Category: Industry
Final Run
Gulf Air said Monday that they would quit Sri Lanka by mid March this year, as soaring oil prices and stiff competition from other Middle East carriers puts the squeeze on operations.Gulf Air said Monday that they would quit Sri Lanka by mid March this year, as soaring oil prices and stiff competition from other […]
Hollow Tone
Sri Lanka Telecom’s group net profits fell 43 percent for the year ended Dec.31, 2004, dragged down by tsunami related costs and a new levy on international calls. Sri Lanka Telecom’s group net profits fell 43 percent for the year ended Dec. 31, 2004, dragged down by tsunami related costs and a new levy on […]
All for One
The International Accounting Standards Board (IASB) said countries would benefit by adopting International Accounting Standards. The International Accounting Standards Board (IASB) said countries would benefit by adopting International Accounting Standards. Uniform standards can help investors compare accounts and aid local companies to access international markets. “We have to come up with one single set of […]
Painkillers
State owned Ceypetco says the Treasury will settle Rs.6 bn outstanding in subsidy claims this year, even as deferred payments to Iran fall due in July.State owned Ceypetco says the Treasury will settle Rs. 6 bn outstanding in subsidy claims this year, even as deferred payments to Iran fall due in July. Not allowed to […]
Shifting Sideways
The Asian Development Bank has reallocated US$ 7 mn from a Rural Finance Sector Development Project in Sri Lanka to provide emergency microcredit to tsunami affected people in the country.The Asian Development Bank has reallocated US$ 7 mn from a Rural Finance Sector Development Project in Sri Lanka to provide emergency microcredit to tsunami affected […]
Local Options
Sri Lanka can give India a run in the battle for global outsourcing space, with local IT workers staying longer in a single job than their Indian counterparts.Sri Lanka can give India a run in the battle for global outsourcing space, with local IT workers staying longer in a single job than their Indian counterparts. […]
Flying Free
With the government delaying picking a second carrier to fly international routes, possible contenders are eyeing alternate options to fly from Sri Lanka.With the government delaying picking a second carrier to fly international routes, possible contenders are eyeing alternate options to fly from Sri Lanka. In April last year, SriLankan Airline’s monopoly on international routes […]
Snuffed Out
A woman was killed by a train Tuesday on a coastal track in Sri Lanka reopened after more than 1,000 people died when eight coaches were swept away in the December tsunamis, police said.Restarting the Ocean Queen service became a symbol of the island nation’s rebuilding efforts after the devastation caused by the tsunamis, which […]
Forgive Us
Sri Lanka’s finance minister said Monday that the island has accepted debt moratoriums offered by creditor nations following December’s devastating tsunami.Sri Lanka’s finance minister said Monday that the island has accepted debt moratoriums offered by creditor nations following December’s devastating tsunami. “We have written to all the governments that we will be accepting their debt […]
Star Struck
Telecom regulator Aruna Amarasekera was injured and rushed off to hospital on Monday, after an unknown person threw a brick into his office.Telecom regulator Aruna Amarasekera was injured and rushed off to hospital on Monday, after an unknown person threw a brick into his office. The skirmish took place around 1.30 pm, when someone half […]
The Lotus Eaters
Lives could have been saved and property damaged minimized if Sri Lanka had an early hazard warning system and a system to evacuate people to prevent the tsunami hazard becoming a disaster.Lives could have been saved and property damaged minimized if Sri Lanka had an early hazard warning system and a system to evacuate people […]
Here We Go Again
People’s Bank is to receive a Rs.8 billion capital injection over the next four years as part of a restructuring program that will keep full ownership with the State.People’s Bank is to receive a Rs. 8 billion capital injection over the next four years as part of a restructuring program that will keep full ownership […]