Category: Industry
Watch Out!
As banks embrace sophisticated financial products, making their risk profile more complex, those specialising in custodian and asset management, are most vulnerable to future operational risks, a top Central Bank official said Monday.As banks embrace sophisticated financial products, making their risk profile more complex, those specialising in custodian and asset management, are most vulnerable to […]
All at Sea
The Colombo port will run out of capacity in three years if new terminals are not ready according to a former port chairman.The Colombo port will run out of capacity in three years if new terminals are not ready according to a former port chairman. He said that running out of capacity will mean that […]
Cutting the Wires
Fixed line giant Sri Lanka Telecom together with international chipmaker Intel Corp., will deploy a high speed wireless internet network, with a test service already in operation.Fixed line giant Sri Lanka Telecom together with international chipmaker Intel Corp., will deploy a high speed wireless internet network, with a test service already in operation. Telecom chief […]
Triggered Off
In the wake of another world trade meeting Sri Lanka decides to introduce safeguard laws to shield farmers and industries from rampaging imports. In the wake of another world trade meeting Sri Lanka decides to introduce safeguard laws to shield farmers and industries from rampaging imports. The island, that started opening up in 1977 and […]
Connecting Bangladesh
The SEA-ME-WE4 cable has landed in Bangladesh. This is great news. In this time of off-shoring and Business Process Outsourcing (BPO), a country that is not connected to the outside world through optical fibre cable is at a tremendous disadvantage. Satellite connectivity is simply not enough for participation in the BPO business: the costs are […]
Late Reaction
The government on Friday said it would investigate the damage to a crucial submarine cable connecting the island to the rest of the world, over a year after the incidence. The government on Friday said it would investigate the damage to a crucial submarine cable connecting the island to the rest of the world, over […]
Healthy Option
Small victory for Sri Lanka, with WTO decision to amend the TRIPS, to ensure access to medicines for poorer countries.Small victory for Sri Lanka, with WTO decision to amend the TRIPS, to ensure access to medicines for poorer countries. After years of lobbying, poorer members of the World Trade Organisation (WTO) saw a small victory […]
Discounted Power
President says coal power and upper Kotmale hydro power project are top priority in infrastructure development.President says coal power and upper Kotmale hydro power project are top priority in infrastructure development. Delivering the budget speech, President Mahinda Rajapaksa said “the coal power plant and Upper Kotmale hydro power project will be given highest priority in […]
Safe Deposit
Sri Lanka’s Central Bank is drawing up laws to keep close tabs on companies engaged in transfer of money into the country, an official said.Sri Lanka’s Central Bank is drawing up laws to keep close tabs on companies engaged in transfer of money into the country, an official said. Just under a million of the […]
Paper Power
Sri Lankan importers pay up millions of rupees in penalties every month by not knowing about import regulations, says Customs Department.Sri Lankan importers pay up millions of rupees in penalties every month by not knowing about import regulations, says Customs Department. “Sometimes importers pay around Rs 2 million a month on penalties, due to lack […]
‘s Hemas Holdings checks out of Lihiniya Surf
Hemas Holdings on Tue., quit Associated Hotels Co., Ltd., the owners of Lihiniya Surf Hotel, making a Rs. 30 million capital gain in the process. Hemas Holdings on Tue., quit Associated Hotels Co., Ltd., the owners of Lihiniya Surf Hotel, making a Rs. 30 million capital gain in the process. Around 4.3 million shares held […]
Pumping Money
NEW DELHI, Dec 5 (AFP) – The chairman of Intel, the world’s largest chipmaker, said Monday the company planned to invest more than one billion dollars to expand in India in the next five years, a news report said.NEW DELHI, Dec 5 (AFP) – The chairman of Intel, the world’s largest chipmaker, said Monday the […]