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Full speed ahead on Sri Lanka-China free trade pact

There are all likelihoods of the proposed free trade agreement between Sri Lanka and China being signed end this year and currently both countries are reportedly involved in ironing out any differences in this process. “Discussions are currently in progress between the Sri Lanka Board of Investments (BOI) and the Finance Ministry over the contents…

(0)Comments | March 15, 2014 4:31 am

Lee Hedges Investments signs USD 9.5 million agreement with BOI

Lee Hedges Investments Ltd, a subsidiary of Lee Hedges PLC has entered into an agreement with the Sri Lanka Board of Investment for a US dollar 9.5 million mixed development project on a land in Kollupitiya, disclosed the Colombo Stock Exchange. This Hedges PLC subsidiary project is to provide 112,000 sq. feet of super grade…

(0)Comments | March 14, 2014 11:52 am

Signs of reclaiming Colombo seas beginning soon

The agreement on the proposed port city on reclaimed land near the Galle Face Green in Colombo will be signed next month, says the Sri Lanka Ports Authority (SLPA) chairman. SLPA Chairman Dr. Priyath Bandhu Wickrema told AdaderanaBiz that preparations are under way to sign an agreement with China Communications Construction Company Limited (CCCC) which…

(0)Comments | March 14, 2014 8:37 am

Arpico Finance and Richard Pieris merger report wrong

Arpico Finance denied recent media reports that it is to merge with Richard Pieris, stating that discussions are being held at a very preliminary stage between several prospective parties. Recent newspaper reports indicated that Arpico Finance was to merge with Richard Pieris after which, in an announcement to the Colombo Stock Exchange, Arpico Finance categorically…

(0)Comments | March 14, 2014 8:36 am

Ultra-modern city rising soon in Kottawa

The Urban Development Authority (UDA) is preparing to construct an ultra-modern city on a 25 acre extent of land centered on the main access way to the Southern Expressway at Makumbura in Kottawa. While speaking to AdaderanaBiz, UDA Deputy Director – Planning Priyani Navaratne said that the planning stages of this new city are now…

(0)Comments | March 14, 2014 5:27 am

Massive project as Bloomfield Sports Complex

The Urban Development Authority (UDA) is preparing to implement a project adjoining the Bloomfield Grounds in Colombo under the name ‘Bloomfield Sports Complex’ which is to include a 100 room hotel. UDA chairman Nimal Perera said moves are ahead to involve a local investor in the construction of this hotel complex. “This hotel is being…

(0)Comments | March 14, 2014 4:07 am

Chinese arrivals to Sri Lanka continue to increase

Sri Lanka’s attempts at attracting more visitors from the huge Chinese tourist market are providing dividends with a significant increase in Chinese tourist arrivals this year too. According to official government statistics, compared to February 2013 the number of tourist arrivals from China and Hong Kong to Sri Lanka in February this year has been…

(0)Comments | March 14, 2014 4:05 am

Suicides prompt Government to train students, parents on facebook usage

Following the reports of two Sri Lankan students committing suicide over issues involving the popular social media network Facebook, the government is preparing to raise awareness among the country’s school children and their parents on the ethical and safe usage of social media like Facebook, Twitter etc. AdaderanaBiz learns that the Telecommunication and Information Technology…

(0)Comments | March 13, 2014 8:19 am

Moves to list BOI companies with CSE from day of inception

Securities Exchange Commission of Sri Lanka chairman Dr. Nalaka Godahewa says the commissions has informed the Board of Investment (BOI) that there is a possibility of creating a separate board to list companies under its projects at the Colombo Stock Exchange (CSE) from their inception. Securities Exchange Commission chief Dr. Nalaka Godahewa told AdaderanaBiz this…

(0)Comments | March 13, 2014 7:00 am

Manipal, Raffles Universities branch out to Sri Lanka

India’s Manipal University which is active in 54 countries while catering to the education needs of over 26,000 students and Singapore’s Raffles University are reportedly set to establish their branches in Sri Lanka. Authorities from these universities are already in discussion with the Ministry of Higher Education regarding this, said Ministry secretary Dr. Sunil Jayantha…

(0)Comments | March 13, 2014 5:28 am