The dollars spent by tourists spending a night in Sri Lanka is on the rise due to the increase in the services and value additions within the country’s tourism sector, says the Director General of the Sri Lanka Tourism Development Authority. In 2012, the amount a foreign tourist arriving in Sri Lanka had spent a…
The government has planned to divide the construction of the Southern Expressway extension from Godagama to the Hambantota harbour into four phases and hand them over to the respective contractors. Deputy Highways Minister Nirmala Kothalawala told AdaderanaBiz that the contracts could be awarded by August this year. “This section is 93 kilometres long. We are now attending to…
The Commercial High Court today (March 19) refused an enjoining order sought by Anura Lokuhetty, restraining his termination as the CEO of the Serene Pavilions Hotel. The Commercial High Court of Colombo in December issued an interim order restraining 3 directors nominated by Mr. Anura Lokuhetty and South West Holdings Ltd, a company controlled by…
In a ground breaking achievement for capital market education the University Grants Commission (UGC) and the Education Ministry have approved a programme proposed by the Colombo Stock Exchange (CSE) to conduct compulsory workshops for Undergraduate Students and Commerce Teachers across the country. The introductory sessions that were held recently saw avid interest generated from the parties involved. Accordingly, workshops…
Flights of the world’s largest passenger aircraft, the A380 have increased over the Mattala international airport in Hambantota and this has contributed to an increase in earning for Sri Lanka, says the Sri Lanka Airport and Aviation Services Limited Chairman. Airport and Aviation Services Limited Chairman Prasanna Wickramasuriya told AdaderanaBiz that since the Mattala international…
Colombo Stock market ended days’ trading on a mixed note. The ASI declined marginally by 6.47 points (-0.11%) to closed at 5,907.64 while 20-scrip S&P SL 20 index gained 1.22 points (+0.04%) to closed at 3,214.64. Price depreciations in Nestle Lanka (closed at LKR 1,900.00, -4.6%), Commercial Leasing & Finance (closed at LKR 3.80, -5.0%),…
It has been revealed that the President had decided to tighten the environmental recommendations for the chosen industries to be established in the Hambantota port complex. Hence, the particular companies have to again prepare their environmental assessment reports of their projects, said Sri Lanka Ports Authority (SLPA) chairman Dr. Priyath Bandu Wickrema while speaking to…
Sri Lanka is the country with the lowest tariffs or rates in the world for internet data that the public normally uses as ADSL and WiFi, says Telecommunications Regulatory Commission (TRC) Director General Anusha Palpita. He told AdaderanaBiz that currently there are nearly two million internet connections in Sri Lanka and it is being targeted…
Veteran Sri Lankan film maker Asoka Handagama, attempting to make his first ‘crowd funded’ film in the island, or resorting to the internet to collect funds for such a movie, told AdaderanaBiz that he has now realized he cannot raise the expected funds through such a process. He expected to raise USD 50,000 through the…
This year there would be more Initial Public Offerings (IPOs) made than last year within the environment created with the decrease in interest rates, believes an expert in the sector. NDB Capital Holdings Chief Executive Officer Vajira Kulatilaka told AdaderanaBiz that already some four companies are preparing to enter the stock market through his company….
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