Business News

A new hotel to the east

With the intention of developing the Eastern province, Rs 100 million has been allocated to build a luxuary hotel in Kalladi Batticalo.

The Liyara Beach hotel Pvt Ltd ahs signed an agreement with the BOI on the construction of the hotel.

Accordingly a three star hotel with 30 rooms will be put up in the area. The hotel will include facilities to provide herbal baths and other Aurvedic treatments. A tennis court, a gymnasium and many other facilities will be included in the hotel.

The construction of the hotel will commence at the beginning of this month and the work is due to finish within one year’s time.

Courtesy: Lankapuvath

Investment Board approves sixth mobile telephone service

The Investment Board of Sri Lanka has gained permission to add a new mobile network (GSM) to the set of mobile telecommunication service providers mobile in Sri Lanka.

RTEC Mobile Lanka (Private) Limited, the main supplier of the project has invested US $ 100 million initially in this regard and the company, the newest player in the sphere, hopes that the project would generate lots of new employment opportunities.

RTEC plans to offer fixed lines and broad band internet service in addition to the regular mobile service shortly.

The company has already obtained the required approval from the Telecommunications Regulatory Commission (TRC) to establish 1000 base stations in the country. The fixed phones will be manufactured in China according to designs provided by the company and the GSM equipment will also be imported from China.

Courtesy: Government Information Department

Mihin Air back from 1st January

Mihin Lanka will recommence operations from 1st January 2009. The first flight will be to Dubai from Colombo at 6 p.m.

The new Boeing 787 aircraft with the capacity of 187 passengers arrived in Colombo on Saturday (27th) night from France. The Mihin logo and the branding were also done in France.

The new aircraft was used in France for less than six months. The agreement is to fly 350 hours a week and there would be a mixed crew on board.

The roll out plan for the relaunch include six, weekly frequencies except on Saturdays to Dubai leaving Colombo at 9.15 p.m. and reaching Colombo at 4.30 a.m. the following day.
The Mihin ticket office has already sold 35% of the ticket for the first flight. The airline would be selling a ticket less that US$ 4,100.

The airline would also operate flights to Trichi and Trivendrum from the second week of January. This daily frequency would operate during day time. Mihin would also play the role of a feeder airline to ‘Sri Lankan’ as it would carry many passengers from Trichi and Trivendrum flying to other international destinations using Colombo as a hub.

With Bodhgaya season commencing the airline will operate daily flights from February 15. The airline will be also looking at new Indian destinations after March when the Bodhgaya season ends.
The airline also launched their own home grown call centre.

Courtesy: Lankapuvath

BOI to start new projects

The Board of Investment of Sri Lanka granted investment approval to construct a US $ 4 million apartment complex in Nuwara Eliya.

The project will construct 3 towers. Each Tower would consist of 6 floors. The apartment complex constructed on a 82 perch land. The complex will contain 72 apartments. The complex will also have a restaurant, hall, children’s bay and parking area.  Director S. Kirubanandan said that the market for these apartments is the holiday makers.

Chairman/Director General Dhammika Perera signed the agreement on behalf of the BOI. The BOI Certificate of Registration was formally presented to the investor. Directors of the company S Kirubanandan and N. Surendran of Seagull Residencies signed the agreement to construct an apartment complex in Nuwara Eliya.

The BOI also signed an agreement with Trendpride Lanka (Private) Limited to manufacture plastic products for export. On behalf of Trendpride Lanka (Private) Limited Directors Anura Kumarasinghe and M H M Fazal signed the agreement.

The venture is an initial investment of US $ 500,000.
The business will manufacture plastic products such as PET bottles, polycarbonate bottles and moulding plastic parts for water dispensers.

Production will be done at the manufacturing plant located in Colombo 10. Over 80 per cent of manufactured products will be exported to India, while the balance will be distributed in the local market.

Courtesy: Lankapuvath

SriLankan Airlines signs new collective agreement with Flight Attendants’ Union

SriLankan Airlines has signed a fresh Collective Agreement with its Flight Attendants’ Union, which includes the important introduction of productivity based payments for all cabin staff.

The National Carrier has in recent months focused sharply on increasing employee productivity to turn itself into a more competitive airline.

This is the 4th collective agreement to be signed with the Flight Attendants’ Union, going back to 1998. The new agreement is effective up to 31st May 2010.

SriLankan Airlines has Collective Agreements with all of its employee unions, both in Sri Lanka and overseas. These include the Sri Lanka Nidahas Sevaka Sangamaya, Airline Pilots Guild of Sri Lanka, Association of Licensed Aircraft Engineers, and SriLankan Airlines Aircraft Technicians Association.

The new agreement covers the full range of areas including salaries, promotions, increments, allowances, incentives, overtime, rosters, leave entitlements, holidays, retirement, EPF, ETF, gratuity, medical benefits, workmen’s compensation, staff travel facilities, training, and grievance procedures. It also includes the airline’s new disciplinary procedure.

Courtesy: Lankapuvath