Category: Industry
Hemas and Minor Group of Thailand to re-brand Sri Lanka hotel chain
Jan 23, 2007 (LBO) – Serendib Group of Hotels signs agreement with the Minor Group of Thailand to develop and manage properties owned by the Serendib Group with the re-branding of Hotel Serendib, Bentota. Hemas Holdings Ltd is one of Sri Lanka’s top conglomerates with a focus on FMCG, Healthcare, Transportation, Leisure and Strategic Investments. […]
Race leaders
January 23, (LBO) – Associated Motorways (AMW) has cornered 31 percent of Sri Lanka’s brand new car market the budget agency Maruti winning 28 percent, Fitch Ratings Lanka said, awarding the firm a A (lka) rating with a stable outlook. “The rating reflects AMW’s position as the country’s leading distributor of new passenger automobiles, its […]
Secret World
KYOTO, Japan, Jan 22, 2007 (AFP) – In these days of the Internet, cellphones and iPods, few Japanese girls still dream of becoming a geisha with a strict life of training and duties. Facing growing competition from nightclubs and karaoke, Kyoto’s geisha are having to adapt to survive.At one tea house in Japan’s ancient capital, […]
Cool Chat
January 22, 2007 (LBO) – Motorola Inc plans to introduce a low budget handset next month to popularize the use of cellular phones among less affluent people, officials said Monday. As at end last year, bank estimates around 5.8 million people were connected to the local cellular network. Updated-weekly sales Sri Lankans can pick up […]
High Alert
January 22, 2007 (LBO) – Sri Lanka plans probe deeper into the financial activities of non-governmental organizations, by beefing up its financial intelligence unit, Central Bank governor, Nivard Cabraal said Monday. Operating since July last year, the unit was set up to track foreign exchange dealings in excess of 5,000 dollars, to ensure unscrupulous people […]
In Tune
CANNES, France, Jan 22, 2007 (AFP) – Music fans, watch out. The hot new music-enabled phones being launched by top cellphone makers are going head-on with the stand-alone MP3 players that are now a way of life for the millions who prefer them over an Apple iPod. Key entertainment industry player Brad Duea, who heads […]
Switching Channels
January 19, 2007 (LBO) – Sri Lanka plans to abort contracts of greenfield radio station operators and instead offer them to new investors, in a crowded market that currently has around 30 channels, the Secretary to the Media Ministry said. “Around five to six investors have got the license, some have secured the frequencies but […]
Tight Control
Sri Lanka limited Friday the ownership of banks to prevent individuals or groups making hostile takeover bids that could destabilise the country’s small financial market. The Central Bank of Sri Lanka said an investor will be allowed to hold a maximum of 15 percent equity of any commercial bank and those who own more than […]
Jaffna Power
January 18, 2007 (LBO) – Sri Lanka’s power utility has signed up a new independent power supplier for the northern Jaffna area, and extended the contracts of two existing emergency suppliers, a senior government minister said. Sri Lanka based Cool Air has operated a 15 MW plant in Jaffna from 2002. Agrekko set up its […]
Off Air
Jan 18, 2007 (AFP) – Sri Lanka stopped mobile phone services for nearly half a million users in the island’s embattled east as government troops were locked in combat with Tiger rebels, an official said Thursday.More than 60,000 people have died during the 35-year ethnic conflict as minority Tamils fight for an independent homeland. Despite […]
Indian Visitor
January 18, 2007 (LBO) – India’s Bharti Airtel Ltd has been tentatively picked to take up a slot as Sri Lanka’s fifth mobile phone operator, the island’s telecom watchdog said Thursday. “We have issued an offer letter to Bharti, who have a month to make a 4 milllion dollar payment to collect the license,” Telecommunications […]
Herbal Remedy
Jan 18, 2007 (LBO) – Sri Lanka is promoting the cultivation of herbs used in indigenous medicine, through a network of farm villages, in a bid to cut down the cost of imports, a government minister said. Sri Lanka has a separate ministry for indigenous medicines which runs a network of Ayurvedic hospitals, medical centres […]