Category: Industry
Sri Lanka Lighthouse in Rs300mn expansion
June 15, 2011 (LBO) – Listed Lighthouse Hotel, a unit of Sri Lanka’s Jetwing leisure group, is planning a 300 million rupee expansion and upgrade to target up market niche travelers. Built in Galle in Sri Lanka’s south in 1996 the hotel says it conforms to standards conforming to Small Luxury Hotels of the World, […]
Russell predicts no lasting pane for Prior
LONDON, June 14, 2011 (AFP) – Jack Russell has insisted he had a far worse temper than current England wicket-keeper Matt Prior who has found himself in an unwanted spotlight as a result of a window-breaking incident at Lord’s. England head to the Rose Bowl for the third and final Test against Sri Lanka starting […]
Sri Lanka Panasian Power to buy more hydro capacity
June 14, 2011 (LBO) – Sri Lanka’s Panasian Power said it had signed a deal to buy a mini hydro firm that had 6. 5 MegaWatts of capacity under development, at valuation to be decided later. The firm had signed a memorandum of understanding with Padiyapelella Hydro Power (Pvt) Ltd to buy the firm at […]
Smart Share
June 13, 2011 (LBO) – Korea’s Samsung has taken the lead in Sri Lanka’s ‘smart phone’ and screen phone market, winning a share of between 35 to 40 percent, country manager Shankar Nayaran said. Sri Lankans are estimated to buy around 120,000 phones a month, or about 1. 4 million phones a year, he said. […]
Final Stretch
June 13, 2011 (LBO) – An toll expressway to Sri Lanka’s southern city of Galle is expected be completed by July 2011, but the pricing has not yet been decided, the head of the country’s road agency R W Pemasiri said. He said work on 31.6 kilometer stretch financed by the Japan Bank for International […]
Services Sales
June 12, 2011 (LBO) – The shipping division of Sri Lanka’s Aitken Spence group has won a deal to improve the efficiency of the port of Nacala in Mozambique, building on its reputation elsewhere in Africa, the company said. The deal was made on the strong “reputation it has built as a result of the […]
‘s Tharanga
June 8, 2011 (AFP) – The International Cricket Council has initiated action against Sri Lanka’s opening batsman Upul Tharanga after he failed a dope test, the island’s cricket governing body said Wednesday. It said Tharanga had claimed that he was given a steroid by a faith healer in Colombo who also treated other international players. […]
Sri Lanka Mihin Lanka losses mount, assets negative
June 10, 2011 (LBO) – Sri Lanka’s state-run Mihin Lanka, a budget carrier, has lost 5.8 billion rupees since it was started in 2007 and it had a 5.6 billion rupee gap in the balance sheet despite capital injections from people’s tax money, official data shows. According to data the state had injected 2. 7 […]
Sri Lanka tourist arrivals up 39-pct in May
June 10, 2011 (LBO) – Tourist arrivals to Sri Lanka rose 39 percent to 48,000 in May 2011 from a year earlier, led by increases in visitors from India and East Asia, data from the tourist promotion office showed. Visitors from Britain fell 0.4 percent to 4,452 while German arrivals rose a modest 3. 2 […]
Sri Lanka gets IFC funds for wind power
June 09, 2011 (LBO) – The International Finance Corporation, part of the World Bank group, is investing 3.8 million US dollars in Sri Lanka’s SENOK group to support its wind power projects. “IFC’s investment will help develop SENOK’s capacity in renewable energy and support the company’s plans to adopt global environmental and social practices,” a […]
Sri Lanka Panasian Power controlling shareholder reduces stake
June 09, 2011 (LBO) – The Malaysian controlling shareholder of Sri Lankan mini hydro firm Panasian Power reduced its control with the sale of a large stake in trades which boosted market turnover on the Colombo bourse Thursday. Power Hub International Sdn Bhd sold 68, 325,100 shares of Panasian Power in three lots at eight […]
New Era
June 8, 2011 (AFP) – Sri Lanka is to finally scrap its telegraphic service, which has been overtaken by mobile phones and the Internet and handles just 50 telegrams a day, an official said Wednesday. Transmitting telegrams using a network of postal messengers across the country was too expensive, postal ministry secretary Hemasiri Fernando said, […]