Category: Industry
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Aug 26, 2011 (LBO) – Sri Lanka’s HVA group, a branded tea exporter, is building a 200 million rupee ‘forest garden’ resort with eco-friendly chalets near a national park in the island’s northwest, an official said. The resort, with 15 eco-friendly chalets powered by solar panels will be built on 50 acres of privately owned […]
Legend
SAN FRANCISCO, August 24, 2011 (AFP) – Apple’s legendary co-founder and top ideas man Steve Jobs resigned as chief executive Wednesday, the company said, in a long expected move after he began a dramatic fight with cancer. In a written statement, Apple, the world’s second biggest company by market capitalization, announced that chief operating officer […]
Sri Lankan tourism goes wild in September
Aug 25, 2011 (LBO) – Sri Lanka tourism sector would promote and showcase its wildlife assets in September to attract nature loving tourists with the largest gathering of Asian elephants also taking place during the month. Sri Lanka is only 140 miles across. These include the elephant, sloth bear, leopard and several species of whales […]
Rocky Tale
Aug 25, 2011 (LBO) – Bunkering at Hambantota port in Sri Lanka’s South is to start next month after spending 40 million dollars to demolish a rock blocking the entrance, a media report said. “This rock was identified before we started the port construction,” Sri Lanka Ports Authority Chairman Priyath Wickrama was quoted as saying […]
Cost Account
Aug 25, 2011 (LBO) – Sri Lanka’s Hambantota port needs extra loans of 147.9 million dollars to cover equipment including cranes, cost escalations in building the port, and digging the basin and entrance channel, the island’s state-run ports agency said. Responding to media reports and critics, Sri Lanka Ports Authority said the port in the […]
Supply Vessels
Aug 25, 2011 (LBO) – Sri Lanka’s Colombo Dockyard has won a deal from a Singapore-based owner to build four 78-metre Multipurpose Platform Supply Vessels (MPSVs) each with a 3,600 tonne deadweight capacity. “The latest additions to the Colombo Dockyard’s shipbuilding order book will take the shipyard through the years 2012, 2013 and 2014 with […]
Property Trend
Aug 24, 2011 (LBO) – Overseas Realty (Ceylon) Ltd, a unit of Singapore’s Shing Kwan group, is on the lookout for fresh projects as a multi tower residential development in Sri Lanka’s capital enters new phase, an official said. The group is now focusing on ‘Havelock City’ an 8-tower project in which two towers of […]
Port Parley
Aug 24, 2011 (LBO) – An international conference on ports opened in Sri Lanka Wednesday with the head of its port authority saying ports need to urgently need to expand capacity to cope with increasing trade flows. “Global trade is bouncing back (from recession) and there’s a continuous need to enhance port capacity,” Priyath Wickrama, […]
Sri Lanka power firm to build Bangladesh plant
Aug 23, 2011 (LBO) – Lakdhanavi Ltd, a Sri Lanka-based company, has been asked to build a 52. 2 MegaWatt power plant in Comilla in Bangladesh to provide ‘quick rental’ power, a media report said. Two other coal plants of 300 MW have also been approved, media reports said. Bangladesh is estimated to be facing […]
Talent Pool
Aug 23, 2011 (LBO) – Virtusa, a US-based firm which has a development centre in Sri Lanka, has struck a deal with the island’s vocational training body to provide information technology skills to its graduates. Virtusa, headquartered in Massachusetts, has offices in the United States and the United Kingdom, and global delivery centres in India […]
Sri Lanka Hilton reveals Rs10.3bn accumulated losses
Aug 22, 2011 (LBO) – Sri Lanka’s Colombo Hilton hotel has filed its first accounts in about 20 years, revealing a loss of 1. 2 billion rupees in 2010 and accumulated losses of 10.3 billion rupees and auditors expressing a qualified opinion. Hotel Developers (Lanka) which owns Hilton Colombo Hotel said the loss in the […]
High Rating
Aug 22, 2011 (LBO ) – Sri Lanka’s Commercial Bank of Ceylon has been rated ‘AA+’ by Ram Rating Lanka with a stable outlook, which the rating agency said was systemically important as the country’s largest private lender. “The ratings also reflect its strong franchise, healthy financial performance, funding, liquidity and capitalisation levels, as well […]