Telco industry losing billions

The telecommunications industry in Sri Lanka is losing nearly Rs. 10 billion annually as a result of international calls being taken using the Voice over IP (VOIP) technology which enables a user to make an IDD call to a telephone via the internet.

Sri Lanka's new mobile phone tariffs kick off

Sri Lanka's telecom regulator is enforcing floor prices and interconnection rates form mobiles from July 15, ending a price war that has put the industry deep in the red, though

HP introduces the most energy-efficient laser printer

HP announced an expanded portfolio of environmentally-responsible imaging and printing products and solutions, including industry-first innovations for small and midsize businesses (SMBs) on July 7, 2010.  

Sri Lanka Spence to put US$78mn in hotels

Sri Lanka's Aitken Spence group is planning to put 78 million US dollars in to the leisure sector after a war ended in Sri Lanka with new hotels in the south western coast being started first, an official said.

Asian Alliance Insurance offers “on line” travel insurance

Ukraine ready to offer Sri Lanka various forms of cooperation

Ukraine is ready to offer Sri Lanka various forms of cooperation primarily in trade and the economic sector, Ukrainian President Viktor Yanukovych said.  Yanukovych announced this today (Wednesday) during a meeting with the President of Sri Lanka Mahinda Rajapaksa, who is on a visit to Ukraine, the press service of the Ukrainian head of state reported.

Otara; her success story

From selling surplus garment items from the boot of her car, to opening up a world renowned clothes store in Sri Lanka, Otara Gunawardene is all about being innovative and creative. Her runway poses, her novel concepts and her notable charity work only add to her achievements. 

Lanka records strong post-war growth

Sri Lanka's economy expanded 7.1 percent during the first quarter of this year, the statistics office said Friday, as the island picks itself up after a long civil war. The growth for the January-March period, up from 1.6 percent at the same point last year, was boosted by expansion in farm produce and services.

EU boosts aid to Sri Lanka

The Delegation of the European Union to Sri Lanka and the Maldives is pleased to announce the allocation of an indicative budget of EUR 60 million (LKR 8.4 billion) in grants, as the second part of the EU Country Strategy for Sri Lanka spanning the 2007-2013 period, for new operations to be committed in the period 2011-2013

Sri Lanka removed from war risk insurance list

London underwriters have removed Sri Lanka from the area listed for war risk insurance following lobbying by the island's government that risks have been eliminated with the end of the ethnic war.

India, Lanka sign 7 pacts

India and Sri Lanka on Wednesday inked seven agreements, including key pacts on security and power, as Colombo reassured New Delhi about its plans to quickly resettle displaced Tamils and to seek a political solution to the ethnic issue

Six banks open in the North

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Sri Lankan airline chief calls for fully liberalized skies with India

Sri Lanka and India should fully liberalize air services within the two countries, further strengthen links between them and set an example to South Asia, the head of the island's state-run national carrier said.

Ceat raises stake in Sri Lanka

Ceat Ltd, said on Friday its Sri Lankan investment arm - Associated Ceat Holdings Company Pvt Ltd (ACHL) - had become a wholly-owned subsidiary following its purchase of the remaining 4.5 million shares in the company.

Lanka, Emirates finalize deal

Sri Lanka's government and Dubai's Emirates Arlines have finalized a deal to buy out its stake in the national carrier, chairman Nishanta Wickremesinghe said. "The deal has been finalized," Wickremesinghe said. "It is between the government and Emirates."

ADB urges rapid reconstruction

The Asian Development Bank (ADB) has urged Sri Lanka to move towards rapid reconstruction of the war devastated areas in the North and East in order for normalcy to be restored and for the people of those areas to experience the fruits of peace. VIDEO   

Finance Act to be amended

Plans are underway to the amend the country’s ‘Finance Act’ in order to bestow more power to the Central Bank to take tough action against rouge institutions which are taking advantage of unsuspecting depositors

Oil drilling begins next Jan

Cairn (India) will drill three wells in block M2 in the Mannar Basin between January – March next year, while Sri Lanka will call international tenders for the rest five blocks within this year, Petroleum Minister Susil Premjayantha said.

Professionals meet and hand over a letter to President

Malaysia relaxes Lankan visa

Malaysia will once again offer transit travelers from Sri Lanka, Pakistan, India and Bangladesh a chance to visit the country without the need for a visa, Deputy Prime Minister Tan Sri Muhyiddin Yassin said.

Unilever’s Latest Campaign Adds Vitality to the North

Surf Excel, one of Unilever Sri Lanka’s key brands, is taking its concept of ‘Dirt is Good’ to the north, where children are most in need of a creative outlet to let their true talent shine through.

Sunlight felicitates winners of its Rs. 125 lakh campaign

Sunlight Arunelle Gelapilla’ makes history as the largest consumer promotion in SL’s FMCG history. The winners of the biggest consumer promotion in Sri Lanka’s FMCG history were felicitated by Sunlight at a ceremony held at Water’s Edge on Tuesday, May 18 2010.  

Sri Lanka gets GSP boost

Sri Lanka received a boost in its efforts to regain the GSP plus trade benefits with the European Union noting significant improvements in the island following the end of the war and indicating it will continue negotiations on the GSP plus issue.

Software piracy worsens; Sri Lanka No. 2 culprit

SL Exports Gain Amid Investor Concern

Lanka to skip hedging costs

Petroleum Industries Minister Susil Premjayantha said Sri Lanka was not likely to pay the huge compensation of US$ 261 million or the equivalent of little over Rs. 30 billion demanded by three foreign banks for the abrogation of the controversial hedging deal with the CPC.

South Asia Not Ready For Single Currency

The South Asian region is not ready to consider the single currency model for its member states, said a senior official of the South Asia Association for Regional Cooperation (SAARC).

New bank

Orion City IT Park welcomes global giant Mphasis

1Goal ‘Education for All’ – Driving a Global Cause