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Sri Lanka lake front to be park, entertainment complex: report
Sept 04, 2010 (LBO) – Land around a lake in Sri Lanka’s capital Colombo has been earmarked for hotels, a park, a shopping and an entertainment area and will be offered to private investors by the island’s city development authority, a media report said. State land would be offered investors as 55 or 99 year […]
Capacity Crunch
Sept 04, 2010 (LBO) – Sri Lanka Colombo port is nearing its maximum capacity ahead of forecasts owing to a rapid growth in cargo volumes, the head of the state-run Sri Lanka Ports Authority said. Container volumes through Colombo are growing at almost 24 percent now compared with 2009, Wickrama said. The number of containers […]
Asia leads world tourism recovery in 2010: UN
MADRID, September 3, 2010 (AFP) – World tourism rebounded strongly this year from the global financial crisis, led by Asia and the Middle East, the United Nations World Tourism Organisation (UNWTO) said Friday. But the Madrid-based body also urged caution, noting that some major developed nations have not yet fully emerged from the economic doldrums. […]
‘s Tata Steel may seek 5.4-billion dollar loan: report
NEW DELHI, September 4, 2010 (AFP) – The world’s seventh-largest steelmaker, Tata Steel, is in talks with banks for a 5. 4-billion-dollar loan for its British unit Corus, a report said Saturday. The Economic Times newspaper said BNP Paribas, HSBC Holdings and Royal Bank of Scotland may be among the banks contributing funds for the […]
Sri Lanka stocks close up 1.65-pct
Sept 03, 2010 (LBO) – Sri Lankan shares continued their bull run Friday with gains seen in several sectors on the back of the previous day’s sharp rise, brokers said. The All Share Price Index closed at 5,880.49, up 1.65 percent (95.32 points) while the more liquid Milanka index rose 1.77 percent (105.29 points) to […]
Box Move
Sept 03, 2010 (LBO) – The Sri Lanka Ports Authority (SLPA) is building a new yard for storing containers next to its main transhipment facility in Colombo port to ease congestion caused by increasing cargo flows, an official said. SLPA chairman Priyath Wickrama said the yard, next to the Jaya Container Terminal, will also have […]
‘s farmers
NAITALE, September 3, 2010 (AFP) – Sanjay Sathe stood by his vines in a sweeping agricultural belt outside the city of Nashik in western India and punched a number into his mobile phone. “Hello, it’s Sanjay Sathe,” the 36-year-old grape and tomato farmer announced in the local language, Marathi, as if talking to a friend. […]
SriLankan Airlines to resume floatplane service, expand fleet
Sept 03, 2010 (LBO) – SriLankan Airlines, Sri Lanka’s state-run national said it will acquire two floatplanes to re-start domestic air services later this year and also buy five short haul Airbus A320 aircraft next year as it looked to fly new routes. SriLankan said it will acquire two De Havilland Canada Twin Otter floatplanes […]
Sri Lanka LOLC in dendro, hydro power plants
Sept 03, 2010 (LBO) – Sri Lanka’s LOLC group has bought into a wood fired or dendro power plant which is expected to be commissioned and connected to the national power grid in late 2011 and was also investing in 14 mini-hydro plants. LOLC said it had acquired a 75 percent state in United Dendro […]
Sri Lanka India coal plant, no firm date yet: minister
Sept 03, 2010 (LBO) – A starting date for a joint venture India Sri Lanka coal power station has still not been set, but it will be last coal plant that the government will approve, Sri Lanka’s energy minister Patali Ranawaka said. “It is in the feasibility study stage,” he said. Minister Ranawaka said there […]