Asia Leisure, a subsidiary of Asia Capital PLC together with a Japanese investment is to construct a 100 roomed super luxury hotel in Galle at a cost of Rs. 1.8 billion. Asia Leisure says that this hotel is to be constructed on a two acre plot of land bought early this year along the Galle…
EXCLUSIVE:: Though the Central Bank of Sri Lanka tried to introduce the world’s most popular money transfer service Paypal to Sri Lanka very soon, most reliable sources say that it may take a longer time for this service to be introduced to Sri Lanka. This major delay has been due to PayPal not showing keenness…
Government has been looking for an environmentally acceptable and economically feasible solution for the disposal of Municipal Solid Waste in the Metro Colombo Region. The current collection of Solid Waste in the city of Colombo is about 700 MT per day and with the other urbanized local authorities in the Metro Colombo Region, the collection is…
A Cayman Islands registered company, Cultural Financial Holdings Ltd. has entered into an agreement to buy nearly 70% of Union Bank of Colombo PLC shares for nearly Rs. 15 billion. Cultural Financial Holdings has agreed to buy 742.1 million ordinary voting shares of Union Bank of Colombo PLC at Rs. 15.30 per share as a…
EXCLUSIVE: A special meeting on the beginning of the work on the ‘Krrish Square’ proposed to be constructed on a four acre plot of land in Colombo Fort was held between the chairmen of the Urban Development Authority (UDA) and the Krrish Group in Colombo this morning (12 August). During this meeting, Krrish Group chairman…
Vallibel One PLC disposed of its 50% shares in Orit Apparels Lanka Private Limited and successfully gained a net capital gain of Rs. 137.9 million. Vallibel One said it had sold its shares in its subsidiary Orit Apparels Lanka Private Limited at Rs. 40.27 per share. These shares have been purchased by Orit Apparels Lanka…
Asiri Central Hospitals PLC has entered into an agreement to sell and transfer the land and premises bearing No. 37, Horton Place, Colombo 07 for a total consideration of Rupees 2.6 billion. The sale would be concluded only upon the buyer completing a due diligence within 90 days of the due agreement, says Asiri Central…
The Gross Official Reserves of the Central Bank of Sri Lanka crossed the US$ 9 billion mark on Friday (August 8) for the first time ever in the country’s history, Central Bank Governor Ajith Nivard Cabraal said. By end May 2014, Sri Lanka’s gross official reserves amounted to US dollars 8.8 billion, equivalent to 5.9…
The Central Bank of Sri Lanka (CBSL) has released the latest data on Sri Lanka’s debts which shows that compared to the Gross Domestic Product (GDP) the debt burden has decreased to 74.3 percent by end June 2014. By end 2013 the country’s debt burden was 78.3 percentage of the GDP. In 2005 it was…
There are around 100 foreigners currently serving with SriLankan Airlines as chief pilots and the incapability of training pilots locally is due to the resources being limited, said the Director General of Civil Aviation. Director General of Civil Aviation H.M.C. Nimalsiri old adaderanabiz.lk that around 200 Sri Lankans too are with the foreigners as chief…
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