You know that Sri Lanka has a big neighbour... that is concerned with how many Chinese are around in Sri Lanka
Sri Lanka Economy - News & Updates
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You know that Sri Lanka has a big neighbour... that is concerned with how many Chinese are around in Sri Lanka
Lankan Ranger
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BPO, IT ventures to benefit with premium access in Sri Lanka
The growing IT-BPO industry in Colombo offers a unique advantage for Small and Medium Enterprises (SME) to enjoy premium access to Sri Lankas tier one talent pool, Virtusa Vice President and General Manager Madu Ratnayake told Daily News Business.
He said Sri Lanka has a number of joint ventures with smaller companies in UK, Europe and North America with the typical company size of 50 to 150 employees. Seventy-five percent of the ITO, BPO companies in Sri Lanka are SMEs and 65 percent of them are foreign direct investments.
Several European SMEs have started Research and Development (R and D) centres in Sri Lanka.
Ratnayake said the value survey undertaken in 2007 identified 178 IT and ITES export companies in Sri Lanka. One hundred and thirty-seven engaging in IT, 34 in ITES, 7 in both IT and ITES. Also there are 90 small companies 36 medium companies and 11 large companies in the IT industry. ICT sector is the fifth largest export earning sector for Sri Lanka.
The most predominant service offering in the IT industry is software development with 62 percent of companies providing these services.
Fifty-two percent of IT companies promote their own products.
Meanwhile, IT services and IT consulting are offered by 35 percent and 29 percent of companies respectively.
In the ITES industry 72 percent of companies offer non-voice services. Sri Lankan IT services are mainly exported to Europe, and North America, Asia, Australia, and New Zealand and for ITES North America, Europe, Asia and Middle East are considered as main export markets.
Africa and South America are becoming emerging markets for IT service where as Africa, Australia, and New Zealand are becoming emerging markets for ITES, Ratnayake said.
Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
The growing IT-BPO industry in Colombo offers a unique advantage for Small and Medium Enterprises (SME) to enjoy premium access to Sri Lankas tier one talent pool, Virtusa Vice President and General Manager Madu Ratnayake told Daily News Business.
He said Sri Lanka has a number of joint ventures with smaller companies in UK, Europe and North America with the typical company size of 50 to 150 employees. Seventy-five percent of the ITO, BPO companies in Sri Lanka are SMEs and 65 percent of them are foreign direct investments.
Several European SMEs have started Research and Development (R and D) centres in Sri Lanka.
Ratnayake said the value survey undertaken in 2007 identified 178 IT and ITES export companies in Sri Lanka. One hundred and thirty-seven engaging in IT, 34 in ITES, 7 in both IT and ITES. Also there are 90 small companies 36 medium companies and 11 large companies in the IT industry. ICT sector is the fifth largest export earning sector for Sri Lanka.
The most predominant service offering in the IT industry is software development with 62 percent of companies providing these services.
Fifty-two percent of IT companies promote their own products.
Meanwhile, IT services and IT consulting are offered by 35 percent and 29 percent of companies respectively.
In the ITES industry 72 percent of companies offer non-voice services. Sri Lankan IT services are mainly exported to Europe, and North America, Asia, Australia, and New Zealand and for ITES North America, Europe, Asia and Middle East are considered as main export markets.
Africa and South America are becoming emerging markets for IT service where as Africa, Australia, and New Zealand are becoming emerging markets for ITES, Ratnayake said.
Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
Lankan Ranger
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Tourist arrivals record increased growth in Sri Lanka
Tourist arrivals are recovering well with arrivals in January growing by 31.9 percent to 50,757 from 38,468 arrivals a year ago, data from the Sri Lanka Tourism Development Authority (SLTDA) shows.
Considering the industrys potential to grow in post war Sri Lanka, the tourism authority estimates that income from this sector could reach around US$ 600 million this year, from an estimated number of 575,000 total arrivals.
Earnings from tourism grew 20 percent year-on-year in 2009 to US$ 450 million, SLTDA Director General S. Kalaiselvam said.
These are positive signs that the tourism industry is growing, he said.
In January this year, there was a 77.8 percent increase of arrivals from Western Europe year-on-year but the numbers are still low at only 361 arrivals.
Arrivals from the Middle East increased from 1,147 to 1,722, a growth rate of 50.1 percent. The number of tourists from Eastern Europe grew by 37.5 percent while arrivals from South Asia increased by 25.4 percent.
"Opening the Northern and Eastern provinces to tourists has created some impact and this has brought positive hope to the industry," Kalaiselvam said.
He said the majority of the tourists visiting the Northern and Eastern provinces are local people with over 500 citizens visiting Jaffna daily from various parts of the island.
The government is also initiating various projects to lay the infrastructure for tourism development.
More than 5,000 acres of land in 13 islands will be developed under the planned Kalpitiya tourist zone. The second project will be in Pasikudah where a 13-hotel project, with a 1,000 room capacity, is being designed as beach resort.
The third project will be in Kuchchaveli on 500 acres, creating an additional room capacity of 3,000.
Kalaiselvam said through the increased developments in these medium to long-term investments of hotels, resorts, inns, islands and restaurants, the economy would be able to expand, thereby increasing foreign exchange earnings and generating job opportunities in rural areas.
"As a result, the per capita income of the people will also increase substantially," he said.
A recent report published by the SLTDA showed the added benefits these projects would have.
The projects will not only develop the tourism sector, but will also stimulate economic activities, developing livelihood of the citizens and boosting prospects for Micro, Small and Medium Enterprises (MSMEs) that can provide support services to the tourism cluster.
The projects would also create the necessary environment for youth to receive skills training so that they can be employed in the tourism sector.
The Island-Business
Tourist arrivals are recovering well with arrivals in January growing by 31.9 percent to 50,757 from 38,468 arrivals a year ago, data from the Sri Lanka Tourism Development Authority (SLTDA) shows.
Considering the industrys potential to grow in post war Sri Lanka, the tourism authority estimates that income from this sector could reach around US$ 600 million this year, from an estimated number of 575,000 total arrivals.
Earnings from tourism grew 20 percent year-on-year in 2009 to US$ 450 million, SLTDA Director General S. Kalaiselvam said.
These are positive signs that the tourism industry is growing, he said.
In January this year, there was a 77.8 percent increase of arrivals from Western Europe year-on-year but the numbers are still low at only 361 arrivals.
Arrivals from the Middle East increased from 1,147 to 1,722, a growth rate of 50.1 percent. The number of tourists from Eastern Europe grew by 37.5 percent while arrivals from South Asia increased by 25.4 percent.
"Opening the Northern and Eastern provinces to tourists has created some impact and this has brought positive hope to the industry," Kalaiselvam said.
He said the majority of the tourists visiting the Northern and Eastern provinces are local people with over 500 citizens visiting Jaffna daily from various parts of the island.
The government is also initiating various projects to lay the infrastructure for tourism development.
More than 5,000 acres of land in 13 islands will be developed under the planned Kalpitiya tourist zone. The second project will be in Pasikudah where a 13-hotel project, with a 1,000 room capacity, is being designed as beach resort.
The third project will be in Kuchchaveli on 500 acres, creating an additional room capacity of 3,000.
Kalaiselvam said through the increased developments in these medium to long-term investments of hotels, resorts, inns, islands and restaurants, the economy would be able to expand, thereby increasing foreign exchange earnings and generating job opportunities in rural areas.
"As a result, the per capita income of the people will also increase substantially," he said.
A recent report published by the SLTDA showed the added benefits these projects would have.
The projects will not only develop the tourism sector, but will also stimulate economic activities, developing livelihood of the citizens and boosting prospects for Micro, Small and Medium Enterprises (MSMEs) that can provide support services to the tourism cluster.
The projects would also create the necessary environment for youth to receive skills training so that they can be employed in the tourism sector.
The Island-Business
Lankan Ranger
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Sri Lanka to start ocean survey in oil search
Cairn which is exploring for oil in Sri Lankan waters is to start gathering meteorological data and monitor ocean currents next month ahead of a test drilling programme, an official said.
The sub-contract for the 'metocean and currents survey' in the Gulf of Mannar, off the island's north-west is to be awarded soon, said Neil de Silva, head of Sri Lanka's petroleum resources development secretariat overseeing exploration efforts.
"You might see a ship going out next month to put instruments in the sea and collect data such as wave heights and ocean current strengths in the drilling area."
Cairn is to drill three test wells before October 1, 2011 according to their work programme.
The firm has completed three-dimensional (3D) seismic surveys of its exploration block in the Gulf of Mannar and is now processing the data to identify drilling locations.
Cairn said in a recent statement the 3D seismic survey started in December has been completed and it acquired 20 percent more than the 1,450 square kilometers required under its Minimum Work Programme.
The 3D seismic data acquisition was done by Compagnie General de Geophysique Veritas (CGGV), a large international seismic contactor.
3D seismic data produces a cube of data which greatly enhances the understanding of the geological sub surface and improves the chances to discover oil and gas deposits, Cairn said.
The firm is to complete 3D seismic data processing and interpretation by about November this year and finalize a drilling rig contract before December.
Drilling of the first test well is to start in the first half of 2011, by about April, in what Cairn called an "extension of proven hydrocarbon play" in the Cauvery and Gulf of Mannar region.
This refers to oil deposits already found on the Indian side of the same seabed geological structure.
The company is looking for oil in a 3,000 sq km block in deep water ranging from 400 metres in the east to about 1,900m towards the west.
Sri Lanka to start ocean survey in oil search - LANKA BUSINESS ONLINE
Cairn which is exploring for oil in Sri Lankan waters is to start gathering meteorological data and monitor ocean currents next month ahead of a test drilling programme, an official said.
The sub-contract for the 'metocean and currents survey' in the Gulf of Mannar, off the island's north-west is to be awarded soon, said Neil de Silva, head of Sri Lanka's petroleum resources development secretariat overseeing exploration efforts.
"You might see a ship going out next month to put instruments in the sea and collect data such as wave heights and ocean current strengths in the drilling area."
Cairn is to drill three test wells before October 1, 2011 according to their work programme.
The firm has completed three-dimensional (3D) seismic surveys of its exploration block in the Gulf of Mannar and is now processing the data to identify drilling locations.
Cairn said in a recent statement the 3D seismic survey started in December has been completed and it acquired 20 percent more than the 1,450 square kilometers required under its Minimum Work Programme.
The 3D seismic data acquisition was done by Compagnie General de Geophysique Veritas (CGGV), a large international seismic contactor.
3D seismic data produces a cube of data which greatly enhances the understanding of the geological sub surface and improves the chances to discover oil and gas deposits, Cairn said.
The firm is to complete 3D seismic data processing and interpretation by about November this year and finalize a drilling rig contract before December.
Drilling of the first test well is to start in the first half of 2011, by about April, in what Cairn called an "extension of proven hydrocarbon play" in the Cauvery and Gulf of Mannar region.
This refers to oil deposits already found on the Indian side of the same seabed geological structure.
The company is looking for oil in a 3,000 sq km block in deep water ranging from 400 metres in the east to about 1,900m towards the west.
Sri Lanka to start ocean survey in oil search - LANKA BUSINESS ONLINE
Lankan Ranger
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Sri Lanka's IT, BPO Industry will achieve USD 2 billion in export revenue
The ICT, BPO Industry will achieve USD 2 billion in export revenue becoming the top revenue earner of the country within the next 10 years. A report from the Export Development Board (EDB) said it will also provide 100,000 direct employment opportunities within the next five years. The report said Sri Lanka is quickly emerging as destination of choice for the ICT and BPO market and it has moved from 29th to 16 in A.T Kearneys Global Services Location Index in the last 12 months (GSLI 2009).
This ranking is an increasingly attractive off-shoring destination.
Colombo has been recognized as a global centre of excellence for finance and accounting with Global Services Magazine ranking the city fifth in the world.
The Sri Lanka proposition
* Sri Lanka produces 40,000 qualified accountants and 70 percent of this pool is prepared for BPO work.
* The Government support for education is very high with 5.4 percent of GDP being spent on primary education.
* Sri Lankas 27,000 IT/ITES strong workforce is growing at annual rate of 30 percent.
* Sri Lankas total cost per worker can be as much as 30 percent lower than other off-shoring destinations.
* An IT Park is being built over a 17-acre land at Katunayake. Another 110 acres have been allocated for an IT campus at Biyagama.
Leading global companies such as WNS, Amba Research and HSBC have set up their Finance and Accounting Outsourcing (FAO) centres in Sri Lanka.
Sri Lankas per capita income is at US$ 2,400 the highest in South Asia.
Earnings from exports of ICT/BPO sectors have shown a steady upward trend over the last decade. The Sri Lankan ICT/BPO market has grown by 23 percent and will further increase following the end of the war.
The report included several factors influencing Sri Lankas popularity as an offshore location. They are high level of education, excellent language capabilities, skilled workforce, financial attractiveness, government support, legal system, infrastructure, telecommunication and Blue Chip portfolio.
Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
The ICT, BPO Industry will achieve USD 2 billion in export revenue becoming the top revenue earner of the country within the next 10 years. A report from the Export Development Board (EDB) said it will also provide 100,000 direct employment opportunities within the next five years. The report said Sri Lanka is quickly emerging as destination of choice for the ICT and BPO market and it has moved from 29th to 16 in A.T Kearneys Global Services Location Index in the last 12 months (GSLI 2009).
This ranking is an increasingly attractive off-shoring destination.
Colombo has been recognized as a global centre of excellence for finance and accounting with Global Services Magazine ranking the city fifth in the world.
The Sri Lanka proposition
* Sri Lanka produces 40,000 qualified accountants and 70 percent of this pool is prepared for BPO work.
* The Government support for education is very high with 5.4 percent of GDP being spent on primary education.
* Sri Lankas 27,000 IT/ITES strong workforce is growing at annual rate of 30 percent.
* Sri Lankas total cost per worker can be as much as 30 percent lower than other off-shoring destinations.
* An IT Park is being built over a 17-acre land at Katunayake. Another 110 acres have been allocated for an IT campus at Biyagama.
Leading global companies such as WNS, Amba Research and HSBC have set up their Finance and Accounting Outsourcing (FAO) centres in Sri Lanka.
Sri Lankas per capita income is at US$ 2,400 the highest in South Asia.
Earnings from exports of ICT/BPO sectors have shown a steady upward trend over the last decade. The Sri Lankan ICT/BPO market has grown by 23 percent and will further increase following the end of the war.
The report included several factors influencing Sri Lankas popularity as an offshore location. They are high level of education, excellent language capabilities, skilled workforce, financial attractiveness, government support, legal system, infrastructure, telecommunication and Blue Chip portfolio.
Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
Lankan Ranger
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Sri Lanka poised to be best IT market in South Asia
Sri Lanka has the best IT potential growth prospects in South Asia, says a reputed international organisation.
The "Sri Lanka Information Technology Report Q 1 2010" from Business Monitor International recommended by Fast Market Research last Thursday (18) says that the Sri Lankan IT market indicates the best potential growth prospects in South Asia.
The report points out that the total IT spending in Sri Lanka keeps rising and that all indications are that it would be nearly doubled in 2013. The amount projected thus in three years from now, namely, US$ 494 million indicates a Compound Annual Growth Rate (CAGR) of 15 per cent. This projected CAGR is quite high as compared with the total size of the legal IT market estimated at US$254 in 2008.
Referring to the computer market the report says: "the computer market has comfortably been growing at a double-digit CAGR for the past several years". Giving the reasons for this massive growth the report goes on to say:" The Sri Lankan governments e-Sri Lanka strategy outlines the countrys vision for information society development, and forms the basis for initiatives related to ICT development.
A key measure was the establishment of the ICTA (Sri Lankas Information and Communications Technology Association), which has led ICT projects on various fronts. In recent years, plans for large scale deployment of broadband have been announced. Platforms have included not only DSL but also WiFi, and fixed wireless solutions such as WiMax. Meanwhile, to broaden digital access, the ICTA has piloted the construction of community information centres, with internet access, at sites across the country.
A key project is the Lanka Government Network (LGN) which is being implemented for the government by Sri Lanka Telecom (SLT). In stage one of the project, a total of 325 government offices are being connected via a VPN, allowing them on-line access to a centralised IT system".
The Island-Business
Sri Lanka has the best IT potential growth prospects in South Asia, says a reputed international organisation.
The "Sri Lanka Information Technology Report Q 1 2010" from Business Monitor International recommended by Fast Market Research last Thursday (18) says that the Sri Lankan IT market indicates the best potential growth prospects in South Asia.
The report points out that the total IT spending in Sri Lanka keeps rising and that all indications are that it would be nearly doubled in 2013. The amount projected thus in three years from now, namely, US$ 494 million indicates a Compound Annual Growth Rate (CAGR) of 15 per cent. This projected CAGR is quite high as compared with the total size of the legal IT market estimated at US$254 in 2008.
Referring to the computer market the report says: "the computer market has comfortably been growing at a double-digit CAGR for the past several years". Giving the reasons for this massive growth the report goes on to say:" The Sri Lankan governments e-Sri Lanka strategy outlines the countrys vision for information society development, and forms the basis for initiatives related to ICT development.
A key measure was the establishment of the ICTA (Sri Lankas Information and Communications Technology Association), which has led ICT projects on various fronts. In recent years, plans for large scale deployment of broadband have been announced. Platforms have included not only DSL but also WiFi, and fixed wireless solutions such as WiMax. Meanwhile, to broaden digital access, the ICTA has piloted the construction of community information centres, with internet access, at sites across the country.
A key project is the Lanka Government Network (LGN) which is being implemented for the government by Sri Lanka Telecom (SLT). In stage one of the project, a total of 325 government offices are being connected via a VPN, allowing them on-line access to a centralised IT system".
The Island-Business
Lankan Ranger
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United Arab Emirates telecom giant, Etisalat launched operations in Sri Lanka
Telecommunications has become a major factor in development to which Sri Lanka is heading and Etisalat will cater to customer oriented needs, Etisalat Lanka Director/Chief Executive Officer Dumindra Ratnayaka said.
Speaking at the launch of Etisalat Lanka at Waters Edge yesterday, he said Etisalat Lanka expects to link Sri Lankan customers in the United Arab Emirates and the Kingdom of Saudi Arabia with their relatives in Sri Lanka.
The company will double the existing coverage network of 1,000 base stations in the island.
Moreover 450 base stations for 2G technology as well as 500 base stations for 3G technology will be installed within 12 months of its operation. Out of 500 base stations for 3G, more than 100 base stations will be installed in Jaffna and adjoining islands.
The service of Etisalat Lanka is available from yesterday for the people in North and East covering 95 percent of the population there.
Among the prevailing base stations in Jaffna, eight were given coverage from yesterday. Cable TV facilities too will be introduced in the near future.
Etisalat Lanka will ensure preferential rates for the group networks covering overseas customers, he said.
At a time where all the other telecommunication providers work hard to cut down rates, we will be concerned on the needs of the customers while reducing our costs, he said.
Etisalat has its presence in UAE, Saudi Arabia, Egypt, Tanzania, Indonesia, India, Pakistan, Niger and Ivory Coast and has a large customer base amounting to 100 million.
Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
Telecommunications has become a major factor in development to which Sri Lanka is heading and Etisalat will cater to customer oriented needs, Etisalat Lanka Director/Chief Executive Officer Dumindra Ratnayaka said.
Speaking at the launch of Etisalat Lanka at Waters Edge yesterday, he said Etisalat Lanka expects to link Sri Lankan customers in the United Arab Emirates and the Kingdom of Saudi Arabia with their relatives in Sri Lanka.
The company will double the existing coverage network of 1,000 base stations in the island.
Moreover 450 base stations for 2G technology as well as 500 base stations for 3G technology will be installed within 12 months of its operation. Out of 500 base stations for 3G, more than 100 base stations will be installed in Jaffna and adjoining islands.
The service of Etisalat Lanka is available from yesterday for the people in North and East covering 95 percent of the population there.
Among the prevailing base stations in Jaffna, eight were given coverage from yesterday. Cable TV facilities too will be introduced in the near future.
Etisalat Lanka will ensure preferential rates for the group networks covering overseas customers, he said.
At a time where all the other telecommunication providers work hard to cut down rates, we will be concerned on the needs of the customers while reducing our costs, he said.
Etisalat has its presence in UAE, Saudi Arabia, Egypt, Tanzania, Indonesia, India, Pakistan, Niger and Ivory Coast and has a large customer base amounting to 100 million.
Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
Lankan Ranger
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HSBC expands Sri Lanka branch network
Sri Lanka's HSBC unit has opened a new branch in the capital Colombo pushing the total up to 15, within weeks of starting a new branch in the northern Jaffna peninsular.
The new branch in Maitland Crescent in the upmarket Cinnamon Gardens or Colombo 7 area also has a 'premier centre' targeting high net worth clients. HSBC also has another dedicated premier centre in Colombo.
The bank can also be accessed through 156 local post offices and at over one thousand third party outlets, such as Cargills, Singer, NSB, Abans, Commercial Bank and Lanka Bell, for credit card payments and cash and cheque deposit services.
"The Cinnamon Gardens branch is conveniently located to serve customers with a spaciously designed banking area that conforms to the latest group standards," HSBC Sri Lanka chief Nick Nicolaou said in a statement.
A ramp has also been installed to help disabled people, enter the branch, a feature that is present in all HSBC branches.
HSBC expands Sri Lanka branch network - LANKA BUSINESS ONLINE
Sri Lanka's HSBC unit has opened a new branch in the capital Colombo pushing the total up to 15, within weeks of starting a new branch in the northern Jaffna peninsular.
The new branch in Maitland Crescent in the upmarket Cinnamon Gardens or Colombo 7 area also has a 'premier centre' targeting high net worth clients. HSBC also has another dedicated premier centre in Colombo.
The bank can also be accessed through 156 local post offices and at over one thousand third party outlets, such as Cargills, Singer, NSB, Abans, Commercial Bank and Lanka Bell, for credit card payments and cash and cheque deposit services.
"The Cinnamon Gardens branch is conveniently located to serve customers with a spaciously designed banking area that conforms to the latest group standards," HSBC Sri Lanka chief Nick Nicolaou said in a statement.
A ramp has also been installed to help disabled people, enter the branch, a feature that is present in all HSBC branches.
HSBC expands Sri Lanka branch network - LANKA BUSINESS ONLINE
Lankan Ranger
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Sri Lanka Etisalat unit says to expand 'aggressively'
Etisalat's new Sri Lankan mobile subsidiary said it plans to expand coverage to cover the entire island, offer high speed links and use its international group network to give preferential rates to win customers.
"We're here to stay in Sri Lanka," Etisalat group chief marketing officer Essa Al Haddad told a news conference held to announce the launch of services under the new brand.
"As investors and telecom service providers we're here for the long term."
Etisalat, the United Arab Emirates-based telecom firm, acquired 100 percent of the Sri Lanka operation called Tigo from Millicom International in October 2009 and has renamed it Etisalat Lanka.
The celco is the third-largest mobile telephony operator in Sri Lanka with 2.5 million customers and an estimated market share of around 20 percent.
Etisalat Lanka chief executive Dumindra Ratnayaka said the company will set up more base stations to expand coverage throughout the island, including the north and east which are recovering from a war.
The island's 30-year ethnic war ended in May 2009, resulting in an economic revival.
Etisalat Lanka has already have set up eight base stations in the north and will launch operations in the northern Jaffna peninsula on Friday, Ratnayaka told the news conference.
"We will aggressively start rolling out our base stations from March," he said.
"We will roll out 450 2G base stations, mostly in the north and east, to fill any gaps we have, increasing the number of stations to 1,500 in the next six months."
Of the new 2G base stations, 100 will be in the north and east.
The firm will also set up 500 3G base stations offering higher speeds over the same period.
Ratnayaka said the company will also promote its international roaming services making use of the group network which has 100 million subscribers in 18 countries in the Middle East, Asia and Africa.
"Our group presence helps us to give preferential rates, packages and services," Ratnayaka said.
"When roaming within the group network we will offer preferential rates, which will vary from network to network; for instances in some networks incoming calls will be free."
Etisalat Lanka also intends to capture market share by exploiting the presence of Sri Lankan migrant workers in the Middle East.
"The UAE is host to many communities and nationalities including Sri Lankans who have a lot of connections with Sri Lanka," group chief marketing officer Essa Al Haddad said.
He also said Etisalat's ownership of the company will enable it to benefit from economies of scale. "We can provide scale - such as in accessing technical resources and in buying equipment."
Sri Lanka Etisalat unit says to expand 'aggressively' - LANKA BUSINESS ONLINE
Etisalat's new Sri Lankan mobile subsidiary said it plans to expand coverage to cover the entire island, offer high speed links and use its international group network to give preferential rates to win customers.
"We're here to stay in Sri Lanka," Etisalat group chief marketing officer Essa Al Haddad told a news conference held to announce the launch of services under the new brand.
"As investors and telecom service providers we're here for the long term."
Etisalat, the United Arab Emirates-based telecom firm, acquired 100 percent of the Sri Lanka operation called Tigo from Millicom International in October 2009 and has renamed it Etisalat Lanka.
The celco is the third-largest mobile telephony operator in Sri Lanka with 2.5 million customers and an estimated market share of around 20 percent.
Etisalat Lanka chief executive Dumindra Ratnayaka said the company will set up more base stations to expand coverage throughout the island, including the north and east which are recovering from a war.
The island's 30-year ethnic war ended in May 2009, resulting in an economic revival.
Etisalat Lanka has already have set up eight base stations in the north and will launch operations in the northern Jaffna peninsula on Friday, Ratnayaka told the news conference.
"We will aggressively start rolling out our base stations from March," he said.
"We will roll out 450 2G base stations, mostly in the north and east, to fill any gaps we have, increasing the number of stations to 1,500 in the next six months."
Of the new 2G base stations, 100 will be in the north and east.
The firm will also set up 500 3G base stations offering higher speeds over the same period.
Ratnayaka said the company will also promote its international roaming services making use of the group network which has 100 million subscribers in 18 countries in the Middle East, Asia and Africa.
"Our group presence helps us to give preferential rates, packages and services," Ratnayaka said.
"When roaming within the group network we will offer preferential rates, which will vary from network to network; for instances in some networks incoming calls will be free."
Etisalat Lanka also intends to capture market share by exploiting the presence of Sri Lankan migrant workers in the Middle East.
"The UAE is host to many communities and nationalities including Sri Lankans who have a lot of connections with Sri Lanka," group chief marketing officer Essa Al Haddad said.
He also said Etisalat's ownership of the company will enable it to benefit from economies of scale. "We can provide scale - such as in accessing technical resources and in buying equipment."
Sri Lanka Etisalat unit says to expand 'aggressively' - LANKA BUSINESS ONLINE
Lankan Ranger
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Regional Trading Hub
Sri Lanka is strategically located at the cross roads of both east and west sea routes and serves as the point of entry to South Asia.
Colombo Port
According to the Lloyds Register the Colombo Port ranks as No. 01 port of South Asia and the 26th in the World.
Throughput has grown at a compound annual rate of 20.3% over the last seven years.
Transshipment cargo accounts for 72% of throughput.
23 major shipping lines and 7 feeder services operate out of Colombo.
The Colombo Port is computerized and linked to all major freight stations.
The Hub Port of South Asia offers you:
An ideal geographical location with minimum deviation from shipping lines.
Fully equipped berths for late container vessels.
Excellent feeder network.
Fast turnaround and round the clock service.
EDI facilities with two modern container terminals, with state of the art technology and control systems.
The most competitive rates in the region.
Multi country consolidation and entrepot cargo.
Flexibility to meet customer needs.
Work is also in progress to develop and upgrade the port of Galle located in the south and the port of Trincomalee on the north east coast of Sri Lanka.
Bandaranaike International Airport (BIA)
The BIA is a regional hub of air transportation and is considered to be 1 in South Asia.
Major airlines operate frequent flights from BIA to important cities in Europe, Middle East, Far East, Australia, and the Indian Sub Continent.
Passenger movement at BIA has increased from 2,234,962 in 1995 to 2,880,387 in 2000, a 29% increase.
The cargo movements at BIA has increased from 76,312 tonnes in 1995 to 127,116 tonnes in 2000 respectively, a marked 76% increase.
The aircraft movement in the same period has increased from 16,543 to 21,058, a 27% increase.
Global Logistics Hub
Sri Lanka will be developed as a major Global Logistics Hub in the South Asian region for trade, investment, communications, and financial services. Known as the Colombo Freeport, it will provide integrated air, sea and road services linked to state of the art distribution parks. Construction of the Freeport is expected to be completed by January 2002.
Key Features of Colombo Freeport
Distribution parks at air and seaports
Quality physical infrastructure facilities
Warehousing & administration facilities
Superior IT/telecom facilities
Public/private participation
One-stop service centre
Private sector management
Attractive incentives for operators and users
Key Activities of Colombo Freeport
Multi-country consolidation
Regional distribution
Transhipment
Entrepot trading
Import/export and value addition
Board of Investment of Sri Lanka
Sri Lanka is strategically located at the cross roads of both east and west sea routes and serves as the point of entry to South Asia.
Colombo Port
According to the Lloyds Register the Colombo Port ranks as No. 01 port of South Asia and the 26th in the World.
Throughput has grown at a compound annual rate of 20.3% over the last seven years.
Transshipment cargo accounts for 72% of throughput.
23 major shipping lines and 7 feeder services operate out of Colombo.
The Colombo Port is computerized and linked to all major freight stations.
The Hub Port of South Asia offers you:
An ideal geographical location with minimum deviation from shipping lines.
Fully equipped berths for late container vessels.
Excellent feeder network.
Fast turnaround and round the clock service.
EDI facilities with two modern container terminals, with state of the art technology and control systems.
The most competitive rates in the region.
Multi country consolidation and entrepot cargo.
Flexibility to meet customer needs.
Work is also in progress to develop and upgrade the port of Galle located in the south and the port of Trincomalee on the north east coast of Sri Lanka.
Bandaranaike International Airport (BIA)
The BIA is a regional hub of air transportation and is considered to be 1 in South Asia.
Major airlines operate frequent flights from BIA to important cities in Europe, Middle East, Far East, Australia, and the Indian Sub Continent.
Passenger movement at BIA has increased from 2,234,962 in 1995 to 2,880,387 in 2000, a 29% increase.
The cargo movements at BIA has increased from 76,312 tonnes in 1995 to 127,116 tonnes in 2000 respectively, a marked 76% increase.
The aircraft movement in the same period has increased from 16,543 to 21,058, a 27% increase.
Global Logistics Hub
Sri Lanka will be developed as a major Global Logistics Hub in the South Asian region for trade, investment, communications, and financial services. Known as the Colombo Freeport, it will provide integrated air, sea and road services linked to state of the art distribution parks. Construction of the Freeport is expected to be completed by January 2002.
Key Features of Colombo Freeport
Distribution parks at air and seaports
Quality physical infrastructure facilities
Warehousing & administration facilities
Superior IT/telecom facilities
Public/private participation
One-stop service centre
Private sector management
Attractive incentives for operators and users
Key Activities of Colombo Freeport
Multi-country consolidation
Regional distribution
Transhipment
Entrepot trading
Import/export and value addition
Board of Investment of Sri Lanka
Lankan Ranger
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Sri Lanka part of larger Oman Air Asian strategy
Oman Airs new service to Sri Lanka and the Maldives is the first of a series of new routes to South Asia and part of the Middle Eastern carriers strategy to become a bigger player in the Asian air travel market, a top official said.
"This year Oman Air will be commencing operation to Kathmandu (in Nepal), Dhaka (in Bangladesh), Lahore and Islamabad (in Pakistan)," chief executive Peter Hill said in Colombo.
Hill who headed SriLankan airlines after Emirates took management control in 1998 with a 40 percent equity stake said on the sidelines of his Colombo news conference last week that if given the opportunity Oman Air would like to form an alliance with SriLankan airlines.
"Its always good to form an alliance with a national carrier," he said.
Oman Air is already flying to Mumbai, Chennai, Kochi, Thiruvananthapuram, Hyderabad, Delhi, Lucknow, Bangalore, Kozhikode and Jaipur (in India), Karachi (in Pakistan) and Chittagong (in Bangladesh).
The airline will also open routes to Dar es Salaam in Africa and Milan in Italy this year to broaden its network in Africa and Europe.
Oman Air started its Muscat-Colombo-Male service in November catering to the holiday market in the Maldives and Sri Lanka as well as the migrant labour traffic to the Middle East.
Hill says Oman Air is enjoying cabin factors, or the share of seats sold against the available capacity of 70 to 80 percent flying to Colombo via Maldives and expects business to grow.
"Many Sri Lankans are working there and are a major part of our economy and travel up and down many times. We want to benefit from that," Hill said.
"We are expecting a substantial amount of revenue to come from cargo, mostly exports from Sri Lanka and Male."
Oman Air four operates weekly frequencies to Colombo on Airbus A330-300 series wide bodied aircraft in economy and business class configurations.
"Into Sri Lanka Oman Air has a two class product, normally its a three class product," Hill said.
Currently Oman Air fleet consists of 15 Boeing 737-800 aircrafts, two A330-200 aircrafts and two A330-300 aircrafts.
In 2010 and 2011 three A330-300 series aircraft are to be delivered.
Oman Air has ordered five Embraer 175 aircraft with purchasing rights for additional five and seven Boeing 787 aircraft to be delivered in 2014, the airline said.
Hill said they dont want to grow too fast.
"Oman Air is a commercial airline, sure we got some money from the government but we paid it back," Hill said.
"Im no stranger to paying back loans and getting into profitability."
The Island-Business
Oman Airs new service to Sri Lanka and the Maldives is the first of a series of new routes to South Asia and part of the Middle Eastern carriers strategy to become a bigger player in the Asian air travel market, a top official said.
"This year Oman Air will be commencing operation to Kathmandu (in Nepal), Dhaka (in Bangladesh), Lahore and Islamabad (in Pakistan)," chief executive Peter Hill said in Colombo.
Hill who headed SriLankan airlines after Emirates took management control in 1998 with a 40 percent equity stake said on the sidelines of his Colombo news conference last week that if given the opportunity Oman Air would like to form an alliance with SriLankan airlines.
"Its always good to form an alliance with a national carrier," he said.
Oman Air is already flying to Mumbai, Chennai, Kochi, Thiruvananthapuram, Hyderabad, Delhi, Lucknow, Bangalore, Kozhikode and Jaipur (in India), Karachi (in Pakistan) and Chittagong (in Bangladesh).
The airline will also open routes to Dar es Salaam in Africa and Milan in Italy this year to broaden its network in Africa and Europe.
Oman Air started its Muscat-Colombo-Male service in November catering to the holiday market in the Maldives and Sri Lanka as well as the migrant labour traffic to the Middle East.
Hill says Oman Air is enjoying cabin factors, or the share of seats sold against the available capacity of 70 to 80 percent flying to Colombo via Maldives and expects business to grow.
"Many Sri Lankans are working there and are a major part of our economy and travel up and down many times. We want to benefit from that," Hill said.
"We are expecting a substantial amount of revenue to come from cargo, mostly exports from Sri Lanka and Male."
Oman Air four operates weekly frequencies to Colombo on Airbus A330-300 series wide bodied aircraft in economy and business class configurations.
"Into Sri Lanka Oman Air has a two class product, normally its a three class product," Hill said.
Currently Oman Air fleet consists of 15 Boeing 737-800 aircrafts, two A330-200 aircrafts and two A330-300 aircrafts.
In 2010 and 2011 three A330-300 series aircraft are to be delivered.
Oman Air has ordered five Embraer 175 aircraft with purchasing rights for additional five and seven Boeing 787 aircraft to be delivered in 2014, the airline said.
Hill said they dont want to grow too fast.
"Oman Air is a commercial airline, sure we got some money from the government but we paid it back," Hill said.
"Im no stranger to paying back loans and getting into profitability."
The Island-Business
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Sri Lanka to invest $ 2 bn. in push to reduce power tariffs
Sri Lanka commissioned its biggest single electricity generator Thursday as part of a two billion dollar investment to reduce tariffs which are among the highest in the world, officials said.
President Mahinda Rajapaksa formally linked the 300-mega watt combined cycle power plant at Kerawalapitiya, on the northern edge of Colombo and urged the state-run electricity utility to work towards reducing costs.
Rajapaksa said 85 percent of Sri Lanka's 20 million population had access to electricity and the rest would be covered by next year, but consumers complained that rates were too high.
"When I go to the villages, people tell me that the rates are very high and they can't afford it," Rajapaksa said. "We need to focus on reducing our generating costs while we increase our capacity."
High domestic consumers pay up to 30 US cents for a unit (one kilo watt hour) making Sri Lanka one of the most expensive places for electricity.
Secretary to the Ministry of Power and Energy M. M. C. Ferdinando said a Chinese-funded coal power plant will add 300 mega watts of electricity by September while two more hydro electricity generators will be added soon.
"We are looking at investing about two billion dollars in the next two years on projects already in the pipe line," Ferdinando said. "These, as well as grid upgrading, will be done with soft loans from China, India and Iran."
He said the benefit of cheaper power generation could be passed on to consumers soon.
Electricity costs have steadily increased because of Sri Lanka's extensive use of diesel power plants. The country has an installed capacity of 2,700 mega watts of power with 35 percent of that coming from hydro-electricity.
The Island-Business
Sri Lanka commissioned its biggest single electricity generator Thursday as part of a two billion dollar investment to reduce tariffs which are among the highest in the world, officials said.
President Mahinda Rajapaksa formally linked the 300-mega watt combined cycle power plant at Kerawalapitiya, on the northern edge of Colombo and urged the state-run electricity utility to work towards reducing costs.
Rajapaksa said 85 percent of Sri Lanka's 20 million population had access to electricity and the rest would be covered by next year, but consumers complained that rates were too high.
"When I go to the villages, people tell me that the rates are very high and they can't afford it," Rajapaksa said. "We need to focus on reducing our generating costs while we increase our capacity."
High domestic consumers pay up to 30 US cents for a unit (one kilo watt hour) making Sri Lanka one of the most expensive places for electricity.
Secretary to the Ministry of Power and Energy M. M. C. Ferdinando said a Chinese-funded coal power plant will add 300 mega watts of electricity by September while two more hydro electricity generators will be added soon.
"We are looking at investing about two billion dollars in the next two years on projects already in the pipe line," Ferdinando said. "These, as well as grid upgrading, will be done with soft loans from China, India and Iran."
He said the benefit of cheaper power generation could be passed on to consumers soon.
Electricity costs have steadily increased because of Sri Lanka's extensive use of diesel power plants. The country has an installed capacity of 2,700 mega watts of power with 35 percent of that coming from hydro-electricity.
The Island-Business
Lankan Ranger
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New shipping lines expected to call on Sri Lanka
The Sri Lanka Ports Authority (SLPA) issued a statement saying port volumes are beginning to improve, after volumes fell in 2009 because of the global economic crisis. The full text of the statement follows:
The Container throughput volumes of SLPA, in comparison to January 2009, have shown a positive growth for the same period in 2010.
Compared to the total of 136,994 TEUs handled by SLPA for the month of January 2009, SLPA has been able to handle 165, 400 TEUs for the same period in 2010 indicating a positive growth of 20.7 percent.
This has also elevated the overall throughput volumes at the Colombo Port by 26.7 percent in January 2010 compared to the same period of 2009.
The Colombo port suffered a slight setback in 2009, resulting in a change of throughput volumes, bringing down the overall TEU handling at Colombo Port by 6.0 percent in 2009.
However, it was reported that most of the international container ports had experienced double-digit drops in TEU volumes due to the global financial melt-down and its impact on international trade.
However, volumes have begun to recover since December.
There was a considerable improvement in container throughput (TEUs)volumes for the month of December 2009 compared to the same period of 2008.
Hence, while port operations handled by SLPA had a growth rate of 12.5 percent for the month of December 2009, overall volumes at the port of Colombo had also reached a growth rate of 19.2 percent for the same period.
This was a result of the implementation of a three year plan for the development and productivity improvement of SLPA initiated by its Chairman Dr. Priyath B. Wickrama under the guidance of the Minister of Port, Aviation, Irrigation and Water Management Chamal Rajapaksa.
SLPA Managing Director Capt. Nihal Keppetipola together with the management of SLPA during the recent past, have continued to engage a number of shipping giants in the global marine transportation industry such as APL, Maersk and MSC, who have continued to use the services of SLPA.
Several other prominent international shipping lines also expressed confidence in the efficient operations, services and facilities extended by SLPA, and expressed their hope of making Colombo a regular port of call in the near future.
The Island-Business
The Sri Lanka Ports Authority (SLPA) issued a statement saying port volumes are beginning to improve, after volumes fell in 2009 because of the global economic crisis. The full text of the statement follows:
The Container throughput volumes of SLPA, in comparison to January 2009, have shown a positive growth for the same period in 2010.
Compared to the total of 136,994 TEUs handled by SLPA for the month of January 2009, SLPA has been able to handle 165, 400 TEUs for the same period in 2010 indicating a positive growth of 20.7 percent.
This has also elevated the overall throughput volumes at the Colombo Port by 26.7 percent in January 2010 compared to the same period of 2009.
The Colombo port suffered a slight setback in 2009, resulting in a change of throughput volumes, bringing down the overall TEU handling at Colombo Port by 6.0 percent in 2009.
However, it was reported that most of the international container ports had experienced double-digit drops in TEU volumes due to the global financial melt-down and its impact on international trade.
However, volumes have begun to recover since December.
There was a considerable improvement in container throughput (TEUs)volumes for the month of December 2009 compared to the same period of 2008.
Hence, while port operations handled by SLPA had a growth rate of 12.5 percent for the month of December 2009, overall volumes at the port of Colombo had also reached a growth rate of 19.2 percent for the same period.
This was a result of the implementation of a three year plan for the development and productivity improvement of SLPA initiated by its Chairman Dr. Priyath B. Wickrama under the guidance of the Minister of Port, Aviation, Irrigation and Water Management Chamal Rajapaksa.
SLPA Managing Director Capt. Nihal Keppetipola together with the management of SLPA during the recent past, have continued to engage a number of shipping giants in the global marine transportation industry such as APL, Maersk and MSC, who have continued to use the services of SLPA.
Several other prominent international shipping lines also expressed confidence in the efficient operations, services and facilities extended by SLPA, and expressed their hope of making Colombo a regular port of call in the near future.
The Island-Business
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Turnover exceeds a billion, both indices up
Turnover at the Colombo Stock Exchange exceeded the billion rupee mark yesterday with both indices making positive gains.
The All Share Price Index gained 17.44 points to close at 3,825.30, an increase of 0.46 percent, while the Milanka Price Index of more liquid stocks performed better, gaining by 0.82 percent, or 35.88 points to close at 4,390.61.
Over 32 million shares were traded during the day with turnover reaching Rs. 1.033 billion when the market closed, provisional data from the Colombo Stock Exchange showed.
Eighty seven counters made positive gains in the days trading with 63making negative returns.
The Island-Business
Turnover at the Colombo Stock Exchange exceeded the billion rupee mark yesterday with both indices making positive gains.
The All Share Price Index gained 17.44 points to close at 3,825.30, an increase of 0.46 percent, while the Milanka Price Index of more liquid stocks performed better, gaining by 0.82 percent, or 35.88 points to close at 4,390.61.
Over 32 million shares were traded during the day with turnover reaching Rs. 1.033 billion when the market closed, provisional data from the Colombo Stock Exchange showed.
Eighty seven counters made positive gains in the days trading with 63making negative returns.
The Island-Business
Lankan Ranger
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Hambantota to be free port
Hambantota Port Phase I Features
* Project Duration : 39 months
* Commencement Date : January 15, 2008
* Project Cost : US $ 361 million
* Design Vessel Size : 100,000 DWT
* Breakwater Lengths : West Breakwater 920m
East Breakwater 310m
* Approach Channel : 210m width at 16m depth
* Service vessel Berth : 105m long
* Oil Terminal Birth : 310m long at 16m depth
* Quay wall (General Cargo) : 600m long at 17m depth
* Administrative complex : 14 Stores with 10,400 m2 floor area
Hambantota which is an industrial port will be a free port with no tax involvements.
Users are free to use the port for loading, value addition and distribution without any taxes. Our target is to start cargo handling operations before the end of this year with the expected investments in place, Sri Lanka Port Authority (SLPA) Chairman Dr. Priyath B. Wickrama told Daily News Business.
The free port concept will enable the port users to operate without additional charges other than port handling and rent or lease charges, the Chairman said.
The Hambantota Port could meet the revenue target by attracting 10 percent of the ships passing the port. Therefore, special emphasis is paid to the facilities offered by the port to make it of high standard and quality, he said.
The Hambantota Port Phase One will be completed by end of October one year ahead of schedule. It is expected to generate 5,000 direct and 50,000 indirect job opportunities.
Youth in the Hambantota area will have openings for numerous employment avenues and it is necessary to provide them with technical training necessary for the skilled and semi skilled categories.
The Government is planning to set up a Free Trade Zone between Hambantota port and Weerawila airport. This will also generate many employment opportunities.
We have a challenge to upgrade manpower to meet the growing demand created by the development activities in the area.
The SLPA has started its own training programs with the assistance of the NAITA and other technical colleges in the area.
However, these programs are not sufficient to train the entire workforce and we seek assistance from technical colleges in Ratnapura, Moneragala and Matara to meet the demand, Wickrama said.
Meanwhile the project committee formed two months back will complete the Request For Proposal (RFP) process and finalize the investor profile for the investment opportunities created by the Hambantota Port development activities within a month.
There will be investment opportunities in cement, fertilizer, warehousing, raw material, multi country consolidation, food processing, assembling and value addition at the port after the completion of this process.
Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
Hambantota Port Phase I Features
* Project Duration : 39 months
* Commencement Date : January 15, 2008
* Project Cost : US $ 361 million
* Design Vessel Size : 100,000 DWT
* Breakwater Lengths : West Breakwater 920m
East Breakwater 310m
* Approach Channel : 210m width at 16m depth
* Service vessel Berth : 105m long
* Oil Terminal Birth : 310m long at 16m depth
* Quay wall (General Cargo) : 600m long at 17m depth
* Administrative complex : 14 Stores with 10,400 m2 floor area
Hambantota which is an industrial port will be a free port with no tax involvements.
Users are free to use the port for loading, value addition and distribution without any taxes. Our target is to start cargo handling operations before the end of this year with the expected investments in place, Sri Lanka Port Authority (SLPA) Chairman Dr. Priyath B. Wickrama told Daily News Business.
The free port concept will enable the port users to operate without additional charges other than port handling and rent or lease charges, the Chairman said.
The Hambantota Port could meet the revenue target by attracting 10 percent of the ships passing the port. Therefore, special emphasis is paid to the facilities offered by the port to make it of high standard and quality, he said.
The Hambantota Port Phase One will be completed by end of October one year ahead of schedule. It is expected to generate 5,000 direct and 50,000 indirect job opportunities.
Youth in the Hambantota area will have openings for numerous employment avenues and it is necessary to provide them with technical training necessary for the skilled and semi skilled categories.
The Government is planning to set up a Free Trade Zone between Hambantota port and Weerawila airport. This will also generate many employment opportunities.
We have a challenge to upgrade manpower to meet the growing demand created by the development activities in the area.
The SLPA has started its own training programs with the assistance of the NAITA and other technical colleges in the area.
However, these programs are not sufficient to train the entire workforce and we seek assistance from technical colleges in Ratnapura, Moneragala and Matara to meet the demand, Wickrama said.
Meanwhile the project committee formed two months back will complete the Request For Proposal (RFP) process and finalize the investor profile for the investment opportunities created by the Hambantota Port development activities within a month.
There will be investment opportunities in cement, fertilizer, warehousing, raw material, multi country consolidation, food processing, assembling and value addition at the port after the completion of this process.
Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
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