Telecommunication Archives - Ceylon Independent

16Dec

By Faraz ShauketalyNo Comments

Business, Main Story

3Q GDP growth slow s to 3.3%

Latest GDP performance slower than 4% in 2Q and lower than 4.6% a year earlier Services and industry aid growth but agriculture records negative growth for the 7th straight quarter *Rice cultivation drops 32.5%, coconut 20.8% and veggies 6% Industry grows 1.9%, construction grows 2.6% Services grow 4.3% led by financial services 19.6%, telecoms 19.5% Manufacturing grows 2.4%, strong apparel growth at 7.9% The country’s economy grew by 3.3% in the 3Q driven by services and moderate industry growth but was hampered by lackluster performance in agriculture that showed negative growth of 3.3%, the Census and Statistics Department (CSD) said yesterday. The third quarter performance shows slower growth comparison to 4% in the second quarter and 4.6...

Sri Lanka mobile telecommunications industry asks to remove proposed Tower Levy

4Dec

By Faraz ShauketalyNo Comments

Business, Main Story

Sri Lanka mobile telecommunications industry asks to remove proposed Tower Levy

The mobile telecommunications industry of Sri Lanka says the Rs. 200,000 per month levy on cellular towers proposed in the 2018 budget will make the operators to close the unprofitable towers and lead to reduced internet coverage. Issuing a statement, the industry pointed out that a tower is extremely costly to build and operate and the proposed tower levy will increase the monthly operational cost over 17 percent. The industry said the three out of the five mobile operators are still loss making and the loss-making situation of smaller operators is further deepened by their attempt to extend mobile services to under populated rural areas. "The proposed Cellular Tower Levy would only decelerate the growth of internet penetration in Sri Lanka by curtailing further investment in 4G ...

Sri Lanka’s Renuka Hotels commences trading at Colombo Stock Exchange

21Nov

By Faraz ShauketalyNo Comments

Business

Sri Lanka’s Renuka Hotels commences trading at Colombo Stock Exchange

Renuka Hotels Limited commenced trading on the Colombo Stock Exchange (CSE) today and the occasion was marked through a bell ringing ceremony hosted by the CSE. The shares, which were listed by introduction on the Diri Savi Board of the CSE have been classified under the ‘Hotels and Travels’ sector. Shares of Renuka Hotels which opened at 151 rupees had a reference price of 139 rupees. The share is currently trading (11.20am) at 170 rupees. “As a group we are proud to have another Company listed on the CSE,” Executive Chairperson of Renuka Hotels Shibani Thambiayah said. “We endeavored to list the Company on the CSE supported by the request made by our Shareholders to do so.” Renuka Hotels Limited and Renuka City Hotels PLC which form the Renuka Hotels Group own and manage t...

Telecommunication towers to be reduced as part of govt Green initiative

9Nov

By AdminNo Comments

Environment, Uncategorized

Telecommunication towers to be reduced as part of govt Green initiative

It was announced that the number of telecommunication towers within Sri Lanka will be reduced as they are not environment-friendly. Minister Mangala Samaraweera stated that there are around 50,000 telecommunication towers in Sri Lanka and that a tax will be imposed to reduce their numbers. He further stated that this will be done to establish a virtually blue-green institution within Sri Lanka.