Category: Industry
Chug Chug
The Transport Ministry is going on reverse gear, repelling the Railways Authority Act and replacing it with fresh legislation.Transport Minister Felix Perera told Lanka Business Online that Cabinet on Wednesday had given him the go ahead to repeal the Railway Authority Act and introduce new legislation.rn rnThe new Act will look to revert to the […]
Harvesting Time
Sri Lanka Telecom Ltd. may reap substantially higher revenue if an international call routing agreement with Indias Bharat Sanchar Nigam Ltd. takes effect, Asia Securities said in a research report Thursday.Earnings for the fixed-line operator could increase by at least Rs.500 mn in 2004 if Bharat Sanchar Nigam makes use of the international call routing […]
Pricey Jam
Traffic jams in and around Colombo are not just driving people insane with frustration; its costing the country a thumping Rs 20 bn a year.ldblquote The congestion cost in Sri Lanka is around Rs 20 bn a year and this is just a conservative estimate, dblquote Professor Amal Kumarage from the National Transport Commission (NTC) […]
Repair Job
Local transport authorities want to scrap the current system of private mass transport for a more service oriented and easy to monitor system. The National Transport Commission (NTC) says reliability of services of private buses has deteriorated, while idling buses, rivalry and accidents have increased.rn rnContrary to popular belief, even productivity in the private mass […]
Talk Shop
Insurance consultant Chandra Fernando thought very little when he signed up for a Dialog GSM connection on March 30, 1995.The 54 year old Fernando recounts that he just walked into the Dialog Arcadia Shop out of curiosity, after hearing about the new GSM cellular network.rn rnHe said he was lured by a pretty sales girl […]
Mobile Mania
With taxes slashed and handsets smuggled in, Sri Lanka is becoming a mobile phone paradise where even the islands prisons are awash with cell phones.With the price of handsets falling by about 35 percent this year, owning a mobile has never been so affordable in Sri Lanka, where vegetable vendors, taxi drivers and pavement hawkers […]
Blowing Cold
Is South Asia actually heading towards an area of free trade or towards free floating discussions for a never never land? SARRCs committee of experts met for a third round of discussions on taking the South Asia Free Trade Agreement (SAFTA) forward, earlier this month in Colombo.rn rnThe next round of talks is fixed for […]
Seat Dump
SriLankan Airlines, which plans to add around half a dozen aircraft to its fleet over the next year, says subsidized carriers are dumping seats to the market.The airline CEO told the 9th LBR-LBO CEO forum the country should focus on a ldblquote managed open skies dblquote policy to make Sri Lanka an air hub instead […]
Forest Fog
Developing countries like Sri Lanka exploit natural resources to grow exports that help pay off foreign debt.Encroachment of forests like Sinharaja by tea plantations and timber firms had to be tolerated to boost exports and generate jobs.rn rnAn Act passed by the US government to help conservation and reduce debt is offering a solution. rn […]
Watch Out
The Central Bank came out strongly against pyramid style investments, warning public not to park their savings in quick money making schemes.rnrn rnThe banks statement comes afterrnit made a similar warning on Wednesday, rnasking public to be cautious when the opt for high yielding risky investments. rnThe Securities & Exchange Commission too last week issued […]
Jetting Off
Jet Airways Ltd., Indias second- biggest domestic airline by fleet size, said its in talks to sell a stake to potential investors to raise funds to expand.“We are talking to various investors,” Executive Director Saroj Datta said in a telephone interview in Mumbai. “No decision has been made yet,” he said, declining to elaborate.rn rnSingapore […]
Growing Wings
National carrier SriLankan Airlines threw the gauntlet at the hotel industry, saying it was ready to broad base into up-market leisure hotels if local industry didnt make a move on. ldblquote If you dont invest in the industry, this airline will, dblquote warned SriLankan Airlines CEO, Peter Hill addressing corporate heads at the ninth LBO-LBR […]