Category: Industry
Risk Free
KILINOCHCHI – Sri Lanka’s Tamil Tigers have no security cameras or guards protecting their bank. Yet they say it is the safest place to deposit cash and gold both in times of war and of peace. KILINOCHCHI – Sri Lanka’s Tamil Tigers have no security cameras or guards protecting their bank. Yet they say it […]
‘s Through
ICICI Bank, India’s second-largest bank by assets, has received a provisional banking license from the Central Bank of Sri Lanka to commence operations in the island, an ICICI Bank official said Wednesday.ICICI Bank, India’s second-largest bank by assets, has received a provisional banking license from the Central Bank of Sri Lanka to commence operations in […]
Dark Horse
Sri Lanka’s chronic budget deficit, weak structural reforms and political instability, will show up prominently, as the island seeks a sovereign rating from three top international rating agencies later this year, analysts said.Sri Lanka’s chronic budget deficit, weak structural reforms and political instability, will show up prominently, as the island seeks a sovereign rating from […]
Shooting Stars
JAFFNA – The city of Jaffna was the epicentre of some of the bloodiest battles in Sri Lanka’s drawn out ethnic conflict, but the bombs have given way to a new explosion in trade after a truce.JAFFNA – The city of Jaffna was the epicentre of some of the bloodiest battles in Sri Lanka’s drawn […]
Made in China
China based PC maker the Lenovo Group says Sri Lanka’s early stage IT market offered high growth potential for hardware manufacturers.China based PC maker the Lenovo Group says Sri Lanka’s early stage IT market offered high growth potential for hardware manufacturers. The Lenovo Group’s take over of IBM’s PC division making it the third largest […]
Double Whammy!
SriLankan Airlines group net profits slumped 75 percent last year, dragged down by hefty oil bill and a fall in passenger numbers following the Dec. 26 tsunami, the airline said Monday.SriLankan Airlines group net profits slumped 75 percent last year, dragged down by hefty oil bill and a fall in passenger numbers following the Dec. […]
Corporate Funding
United States Trade and Development Agency (USTDA) signs over grants worth US$ 2.5 million for Sri Lanka. United States Trade and Development Agency (USTDA) signs over grants worth US$ 2.5 million for Sri Lanka. On Monday the USTDA signed over grant funding for six development projects in Sri Lanka. Over US$ 2 million is for […]
Norachcholai Tripped?
CEB engineers have sought assurances from UNP that a proposed coal power plant in Puttlam won’t be scraped as its board of directors objected to the General Manager taking the lead on the project.CEB engineers have sought assurances from UNP that a proposed coal power plant in Puttlam won’t be scraped as its board of […]
Sharp Edge
The Association of Charted Certified Accountants (ACCA) said their national conference will take place later this month.The Association of Charted Certified Accountants (ACCA) said their national conference will take place later this month. ACCA hosted a sustainability awards earlier in the year to reward CSR reporting among top corporate which they say encouraged them to […]
On the Road
Cabinet this week approved US$ 310 million in donor funding to reconstruct 1137 kilometers of road and 25 major bridges in the tsunami affected coastal regions of Sri Lanka.Cabinet this week approved US$ 310 million in donor funding to reconstruct 1137 kilometers of road and 25 major bridges in the tsunami affected coastal regions of […]
Tax Watcher
The Finance Ministry on Thursday appointed former Supreme Court Judge Maxwell Parakrama Paranagama as Sri Lanka’s first tax ombudsman.The Finance Ministry on Thursday appointed former Supreme Court Judge Maxwell Parakrama Paranagama as Sri Lanka’s first tax ombudsman. A Ministry statement said the appointment was in keeping with the 2005 budget proposal to appoint an independent […]
No Thanks
Sri Lankans are increasingly bombarded with a plethora of financial products and services, but locals still shy away from the capital markets for their monetary needs, a Central Bank led consumer finance survey has highlighted.Sri Lankans are increasingly bombarded with a plethora of financial products and services, but locals still shy away from the capital […]