked
July 21, 2012 (LBO) – Sri Lanka’s ‘pay for performance’ schemes should be carefully designed to be fair and transparent and linked to a firm’s short and long term goals while incorporating the organization’s core values, top corporate executive said. Performance based pay schemes can also drive employees to focus excessively on hitting targets to […]
Sri Lanka starts construction of stalled high rise for Hyatt hotel
July 20, 2012 (LBO) – Sri Lanka has re-started the construction of a stalled 43-story high rise in the capital Colombo with a new company taking over assets, which will house a Hyatt branded hotel, a statement said. It could house 600 people seated, or 1,000 standing. The hotel will have 54 suites, 265 ‘King’ […]
Clear Path
July 20, 2012 (LBO) – LankaClear Private Limited, Sri Lanka’s main cheque and electronic clearing house, is spending 300 million rupees to deploy a nationwide common card and payment switch that allows customers to use any bank teller machine, officials said. The company, which is jointly owned by the Central Bank and local commercial banks, […]
Road Building
July 20, 2012 (LBO) – A 24 kilometre road in Sri Lanka’s from Maha Oya to Aralaganwila will be built under a scheme where a 500 million dollar bank credit will be used by the state road agency fund domestic contractors. Sierra Construction (Pvt) Ltd has got the contract to build the road for 2,363 […]
Express Project
July 19, 2012 (LBO) – Sri Lanka will engage SMEC International (Pty) Ltd, an Australia based consultancy develop an expressway project from the capital Colombo to the central part of the island, to bring in private investment, a minister said. The rest of the Northern Expressway involves connects to Jaffna. A connection is also expected […]
Indians may get freer access to Sri Lanka pepper soon
July 18, 2012 (LBO) – Indian citizens may get freer access to buy Sri Lankan pepper with the prospects of a volume ceiling on trade between the countries being relaxed soon according to a statement made by India’s envoy to Colombo. Rent-seeking Sri Lankan producers were allowed by authorities to have a large negative list […]
Sri Lanka and Vietnam plan preferential trade deal
July 17, 2012 (LBO) – Sri Lanka and Vietnam are moving towards a preferential trade deal removing non-tarrif barriers and increasing improving air links between the two countries, following, the foreign ministry said. Sri Lanka and Vietnam is also co-operating on defence and maritime security, the statement said. Joint Commission meeting of Sri Lanka and […]
Stocked Up
July 17, 2012 (LBO) – London Stock Exchange group said its Millennium Exchange software has been deployed at the Mongolian Stock Exchange, making in the third location to go live with the platform after Italy and South Africa. “The development of stable, efficient and transparent capital markets infrastructure is a vital step in Mongolia’s journey […]
Investment Award
July 17, 2012 (LBO) – NDB Investment Bank, a unit of Sri Lanka’s NDB group said it had been ranked the best investment bank in Sri Lanka by Euromoney, a specialist financial publication in its 2012 awards. NDBIB struck a partnership with DBS Bank Singapore last year. Vajira Kulatilaka, head of NDB group’s investment banking […]
Screech
July 17, 2012 (LBO) – Sri Lanka’s new vehicle registrations plunged 46 percent to 21,587 in June 2012 from a year earlier, with new three wheelers falling 64 percent an analysis by an equities research unit has shown. An analysis of new vehicle registrations by JB Stockbrokers said new car registrations fell 66 percent to […]
Sri Lanka and India economic ties: time running out: envoy
July 16, 2012 (LBO) – While Sri Lanka was delaying the signing of an economic partnership deal, despite India being prepared to offer concessions, similar deals were being rapidly wrapped up with other countries and regions, India’s envoy to Colombo said. Sri Lanka and India worked out a draft agreement for a Comprehensive Economic Partnership […]
Maritime Map
July 15, 2012 (LBO) – Sri Lanka is at the centre of the “next great shift” in the shipping and ship building industry that is underway, the head of the world’s largest classification society said. The island’s location, big port construction projects and plans to expand its hub role, makes it well-placed to emerge as […]