Category: Industry
Sri Lanka Amaya Leisure in US$100mn expansion
July 10, 2010 (LBO) – Amaya Leisure, a firm connected to Sri Lanka’s Vallibel group said it would invest 100 million US dollars in the next four years in four new hotels in an aggressive expansion to meet growing demand post-war demand in the island, an official said. “We intent completing all these projects before […]
Protest
July 9, 2010 (AFP) – Sri Lanka said Friday that UN chief Ban Ki-moon had “acted in haste” by recalling his top envoy on the island in response to angry protests over a UN war crimes panel. Foreign Minister Gamini Lakshman Peiris said the government had told Ban’s chief representative Neil Buhne that the days […]
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July 8, 2010 (AFP) – Sri Lanka’s world bowling record holder Muttiah Muralitharan on Thursday brushed aside criticism of his bowling action saying his unorthodox style was a gift from God. Muralitharan’s 18-year career was marred by controversy due to his bent-arm action — the result of an elbow deformity since birth — which helped […]
Broad Speeds
July 09, 2010 (LBO) – Mobile broadband quality of the two largest players in Sri Lanka’s western province, where the capital Colombo is located, is satisfactory when compared to promised and international benchmarks, researchers have found. But Dialog, a unit of Axiata of Malaysia has wide mobile broadband coverage as well as Mobitel, a unit […]
Sri Lanka okays foreign investment for two resorts in Kalpitiya
July 09, 2010 (LBO) – Sri Lanka has approved two resorts by foreign investors in a new tourism development area in Kalpitiya on the north-west coast that opened up for investment with the end of a war, a tourism official said. Tourism is booming in the island after a 30-year ethnic war ended in May […]
Sri Lankan Airlines to set up flight simulator centre with Dutch firm
Computer Play July 08, 2010 (LBO) – SriLankan Airlines will set up a flight simulator centre with SIM Industries of the Netherlands targeting the growing South Asian regional market for pilot training, the airline said. “We have been looking at opportunities in South Asia for some time, and there is no doubt that Colombo is […]
Sri Lanka draws cruise ships after end of war
July 08, 2010 (LBO) – Sri Lanka is once again becoming an attractive destination for cruise ship operators with the end of a 30-year ethnic war, the head of one of the island’s biggest conglomerates said. “Galle will be a very attractive destination to break journey. They would like to have a 3-4 day stop […]
Capital Needs
July 8, 2010 (LBO) – Merchant Bank of Sri Lanka, a unit of state-run Bank of Ceylon, may need to inject new capital into a troubled savings bank and insurance firm it bought during an economic downturn, a rating agency said. RAM ratings confirmed Merchant Bank of Sri Lanka’s (MBSL) ‘AA-‘ domestic long term rating […]
Nearly Docked
July 8, 2010 (LBO) – A deal to build a container terminal in an expanded Colombo port will be awarded to a China – Sri Lanka consortium within ‘two to three weeks’ Treasury Secretary P B Jayasundera said. Sri Lanka’s listed Aitken Spence and China Merchant Holdings, a state-run port operator, were the only bidder […]
Sri Lanka apparel industry downplays loss of EU trade deal
July 08, 2010 (LBO) – The end of a trade deal giving duty free market access to Europe will not be a ‘catastrophe’ though it would squeeze already thin profit margins, an industry official said. A Sukumaran, a clothing exporter who is chairman of the Joint Apparel Association Forum, an industry body, said they were […]
SriLankan Airlines launches Shanghai, China flights
July 08, 2010 (LBO) – Sri Lankan Airlines has launched its four-times a week service to Shanghai, China’s commercial capital, which the airline says is the third Chinese city in its route network. The first flight landed in Shanghai July 01. The route is operated on wide-body Airbus A330 and A340 aircraft via Bangkok on […]
‘s retiring Muralitharan says his time is up
NEW DELHI, July 7, 2010 (AFP) – Sri Lanka’s world bowling record holder Muttiah Muralitharan said on Wednesday he was retiring from Test cricket because he had nothing left to strive for. “I have achieved what I wanted to achieve. There is nothing left or any target to reach,” the 38-year-old told the Mumbai-based Daily […]