Category: Industry
” hotel expects to open this month: official
Oct 12, 2012 (LBO) – Sri Lanka’s Uga Escapes leisure group will open a resort in the north eastern coast of Passikudah and the firm expects to sell a room at 250 to 300 US dollars a night, an official said. Sri Lanka is seeing a tourism boom after the end of a 30-year civil […]
Sri Lanka US$60mn property project by Pakistan firm
Oct 11, 2012 (LBO) – Imperial Builders (Pvt) Ltd, a unit of Pakistan based Lakhani group is investing in a 60 million US dollar project to develop land in Sri Lanka’s capital Colombo, the island’s investment promotion agency said. Imperial Builders and Sri Lanka’s Urban Development Authority will build alternative accommodation for shanty dwellers in […]
Regional trade forum in Sri Lanka to have SME focus
Oct 10, 2012 (LBO) – An Asia-Pacific trade forum to be held in Sri Lanka’s capital Colombo will have sessions focusing on small and medium enterprises and member of regional chambers in the island will take part, the island’s largest business chamber said. Local SME’s will have a special session to interact with speakers from […]
Cell Rating
Oct 09, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating with a stable outlook citing support from its Malaysia-based parent and said its stand alone credit profile had improved to ‘AA ‘AA+(lka)’ from ‘AA(lka)’. “Dialog’s standalone credit profile is strong, and has improved between 2010 and 2012, helped by a benign competitive environment […]
Sri Lanka says travel to Tamil Nadu safe for citizens
Oct 09, 2012 (LBO) – Sri Lanka has lifted a travel advisory to the Indian state of Tamil Nadu that was imposed in the wake of a series of attacks by Tamil political groups on visiting pilgrims from the island. “People-to-people contact plays an important role in the multifaceted India-Sri Lanka relationship, especially in further […]
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 […]