Author: Jayantha Kovilagodage
Sri Lanka exports up 40-pct to July
Sept 05, 2011 (LBO) – Sri Lanka’s exports in the seven months to July rose 40 percent to 6,080 million US dollars from a year earlier, with apparel growing 44 percent, an export promotion official said. In July exports had topped a billion US dollars. Ratnayake had earlier said year-end target for exports was 10 […]
Sri Lanka India venture in US$200mn development
Aug 27, 2011 (LBO) – Sri Lanka’s Rank Holdings, a group which has interests in gaming, power and logistics, is planning a 200 million US dollar hotel and residential complex in the capital Colombo with an Indian partner, an official said. The D R Wijewardene property project however dates back from an earlier process a […]
Sri Lanka Finco exits apparel firm
Aug 01, 2011 (LBO) – Sri Lanka’s Finco group has sold a controlling stake in listed Orient Garments to PC House Holdings, an unlisted firm and its chairman Mohamed Rishan for 600 million rupees, officials said. Finco vice president Priyanjith Weerasooriya said the group wanted to focus on the leisure sector. The group is building […]
‘s Finco builds two east coast resorts
July 29, 2011 (LBO) – Sri Lanka’s Finco group, which has interests in construction, export manufacturing and real estate is building two resorts in the island’s eastern coast investing nearly 16 million US dollars to expand its leisure arm, an official said. Finco, a privately held business group listed an export apparel making unit, Orient […]
Sri Lanka plans inland fisheries expansion
July 25, 2011 (LBO) – Sri Lanka is expecting inland fish production to rise 15 percent to 60,000 tonnes in 2011, and is targeting 90,000 tonnes by 2013 backed by a program to push up production, officials said. Rohana Subasinghe, senior fishery resource officer at the Food and Agriculture Organization said Asia accounted for about […]
Sri Lanka to start tourist call centre
July 22, 2011 (LBO) – Sri Lanka plans to start an international call centre which will provide assistance and information to tourists, chairman of the country’s tourism development authority Nalaka Godahewa said. “We will call for proposals from local firms in two to three weeks,” Godahewa said. “We hope to receive innovative solutions. “A call […]
Sri Lanka expects exports to grow 25-pct in 2011
July 15, 2011 (LBO) – Sri Lanka exports grew by a better-than-expected 42 percent in the five months to May and full-year revenues are projected to grow 25 percent to 10 billion US dollars, the state export promotion agency chief said. “Now, our strategy is developing our exports portfolio beyond those markets while protecting the […]
” north of capital
July 7, 2011 (LBO) – Sri Lanka will build a new ‘tourist city’ in the Western coastal city of Katana north of the capital Colombo, which may draw 1.5 billion US dollars in foreign investments in its first phase alone, a government minister said. Sri Lanka’s tourism development authority has also offered a series of […]
Sri Lanka dredges canals to prevent flooding
June 27, 2011 (LBO) – Sri Lanka has begun deepening canals in marshes bordering the capital Colombo and digging lakes to prevent flooding during the rainy season and for tourism and recreation, officials said. A 24-acre land is being dug in the Rampalawatte area in Pelawatte along with another lake at Thalawatugoda. The project is […]
Easier Borrowing
May 16, 2011 (LBO) – Sri Lankan banks will soon be able to lend against moveable property with a new initiative by the Credit Information Bureau (CRIB), an official said. The CRIB plans to set up a ‘secured transaction registry’ from June 01, 2011 that will enable registration of moveable assets against which banks can […]
Sri Lanka raises taxes on imported vehicles
Apr, 25, 2011 (LBO) – Sri Lanka has raised import duties on several categories of petrol-engined cars and three wheelers with steeper increases seen in larger hybrid vehicles, which had exceptionally low taxes earlier, officials said. At the current rates even the large hybrids are taxed at a lower rate than smaller petrol cars. Update […]
Sri Lanka vacant apartments can be used for tourism: official
Mar 03, 2011 (LBO) – Sri Lanka’s tourist development office says owners of vacant apartments in Colombo will be given a chance to use them for tourism in a bid to expand room capacity in the capital amid a steep increase in tourist arrivals. Sri Lanka tourist development authority chairman Nalaka Godahewa said about 500 […]