Category: Other
Traditional Markets
Every day for twenty-five years Louisa Nona has been coming to the pavement of the Pettah private bus stand with a load of betel leaves to sell.Often she returns home with more left over betel leaves than she could carry.rn rnThings are different these days.rn rnThis has nothing to do with her appearance but everything […]
Ele House Brew
Brewing through the synergies of John Keells and Elephant House is a ready to drink tea product that could hit the local market in end 2003. Tested and developed under the conglomerates tea marketing arm endash Gordon Frazer & Company, the firm is currently testing its brew, sources close to the firm told Lanka Business […]
Boiling Cup
The banking sector is willing to prop up the tea industry by lending up to Rs.1.25 billion to buy teas unsold at weekly auctions.The bail out plan was put together by the newly formed Tea Association of Sri Lanka (TASL), who has to float a new independent firm to utilise the loan. The new firm […]
Sweet Teas
Buyers set aside developments in the Middle East to step up buying at Tuesdays low grown tea auctions, pushing up prices in the process. Brokers said that buyers were paying at least Rs 5.00 over last weeks prices, a welcome development for low grown plantations and leaf suppliers ahead of the Sinhala Tamil New Year. […]
Property Boom
Prime government land could soon be released for development to the private sector under a new plan to put them to more productive use. The government, which is the largest landowner in the country, plans to implement the scheme with donor support.rnA top investment bank has already been given the mandate to come up with […]
Airwaves On Sale
The government is planning to make the process of radio spectrum allocation to telecom firms more transparent in future. With the fast growth in wireless telecoms, some sectors are running out of spectrum space.rnAt one time however government had a policy of not charging high fees for spectrum, based on the principle that high start […]
Expensive Business
Sri Lanka has always been a hot spot for beach lovers. But the trend is changing. Niche tourism markets are starting to make a mark with first signs of the country emerging as a popular eco, adventure and Ayurvedic holiday destination. rnIn the last of a series on the travel and leisure industry, we look […]
Bad Weather
This weeks low grown auction average could slip below Rs.130, down from Rs. 147.46 for February. Brokers say that buyers stepped up orders marginally at the weekly auctions, but preferred to stay at previously low prices.Producers with little choice and desperate to liquidate their stocks to meet payments to leaf suppliers ahead of the Sinhala […]
Conservative Outlook
Peoples Bank however says the Value Added Tax on banks introduced in the budget for this year will add up to over Rs. 600 mn during this financial year.rn rnPeoples Bank posted its highest net profit last year despite providing over Rs. 1.3 bn for possible loan losses.rn rnThe bank said aggressive deposit mobilisation and […]
Hub BIA
The country is readying it self for record tourist arrivals this year with the industry being the first to benefit from the peace dividend. Tour operators are also looking for a large part of that growth to come from the Asian region and also from the big neighbour India.rnHowever, the industry is also concerned about […]
Working Late
Cabinet cleared four amendments to the Shop and Office Act, supporting nighttime employment and an increase in workman compensation.If passed in Parliament in May, shops can remain open past 10 pm, while female workers will be allowed to work late nights, Labour Minister, Mahinda Samarasinghe told journalists.rn rnThe amendments also support employing female staff on […]
Number Hunt
Telecom regulators are proposing a new numbering plan for telephones, which they say, will aid growth in the industry.If implemented the plan will change the countrys phone numbers for the first time in decades.Phone numbers are also a scarce resource the telecom regulator has to manage together with ldblquote rights of way dblquote and the […]