Category: Industry
Sri Lanka aims to have best customs office in region: Treasury Secretary
Jan 04, 2013 (LBO) – Sri Lanka is aiming to have the best customs office in the region with the office fully online and three ‘free ports’ in operation, Treasury Secretary P B Jayasundera said. Customs will also facilitate the about a million tourists are year, he said. Sri Lanka’s customs office will have ASYCUDA […]
Sri Lanka in US80mn aircraft MRO complex
Jan 04, 2013 (LBO) – Sri Lanka’s state-run SriLankan Airlines will operate an 80 million US dollar aircraft repair and overhauling (MRO) complex at the country’s second international airport in Mattala targeting the Asian market and India.Information minister Keheliya Rambukwelle said cabinet approval has been given to obtain foreign financial assistance for the project. Sri […]
‘s Aitken Spence drops deal with Six Senses
Jan 04, 2013, (LBO) – Sri Lanka’s Aitken Spence, said it had dropped plans to build a hotel with Six Senses, an international hotel chain and the Favourite group, a domestic firm.Aitken Spence said in 2010 that is was planning to build a 35 million US dollar resort and spa with beachfront villa on a […]
Sri Lanka main airport to expand with Japan loan
Jan 03, 2013 (LBO) – State-run Airport and Aviation Services (Sri Lanka) Ltd, has signed up a 28.9 billion Yen loan from the Japan International Co-operation Agency for expansion, information minister Keheliya Rambukwelle said.. The funds will be used to expand the terminal building, widen an aircraft parking apron and related facilities. The project is […]
Full Cover
Jan 03, 2013 (LBO) – Mobitel, a unit of Sri Lanka Telecom is expanding its base stations by 1,800 to 3,500 which will result in 100 percent coverage of the population, the cellular operator said.The firm said it had opened ‘contact centres’ in Mullativu in the north and Sooriywewa in the south creating ICT based […]
Borrowing Practices
Jan 02, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon has loaned nearly 140 billion rupees to customers in former war zones in the North and East and default rates are very low, a top official said.“We are happy to say NPAs (non-performing assets) since the war, in the North and the East taken […]
Stepping Down
Jan 01, 2013 (LBO) – Gamini Wickramasinghe, who is stepping down as chairman of Sri Lanka’s Bank of Ceylon said dealing with loan applicants who expected patronage was among the biggest challenges in managing a state entity. “A lot of people expect to get loans from a state bank and think it is easy if […]
More Connections
Jan 01, 2012 (LBO) – A road circling Sri Lanka’s capital Colombo which connects to a new expressway network will get an additional interchange to accommodate projected traffic from a fast developing area, a top official said.The outer circular highway will get an extra interchange near Athurugiriya town, Road Development Authority chairman R W Pemasiri […]
Sri Lanka ICC, Nivasie in Rs3.6bn property venture
Dec 31, 2012 (LBO) – Sri Lanka’s International Construction Consortium (Pvt) Ltd, is promoting a 3. 6 billion rupee property development in Malabe in the outskirts of the capital Colombo, the state investment promotion agency said. The project will be financed with equity, debt financing facilities from banks and pre-sales. ICC will build 100 two-storied […]
Fourth Generation
Dec 31, 2012 (LBO) – Mobitel, a unit of Sri Lanka Telecom, the country’s largest fixed access provider, said it had launched fourth generation services (4G) using LTE (long term evolution) technology, Mobitel said it was the first company in South Asia to trial the services in May 2011 with downlink speeds exceeding 96Mbps. “Mobitel […]
Sri Lanka travel agency moves into hotels
Dec 31, 2012 (LBO) – Sri Lanka’s Worldlink Travels is building a chain of small luxury hotels with the first 12-roomed property opening in Kandy in the central hills, a media report said. “We see a huge opportunity in the hotel segment hence we are planning to open a chain of small hotels under the […]
Sri Lanka targets 1.2mn tourists in 2013
Dec 31, 2012 (LBO) – Sri Lanka is targeting 1. 2 million tourist arrivals for 2013 after welcoming a million tourists in 2012, more than it target of 950,000, the state tourism promotion office said. Update II/Corrected billion dollars On December 30, officials led by deputy economic development minister Lakshman Yapa had welcomed Jiang Ying […]