Category:
Switching Station
Telia AB of Sweden is replacing its representative and the Managing Director in its Sri Lankan venture Suntel Limited from July 1.After four years at the top, Hugo Cederschiold will hand over the reigns of Sri Lankas second largest fixed telephone service provider to Mrs. Lillemor Larsson, from the parent company and a Director on […]
Co-producer
Far from the buzz and the luxuries of a metropolitan city lie the backwater villages of the Uva and Southern Provinces, home to some of the most impoverished people in Sri Lanka. A revolution is sweeping through endash doctored by the Ministry of Rural Economy and funded by a US$ 40 million World Bank soft […]
The Matrix
Sri Lanka has a 45 percent chance of achieving peace within a volatile political situation, which will push the Colombo bourse up by 25 percent to 30 percent.HNB Stockbrokers in their country strategy report ldblquote The Lion Emerges dblquote has come up with a risk matrix and the road map the Colombo market will take.rn […]
Hello Neighbour
Indian telco giant Videsh Sanchar Nigam Limited (VSNL) is seeking the telecom regulators approval to set up a US$ 40 mn venture in Sri Lanka.Initially offering international calls, VSNL Lanka Limited will expand its offering to include other data and voice services later.rn rnThe Board of Investment has forwarded VSNLs proposal to the Telecommunications Regulatory […]
Yawning Gap
The trade deficit widened during the first four months of this year as the import bill galloped ahead of total exports, the Central Bank said Tuesday.The bank said the deficit from January to April rose to US$ 566 mn, from US$ 503 mn during the same quarter last year.rn rnDespite a yawning deficit, the Central […]
Green Rain
International donors wrapped up the two-day Tokyo parley pledging over US$ 4.5 bn in aid over the next four years to rebuild Sri Lanka.The amount includes US$ 1 bn each from Japan and the Asian Development Bank and US$ 293 mn from the European Union (EU).rn rnThe US$ 4.5 bn package spread through to 2006, […]
Hoist the Sails
Port officials on Monday called on Danish firms to build the Oluvil Port, on the East coast of Sri Lanka.The Euro 28 million project will be funded entirely by The Danish International Development Agency (DANIDA).rn rnThe contract will see a 1.5 kilometre breakwater, the roads within the port, an ice plant and cold storage, a […]
Moving Online
SriLankan Airlines is moving its website to a .aero internet domain from its present .lk internet address. .aero is a new Internet domain name (like .com, .net, .org) exclusively reserved for the aviation community, rn rnSriLankan will be among over 3000 names registered with the .aero suffix including, airlines, aviation industry news services, engineering and […]
Pouring Dollars
International donors pledged over US$ 4 bn by way of aid at the Tokyo Conference on Reconstruction and Development of Sri Lanka, which opened on Monday morning.Japan, Sri Lankas largest donor opened the floor by pledging a US$ 1 bn to rebuild the economy.rn rnAsian Development Banks President, Tadao Chino offered another US$ 1 bn […]
DEX Next
The Colombo Stock Exchange is going ahead with the launch of its new Debt Trading Board in June with or without access to the primary market for government debt.The exchange, which has been doing mock runs on the new debt trading system the DEX, says a new proposal to sort out an impasse with the […]
Banks In Mousetrap
Technology is offering opportunities to add value and new services to the local banks both foreign and local banks have started offering Internet banking which they hope will also bring down their operating costs. During a typical mid day in Colombo the traffic comes to a stand still.It is not the time to be running […]
Weir Power
Sri Lankas latest hydro power station is due to be commissioned later this month.Despite a small sluice gate and several working days being swept away, the project managers are confident of keeping to the original schedule.rn rnThe Kukule Ganga is only a tributary of the Kalu Ganga. The riverbanks have been washed away after the […]