Category: Industry
Sri Lanka Hotel Reefcomber in deal to build resort
Dec 28, 2010 (LBO) – Sri Lanka’s Hotel Reefcomber has struck a deal to build a four-star beach resort with water-front villas, a stock exchange filing said. Hotel Reefcomber has finalised the purchase of land called ‘Santhoduwa’ at Santhoduwa village in Akkaraipatu within the secretariat division and pradeshiya sabha (local council) limits of Kalpitiya, it […]
Sri Lanka to get 7-star Shangri-La hotel
Dec 28, 2010 (LBO) – Hong Kong-based leisure group Shangri-La has signed a deal to acquire land to build a seven-star hotel in the Sri Lankan capital Colombo, the chairman of the tourism authority Nalaka Godahewa said. Shangri-La signed the agreement Tuesday to acquire 10 acres of government property near the Galle Face green promenade, […]
Sri Lanka east coast to get luxury hotel
Dec 28, 2010 (LBO) – Sri Lanka’s Esna Holdings, a consultancy and advisory services firm, plans to set up a luxury beach resort in Nilaveli, a prime beach front on the island’s east coast, a statement said. Sri Lanka has seen an influx of tourists after the end of its 30-year ethnic war in May […]
Suspended
Dec 28, 2010 (LBO) – The Merchant Bank of Sri Lanka (MBSL) has suspended its chief executive officer for alleged misconduct, the bank said in a stock exchange filing. MBSL shares were trading at 47.40 rupees each, up 1.10, in mid-morning trade. MBSL’s board of directors had decided to suspend the services of its chief […]
Peak Cheats
Dec 27, 2010 (LBO) – Fixed broadband service providers in Sri Lanka have been providing download speeds far below advertised rates at peak times especially from international domains, the telecommunications regulator has said. The TRC also said most commercial institutions in Sri Lanka prefer to use broadband services for commercial activities instead of using internet […]
Speed Test
Dec 27, 2010 (LBO) – Sri Lankan broadband users will soon be able to test their download speeds with the proposed introduction of a testing facility, the Telecommunications Regulatory Commission said in a statement. The TRC has just published the results of tests on fixed broadband download speeds that found speeds were far below those […]
Spreading Virus
December 27, 2010 (AFP) – Swine flu in Sri Lanka has killed 22 people and infected more than 300 over the past two months, the island’s health ministry said Monday. Official figures showed that 22 people infected with H1N1 — swine flu — had died since October 25 while 342 cases were reported during this […]
Transport Demand
Dec 27, 2010 (LBO) – The number of vehicles imported by Sri Lanka continues to surge after a sharp import duty reduction, with new registrations up 74 percent to 284,991 in January – October 2010 from a year ago, latest data shows. The number of trucks and other transport vehicles imported have risen by 57 […]
Sri Lanka formula racing tracks mulled by FIA
Dec 24, 2010 (LBO) – The Federation International de Automobile (FIA), the governing body of world motor sport, is considering setting up two international formula racing tracks in Sri Lanka, the government said. A statement from President Mahinda Rajapaksa’s office said Jean Todt, the president of the International Automobile Federation, had explored the possibility of […]
Stock Allocation
Dec 24, 2010 (LBO) – Small investors who applied for up to 500 shares in a share issue by Sri Lanka’s Singer Finance (Lanka) will get all they asked for, issue manager NDB Investment Bank said in a stock exchange filing. The funds raised via the IPO will be used by the company to expand […]
Bank Issue
Dec 24, 2010 (LBO) – Sri Lanka’s Union Bank plans to make a public share offer after a rights issue of 10 million shares at 25 rupees each to existing shareholders was oversubscribed by four times, a statement said. The bank has 20 branches including 05 in the north of Sri Lanka and is expected […]
Sri Lanka to get first onion shipment next Monday
Dec 23, 2010 (LBO) – Sri Lanka is to get its first ship load of imported ‘big’ onions next week as traders claimed they had run out of stocks Thursday after an export ban imposed by India, the main supplier. Sri Lanka usually imports 4,000-5,000 tonnes of big onions a week from India. The Pettah […]