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India to finance Colombo-Matara rail and a coal power plant
India to finance the Colombo-Matara rail network and a coal power plant in Trincomalee.India to finance the Colombo-Matara rail network and a coal power plant in Trincomalee. “It was noted that India has made an initial allocation of a Credit Line of US$ 100 million for the integrated development of the Colombo – Matara rail […]
Year end GDP growth tipped at 5.5 %
Sri Lanka’s Central Bank on Friday opted to go with a 5.5 percent GDP growth projection for 2005, from the earlier forecasted 5 percent to 5.5 percent range. Sri Lanka’s Central Bank on Friday opted to go with a 5.5 percent GDP growth projection for 2005, from the earlier forecasted 5 percent to 5.5 percent […]
Pent Dreams
Sri Lanka’s John Keells Holdings said Thursday, it plans to construct a US$ 40 million luxury condominium within its existing Crescat City property, a top official said.Built through its subsidiary, Asian Hotels (Pvt) Ltd, the 35-storey tower will come up on a vacant 12 acre property adjoining the group’s city five-star, the Cinnamon Grand. Named […]
At Sea
A long overdue project to modernize hydrographic maps of the sea around Sri Lanka has been bogged down for more than a year, after the research ship used in the venture was caught and destroyed in the December 26th tsunami.A long overdue project to modernize hydrographic maps of the sea around Sri Lanka has been […]
Land Sale
The Trade Ministry says NDB Stockbrokers and NDB Investment Bank would be given the task of selling prime Union Place land belonging to Co-operative Wholesale Establishment, on the stock exchange early next year. The Trade Ministry says NDB Stockbrokers and NDB Investment Bank would be given the task of selling prime Union Place land belonging […]
Sri Lanka raises 100 million dollars to meet oil import bill
Sri Lanka has raised a 100-million-dollar loan from foreign banks to help pay hefty oil import bills that threaten to blow a hole in the country’s balance of payments, the Central Bank said Wednesday. Sri Lanka has raised a 100-million-dollar loan from foreign banks to help pay hefty oil import bills that threaten to blow […]
Mine blast kills 10 soldiers in Sri Lanka, market plunges
Suspected Tamil Tiger rebels killed 10 soldiers and wounded eight Tuesday when they set off a powerful landmine in northern Sri Lanka, a military official said.Suspected Tamil Tiger rebels killed 10 soldiers and wounded eight Tuesday when they set off a powerful landmine in northern Sri Lanka, a military official said. The soldiers were ambushed […]
Newlyweds
Dialog Telekom, a unit of Telekom Malaysia, said Tuesday it had concluded a deal to buy backbone operator MTT Networks for US$ 19.2 million. Dialog Telekom, a unit of Telekom Malaysia, said Tuesday it had concluded a deal to buy backbone operator MTT Networks for US$ 19.2 million. Presently the island’s largest private communication backbone […]
Mine blast kills 10 soldiers in Sri Lanka
Suspected Tamil Tiger rebels killed 10 soldiers and wounded eight Tuesday when they set off a powerful landmine in the Jaffna peninsula in northern Sri Lanka, a military official said.Suspected Tamil Tiger rebels killed 10 soldiers and wounded eight Tuesday when they set off a powerful landmine in the Jaffna peninsula in northern Sri Lanka, […]
Colombo stocks plunge as trading opens on Tuesday
Colombo stocks fell three percent when trading opened on Tuesday after the Christmas break, following a weekend of violence in the North and East of the country.Colombo stocks fell three percent when trading opened on Tuesday after the Christmas break, following a weekend of violence in the North and East of the country. The All […]