Sri Lankan President Mahinda Rajapaksa yesterday announced that the ongoing exploration work in the offshore Mannar Basin has found the existence of a gas deposit in the area.He made this announcement when he addressed a political rally in the Central hills.Meanwhile Cairn India Limited, the firm who is carrying out the exploration wor
SriLankan Airlines Limited says it has greatly reduced its losses and is targeting a return to profitability within two years from now onwards.During the year 2010/2011 the Airlines net loss after tax has been reduced to Rs. 202 million from a massive Rs. 6,034 million recorded during 2009/10.The Group’s Revenue for the year under review ...
In an effort to conserve energy and save money Sri Lanka will install automatic street lights across the island soon, the Ministry of Power and Energy announced. A pilot project of installing automatic street lights is currently underway in Peliyagoda, s suburb of the Sri Lankan capital Colombo, the national news agency Lankapuwath reported. The automatic lights ...
Thirteen new power sets ordered from China by the Sri Lanka Railways will arrive in the country early next year. The contract has been awarded to China South Locomotive and Rolling Stock Corporation Ltd. The estimated cost for this is around Rs 11,900 million. A Sri Lanka Railways spokesperson said the new power sets will include two ...
The latest addition to the Greater Hambantota Development Plan starts its construction on Monday. The yet to be named, 4-Star, 200-Roomed Mattala Airport Hotel begins construction tomorrow and is expected to be completed by the end of 2012 – to coincide with the opening of the Mattala Airport.The contract to build, own and operate the ...
Giordano in ColomboSoftlogic, a leading, dynamic conglomerate in Sri Lanka having expanded into the branded apparel retail sector has unveiled yet another global branded store with its tie-up with Giordano. Having been appointed the authorised distributor for Giordano in Sri Lanka, one of the world’s leading designers, marketeers and distributors of branded apparels, S
For the first time in Sri Lanka Ashok Leyland introduced an ultra luxury passenger bus to be used by the Sri Lanka Transport Board. The bus made in India to international standards boasts of having many industry firsts. This includes wheel chair access where the bus could even be lowered to ground level and be tilted sideways ...
Sri Lanka's national carrier, SriLankan Airlines today launched flights from Colombo to Moscow. Moscow is SriLankan Airline's 52nd destination. Russian Ambassador of Sri Lanka was among the first group of passengers that flew to Moscow in the flight that took off from the Katunayake Bandaranaike International Airport at 7:00 a.m. yesterday. The flight to Moscow ...
Cargills (Ceylon) PLC said yesterday it will invest Rs 500 million in the development of a new shopping and entertainment complex in the heart of Jaffna town.The ground-breaking ceremony is to be held today at 9 a.m., at the project site, No. 420, Hospital Road, Jaffna under the patronage of Jaffna Mayor Yogeswari Patkunarajah and ...
Cleveland Bridge UK Ltd. signed a contact with the Ministry of Economic Development in Sri Lanka to provide up to 210 bridges in rural locations island-wide including the North and East. The project, worth US$ 56 million, will be backed by the UK Government’s Export Credit Guarantee Department (ECGD). ...
Releasing the Global Competitiveness Report (GCR) for 2011-2012, World Economic Forum (WEF) yesterday said that Sri Lanka has made an impressive jump of 10 places in the rankings to 52nd place from the 62nd in the previous year. In the 2009-2010, Sri Lanka was ranked 79th position. The Institute of Policy Studies of Sri Lanka (IPS) ...
