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Bomb in Colombo
The Colombo stockmarket reacted negatively to the Wednesday morning suicide bomb explosion that has so far left four dead and fifteen others in hospital,. The explosion took place when a female suspect taken in on suspicion blew herself up inside the Colpetty Police station.rn rnSecurity sources believe that the suicide bomber could have targeted Secretary […]
Short Haul
International tourist traffic could dip to 900 mn tourists from earlier targets of 1 bn in 2010, as global events radically alter the dynamics of future travel.rnrn Travel dictated by global terrorism, disease and weak economies have cut back on long haul travel with as much as 80 percent visiting lquote close-to-home.rn rn”About 80 percent […]
Holiday Exchange
RCI, a vacation ownership exchange is setting up shop here to promote the island as a holiday destination to its membership.The exchange allows members to trade their pre-booked holiday retreats or time-share holidays in an RCI affiliated resort for a week or more in other affiliated facilities around the world. rn rnRCI says it has […]
A drop in rice production in the current Yala season could see Sri Lanka going hungry for rice.
A drop in rice production in the current Yala season could see Sri Lanka going hungry for rice after November.A drop in rice production in the current Yala season could see Sri Lanka going hungry for rice after November. The Agriculture Minister Anura Kumara Dissanayake told Lanka Business Online on Tuesday that the Government is […]
Stay Put
Stockbrokers Asia Securities has downgraded Asian Hotels & Properties (AHPL) to hold, based on its poor short-medium term earnings prospects and an uncertain investment climate.rnrn Asian Hotels rnlong-term growth potential critically depends on the success of its new rnapartment complex endash The Monarch endash and the ability of its new management to add rnvalue to […]
Etched in Stone
Houses stuck together like a long stretch of sliced sandwich bread is a common sight in most parts of Colombo, but despite the increasing housing density in urban areas Sri Lanka lacks any standards on building them.“There is no national policy or even a set of minimum Sri Lankan standards to ensure quality when building […]
Port of Call
The business plans for Colombos South Harbour development was finalised last week, now requiring State approval to tap donor assistance to finance the US$ 300 million Government component of the project. The Asian Development Bank sponsored business plan prepared by UK based consultants Scott Wilson Kirkpatrick and Company Limited was up for final approval by […]
Parliament Quotes
The Court of Appeal issued notice on two Sri Lankan members of Parliament, the Elections Commissioner and the Secretary General of the governing party on Monday. A Writ Application filed by Sunanda Deshapriya, a Co-convenor of the Center for Monitoring Election Violence was heard on Monday.rn rnThe Appeal Court, considering the petition issued notice on […]
Custom Made
Sri Lanka Customs Superintendent Athula Lankadevas residence in Maharagama was given security from Monday night.Finance Minister Dr. Sarath Amunugama met top Customs and Police officials on Monday to deal with the problem of providing security to customs officers under threat.rn rnLankadeva is currently conducting a revenue fraud investigation into the import of GoldQuest gold medals […]
Secure Deal
Senkadagala Finance is coming out with a Rs. 52.4 mn debt paper backed by an A (sri) rating from Fitch Ratings Lanka.The Rs. 52.4 mn issue is part of a larger Rs. 250 mn securitisation deal structured by Capital Alliance, says Senkadagala Managing Director, Lakshman Balasuriya.rn rnThe Leased Backed Trust Certificates (LBTC) will be issued […]