Category:
Talk Shop
Insurance consultant Chandra Fernando thought very little when he signed up for a Dialog GSM connection on March 30, 1995.The 54 year old Fernando recounts that he just walked into the Dialog Arcadia Shop out of curiosity, after hearing about the new GSM cellular network.rn rnHe said he was lured by a pretty sales girl […]
Lets Chat
The United States says it is keen to pursue a trade pact with Sri Lanka and agreed to meet in October to iron out issues.US Trade Representative, Robert B Zoellick told visiting Sri Lankan Trade Minister Jeyraj Fernandopulle that the TIFA process should be deepened to facilitate business and investment issues between the two countries.rn […]
Call Waiting
Sri Lanka Telecom has picked UBS Warburg and Standard Chartered Bank as arrangers to its upcoming US$ 100 mn bond issue.The five-year loan will carry a fixed interest rate. Mobitel will use up around 65 percent of the bond, and the balance spent to retire some of SLTs existing debts and roll out its network. […]
Blowing Cold
Is South Asia actually heading towards an area of free trade or towards free floating discussions for a never never land? SARRCs committee of experts met for a third round of discussions on taking the South Asia Free Trade Agreement (SAFTA) forward, earlier this month in Colombo.rn rnThe next round of talks is fixed for […]
Mobile Mania
With taxes slashed and handsets smuggled in, Sri Lanka is becoming a mobile phone paradise where even the islands prisons are awash with cell phones.With the price of handsets falling by about 35 percent this year, owning a mobile has never been so affordable in Sri Lanka, where vegetable vendors, taxi drivers and pavement hawkers […]
Wake Up
Sri Lankas top trade chambers have asked the government to wake up to the realities facing the economy and for legislators to stop misbehaving in parliament.The Joint Business Forum or JBiz, says while parliament remains adjourned to accommodate political campaigning for next months Provincial Council polls, legislators are blissfully unaware of lquote adverse international economic […]
Snapped Up
The Central Bank said Monday that it had accepted US$ 144.75 mn worth of two-year bids for the first tranche of the governments US$ 100 mn issue.The bank said it received bids worth US$ 182.25 mn, when the issue opened from June 15-18.rn rnThe offer was linked to the six month London interbank offered rate […]
Seat Dump
SriLankan Airlines, which plans to add around half a dozen aircraft to its fleet over the next year, says subsidized carriers are dumping seats to the market.The airline CEO told the 9th LBR-LBO CEO forum the country should focus on a ldblquote managed open skies dblquote policy to make Sri Lanka an air hub instead […]
Jetting Off
Jet Airways Ltd., Indias second- biggest domestic airline by fleet size, said its in talks to sell a stake to potential investors to raise funds to expand.“We are talking to various investors,” Executive Director Saroj Datta said in a telephone interview in Mumbai. “No decision has been made yet,” he said, declining to elaborate.rn rnSingapore […]
Watch Out
The Central Bank came out strongly against pyramid style investments, warning public not to park their savings in quick money making schemes.rnrn rnThe banks statement comes afterrnit made a similar warning on Wednesday, rnasking public to be cautious when the opt for high yielding risky investments. rnThe Securities & Exchange Commission too last week issued […]
Forest Fog
Developing countries like Sri Lanka exploit natural resources to grow exports that help pay off foreign debt.Encroachment of forests like Sinharaja by tea plantations and timber firms had to be tolerated to boost exports and generate jobs.rn rnAn Act passed by the US government to help conservation and reduce debt is offering a solution. rn […]
Capital Punishment
The government has set up an agency to independently manage commercial enterprises rather than privatize them as critics slammed it saying across the board state capitalism might not be the best answer to address the differing needs of state institutions.Twelve strategically important institutions including state owned banks, utility and transport sector investments have been brought […]