Category: Industry
Rates Raised
The Monetary Board raised its short term interest rates by 25 basis points and opted to pursue open market operations more aggressively to curb spiralling inflation. The Monetary Board raised its short term interest rates by 25 basis points and opted to pursue open market operations more aggressively to curb spiralling inflation. The Central Bank […]
Law to revamp Tourist Board with private sector seats, may get Parliament nod
New laws to revamp the Tourist Board and get the private sector involved in spending marketing dollars, may get the Parliament go-ahead next week, despite opposition.New laws to revamp the Tourist Board and get the private sector involved in spending marketing dollars, may get the Parliament go-ahead next week, despite opposition. The new Tourism Development […]
Off the Hook
Fixed line telecom operators will see a drop in their costs per line with rollout of their new CDMA networks.Fixed line telecom operators will see a drop in their costs per line with rollout of their new CDMA networks. CDMA or Code Division Multiple Access standard is a wireless communication technology developed initially for mobile […]
‘s tsunami-hit tourism industry
Sri Lanka will spend 7.3 million dollars to woo high-spending holiday makers from Europe and neighbouring India to fill hotel rooms left empty after the December tsunamis, officials said Wednesday.Sri Lanka will spend 7.3 million dollars to woo high-spending holiday makers from Europe and neighbouring India to fill hotel rooms left empty after the December […]
US boost for Sri Lanka’s tsunami-hit tourism industry
Sri Lanka will spend 7.3 million dollars to woo high-spending holiday makers from Europe and neighbouring India to fill hotel rooms left empty after the December tsunamis, officials said Wednesday.Sri Lanka will spend 7.3 million dollars to woo high-spending holiday makers from Europe and neighbouring India to fill hotel rooms left empty after the December […]
Home Loans
First Ratings Tuesday gave HDFC Bank’s housing loan securitization trust an AA- (sri) rating for its capacity to meet interest payments and principal repayments.First Ratings Tuesday gave HDFC Bank’s housing loan securitization trust an AA- (sri) rating for its capacity to meet interest payments and principal repayments. The rating applies to the Rs. 506 mn […]
Carrot and Stick
Inland Revenue is finalising procedures to issue Gold and Silver cards to reward good tax payers.Inland Revenue is finalising procedures to issue Gold and Silver cards to reward good tax payers. “We will carry a paper notice soon asking people to apply for the cards,” said Commissioner General of Inland Revenue, R P L Weerasinghe. […]
Wrong Number
Net revenues from international telecom services are dropping- one of the unseen downside effects of liberalizing the international voice market.Net revenues from international telecom services are dropping- one of the unseen downside effects of liberalizing the international voice market. Overseas call revenues minus what the island pays for terminating calls abroad dropped from US$ 43 […]
One Down
The District Court vacated one of the three injunctions issued against the ICT Agency’s rural telecom licensing process Tuesday.The District Court vacated one of the three injunctions issued against the ICT Agency’s rural telecom licensing process Tuesday. The country’s seven network operators took the caretakers of the government’s eSri Lanka initiative to courts over the […]
Deal Maker
State owned Ceypetco is looking at rolling out its own lubricant brand, even as Caltex tries to clinch another exclusive distribution deal for its fuel sheds in 2006.State owned Ceypetco is looking at rolling out its own lubricant brand, even as Caltex tries to clinch another exclusive distribution deal for its fuel sheds in 2006. […]
Slippery Deals
The government is in the final stages of negotiation with a US based company interested in building a new oil refinery adjoining the one it operates on the outskirts of the capital.The government is in the final stages of negotiation with a US based company interested in building a new oil refinery adjoining the one […]
Punters’ Day
Analysts expect a market correction in the coming weeks after the galloping Colombo bourse hit an all time high on Friday. Analysts expect a market correction in the coming weeks after the galloping Colombo bourse hit an all time high on Friday. The rally was sustained by medium capitalized stocks that were snatched up by […]