Author: lbostgadmin
Tourist Dollars
Sri Lanka is beginning to put in place its tourism infrastructure, with eight key areas around the island and four zones in the North and East tagged for initial development.A US$ 60 mn JBIC loan is on the cards to develop infrastructure like roads and utilities like electricity, water supply, sewerage systems and waste disposal.rn […]
Water Birds
SriLankan Airlines will float its amphibious planes in November, whisking visitors off the runway and over ocean to the hills or as far off as Trincomalee in a fraction of the time. ldblquote We will be starting our float plane operations in November this winter season. It will include two amphibious aircraft that can take […]
Cash Injection
The long established company plans to raise Rs. 300 mn through the Initial Public Offering sometime in November.rn rnShares will be offered at Rs. 20 each, which includes a 10-rupee premium.rn rnThe company says the shares will be listed on the Colombo Stock Exchange, approval for which will be sought soon.rn rnPrivate healthcare ventures including […]
Here She Comes
George OMarie, the first local designer label will hit shops around the world early next year.Backed by a top garment exporter Readywear Industries, the brand is expected to tap the upper and middle end of the apparel market.rn rnIts promoters however say the brand will be price competitive, compared to some of their more established […]
Road To Tooting
Colombos congested roads are not getting a break, with 3,000 new vehicles hitting the streets every month. Most of it is in the capital. Tax and excise on vehicle imports is a top revenue generator for the government. But critics say the countrys road infrastructure could soon start bursting at the seams if the current […]
JKH Big Bang
John Keells Holdings entered the property market with a bang by taking a stake in Asian Hotels for Rs. 4 bn.The acquisition of the 60 percent stake gives JKH control of the Colombo Plaza hotel while Asian Hotels also owns a significant stake in the Trans Asia hotel.rn rnThe hotel acquisitions will show up the […]
Go For Rating
Central Bank Deputy Governor W. A. Wijewardene told LBR that the credit rating would be in place early next year with bank funding for the whole process.rn rnThe first steps have been taken to find a lquote rating advisory dblquote .rn rnThe ldblquote rating advisory dblquote which will probably be an investment bank, will advice […]
Out Of CRIB
The local credit information agency is trying to add value to its services with donor help.Credit Information Bureau says that World Bank help is on offer to improve its product offering which is presently limited to basic credit information.rn rnThe bureau will also go on line offering their clients quicker access to information.rn rnldblquote They […]
Malaysians Sail In
A top Malaysian business tycoon, Tan Sri Gnanalingam is keen to invest in and manage BOI free trade zones while also tapping potential of the leisure sector.The chairman of the 11 largest port in the world, Westport in Malaysia says, they could also look at investments in the Colombo port once private sector investors are […]
Washed Out
The rupee closed up at Rs. 94.55 against the US dollar on Friday, as exporters asked the government to step in and support falling prices.So far, the rupee has appreciated by about three percent since Sept.eroding profit margins and competitiveness of local exports.rn rnThe appreciation of the rupee comes on top of rising utility prices, […]
Zipped Up
Zeelabs signed a deal to exclusively market and build upon Temptation Technologies (TT) 3D imaging products. Zeelabs is an integrated technology provider with a range of e-businesses services.rn rnThe portfolio spans from strategy consulting through to branding, interactive designing, technology consulting and integration into customer operations.rn rnThe addition will bolster Zeelabs e-business product portfolio and […]
Engaged Tone
Sri Lanka Telecom on Thursday informed the stock exchange that it had launched a bid to buy up wireless local loop operator Lanka Bell.“SLT has entered into a non-disclosure agreement with Lanka Bell to enable a study to be undertaken of that company,” Sri Lanka Telecom informed the Colombo Stock Exchange.rn rnThe announcement comes after […]