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Sunday, 3 February 2013

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Vegetable supplies to Pettah Manning Market are still low. Nattamis unloading vegetables from lorries. Pic: Susantha Wijegunasekera

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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