Category: Industry
‘s Asian Alliance stock to be bought by DEG, FMO
Dec 21, 2012 (LBO) – Germany’s DEG, a part of the KfW group that invests in private firms in developing countries and FMO, a Dutch development financier are buying stock in Sri Lanka’s Asian Alliance Insurance in a 1. 8 billion rupee deal. . Sri Lanka’s Softlogic group said in a stock exchange filing that […]
Road Finance
Dec 20, 2012 (LBO) – Sri Lanka will build an 18 kilometre road for 1,802 million rupees with a loan from a commercial bank under a scheme of financing domestic contractors, minister Keheliya Rambukwelle said. Hatton National Bank, a private commercial bank will finance the road. The road runs from Meepe to Ingiriya in Sri […]
First Step
Dec 20, 2012 (LBO) – Australia based SMEC International (Pvt) Ltd, a consultancy, has been awarded the contract to study the feasibility and prepare bid documents for an expressway to the central Sri Lanka, a minister said. Later stages of the Northern Expressway project involve extensions to Jaffna in the north of the island and […]
Sri Lanka tourist arrivals up 20-pct in Nov
Dec 19, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 20.1 percent to 109,202 in November from a year earlier with arrivals up to November up 16 percent to 883,353 data from the state tourist promotion office showed. Tourists from South Asia rose 9. 6 percent to 26,649 helped by a recovery of the Indian […]
Sri Lanka tourist arrivals overtake Maldives
Dec 19, 2012 (LBO) – Sri Lanka’s tourist arrivals which rose 16. 5 percent to 883,353 in the 11 months to November 2012 from a year earlier, has outstripped that of Maldives which welcomed 866,310 tourists up only 2.4 percent. The phenomenon based mostly on overland travel revolutionized global tourism before the advent of privately […]
Oman Air and Qatar Airways in codeshare do Doha
Dec 18, 2012 (LBO) – Oman Air has inked a code share deal with Qatar Airways allowing its customers to book flights from any of 42 points within its network to Doha, the capital of Qatar. “This codeshare will make travel within the Gulf region easier, effectively extending Oman Air’s network,” Wayne Pearce, chief executive […]
Sri Lanka reaches annual target with Polish tourist
Dec 18, 2012 (LBO) – Sri Lanka has reached an annual target of 950,000 for 2012 with the arrival of Agata Dziekn from Poland on December 18, the state tourism promotion office said. In November 2012 arrivals rose 20 percent from a year earlier to 109,202, the tourism office said. Dziekn, a graphic designer was […]
Sri Lanka appoints honorary consul for Cape Town
Dec 18, 2012 (LBO) – Jonathan Jacobs, a businessman and chairman of International Trade and Tourism of the Cape Town Chamber of Commerce, has been appointed Honorary Consul covering the Western Cape Province of South Africa. Sri Lanka’s foreign ministry said he will assist the Sri Lankan High Commission in Pretoria. The foreign ministry said […]
Sri Lanka food exporters urged to register with FDA
Dec 18, 2012 (LBO) – Sri Lanka’s food exporters to the US should renew their registrations with the Food and Drug Administration quickly to avoid prohibition, the island’s embassy in Washington said. The embassy said under a food safety law (Food Safety Modernization Act) foreign firms also have to designate a US agent to communicate […]
‘s Colombo Land says wraps up purchase
Dec 18, 2012 (LBO) – Sri Lanka’s listed Colombo Land and Development Company Plc has wrapped up a deal to buy an adjacent property, which it had earlier said cost 221 million rupees, and a hotel project has been delayed. The firm owns Sri Lanka’s Liberty Plaza shopping mall in the up market Kollupitiya suburb […]
Sri Lanka opposition raises queries on payment for state land
Dec 18, 2012 (LBO) – A legislator from Sri Lanka’s main opposition United National Party had queried whether India’s Krrish group had made a payment for the purchase of leased state land on an announced date. A number of Sri Lankan and foreign firms which had been given state land were expropriated last year for […]
Tele Chief
Dec 17, 2012 (LBO) – Hutchison Asia Telecommunications Ltd, Hongkong has appointed Thirukumar Nadarasa a veteran in the group, as chief executive of Hutch Sri Lanka with immediate effect. He headed Sri Lanka’s operations from 2002 to 2007 when the network converted to the GSM standard and then moved to Vietnam. “I am pleased to […]