All 172 rooms and suites to offer direct ocean views Construction of Amari Galle Sri Lanka is progressing on schedule, with the resort on track to open in late 2016. This upcoming opening marks the introduction of the Amari brand by ONYX Hospitality Group to Sri Lanka, and follows on the success of two earlier…
Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, is planning to adopt an internationally accepted tool to review the forecasted electricity demand in Sri Lanka and to access the Long Term Generation Expansion Plan (2015-2032) by Ceylon Electricity Board (CEB). The tool named as MAED or Model for Analysis of Energy Demand…
Laugfs Pharmaceutical (Private) Limited, a subsidiary of Laugfs Holdings Limited embarked on its inaugural step to enter Sri Lanka’s pharmaceutical sector by beginning construction work on the island’s largest pharmaceutical drugs manufacturing plant today (29 January). During the ground breaking ceremony, the first sod was cut for this manufacturing plant within the Koggala Export Processing…
The Colombo Stock Exchange (CSE) today (28 January) decided to suspend the trading of PC House PLC and PC Pharma PLC due to non-submission of Annual Reports for the year ended 31 March 2014 and 31 March 2015 to the CSE in compliance with CSE Listing Rules and Sri Lanka Accounting Standards. Several weeks ago,…
The Monetary Board, with the concurrence of the Hon. Minister of Finance, has promoted Assistant Governor, Mr. S Lankathilake to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 24th January 2016. Mr. S Lankathilake has more than 30 years of experience in the CBSL in the areas…
Students who receive free education should get more, says Gateway International School chairman Dr. Harsha Alles. During an interview with Ada Derana Biz 24X7 recently, he said that they have come thus far only due to free education.
IRCON International Limited, a Government of India Undertaking, under the Ministry of Indian Railways, will shortly complete 7 years in Sri Lanka in March 2016. IRCON was responsible for the upgradation of the Tsunami devastated coastal railway line and the reconstruction of the Northern Province railway tracks which tremendously helped in the capacity enhancement of…
Chartered Accountant, Lasantha Wickremasinghe was inducted as the 23rd President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on Tuesday, 26th January 2016 in the presence of a distinguished audience including senior government officials, corporate leaders and international accounting personalities. Mr. Wickremasinghe, a prominent Chartered Accountant was ceremoniously inducted by outgoing…
Aitken Spence Hotels International (Private) Limited, a subsidiary of Aitken Spence PLC, is to acquire the Al Falaj Hotel in Oman at a price of 14 million Omani Riyals. This offer has been accepted by the Board of Directors and shareholders of the owning company, Oman Hotels and Tourism Company subjected to the necessary approvals….
Dairy co-operative unveils wider strategy to support the growth of the local dairy industry Fonterra Brands Sri Lanka today announced the construction of its first demonstration and training farm in Sri Lanka, as part of the company’s long-term investment in the growth of the local dairy industry. The dairy co-operative, which has been operating in…
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