Value added exports: Mixed reactions to tea imports
The import of tea for value added exports will
help the tea industry to gain a competitive edge and boost the image
of Pure Ceylon Tea, said Tea Exporters Association ( TEA) Chairman,
Niraj De Mel opposing the views of certain exporters who are
vehemently against the move to set up a tea hub in country,
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Laugfs to set up overseas resort in Maldives
Laugfs Holdings will expand its footprint in the
leisure sector by setting up its first overseas hotel in the
Maldives. The company is in search for a prime location in the
islands to set up a luxury resort. Laugfs will commission its first
star class eco-resort in Chilaw in December. Work on the 90-room
luxury resort is in progress and it is expected to provide a large
number of jobs in the area.
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TFC-NSB transaction:
No impact on company or depositors
The public should be assured that TFC would not
be affected by the recent TFC-NSB transaction, which is strictly a
private affair between the owners of the shares and NSB, and has no
impact on TFC or its depositors. The Finance Company PLC is a 72
-year- old company and holds the prestige of being one of the
pioneering non bank finance organisations in the country.
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COMBank to expand its overseas footprint
Commercial Bank Chairman, Dinesh Weerakkodi in
an interview with the Sunday Observer Business and Finance said that
the bank would look at other overseas locations to expand its
regional footprint. The bank has overseas representation in Saudi,
Dubai, Abu Dhabi, Sharjah, Kuwait, Qatar, Oman and Jordan. The bank
handles a large volume of exports and imports.
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The Fortress among best hotels in Asia Pacific
The Fortress Resort and Spa won the Best Resort
Hotel in the Asia Pacific region, the Best Resort Hotel in Sri Lanka
and the Best Resort under the Small Hotels Sri Lanka category at the
Asia Pacific Hotel Awards held recently in Malaysia. The awards
recognise the best hotels, hotel architecture, interiors,
construction and design across the entire Asia Pacific region.
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Sri Lanka, a high growth market - VP Publicis Worldwide
Sri Lanka is a high growth market but it is a
small market and it will mature over time, said Executive Vice
President Publicis Worldwide and member of the Management Board
Publicis Group Bertrand Siguier. Siguer who was in Sri Lanka for two
days said that Sri Lanka will take another 10 years to become a
mature market but we are bullish about it. He said that Asia is a
growth area and Sri lanka too will grow.
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Expolanka Holdings acquires stake in Akquasun Holidays India
Expolanka Holdings PLC acquired the controlling
stake in Akquasun Holidays India (Pvt) Ltd at a cost of $ 915,000,
consolidating its presence and strength in the leisure and travel
sectors. Akquasun Holidays, the Mumbai-based destination management
specialist is a B2B Destination Management network company.
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WCISL Awards to tap rural talent
The much -awaited women’s entrepreneurship
awards ceremony conducted by the Women's Chamber of Industry and
Commerce Sri Lanka (WCICSL)will be held on July 15 at the Cinnamon
Grand Hotel. The President of the Chamber, Vindyani Hettigoda said
that one of the prime objectives of the event is to tap rural talent
and give them,
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