Category: Industry
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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 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 […]
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 […]
Fourth Generation
Dec 30, 2012 (LBO) – Sri Lanka’s Dialog Axiata, a unit of Malaysia’s Axiata said it had launched fourth generation commercial broadband services starting with the capital Colombo targeting home and office markets. Wijayasuriya said the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has created an environment which encouraged investment in new technology. “The smooth […]
Sri Lanka exports down 6.6-pct in November
Dec 28, 2012 (LBO) – Sri Lanka’s exports fell 6. 6 percent to 827.6 million US dollars in November 2012 from a year earlier but apparel exports picked up 4. 6 percent to 363 million US dollars, official data shows. The value of tea exports was also up a slight 0.6 percent to 126 million […]
Search Trend
Dec 28, 2012 (LBO) – Surfers in South Asian nations, led by Sri Lanka are among those who searched most for the English word ‘sex’ in Google in 2012, according to data from the search giant originally unearthed by Emirates 24/7, a UAE based news portal. A query on Google trends, which tracks search queries […]
Sri Lanka sees surge of visitors from China
Dec 28, 2012 (LBO) – Chinese visitors to Sri Lanka has surged 164 percent to 3,353 in November 2012 with total visitors in the first 12 months up 46 percent to 22,176 data from the tourist promotion office shows. China is the top source of visitors for many fast growing East Asian countries. In Vietnam […]
Oil Deals
Colombo, 2012 (LBO) – Sri Lanka is buying refined products from State-run Vietnam Oil and Gas group (PetroVietnam) favourable terms and is also getting credit facilities, petroleum minister Susil Premajayantha said. Sri Lanka’s state-run petroleum refinery, which is more suited processing Iranian crude has had trouble with other types after it became more difficult to […]
Sri Lanka should boost relations with all major powers: Razeen Sally
Dec 22, 2012 (LBO) – Sri Lanka should be friendly all major powers and ensure that relations are strengthened with nations that matter to the core economic interests of the country, a top international economist said. “It strikes me that Sri Lankan foreign policy, which of course includes foreign economic policy – is completely lopsided,” […]
Sri Lanka plantation buys tea exporter
Dec 21, 2012 (LBO) – Sri Lanka’s Kotagala Plantations Plc, a tea plantations firm said it had bought Union Commodities (Pvt) Ltd, a tea exporter for 1,575 million rupees (12. 4 million US dollars). No details were given how the purchase would be financed. Kotagala Plantations said Union Commodities had been ranked the fourth largest […]