 |
 |
|
|
| |
| |
| |
|
|
|
| InvestSriLanka |
| Invest in Sri Lanka. Its investor-friendly economy is set to boom with the dawn of peace. InvestSriLanka highlights investment potential of Sri Lanka by bringing current business news to the reader. InvestSriLanka represents a firm of professionals committed to bringing in quality investments to Sri Lanka in Leisure, Finance, Construction, Agriculture, Alternative Energy and Education. Our multi-disciplinary firm is at hand to provide its services for the success of your special project. Let’s start our dialog today. |
| Language: English |
| RSS Feeds for this Blog |
|
Statistics |
| Unique Visitors: 1202 |
| Total Unique Visitors: 4854314 |
| Visitors Out: 6876 |
| Total Visitors Out: 13840 |
|
|
|
| |
|
|
| |
|
| Ferry Service between Tuticorin & Colombo to Resume by End March. Twice a Week Service Started in June 2011 Stopped in November 2011 due to Technical & Operational Reasons |
| 2012-03-17 22:33:44 |
17th March 2012, www.sundaytimes.lk
The ferry service between Tuticorin and Colombo is expected to resume either by March end or in the first week of April, A. Subbiah, Chairman V. O. Chidambaranar Port Trust was quoted by the Hindu.
Efforts are being made by the port agency, vessel operators and other stakeholders to resume the ferry operations between the two countries.
Most probably, it would resume before April 14, Mr. Subbiah expressed hope.
The international ferry service between India and Sri Lanka after Union Minister of Shipping, G.K. Vasan, flagged off the service at the VOC Port. A nine-deck ‘Scotia Prince,’ the passenger vessel chartered by Flemingo Liners twice a week between Tuticorin and Colombo and vice-versa, stopped its voyage abruptly during November, 2011 for some technical and operational reasons.
The problems encountered by the operators had been addressed and they had also submitted a commitment letter to the port authorities, which indicates the e...
|
| |
|
| Sri Lanka Targets $12bn Exports in 2012 up from $10.4bn in 2011. Upcoming Trade Fair & Weaker Rupee to Help |
| 2012-03-16 23:56:37 |
16th March 2012, www.lankabusinessonline.com
Sri Lanka is targeting 12 billion US dollars in exports in 2012 up from 10.4 billion in 2011 which will be helped by an upcoming trade fair and a weaker rupee, export development board chief Janaka Ratnayaka said.
Ratnayaka said if current trends continue exports may reach a 2015 target of 15 billion rupees earlier than expected.
But Sri Lanka's exports increased over 20 for two years running with a stable rupee at around 110 to the US dollar. A currency depreciation, increases profits of an export firm by cutting real wages of workers.
A depreciating currency impoverishes all wage earners and also destroys capital available for future investment by shrinking the real value of financial savings, including bank deposits and pension funds.
Sri Lanka started to have balance of payments trouble and its currency started to depreciate shortly after 1951 when a money printing 'soft-pegged' central bank was created, abolishing a 'hard peg' or c...
|
| |
|
| Sri Lanka's SLINTEC Signs $01bn Nano Technology Pact to Develop Next Geeneration Plant Nutrition Solutions for India's Nagarjuna Group |
| 2012-03-16 23:46:30 |
16th March 2012, www.ft.lk, By Ramani Kangaraarachchi
The Institute of Nanotechnology in Sri Lanka (SLINTEC) and the Nagarjuna Fertilizers and Chemicals Limited of Nagarjuna Group India entered into a strategic collaboration of US $ one billion to develop the next generation of nanotechnology based plant nutrition solutions. The signing of agreement held at Cinanmon Grand Hotel, Colombo yesterday.
India's High Commissioner Ashok K Kantha said this initiative taken by the leading manufacturer and supplier of plant nutrients in India and the leading technology institute in Sri Lanka in the key area of agriculture will further strengthen the economic engagement between the two countries.
SLINTEC Chairman Mahesh Amalean said these are next generation green products aimed at increasing productivity and income for farmers and creating a sustainable business for all the stakeholders engaged in agri-business.
He said the vision of the government is to make Sri Lanka a destination for nanot...
|
| |
|
| France's AFD Funds Largest Infrastructure Project in Sri Lanka's Eastern Province & Trincomalee |
| 2012-03-16 23:33:51 |
16th March 2012, www.ft.lk
Cabinet has approved a Rs.11.2 billion infrastructure project funded by France for the former war-torn Eastern Province, a Minister said yesterday.
Acting Cabinet Spokesman Minister Lakshman Yapa Abeywardana told the media that the project would fund much-needed infrastructure for the town of Trincomalee in the Eastern Province. The money would also be used to upgrade 100km of highway, build 41km of provincial roads and repair five main bridges.
The Batticaloa-Tirikkondiadimadu-Trincomalee Road (A15) composed of 99 km and the Allai-Kantale Road (B10) spanning 41 km will be the National Highways while Provincial Roads will be the stretch from Mavadichchenai to Kaddaiparichchan (12km). The major bridges are Ralkuli, Upparu, Gangei, Kayenkerni and Verugal, the Cabinet statement noted.
This is the first large-scale infrastructure project funded by Agence Francaise de Developpment of France and was presented to the Cabinet by President Mahinda Rajapaksa. The p...
|
| |
|
| Malaysia's Sovereign Wealth Fund Khazanah Buys 8pct of Sri Lanka's Keells Holdings for $ 114mn |
| 2012-03-16 23:12:57 |
16th March 2012, www.lankabusinessonline.com
Malaysia's Khazanah Nasional Berhad, a sovereign wealth fund has bought an 8.8 percent stake in Sri Lanka's John Keells Holdings in a deal valued at over 14 billion rupees (114 million US dollars), officials said.
Khazanah had bought 74 million shares at 194 with Sri Lanka's Employee's Provident Fund, a state-managed fund of private sector workers' retirement money, among key sellers.
"It is a very positive signal for John Keells and it adds to our very stable long term shareholder base," JKH deputy chairman Ajit Gunewardene said.
Sharhan Muhseen, director investment banking of Bank of America Merrill Lynch, which arranged the purchase, was in Sri Lanka to wrap up the deal, sources said.
The EPF sold 71 million shares at 194 rupees, bringing a capital gain to the fund, Kalyani Gunatilleke, superintendent of the Employees provident fund said.
"It has shown the confidence foreign investors have in the economy," she said.
"It has brough...
|
| |
|
| SWITCH-Asia Sustainable Consumption and Production for Food & Beverage Sector SMEs Sri Lanka Success Stories |
| 2012-03-16 22:58:11 |
17th March 2012, www.dailynews.lk,
SWITCH-Asia Food and Beverages Project of the Ceylon Chamber of Commerce held a mini symposium on Sustainable Consumption and Production recently.
SWITCH-Asia Programme Project Director S.M. Sathiacama, speaking at the event said that the project which was commenced in 2009 helps Small and Medium Enterprises make their production process efficient by conserving energy and translate these savings to profits.
The implementing agency of the project highlighted the importance of food and beverage producers as well as all other manufacturers to be environmentally friendly and adopt practices that conserve energy and resources, CCC Solutions CEO Prema Cooray said.
The event was attended by a large number of the project's stakeholders in the Food and Beverages Industry ranging from plantations to dairy processing companies and representatives from the European Union, the project's funding agency and also personnel from the Ministries of Environment, Fina...
|
| |
|
| Sri Lanka's Renuka City Hotel in a Rs 218mn Expansion |
| 2012-03-16 22:29:41 |
16th March 2012, www.lankabusinessonline.com
Sri Lanka's listed Renuka City Hotels Plc said it is starting a 218 million rupee expansion, amid a tourism boom.
Renuka City Hotels said in a stock exchange filing that it will add 18 new rooms, a swimming pool, gym and staff facilities in the project.
Sri Lanka's tourist arrivals rose 30 percent in 2011 and was up 21 percent in the first tow months on 2012.
...
|
| |
|
| Sri Lanka Tourist Arrivals in February 2012 Up by 27pct |
| 2012-03-16 22:17:04 |
15th March 2012, www.lankabusinessonline.com
Sri Lanka's tourist arrivals increased 27 percent to 83,549 in February 2012, from a year earlier, and visitors during the first two months were up 21 percent to 169,423, the state tourist promotion office said.
South Asia, the second largest generating market, showed an increase of 14.1 percent with Indian arrivals up 12.6 percent to 11,342 and Maldives up 15.4 percent to 2,675.
Arrivals from Western Europe rose 23.4 percent to 38,364, though UK visitors fell 9 percent to 8,746. German arrivals rose 42.6 percent to 7,654, arrivals from France increased 27.7 percent to 6,378 and those from the Netherlands rose 15 percent to 2,596.
Eastern Europe generated 3,675 visitors up 62.4 percent and the Middle East brought 3,675 visitors up 21 percent.
North America showed a 20 percent increase to 4,166 with US arrivals up 17.7 percent to 2,252 and Canadian visitors up 22.9 percent to 1,914.
Sri Lanka's tourist arrivals have boomed since...
|
| |
|
| Sri Lanka to Make $2.25bn from Investments on Oil Blocks in Mannar Basin |
| 2012-03-16 05:21:33 |
16th March 2012, www.dailynews.lk, By Ramani Kangaraarachchi
Sri Lanka is expected to generate over US$ 2.25 billion through investments from shallow water oil blocks in the Mannar basin shortly. The investment will be towards off shore oil exploration,drilling and production and infrastructure in the next five years.
Speaking at a forum organized by the National Chamber of Commerce on 'new business opportunities arising out of oil exploration in Sri Lanka,' Wednesday, Director General, Petroleum Resources Development Saliya Wickramasuriya said an international licensing round for some of the remaining blocks, will be launched during the next three months. Only the shallow water blocks in the Mannar Basin, closest to the coast, will be auctioned initially and he hoped that there will be many companies coming forward to invest in Sri Lanka.
Wickramasuriya said there will be a large number of upcoming business opportunities in the areas such as aviation, environment, catering and tran...
|
| |
|
| Cairn Lanka to Start 2nd Phase of Oil Exploration in Sri Lanka's Mannar Basin. Oil Wells to be Drilled in 2013 |
| 2012-03-16 04:32:34 |
08th March 2012, www.island.lk
Cairn Lanka has commenced the second phase of oil exploration in the Mannar Basin and oil wells are likely to be drilled in 2013 after another round of seismic studies.
Cairn Lanka, the wholly owned subsidiary of Cairn India Limited successfully completed the first phase of the exploration campaign on Sri Lanka’s side of the Mannar Basin on Block SL-2007-01-001 and has delivered two back to back discoveries.
According to our sources here, the seismic study has already commenced in the Mannar block, and the seismic vessel Pacific Explorer has begun its seismic activity. The 3D seismic contract has been awarded to Petroleum Geo-Services (PGS). The seismic survey will be followed by a technical evaluation of the data, data interpretation and then with another drilling campaign. An international tender for this seismic programme was floated by the company last year during the first phase of drilling campaign.
Cairn Lanka had spent over US$ 150 million i...
|
| |
|
| |
 |
|
| |
| |
|
 |
