Category: Industry
Stuck in Traffic
Transport sector analysts say the government’s latest strategy to introduce air-conditioned double-decker buses and add 2000 forty-seater buses will not help ease the urban traffic problem.Transport sector analysts say the government’s latest strategy to introduce air-conditioned double-decker buses and add 2000 forty-seater buses will not help ease the urban traffic problem. Proposed fleet increases and […]
At a Rate
Lanka Ratings, the second credit ratings firm to offer ratings in Sri Lanka says adoption of BASEL II rules and making credit ratings mandatory for financial institutions is likely to create activity in the sector.Lanka Ratings, the second credit ratings firm to offer ratings in Sri Lanka says adoption of BASEL II rules and making […]
Flying High
Sri Lanka’s Commercial Bank said Monday that it posted a 50 percent growth in post tax profits for the three-months to Sept 2005.Sri Lanka’s Commercial Bank said Monday that it posted a 50 percent growth in post tax profits for the three-months to Sept 2005. Group net profit for the third quarter was Rs.827.4 million […]
IDD Nanny
Sri Lanka’s telecom watchdog will block international direct dialing (IDD) access to twelve countries from Tuesday to prevent ‘modem hijacking’ and internet scams, an official said Sunday.Sri Lanka’s telecom watchdog will block international direct dialing (IDD) access to twelve countries from Tuesday to prevent ‘modem hijacking’ and internet scams, an official said Sunday. The three […]
Hogwash!
Sri Lanka Telecom has turned down a request to block international calls to 12 countries to prevent modem hijacking and internet porn scams.Sri Lanka Telecom has turned down a request to block international calls to 12 countries to prevent modem hijacking and internet porn scams. The telecom watchdog asked SLT to block calls for a […]
Want Now!
Health sector trade unions will call off their strike tomorrow (Saturday) but are threatening another disruption from November 9, if demands are not met.Health sector trade unions will call off their strike tomorrow (Saturday) but are threatening another disruption from November 9, if demands are not met. “We will stop the strike tomorrow at 7.00 […]
Poor Credit
International micro finance experts recommend that donors put the breaks on funding microfinance in Sri Lanka, as system unsustainable.International micro finance experts recommend that donors put the breaks on funding microfinance in Sri Lanka, as system unsustainable. “Given the plethora of organisations, many mushrooming more after the tsunami, we are telling donors to take a […]
Fly Over
Sri Lanka’s Health Ministry allocates Rs 250 million as initial funding for bird-flue prevention programme. Sri Lanka’s Health Ministry allocates Rs 250 million as initial funding for bird-flue prevention programme. “The prevention programme will increase our capabilities to detect bird flue by increasing laboratory facilities and testing facilities,” said Director General of the Department of […]
Smooth Sailing
Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit.Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit. Post tax profits for the three months to Sept.30 rose to Rs. 730 million […]
Skidding Off
Sri Lanka government shelves private sector funded oil refinery project in Sapugaskanda under trade union pressure.Sri Lanka government shelves private sector funded oil refinery project in Sapugaskanda under trade union pressure. Last week, Cabinet gave the green light for a US$ 800 million oil refinery project financed by US company Global Energy Industrial Operations. Global […]
Light Sentence
Sri Lanka’s insurance watchdog is asking market players to develop more products to cover against natural perils after last year’s tsunami left behind US$ 130 million worth of claims.Sri Lanka’s insurance watchdog is asking market players to develop more products to cover against natural perils after last year’s tsunami left behind US$ 130 million worth […]
False Alarm
Ceylon Petroleum Corporation trade unions say they will not go on strike over a new refinery project, pending a meeting with Premier Mahinda Rajapakse.Ceylon Petroleum Corporation trade unions say they will not go on strike over a new refinery project, pending a meeting with Premier Mahinda Rajapakse. “We objected because we were not fully aware […]