Category:
Steaming Ahead
The economy notched a trade surplus in August, driven by a strong performance in the textile and apparel sectors, the Central Bank said Tuesday.rn rnThe bank said the surplus of US$ 110 mn in August came thanks to US$ 568 in export revenues and US$ 458 mn in import costs.rn rnHowever, export earnings for the […]
Air Pocket
Under the airport expansion plan covering some 700 acres, the two runways will have to be constructed leaving a 1.8 km distance. The distance is necessary to allow two of the biggest aircrafts to land at the same time.These jumbo planes are capable of carrying up to 500 passengers in addition to cargo.rn rnThe airport […]
Snail Road
The government plans to award the contract to build the Colombo-Matara superhighway later this month, top officials said.Transport Minister Tilak Marapane says construction on the long protracted Southern highway is likely to begin as early as November.rn rnThe Manila based Asian Development Bank has come forward with a US$ 90 mn loan while the government […]
Logica wins RTGS for the Central Bank
UK based Logica Ltd. has won an international competitive bid, to implement a Real Time Gross Settlement (RTGS) and a Scripless Securities Settlement system for the Central Bank.rnrnThe mammoth 9 million dollar deal will be funded through an existing 30 million dollar World Bank loan awarded for Central Bank reforms.rn rnBacked by nearly 25 years […]
The cost of industrial waste
Haycarb, an industrial waste management company, is saving millions in electricity bills every year. The company is a world leader in the activated carbon business.Small carbon pellets produced by Haycarb are used as a purifier of gas and water. Its also in high demand in the mining industry. But activated carbon is a messy industry. […]
Invest in people
Most of the successful companies, which have developed global brands have come from the US, and Europe where there is a bigger emphasis on talent and intellectual assets.rn rnThe Developing World has very few brands, which go global compared to countries like America and Japan. Being competitive in the local market and creating something of […]
SLT to buy Telstra stake of Mobitel
Sri Lanka Telecom has agreed to buy out the foreign shareholder in its associate company, Mobitel for 9.6 million dollars.Australian telecom giant Telstra, which owns a majority sixty percent stake in Mobitel, will sell the stake to SLT who owns the balance 40 percent stake. rn rnIndustry watchers say the two companies have already signed […]
Telecom: Super Regulator and new law firm
Economic Reforms Ministry is seeking a consultant to draft laws for a super regulator for telecom, cable and broadcast media.The call for Expressions of Interest went out on Friday after the Mass Communications Ministry announced plans to set up the super regulator.rn rnThe planned legislation will create a competition centered, transparent and simple regulatory framework, […]
Central Bankquote s serendipity
The Industries sector, which accounts for over a quarter of the island quote s GDP, contracted by over one percent in the second quarter according to the latest Central Bank data.rn rnIndustries were hard hid by both lack of demand in the international markets and problems at home like the power-cuts. rn rnldblquote Industrial sector […]
High Roads
Officials say a breakthrough in discussions with the Board of Infrastructure Investment (BII) is imminent, with the deal being finalised as early next week. rn rnWork on the highway began on a design and build basis two years ago by a Korean based construction company Keangnam, on a Treasury allocation of little over Rs. 10 […]
Inter-Connect
Sri Lanka Telecom on Friday sealed a deal to buy out Telstras 60 percent stake in cellular operator Mobitel.SLT currently owns 40 percent of Mobitel, which is worth around Rs.188 mn.rn rnSources close to the deal said SLT drove a hard bargain to pick up the remaining parcel at around US$ 9.6 mn.rn rnDespite signing […]
Lap One
The Science & Technology Ministry sent out calls on Friday for a consultant to lay the groundwork for a telecomm and ICT regulator.Under the procurement procedure, the consultant has to write out the terms of reference or TOR for the new super regulator.rn rnThe TOR will set the base for another consultant to draw up […]