Industry

Switching Station

Telia AB of Sweden is replacing its representative and the Managing Director in its Sri Lankan venture Suntel Limited from July 1.After four years at the top, …

Hello Neighbour

Indian telco giant Videsh Sanchar Nigam Limited (VSNL) is seeking the telecom regulators approval to set up a US$ 40 mn venture in Sri Lanka.Initially offering …

Moving Online

SriLankan Airlines is moving its website to a .aero internet domain from its present .lk internet address. .aero is a new Internet domain name (like .com, …

Hoist the Sails

Port officials on Monday called on Danish firms to build the Oluvil Port, on the East coast of Sri Lanka.The Euro 28 million project will be funded entirely by …

Re-routing

The National Transport Commission (NTC) has signed up the Moratuwa University to study the demand for road transport services on inter-provincial …

Healthy Growth

Union Assurance Ltd said Thursday its consolidated net income grew by a healthy 24.4 percent to Rs. 20.7 mn in the first quarter ended March 31, 2003, compared …

Impending Marriage

DFCC Bank has completed due diligence work on MERC Bank and is in the process of firming up the financial bid.Financial analysts expect DFCC to inject up to …

Gas Leak

Pumping life in to its ailing gas conversion and filling business, United Motors will convert its three remaining filling stations into motor shops. rnrnMotor …

Tech Help

Hatton National Bank, the largest private sector commercial bank, is talking to potential foreign investors to take a 30 percent stake in its insurance …

Growing Up

The Seylan Merchant Bank (SMB) Group has reported a net income growth of 28 percent to Rs. 123.5 mn in the first quarter of 2003. Pre and post tax profit …

Peak Load

Intensifying competition in the overseas call market, the telecom regulator is looking at 40 new applicants.Telecommunications Regulatory Commission (TRC) …

Plain Jettison

Airport and Aviation Services (AASL), which runs the countrys airports and air navigation services, is planning to reduce the number of its employees.AASL is …

Tax Miracle

The Finance Minister says plans to reform the countrys tax structure was moving fast as an amnesty drew a record response.Minister K. N. Choksy says the …

Nomad Connect

On the heels of a state policy on spectrum use and the roll out of cheap wireless internet access, Intel launched its new age mobile personal computer. Intels …

Table For Six

Peoples Bank has shortlisted six consultancy firms to carry forward its restructuring plan.The government wants to commercialise the bank as a single unit or …

Safety Valve

Hoarders who played hide and seek with revenue officials have been coming clean in droves in response to the governments tax amnesty, Finance Minister K N …

Slight Dip

Sri Lanka Telecom on Thursday reported lower profits for the first quarter ending March 31, a sign that the opening of the international voice market has …

Under The Banyan

The Deer Park Hotel will only be the first of a number of Banyan Tree Group getaways in Sri Lanka.Nihal Jinasena, Chairman of the Jinasena Group told LBO that …

MICE Lounge

Meetings and conference travelers are thronging to Sri Lanka, overshooting expected targets to 18 percent of all tourist arrivals in 2003.ldblquote Already at …

Call Me

Keen to grow its rural customer base, Hutchison Telecom is offering free incoming calls for a minimum monthly bill of Rs. 499.00.The minimum charge including …