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Palm Garden Hotels repays debts parent company, subsidiary

Palm Garden Hotels PLC says it has repaid related property borrowings of Rs. 1,093,002,071.00 obtained from Browns Hotels & Resort Ltd and Rs. 207,060,925.00 from Eden Hotel Lanka PLC on 31 January 2015. Palm Garden Hotels is a subsidiary of Browns Hotels & Resort Ltd and Eden Hotel Lanka is a subsidiary of Palm Garden…

(0)Comments | February 17, 2015 12:57 am

Stock Market Review – 16th Feb 2015

Colombo bourse edged lower on Monday amid profit taking in Blue-chip counters. Main share index lost 34.76 index points (-0.47%) to close at 7,300.75 while 20-scrip S&P SL index shed 36.36 index points or 0.88% to end at 4,076.83. Price depreciations in blue-chips such as Bukit Darah (closed at LKR 686.00, -4.2%), John Keells Holdings…

(0)Comments | February 16, 2015 6:16 pm

Listen to this before you go leopard watching in Yala – Video Interview

While there is a unique opportunity for eco-friendly tourism industry in Sri Lanka, tourists are able to watching a diverse species of animals within a short time span within the island. This is the full interview the BIZ 24X7 programme of Ada Derana 24X7 had with John Keells Additional Vice Chairman Chithral Jayatileke on promoting…

(0)Comments | February 16, 2015 11:37 am

Tourist arrivals amidst Sri Lanka’s presidential election

Even amidst a presidential election in Sri Lanka in January, the tourist arrivals during the month as compared the same month in 2014 has increased by 6.6 per cent with the arrival of 156,246 tourists, reveal latest data. There has been a significant growth in Indian tourists where as those from Russia and Ukraine has…

(0)Comments | February 16, 2015 11:13 am

Peter Hill returns to SriLankan

SriLankan Airlines has obtained the services of Peter Hill, a veteran in the civil aviation sector and Chief Executive Officer of the then Emirates managed national airlines, as advisor for a period of one year. Peter Hill was also Chief Executive Officer of Oman Air from 2008 till he left the airlines in December 2011.

(0)Comments | February 16, 2015 10:54 am

Sri Lanka ready for USD 02 million promotion campaign with Bloomberg

Sri Lanka is prepared to enter into a USD 02 million promotional campaign with world renowned business media institution Bloomberg to promote the islands tourism sector, said Sri Lanka Tourism Promotion Bureau Chairman Rohantha Athukorala. This promotion campaign would be for only one quarter of the year. Bloomberg Television is telecast to over 40 countries…

(0)Comments | February 15, 2015 12:23 pm

Wrong steps could aggravate Jaffna water contamination issue, urges Northern Power Company

• Lauds Provincial Agriculture Minister P. Ayngaranesan for condemning the misinformation campaign against the Chunnakkam Power Plant In the light of Environmentalist and Northern Provincial Minister of Agriculture, Livestock, Irrigation and Environment Ponnudurai Ayngaranesan condemning the misinformation campaign against the Northern Power Company-run Chunnakkam power plant, who stated that the protests are politically-motivated and requested…

(0)Comments | February 14, 2015 9:25 pm

Hemaka Amarasuriya to head Sri Lanka Insurance, says Finance Minister

Prominent Sri Lankan entrepreneur Hemaka Amarasuriya is to be appointed as head of Sri Lanka Insurance, Finance Minister Ravi Karunanayake told www.adaderanabiz.lk this evening (14 February). Hemaka Devapriya Senarath Amarasuriya is the Founder President of the Industrial Association of Sri Lanka. Mr. Amarasuriya served as Vice President of Retail Holdings N.V, Senior Regional Vice President…

(0)Comments | February 14, 2015 9:08 pm

Sri Lanka government preparing to obtain USD 4 billion loan from IMF

A high level government delegation that is to visit Washington shortly is to request a loan of around USD 04 billion from the International Monetary Fund (IMF) as a concession to Sri Lanka’s balance of payments. The IMF took steps to provide a concessionary loan of USD 2.5 billion to Sri Lanka in 2009. Finance…

(0)Comments | February 13, 2015 10:55 am

Sri Lanka government to release more land, properties within HSZs

The Cabinet has approved the proposal by the President and Minister of Defense to release another 1,000 acres of land area in different stages in the Palay area being maintained by the Sri Lanka Army and the Sri Lanka Air Force as High Security Zones. This follows a large extent of land from the 11,639…

(0)Comments | February 13, 2015 10:33 am