Category: Industry
Worthy Cause
The local business community is joining country musicians from two continents next month, to raise funds for three-rural schools in Hambantota.Back in a new lquote wild west format, Sri Lankas longest-running country and folk music concert hopes to raise Rs.250,000 to build a reading room/library facility in three selected schools.rn rnThe Sunday Times Business Club […]
Interesting Option
Peoples Bank says it will consider lowering interest rates on some Rs. 12 billion outstanding from the Ceylon Electricity Board, if a proposed debt-restructuring plan seeking payment guarantees for part of the loan goes through.The debt restructuring plan covers a Rs.7 billion medium term loan, to be eventually settled by tapping into CEBs monthly collections.rn […]
Rural Outreach
Once a week, Shantha embarks on a journey; a journey that takes him across rivers, paddy fields, mountains and over 20 kilometers away from his home to a place where he can use a computer, surf the internet and check his Hotmail account.Shantha is only one in a thousand other Sri Lankan youths confined to […]
On the Rebound
By end November this year, 445,000 tourists flocked into the country and hotels were running out of rooms, as Sri Lanka inched closer to the elusive half a million target. This was still up on the 350,988 visitors as at end November last year, with the tourism sector confident that it will reach about 550,000 […]
Building Bubble
A new 210 unit, 21 floor apartment complex is in the making under a Rs. 5 bn Board of Investment (BOI) venture between Hong Kong based Sunshine (Far East) Ltd.and Premier Pacific in Sri Lanka. The Premier Pacific Topaz (Pvt) Ltd., project due for completion in early 2006 has mapped out 16 different layouts ranging […]
Spending Spree
Commercial Banks Automated Teller Machine (ATM) network disbursed a record Rs 300 million over the three-day weekend in December, the bank said this week. Commercial Banks Chief Manager – Operations Palitha Perera said 87,000 cash withdrawals and 55,000 non cash transactions were recorded over the December 6-8 weekend from the Banks 153 ATMs.rn rnThe banks […]
Bird Business
A top Sri Lankan bird study group is riding the slipstream of seasonal trends to create awareness and fund their research and conservation efforts.rnrn rn rnrnField Ornithological rnGroup of Sri Lanka (FOGSL) has got involved in developing educational seasonal rngreetings cards featuring Birds. Part of the profits will go towards research rnand conservation efforts.rn rn […]
Via Colombo
Middle East based airline, Qatar Airways says it will fly via Colombo on its way to Australia, picking up Indian tourists to fill up its flights. Flights to Australia will take off after rounding up bilateral aviation negotiations between Sri Lanka and Qatar in March 04.rnrnThe transit operation from Colombo to Australia is part of […]
Straight Run
Initial bid papers for the Colombo Katunayake toll road will be on offer in two weeks, with an annuity based financial model for prospective investors, also finalised. Documents are ready for a pre-qualification round, to be open in two weeks to narrow down the interest to six firms, who will then submit full detailed proposals.rn […]
Re-engineering
The Public Enterprises Reform Commission (PERC) on Wednesday said it would call on prospective investors to stake their claim in State Engineering Corp., (SEC) by March 2004. ldblquote The divestiture process will take around 20 weeks and it is expected to call for proposals from strategic investors in March 2004, dblquote PERC said.rn rnThe government […]
Calling Bell
Sri Lanka Telecoms efforts to take over Lanka Bell got delayed by over a week, but the incumbent operators team negotiating the deal say they have secured commitments to sell for up to 75 per cent of the wireless operatoration. rnrnSLT was to finalise a price for the stake in Lanka Bell at a Board […]
No Problem
The first test run of the Central Banks Scripless Securities Settlement System (SSSS) went thought without a hitch on Tuesday.The first set of firms participating in the test routed routine transactions through the system, parallel to their present manual trading process.rn rnThree more groups will test the system in the coming weeks, facilitating a pre […]