Category:
Suspended
Dec 28, 2010 (LBO) – The Merchant Bank of Sri Lanka (MBSL) has suspended its chief executive officer for alleged misconduct, the bank said in a stock exchange filing. MBSL shares were trading at 47.40 rupees each, up 1.10, in mid-morning trade. MBSL’s board of directors had decided to suspend the services of its chief […]
Sri Lanka east coast to get luxury hotel
Dec 28, 2010 (LBO) – Sri Lanka’s Esna Holdings, a consultancy and advisory services firm, plans to set up a luxury beach resort in Nilaveli, a prime beach front on the island’s east coast, a statement said. Sri Lanka has seen an influx of tourists after the end of its 30-year ethnic war in May […]
Sri Lanka to get 7-star Shangri-La hotel
Dec 28, 2010 (LBO) – Hong Kong-based leisure group Shangri-La has signed a deal to acquire land to build a seven-star hotel in the Sri Lankan capital Colombo, the chairman of the tourism authority Nalaka Godahewa said. Shangri-La signed the agreement Tuesday to acquire 10 acres of government property near the Galle Face green promenade, […]
Sri Lanka Hotel Reefcomber in deal to build resort
Dec 28, 2010 (LBO) – Sri Lanka’s Hotel Reefcomber has struck a deal to build a four-star beach resort with water-front villas, a stock exchange filing said. Hotel Reefcomber has finalised the purchase of land called ‘Santhoduwa’ at Santhoduwa village in Akkaraipatu within the secretariat division and pradeshiya sabha (local council) limits of Kalpitiya, it […]
Sri Lanka coconut farmers to get subsidies amid high prices
Dec 28, 2010 (LBO) – Sri Lanka’s coconut farmers, who are now perhaps getting the highest prices in the world due to agriculture protection, are to get tax payer support in the form of a fertilizer subsidy, the government has said. Earlier in the year Sri Lanka’s desiccated coconut producers proposed a periodically adjusted tax […]
Sri Lanka to get fish canning plants
Dec 28, 2010 (LBO) – Two fish canning plants are to be built in Sri Lanka next year to supply both the export and domestic markets, fisheries minister Rajitha Senaratne said. Fish production has been increasing since the island’s 30-year ethnic war ended in May 2009. “By the end of next year, we aim to […]
Sri Lanka shares end up 0.96-pct
Dec 27, 2010 (LBO) – Sri Lankan stocks closed higher Monday with only two private deals reported and active trading in a rubber products group and a tableware exporter, brokers said. The All Share Price Index closed at 6,621.51, up 0.96 percent (63.26 points) while the more liquid Milanka index rose 0.59 percent (41.53 points) […]
Transport Demand
Dec 27, 2010 (LBO) – The number of vehicles imported by Sri Lanka continues to surge after a sharp import duty reduction, with new registrations up 74 percent to 284,991 in January – October 2010 from a year ago, latest data shows. The number of trucks and other transport vehicles imported have risen by 57 […]
Sri Lanka fish prices seen falling when weather improves
Dec 27, 2010 (LBO) – Fish prices in Sri Lanka should come down when the weather improves and Catholic fishermen put out to sea with the end of Christmas celebrations, the fisheries minister Rajitha Senaratne said. Increased sales by the state-owned Ceylon Fisheries Corporation had already brought fish prices down by about 22 percent on […]
Spreading Virus
December 27, 2010 (AFP) – Swine flu in Sri Lanka has killed 22 people and infected more than 300 over the past two months, the island’s health ministry said Monday. Official figures showed that 22 people infected with H1N1 — swine flu — had died since October 25 while 342 cases were reported during this […]
Speed Test
Dec 27, 2010 (LBO) – Sri Lankan broadband users will soon be able to test their download speeds with the proposed introduction of a testing facility, the Telecommunications Regulatory Commission said in a statement. The TRC has just published the results of tests on fixed broadband download speeds that found speeds were far below those […]
Peak Cheats
Dec 27, 2010 (LBO) – Fixed broadband service providers in Sri Lanka have been providing download speeds far below advertised rates at peak times especially from international domains, the telecommunications regulator has said. The TRC also said most commercial institutions in Sri Lanka prefer to use broadband services for commercial activities instead of using internet […]