Rs 1.9b lubricant facility to be set up soon
Sri Lanka’s largest lubricant industry player,
Chevron Lubricants Lanka (LLUB) will invest an estimated Rs 1.9 b in
the construction of a new lubricant blending plant at Lindel
Industrial Zone, Sapugaskanda. The construction of the new facility
is a part of the company’s plan to relocate operations when the
lease agreement with Ceylon Petroleum Storage Terminals Limited ends
in July next year.
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Improving service delivery, key in generating revenue
Improving service delivery is the key in
generating substantial revenue from the business boom in the
country. A special effort is required to improve the quality of
service and move the country towards an income-generating service
sector which in turn will serve the tourism industry.
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Mihin Lanka goes to Delhi
Mihin Lanka commenced direct flights to Delhi on
Friday. It's the airlines 10th destination. “As Mihin Lanka will fly
direct to Delhi many pilgrims and tourists need not undergo long and
tiring road and train travel to reach their destinations. Mihin has
the advantage of four direct flights to India,” a spokesman for the
airline said.
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Rs. 300 m invested in Raigam rice noodles facility
The Kingdom of Raigam will complete the
construction of its Rs. 1 b saltern in Kuchaveli next year, Raigam
Group Chairman Dr. Ravi Liyanage said at the launch of its rice
noodles Devani Batha on Wednesday. He said that around 60 percent of
the work on the project has been completed and added that the
saltern will be commissioned as scheduled in 2014.
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Drop in vegetable prices
Vegetable prices in Colombo markets showed a
declining trend last week but supplies are still weak, traders at
the Pettah Manning Market said. The price decline last week was due
to low demand. As prices of vegetables increased to unaffordable
levels the demand has fallen,
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Laugfs to enter hospitality industry
Laugfs Leisure Ltd, a subsidiary of Laugfs
Holdings, held a foundation laying ceremony for its 110-room luxury
hotel in Pasikudah recently.“Construction at Pasikudah is underway.
Laugfs has invested Rs. 2.5 b. The hotel will be built with
state-of-the-art amenities and will offer five-star services and
amenities, including 10 luxury villas, while maintaining four-star
affordability,
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Private sector can thrive in conducive climate
The private sector is recognised as the backbone
of the economy. The contribution that can be made by the private
sector is has been made clear by the experiments of some major
economies that have allocated a prominent role to the private
sector. Several waves of reforms in these countries have sustained
growth for extended periods.
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SMIB branch expansion on the cards
The State Mortgage and Investment Bank (SMIB)
will expand its branch network this year under a major expansion
drive, SMIB, Chairman Jagath Wellawatta said.He said that the bank
will set up 10 branches in major cities this year. Currently the
bank operates 15 branches across the country. SMIB is one of the
oldest banks in the country. Set up as the Ceylon State Mortgage
Bank in 1931,
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