Category: Industry
Port Traffic
Dec 07, 2011 (LBO) – Sri Lanka’s road development agency is to build a flyover at the main entrance to Colombo port to ease traffic congestion caused by container trucks, a port official said. The island’s imports and exports have increased with economic growth accelerating to eight percent a year after the end of its […]
Gas Potential
Dec 06, 2011 (LBO) – A top Indian scientist has said he believes Sri Lanka has huge gas hydrate resources in the ocean around the island as in India. The ice like solids found in deep water on the ocean floor could generate methane gas, a potential energy source, Harsh Gupta told a forum of […]
Sri Lanka Expo 2012 fair expects 1,000 delegates
Dec 06, 2011 (LBO) – Sri Lanka is expecting more than 1,000 business and official delegates for an export trade fair to be held in March in Colombo, which will also feature a high profile business forum, officials said. The end of a 30-year civil war in 2009 has already resulted in a tourism boom […]
Sri Lanka Lighthouse hotel expands
Dec 06, 2011 (LBO) – The Lighthouse Hotel in southern Sri Lanka said it plans to expand by adding more rooms and new food and beverage outlets amid a boom in tourist arrivals. The company, whose hotel is on the southern coast, said in a stock exchange filing it will build 15-20 rooms, a restaurant, […]
Sri Lanka tourist shopping mall at colonial Dutch hospital
Dec 05, 2011 (LBO) – A tourist ‘shopping precinct’ has been built in Sri Lanka’s capital Colombo at the premises of a hospital in dating back to the Dutch colonial period. The Dutch hospital was opened by economic development minister Basil Rajapaksa and his brother defence secretary Gothabhaya Rajapaksa who also oversees the country’s urban […]
Cross Border
Dec 05, 2011 (LBO) – Sri Lanka’s non-bank finance companies should borrow abroad to increase resources they have to lend to the domestic economy, Central Bank Governor Nivard Cabraal said. In the 1980s amid high deficit spending and loose monetary policy, the currency was continuously depreciated to avoid balance of payments crises. When foreign currency […]
Gold Finance
Dec 05, 2011 (LBO) – Sri Lanka’s Edirisinghe Trust Investments (ETI), a registered finance company which is to be listed on the Colombo bourse, said it plans to open more outlets by March 2012 as its gold finance business expands. Sandun Kumarasiri, ETI General Manager Gold Financing and Sales, said their staff not only has […]
Proposals
Dec 04, 2011 (LBO) – Sri Lanka Ports Authority will invite more port related industries at Hambantota in the island’s south this month, after a first round brought a billion dollars of investments, chairman Priyath Bandu Wickrema said. The RFP will be open and investors could propose virtually any industry including manufacturing, assembly, packing and […]
Vietnam tourist arrivals up 15.9-pct to 5.3 million
HANOI, Dec (Asia Pulse) – Some 5.3 million foreign visitors came to Vietnam in the first 11 months of 2011, up 15.9 per cent year-on-year, and meeting the country’s tourism target, according to the Vietnam General Statistics Office. Tourism, including domestic, earned an estimated VND110 trillion (US$5.2 billion) or 4.5 per cent of the nation’s […]
Fast Links
Dec 02, 2011 (LBO) – Sri Lankan celco Dialog Axiata is expanding its fibre optic coverage with plans to provide high-speed broadband connectivity to over 100 buildings in the capital Colombo, an official said. The high-speed fibre optic links enable video conferencing and telephony that would improve corporate business communications, he said. Mangala Hettiarachchi, the […]
Sri Lanka among 2012 best tourist destinations: National Geographic
Dec 02, 2011 (LBO) – Sri Lanka has been among the best destinations to visit in 2012 National Geographic Traveler, by US-based magazine, which has focused on the island’s hill country. Sri Lanka’s tourist arrivals have been rising since the end of a 30-year war in 2009. “Nuwara Eliya is a colonial-era resort town in […]
Sri Lanka National Insurance Trust retains AAA rating
Dec 01, 2011 (LBO) – RAM Ratings Lanka has confirmed National Insurance Trust Fund’s (NITF) long- and short- term claims-paying ability ratings at AAA and P1, with the long-term rating having a stable outlook. “NITF’s ratings reflect its status as a statutory body of the government of Sri Lanka and the Fund’s systemic importance as […]