Category: Industry
Tele Talk
MUMBAI, July 19, 2010 (AFP) – Shares in India’s Reliance Communications rose nearly four percent Monday on a media report that Abu Dhabi’s Etisalat was close to buying a 26-percent stake in the firm for 3. 0 billion dollars. Reliance paid the government 85. 8 billion rupees (1.86 billion dollars) for third-generation (3G) spectrum at […]
Sri Lanka hotel room rates to be upped 20-pct in winter: official
July 19, 2010 (LBO) – Sri Lanka’s leisure operators will push up room rates by about 20 percent in the coming winter season, amid a post-war tourism boom that has seen a near 50 percent jump in arrivals, officials said. John Keells Holdings said it had seen an immediate increase in its coastal resorts and […]
Sri Lanka to invite investment for marina
July 19, 2010 (LBO) – Sri Lanka is to call for tenders from investors to build a marina at a new tourist resort being developed on the island’s north-western coast, a senior tourism official said. Tissa Sooriyagoda, project director at the Sri Lanka Tourism Development Authority, said the Kalpitiya tourist resort covers a total of […]
‘s Dreamliner completes first flight outside US
FARNBOROUGH, July 18, 2010 (AFP) – Boeing’s 787 Dreamliner jet, whose delivery to clients faces fresh delays, landed here Sunday after its first flight outside of the US ahead of the Farnborough International Airshow. The test plane landed at Farnborough airport at 9:08am (0808 GMT), watched by journalists from around the world, ahead of the […]
‘s Test finale in Sri Lanka
GALLE, July 17, 2010 (AFP) – Sri Lanka’s world record holder Muttiah Muralitharan was geared up to bowl for the last time in the first Test against India from Sunday, but bad weather threatened to disrupt his swansong. The prolific off-spinner, 38, will retire from Test cricket after the opening contest of the three-match series […]
Paranavitana, Sangakkara flay India in first Test
GALLE, July 18, 2010 (AFP) – Tharanga Paranavitana and skipper Kumar Sangakkara hit centuries as Sri Lanka dominated the rain-hit opening day of the first Test against India on Sunday. The left-handed duo put on 181 for the second wicket to lead Sri Lanka to 256 for two in their first innings before heavy rain […]
India look to settle 17-year score in Sri Lanka
GALLE, July 16, 2010 (AFP) – India on Sunday embark on a third Test series in two years against Sri Lanka, with the world’s top-rated side hoping to end their 17-year drought in the island nation. The Indians have not won a Test series in Sri Lanka since a 1-0 success by Mohammad Azharuddin’s team […]
Technology Stake
July 16, 2010 (LBO) – Sri Lanka’s Environmental Resources Investment (ERI) group has invested 100 million rupees for a stake in Enterprise Technology (Pvt) Ltd (ETPL) as it expands into the information technology sector, a statement said. The investment was made through Olancom, ERI’s information and communication technology holding company, which it bought earlier in […]
Bank Merger
July 16, 2010 (LBO) – Sri Lanka’s state-run Regional Development Banks (RDBs) are to merge, getting access to foreign funds, and diversify from agriculture into other areas like tourism and lend in the former north-east war zone, officials said. The single entity created from the merger will help reduce costs and improve operating efficiency. “Operating […]
Liquidity Status
July 16, 2010 (LBO) – A credit guarantee scheme introduced by Sri Lanka’s central bank has become operational with a finance company making use of the first liquidity facility this week, a statement said. “The Central Bank is actively encouraging the speedy utilization of the scheme by the RFCs and the respective banks,” it said. […]
Rail Deals
July 16, 2010 (LBO) – Indian and Chinese companies have been awarded two deals to modernise and rebuild parts of Sri Lanka’s railway network damaged by war and extend tracks, a government statement said. Indian and Chinese firms have already been given contracts to rebuild or modernise other parts of the rail network in the […]
IT IPO
July 15, 2010 (LBO) – Sri Lanka’s PC House, an information technology firm, will raise 630 million rupees in an initial public offering (IPO) to expand its IT enabled services business and product distribution, officials said. “The government has taken a lot of initiatives, they have already started spending, trying to bring IT to the […]