Category:
Sri Lanka Heritance bags green tourism awards
Sept 03, 2012 (LBO) – Sri Lanka’s Heritance Hotels and Resorts, a brand of the island’s Aitken Spence group has won top green awards at a competition organized by the state tourism promotion agency. The awards for best employee of the year, and best restaurant manager of the year went to Kumara Karunaratne and Tushara […]
Sri Lanka small passenger aircraft targeted by Mahindra Aviation
Sept 03, 2012 (LBO) – India’s Mahindra group is targeting Sri Lanka with its range of small passenger aircraft which can boost domestic and short range air travel between neighboring destinations including the Maldives, a top executive said. The group’s chief of strategy, Shiprakash Shukla said its small aircraft is ideal to take smaller groups […]
Market Eye
Sept 03, 2012 (LBO) – Lanka IOC, a unit of Indian Oil Corporation said it had exported 118. 6 million US dollars of ‘SERVO’ branded lubricants and was planning to boost foreign sales further in the current year. …[I]t has been decided to further expand our business to South-East Asian countries by appointingLube Distributors in […]
Sri Lanka US$450mn tower block by India group to have 88-storeys
Sept 03, 2012 (LBO) – A real estate project by India’s Krrish group in the heart Sri Lanka’s capital Colombo will have four towers including an 80 storey one sitting on a 10-storey podium block, the island, investment promotion agency said. State land around ‘Transworks House’ a British colonial era administration building will be given […]
Capital Tower
Sept 02, 2012 (LBO) – India’ Krrish group, which has interests in alcohol and real estate is in a deal with Sri Lanka to build a 460 million US dollar tower with land leased from the state, a media report said. The newspaper quoted documents as saying that the Indian firm will “offer the Central […]
Sri Lanka Taj unit expects strong demand
Sept 01, 2012 (LBO) – Taj Lanka Hotels, a unit of India’s Taj Hotels and Resorts is expecting strong demand for hotel rooms in the next few years despite a number of new properties coming up as tourism arrivals continue to grow. Chairman Raymond Bickson, told shareholders that expert forecasts indicate the demand for hotel […]
Sri Lanka state carrier in paperless flight deck ops, PNB
Sept 01, 2012 (LBO) – State-run SriLankan Airlines said it was moving to paperless flight deck operations dropping printed manuals in favour of an electronic flight bag (EFB) based on a mobile electronic device and new navigation procedures. “SriLankan has taken the lead in Asia to revolutionise the flight deck, realising the vision of paperless […]
Tightly Managed
Aug 31, 2012 (LBO) – Profits at Sri Lanka’s Standard Chartered Bank unit rose 20. 9 percent to 1.52 billion rupees in the six months to June 2012 from a year earlier, helped by a surge in forex income, published accounts showed. Total performing loans rose only 5.9 percent to 46.8 billion rupees in the […]
Bridge Contracts
Aug 30, 2012 (LBO) – A contract to build 46 bridges with a 22 million Euro loan has been given to Matiere and Eiffage Constructions Metalliques, a France based consortium, information minister Keheliya Rambukwelle said. The bridges will be built on national highways. The contracts include the building of sidewalks, he said. Sri Lanka contributed […]
Loan Relief
Aug 30, 2012 (LBO) – Several banks in Sri Lanka will suspend recovering farmer loans in drought stricken areas on an order made by President Mahinda Rajapaksa, information minister Keheliya Rambukwella said. The moratorium came after representations made by farmers when President Rajapaksa visited drought stricken areas recently, minister Rambukwelle said. The debt moratorium applies […]
Mortgage Access
Aug 30, 2012 (LBO) – Sri Lanka’s former war zones in the north and the east and areas in the South hit by a tsunami in 2004 will get housing loans from DFCC Vardhana Bank financed by a 15 million US dollar credit from Asian Development Bank. ADB said it the loan from its private […]
Sri Lanka Laugfs expects 398-room hotel chain by end 2014
Aug 30, 2012 (LBO) – Sri Lanka’s Laugfs group is expecting to have 398 hotel rooms operational by end 2014 under its ‘Ananthaya’ branded chain, chairman W K H Wegapitiya said. The chain includes a 75 room hotel in Sigiriya, a 125 room hotel in Waskaduwa a 110 room hotel in Passikudah and an 88 […]