Colombo Business

http://colombobusiness.com/news.php?NewsID=99


Sri Lanka Shangri La hotel to start building in October

A 450 million US dollar project by Hong Kong based Shangri La in Sri Lanka\'s capital Colombo will begin construction by end October investment promotions minister Lakshman Abeywardene said.

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Sri Lanka Bank of Ceylon to sell Rs8.0bn in debt

Sri Lanka's state-run Bank of Ceylon is to raise 8.0 billion rupees through subordinated debt, Fitch Ratings said giving a rating of 'AA(lka)', one notch below its national rating.

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Sri Lanka tourist arrivals up 26-pct in Aug; India, China surge

Sri Lanka's tourist arrivals surged 16.1 percent in August 2013 from a year earlier to 100,224, with India, Germany and China surging, official data showed.

Arrivals up to August were up 14.3 percent to 711,446.

Indian arrivals, the largest source market, rose 29.2 percent to 14,528 in August showing strong growth for the second month in a row after bucking a near two year trend in lackluster performance.

Arrivals were up despite a weaker Indian rupee, which could indicate that other destinations, where greater distances are involved, have become even less affordable, analysts say.

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Sri Lanka John Keells Holding in cash call

Sri Lanka’s John Keells Holdings said it will sell two shares at 175 rupees for every 13 existing share to raise money for an integrated resort project.
Each subscribed rights will also carry a two warrants. A warrant will be given for every three subscribed rights, allowing the holder to buy an ordinary share at 185 rupees, two year after its issue.
The second warrant will allow the rights holder to buy an ordinary share at 195 rupees three years after the issue date.

http://colombobusiness.com/news.php?NewsID=90
Sri Lanka inflation up 6.3-pct in August

Sri Lanka's inflation measured in the capital Colombo rose 6.3 percent in the 12-months to August up from 6.1 percent in July, though prices fell during the month, the state statistics office said.