Category: Industry
Hard to Understand
In a country that touts ‘free education’, but where its Central Bank estimates over Rs.5 bn is spent on private tuition at primary and secondary levels, the number of students that master key subjects remain humiliatingly small.In a country that touts ‘free education’, but where its Central Bank estimates over Rs. 5 bn is spent […]
Rail Run
The Railway Dept. says it urgently needs to hike its fares to cushion a 10 percent rise in its recurrent costs. The Railway Dept. says it urgently needs to hike its fares to cushion a 10 percent rise in its recurrent costs. A raised salary bill and higher fuel cost compared to a year ago […]
Red Tape
The Sri Lankan public sector is one of the biggest in the region, with a ratio of 3.9 civil servants to every 100 people, say economists.The Sri Lankan public sector is one of the biggest in the region, with a ratio of 3.9 civil servants to every 100 people, say economists. “Sri Lanka has one […]
Sri Lanka will drum up support for its tourism industry
Sri Lanka will drum up support for its tourism industry, with a band of international percussion artists beating it out in late March.Sri Lanka will drum up support for its tourism industry, with a band of international percussion artists beating it out in late March. The Tourist Board Chairman Udaya Nanayakara hopes the event will […]
New Cap
Hatton National Bank, Sri Lanka’s largest privately held bank, said it was appointing R Theagarajah, as its new Chief Executive Officer from Jan. 1, 2005. Theagarajah, a Senior Deputy General Manager, has also been appointed to the bank’s main board with immediate effect. The bank has also appointed Ratna Sivaratnam – formerly Chairman of Aitken […]
Peddle Power
Bicycles will be brought under the local government’s fold again, with a draft legislation looking to tighten the chains on the industry.Officials say bicycles licenses, which went out of use in the mid 1990s will be brought back, to help regulate users, curb road accidents and the industry. Meanwhile, the draft legislation also hopes make […]
Change of Guard
John Keells Holdings Chairman steps down at the end of next year, paving the way Joint Managing Director Susantha Ratnayake to take over the reigns. John Keells Holdings Chairman steps down at the end of next year, paving the way Joint Managing Director Susantha Ratnayake to take over the reigns. Ajit Gunawardane, the other Joint […]
Look Out!
Service providers from other countries are already banging at Sri Lanka’s door, whether local services providers are ready for foreign competition or not.Service providers from other countries are already banging at Sri Lanka’s door, whether local services providers are ready for foreign competition or not. “We have already got 15 offers for various service sectors […]
Getting Ready
After an exhaustive clean up of its balance sheet, the Merchant Bank of Sri Lanka (MBSL), plans to get an investment grade rating and tap the market for cheaper sources of funds to keep its leasing portfolio ticking.After an exhaustive clean up of its balance sheet, the Merchant Bank of Sri Lanka (MBSL), plans to […]
Credit Slip
The Indian Export Import (EXIM) Bank has called for a corporate guarantee for the US$ 150 million fuel credit line to Sri Lanka.The Indian Export Import (EXIM) Bank has called for a corporate guarantee for the US$ 150 million fuel credit line to Sri Lanka. The new hurdle was introduced to cover a possible default […]
High Street
High pay is keeping them at their posts (bedposts) day after day and they are unlikely to make a career move anytime soon.High pay is keeping them at their posts (bedposts) day after day and they are unlikely to make a career move anytime soon. A future for them still seems blacked out, with most […]
Going Going…
The Inland Revenue says the amnesty applications deadline can be extended after December 31 if the private sector is interested.The Inland Revenue says the amnesty applications deadline can be extended after December 31 if the private sector is interested. “There is no hard and fast rule that we have to close applications by December 31.But […]