Sri Lanka’s strategy of meeting domestic investment requirements through borrowing cannot be sustained for much longer, according to Sri Lanka Economic Association (SLEA) President Prof. A. D. V. De S. Indraratna.
Sri Lanka opened its first private sector-operated domestic air terminal at the Bandaranaike International Airport (BIA) recently.
Ceylon Beverage Holdings PLC has made a Rs.238 million investment in its fullyowned subsidiary, Pubs ‘N Places Private Limited, which is engaged in the business of owning and franchising out restaurants.
Sri Lanka Cricket yesterday announced the appointment of men’s clothing specialists, Hameedia, as the official formal clothing sponsor of the Sri Lanka national cricket teams.
Browns Investments PLC said it has signed an agreement with Sun & Fun Resorts Ltd to invest Rs.250 million to acquire 50.1 percent of the company and to construct a four-star international standard hotel in Pasikudah with 71 rooms.
Maruti Suzuki India Limited, (Maruti Suzuki), India’s largest car manufacturer yesterday announced their plans to set up a car manufacturing plant in Sri Lanka and are confident of starting operations as early as next year if all goes well.
A unit of IFS Sri Lanka was appraised at Level 3 Capability Maturity Mode Integration (CMMI) certification by KPMG recently.
The National Mobile Service Provider, Sri Lanka Telecom Mobitel, along with the Ministry of Education today inaugurated the implementation of the student iCard project amongst schools in Sri Lanka. Royal College, Colombo is the first school to start using the iCard for attendance monitoring.
The William Angliss Institute entered into an agreement with Crown Sri Lanka Resort to provide hospitality training through the Colombo Academy of Hospitality Management (CAHM) recently.
The University Grants Commission of Sri Lanka (UGC) with the support of the country’s state-run petroleum exploration unit, Petroleum Resource Development Secretariat (PRDS) announced the commencement of Petroleum Sciences degrees at the Peradeniya, Moratuwa and Sri Jayawardenapura Universities yesterday.
Mihin Lanka is to operate direct flights twice a week from Colombo to Mahe, the largest island of Seychelles, beginning November.
US-based restaurant franchise TGI Fridays opened its first outlet in Colombo adjacent to the Dutch Hospital shopping precinct.
Citizens Development Business Finance PLC (CDB) announced the securing of a US$ 6 million (approximately Rs780 million) funding line from Brussels-based Belgian Investment Company for Developing Countries (BIO).
National Mobile Service Provider Sri Lanka Telecom Mobitel in its vision to lead Sri Lanka towards an info-com and knowledge rich society, through its service offerings has yet again confirmed its commitment to its customers by winning the prestigious ‘Service Brand of the Year’ Award at the 12th SLIM Brand Excellence 2013 held on Wednesday.
Sri Lanka must look at reducing its reliance on thermal energy while increasing the role of renewable energy in the country’s total power generation mix, according to a report from the Asian Development Bank (ADB).
Sri Lanka’s mobile services operator Dialog Axiata PLC added two Android-based Dialog smartphones to its existing portfolio, increasing the options available for those seeking affordable smartphones, while widening the portals of accessibility to mobile Internet usage to a wider representation of Sri Lankans.
Touchwood Investments PLC yesterday undertook in courts to repay all matured contracts within a period not exceeding eight months in three instalments, according to the lawyers appeared for the company.
Amãna Bank opened its doors in the gem capital of Sri Lanka, taking its unique model of banking services to the residents of Ratnapura. The 24th branch of the bank is situated at 131-133, Main Street, Ratnapura and is the 10th branch opened by the bank during this year.
John Keells Holdings (JKH) is reported to have selected a consortium led by South Korea’s Hyundai Engineering and Construction, for a contract worth US $ 522 million to build its integrated resort in Colombo, South Korean media reports said.
International Lease Finance Corporation (ILFC) signed a 12-year lease agreement with SriLankan Airlines for three A350-900 aircraft yesterday.
Amana Bank is planning to list shares on the Colombo Stock Exchange (CSE) before the end of this year.
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