Category: Industry
Sri Lanka disappointed no review system for India
July 12, 2010 (AFP) – Sri Lankan captain Kumar Sangakkara said Monday he was disappointed that the umpire review system would not be used for the upcoming three-Test series with India. “As a player and a team, we are very much for the umpire decision review system,” skipper Kumar Sangakkara told reporters ahead of the […]
Credit Trends
July 13, 2010 (LBO) – Sri Lanka’s loans to private borrowers rose by 7. 7 billion rupees in May 2010 but the state borrowed more than double that amount from commercial banks to support its deficit spending, official data showed. Excessive state borrowing that appropriates people’s savings at high rates has been the most important […]
Credit Support
July 13, 2010 (LBO) – Sri Lanka’s finance companies which are facing liquidity shortages will get new credit under a central bank guarantee scheme with the first facility going to a firm this week, the regulator said. “Through the resumption and revival of their normal business, the RFCs are expected to be able to meet […]
Sri Lanka Jetwing upgrading two hotels, mulling new ones
July 09, 2010 (LBO) – Sri Lanka’s Jetwing leisure group has is spending 1. 3 billion rupees to expand and upgrade two hotels during this year and is evaluating other projects to meet a tourism boom after the end of a 30-year war, an official said. He said the group had 30 projects in a […]
Sri Lanka Spence to put US$78mn in hotels
July 12, 2010 (LBO) – Sri Lanka’s Aitken Spence group is planning to put 78 million US dollars in to the leisure sector after a war ended in Sri Lanka with new hotels in the south western coast being started first, an official said. “We envisage a post-war investment around 9. 0 billion rupees (78 […]
‘s captain
July 11, 2010 (AFP) – Sri Lanka’s captain Kumar Sangakkara has urged world cricket chiefs to win back fans to Test and one-day games with a balanced international calendar that gives equal opportunities to all teams. Sangakkara said global viewership of the sport had dwindled over the past year, despite a packed schedule of Tests, […]
Sri Lanka Continental Hotel in US60mn expansion
July 11, 2010 (LBO) – Continental Hotel, the oldest 5-star rated property in Sri Lanka’s capital Colombo will spend 60 million US dollars to expand and refurbish to cater to an expected influx of tourists after the end of a long running war, an official said. Sri Lanka’s listed Hayleys group bought a 51 percent […]
Sri Lankan June tourist arrivals up 48-pct
July 10, 2010 (LBO) – Tourist arrivals to Sri Lanka rose 47.9 percent to 44,730 in June 2010 from a year earlier, with strong growth from South Asia, Western Europe and North American, data from the island’s tourism office showed. In June arrivals from Western Europe rose 36.6 percent to 13,881 in the off-peak season. […]
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 […]