Category: Industry
Sri Lanka Krrish project gets sweeping tax breaks
Oct 08, 2012 (LBO) – A 450 million US dollar hotel and residential development in Sri Lanka’s capital Colombo by India’s Krrish group is getting sweeping tax benefits running up to 25 years. Krrish group is building a tower block in Colombo’s colonial quarter by the side of an historic British administration building ‘Transworks House’ […]
Sri Lanka inflows to hydro power plants lowest in 20-years
Oct 05, 2012 (LBO) – Water inflows to Sri Lanka’s hydro power plants up to September 2012 was the lowest in 20-years and much lower than a year earlier which was also a drought year, the island’s power ministry said. “We are not cutting power like in India,” the minister was quoted as saying. “That […]
‘s Aitken Spence in renewable energy drive
Oct 05, 2012 (LBO) – Sri Lanka’s Aitken Spence, which owns and operates hotels inSri Lanka, Maldives, India and Oman said it has started a drive into renewable energy which was helping the firm cut fossil fuel use. The group had installed gliricidia wood burning biomass gasifiers to run boilers at Heritance Tea Factory in […]
‘s Minor
Oct 05, 2012 (LBO) – Minor International, a Thailand based leisure group said it had bought Paradise Island Resorts (Private) Limited, a beach resort in Sri Lanka for an undisclosed sum. Thailand’s Onyx Hospitality is also building an ‘Ozo’ branded city hotel in Sri Lanka’s capital Colombo with local joint venture partners. The group said […]
‘s ITC
Oct 04, 2012 (LBO) – India’s ITC Limited will build a 140 million US dollar mixed development including a hotel, shopping mall and apartments in Sri Lanka’s capital Colombo, minister Keheliya Rambukwelle said. ITC has been given state land in Colombo’s ‘Galle Face’ beachfront. Though earlier reports said ITC may operate a ‘Sheraton’ branded hotel […]
Health Investment
Oct 04, 2012 (LBO) – Actis Investment Holding SL Limited, said it had invested 2.26 billion rupees through a private placement of shares in Sri Lanka’s Asiri Hospital Holdings Plc, a Colombo listed company. Sri Lanka’s Colombo Stock Exchange the stock has been listed from October 03. Actis said the investment, which was 19. 09 […]
Sri Lanka state-carrier to invest Rs200mn in flight kitchen
Oct 03, 2012 (LBO) – State-run SriLankan Airlines will invest 200 million rupees to build a flight kitchen at the second international airport which is being built in Hambantota in the island’s south, an official said. The second airport at Mattala, built with Chinese financing is expected to be completed by the end of the […]
SriLankan Airlines to host IATA HR confab
September 03, 2012 (LBO) – National carrier Sri Lankan airlines is set to host the second International Air Transport Association (IATA) Global Human Capital Summit in Colombo giving a boost to the island’s push towards becoming a global aviation hub. “The IATA summit brings together the best in global aviation to share and discuss their […]
Tele Conference
Oct 03, 2012 (LBO) – A telecom regulators forum in Sri Lanka’s capital Colombo is looking at ways to create better conditions to foster information technology as broadband coverage takes holds around the world officials said. Lalith Weeratunga, chairman of Telecommunications Regulatory Commission of Sri Lanka said regulator had to strike a balance between regulation […]
Rubber Bastion
Oct 03, 2012 (LBO) – John Keells Plc, a commodity broking firm said Mekala Wanigasuriya, one its employees became the first female to auction rubber, since Colombo auctions began 112 years ago. The firm said the first ever lady tea auctioneer was also from John Keells. “For the first time in 112 years, a lady […]
Name Change
Oct 03, 2012 (LBO) – People’s Leasing Company, Sri Lanka’s largest leasing firm said it has changed its name to People’s Leasing & Finance Plc. The firm has a ‘AA-(lka)’ domestic rating and B+ international rating from Fitch. It also has a B+ rating from Standard and Poor’s. In July the company has applied to […]
Foreign Appetite
Oct 03, 2012 (LBO) – Sri Lanka’s NDB Bank says there is international investor appetite for bond for large projects in the island, including public private partnerships which are beyond the capacity of domestic financial markets. NDB Bank group, which has an investment banking relationship with Singapore’s DBS has had preliminary investor meetings with foreign […]