Category: Industry
In Breeding
National Development Bank (NDB) is expecting a green light to an amendment to its Act to merge with its commercial banking subsidiary NDB Bank. National Development Bank (NDB) is expecting a green light to an amendment to its Act to merge with its commercial banking subsidiary NDB Bank. The bill, submitted as an urgent one […]
SriLankan Airlines reported record earnings growth but warned high fuel prices would reduce profits this year.
SriLankan Airlines reported record earnings growth but warned high fuel prices would reduce profits this year.SriLankan Airlines reported record earnings growth but warned high fuel prices would reduce profits this year. The national carrier that uses the Colombo airport as a hub saw post tax profits climb to Rs.4.3 billion with an ROE of 88 […]
Rude Shock
Sri Lanka hikes prices for diesel and petrol, to ease the strain on the government coffers, as world crude prices keep steady at US$ 48 per barrel. Sri Lanka hikes prices for diesel and petrol, to ease the strain on the government coffers, as world crude prices keep steady at US$ 48 per barrel. Petrol […]
Unchanged Melody
Sri Lankans may be avid fans of Baywatch dubbed in Sinhala and Sex and the City on Sundays, but divorce and pre-marital sex are still a big no no.Sri Lankans may be avid fans of Baywatch dubbed in Sinhala and Sex and the City on Sundays, but divorce and pre-marital sex are still a big […]
Rising Sun
Sri Lanka has won three additional air frequencies to Japan, under the recently concluded ministerial meetings.Since Japan’s Narita airport is nearing capacity, the Japanese Aviation authorities have allowed three additional frequencies to Kansai Airport, Osaka (the industrial city of Japan), the Sri Lankan Foreign Ministry said Friday. Japanese arrivals last year were around 17,000 and […]
Rolling Out
A Cabinet paper to clear India’s Telemetro Rail Corp., (TRC) to carry out a feasibility study on a proposed light transit rail is due before policy makers shortly. Western Region Development Ministry says its is working with the Highways Ministry and the Ministry of Transport to draft the Cabinet paper to clear TRC to carry […]
Clear Skies
SriLankan Airlines inked a collective bargaining pact with its cabin crew endings months of hard bargaining, which included a lightening strike in May.SriLankan Airlines inked a collective bargaining pact with its cabin crew endings months of hard bargaining, which included a lightening strike in May. The national carrier’s 650 strong unionised cabin crew, took just […]
Giant Octopus
The UK’s top accounting heavyweights are in exploratory talks for a strategic consolidation, but management accountants would still need to get additional qualifications to sign off a company’s balance sheet.The UK’s top accounting heavyweights are in exploratory talks for a strategic consolidation, but management accountants would still need to get additional qualifications to sign off […]
Deposited Trust
Commercial Bank of Ceylon has put aside Rs.25 mn to set up a social responsibility trust to foster community development projects islandwide.Sri Lanka’s most profitable privately held bank said it would contribute one percent of its post tax profits each year to feed the Trust. For the six months ending June 30, the Commercial Bank […]
Potty Project
Colombo city residents won’t have to run outside with a pail of water yet, with the Cabinet clearing a US$ 180 million project to flush out its sewer lines.Colombo city residents won’t have to run outside with a pail of water yet, with the Cabinet clearing a US$ 180 million project to flush out its […]
Offshore Cover
British insurance giant Aviva will send up to 950 more jobs to India and Sri Lanka in 2005, out sourcing its back office and other support functions.British insurance giant Aviva will send up to 950 more jobs to India and Sri Lanka in 2005, out sourcing its back office and other support functions. The jobs […]
Double Celebration
Rising profits from passenger sales, catering, ground handling and an accounting standards change helped SriLankan Airlines buck the international trend and show a 75 percent profit jump last year.Rising profits from passenger sales, catering, ground handling and an accounting standards change helped SriLankan Airlines buck the international trend and show a 75 percent profit jump […]