Category: Industry
Train Stop
All rail services on the southern coastal belt and the upcountry service have been discontinued indefinitely after an early morning tidal wave wrecked havoc on Sri Lanka’s shore line. All rail services on the southern coastal belt and the upcountry service have been discontinued indefinitely after an early morning tidal wave wrecked havoc on Sri […]
British tourist dies as tidal waves devastate Maldives
A British tourist died when this Indian Ocean paradise of the Maldives was hit by unprecedented tidal waves that flooded two thirds of the capital island and shut the airport, officials said.A British tourist died when this Indian Ocean paradise of the Maldives was hit by unprecedented tidal waves that flooded two thirds of the […]
Tourist board launches evacuation programme, not sure of damage
Sri Lanka’s tourism authorities send rescue vehicles to the Southern parts of the island, to transport tourists from tidal wave zones to safety in Colombo.Sri Lanka’s tourism authorities send rescue vehicles to the Southern parts of the island, to transport tourists from tidal wave zones to safety in Colombo. “We sent 20 vehicles to the […]
Tidal Waves Kill More Than 3,300 in Asia
The world’s most powerful earthquake in 40 years triggered massive tidal waves that slammed into villages and seaside resorts across Asia on Sunday, killing more than 3,300 people in five countries.The world’s most powerful earthquake in 40 years triggered massive tidal waves that slammed into villages and seaside resorts across Asia on Sunday, killing more […]
Flight Schedule
Sri Lanka will soon have to amend its bilateral Air Service Agreements with European countries, as the EU lobbies for a ‘common clause’. Sri Lanka will soon have to amend its bilateral Air Service Agreements with European countries, as the EU lobbies for a ‘common clause’. The clause will allow any European carrier to use […]
Well Oiled
Shares of Lanka IOC(LIOC) closed at Rs 47 after opening at a high of Rs 54 in the morning.Shares of Lanka IOC(LIOC) closed at Rs 47 after opening at a high of Rs 54 in the morning. The shares were issued at Rs 27, giving massive capital gains to subscribers of the LIOC IPO. Meanwhile, […]
Oiling the Market
For the first time in history the market capitalization of the Colombo Stock Exchange (CSE) went over Rs 400 bn on Wednesday. For the first time in history the market capitalization of the Colombo Stock Exchange (CSE) went over Rs 400 bn on Wednesday. The market moved up by Rs 24.5 bn, or 6.5 percent, […]
Makeover Magic
Customs, Excise and Inland Revenue departments are going on an intensive fitness regime next year to beef up tax collection.Customs, Excise and Inland Revenue departments are going on an intensive fitness regime next year to beef up tax collection. “We will strengthen the revenue collection bodies starting with the Inland Revenue and subsequently Customs and […]
Chatting Away – Wrapping Up
Cellular operator Dialog GSM made history when it signed up its 1 mn customer in June, to become the first operator to cross the milestone. Cellular operator Dialog GSM made history when it signed up its 1 mn customer in June, to become the first operator to cross the milestone. The US$ 150 mn operator […]
Big Brother
Sri Lankan authorities are tightening scrutiny on export inflows as the country battles an exchange crisis brought about by falling capital flows and rising imports.Sri Lankan authorities are tightening scrutiny on export inflows as the country battles an exchange crisis brought about by falling capital flows and rising imports. The Department of Exchange Control, an […]
Loanly Treasury – Wrapping Up
The Treasury is planning to issue a fresh US$ 100 mn of commercial bonds next year while giving up on cheaper program loans from lenders.The Treasury is planning to issue a fresh US$ 100 mn of commercial bonds next year while giving up on cheaper program loans from lenders. The government has already issued US$ […]
Indian arrivals to push tourism in 2005?
Tourist arrivals are expected to grow by 20 percent next year fuelled by Indian arrivals and a change of marketing strategy.Tourist arrivals are expected to grow by 20 percent next year fuelled by Indian arrivals and a change of marketing strategy. In November this year India displaced UK as Sri Lanka’s chief tourist market because […]