Sri Lanka needs massive increase in hotel rooms

Sept 11, 2009 (LBO) – Sri Lanka needs a massive increase in hotel accommodation to cope with the anticipated influx of tourists with the end of the 30-year ethnic war, a senior travel trade official said.“The eradication of terrorism and the country returning to normal have created a window of opportunity and conducive business environment […]

Turnaround Strategy

Sept 10, 2009 (LBO) – A write-off of old equipment will help Sri Lanka’s Dialog Telekom, a unit of Malaysia’s Axiata, lower costs, support higher call volumes in a turnaround strategy after positing a record quarterly loss, an official said. A six billion rupee network equipment write-off drove up losses to a record 7.6 billion […]

Tech Archaeology

Sept 10, 2009 (LBO) – At Sigiriya, in central Sri Lanka, a group of geophysicists are probing the ground around an ancient rock fortress with ground penetrating radar, looking for man-made structures which are 1,500 years old.The rock is surrounded by a landscaped patchwork of shallow ponds – a water garden – which is irrigated […]

Sri Lanka luxury resort developers to raise equity

Sept 10, 2009 (LBO) – Developers of a luxury island resort managed by the Six Senses chain in Sri Lanka who have set up an investment fund will seek to raise further cash through a private share offering, an official said. Neil De Silva, chairman of Dutch Bay Resorts which is to build the resort […]

Sri Lanka August tourist arrivals up

Sept 10, 2009 (LBO) – Tourist arrivals into Sri Lanka in August 2009 rose 34.3 percent to 41,207 from a year ago, led by visitors from key markets like the UK, Germany, India, the Tourism Authority said. It was the third straight monthly rise in visitors since May, when a 30-year war ended, compared with […]

Sri Lanka power plants shut down over fuel snag

Sept 10, 2009 (LBO) – Several power plants supplying Sri Lanka’s national power grid has shut down following problem with furnace oil supplied by state-run Ceylon Petroleum Corporation, power sector officials said. Around 270 MegaWatts of capacity held by independent power producers had been taken off line following a problem that is believed to be […]

Sri Lanka islet resort by Six Senses chain

Sept 09, 2009 (LBO) – International luxury hotel chain Six Senses is to manage a resort built on an islet on the north west coast of Sri Lanka becoming the first tourism project to be announced after an ethnic war ended, officials said. The 60 mangrove boutique chalets will located within inland water bodies and […]

Sri Lanka to lease islands for hotels

Sept 09, 2009 (LBO) – Sri Lanka plans to lease islands off the north-west coast for tourist hotels, as the travel industry recovers after the end of the 30-year ethnic war, government officials said. We now wonder whether 4,000 rooms will be enough to meet increasing demand, he said. Sri Lanka has seen an upturn […]

Sri Lanka travel firm in pilgrimage market with Indian rail

Sept 09, 2009 (LBO) – Sri Lanka’s Hemas Travels is breaking into the Buddhist pilgrimage market by offering an eight-day tour in a dedicated train in partnership with the Indian rail system. Pilgrims are taken on Mahaparinirvana Express a dedicated train, with sleeping births and dining facilities offered at between 105 to 150 dollars a […]

Sri Lanka Malinga, Samaraweera star in win

September 8, 2009 (AFP) – Lasith Malinga grabbed three wickets off five deliveries to bowl Sri Lanka to a crushing 97-run win over New Zealand in a tri-series match here on Tuesday.The paceman finished with a career-best 4-28 as New Zealand were dismissed for 119 chasing a 217-run target on a slow pitch in the […]

Sri Lanka power firm looks for Rs600mn in IPO

Sept 08, 2009 (LBO) – Sri Lanka’s Hemas Power, a unit of listed Hemas Holdings is seeking up to 626 million rupees through a sale of 31.3 million shares to increase investments in renewable energy. The firm is pushing for growth by moving into renewable energy. It already has a 2MW run of the river […]

Rate War

Sept 07, 2009 (LBO) – Sri Lanka Telecom, the island’s dominant fixed line operator, said it was offering lower rates and discounts in new subscriber packages amid intensifying competition among phone companies.Existing SLT customer switching to new packages will be charged a transfer fee while those sticking to their ‘Home’ and ‘Business’ standard packages will […]

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