Sri Lanka’s ‘Queen of Melody’ to Launch Two CDs

16th September 2009, firstlanka.com

Sri Lanka’s ‘Queen of Melody’ who leads the oriental and classical type of music with her ringing voice, Visharada Nanda Malani will launch two CDs on September 19 to coincide with the International Book Fair launch at the BMICH, Colombo.

The two CDs are titled- ‘Dedunu Paya’ and -’Mahagiri Arane’ which comprise popular and award winning film songs of this renowned songstress.

These two albums will contain 32 unforgettable hits of this ever green singer which have not yet come out in CD form.

Renowned music directors like the late Premasiri Khemadasa, WD Amaradeva,Shelton Premaratne and Rohana Weerasinghe have composed melodies and music to these ever popular hits.

The CDs have been produced to high quality under award winning Sound Engineer, Dayananda Perera.

Sep 27 - World Tourism Day

16th September 2009, www.news.lk

World Tourism Day (WTD) is celebrated on September 27 annually in worldwide. This year will mark the 30th Anniversary of the UNWTO World Tourism Day and UNWTO has declared this year’s theme as “Tourism Celebrating Diversity”.

The Government has declared a Tourism Week to mark “World Tourism Day” which falls on September 27. The Tourism Week will begin on the 27th of this month and will continue until October 3. The aim is to achieve an environment friendly tourism growth. The Ministry of Tourism is keen to give vigor to the industry to usher economic prosperity.

In this context, Sri Lanka Tourism is planning to organize several programmes to celebrate this year’s World Tourism Day in Island wide with the cooperation of provincial tourism authorities.

The main ceremony will be held in the Mount Lavinia Beach. In addition to that, 2009 WTD celebrations would include a cleaning and tree planting campaign in the Marine Drive.

London Stock Exchange to Buy Sri Lankan Technology Services Company Millennium IT to Gain New Trading System

16th September 2009, www.bloomberg.com

London Stock Exchange Group Plc, Europe’s largest bourse by value of listed companies, agreed to buy Sri Lankan technology services company MillenniumIT for $30 million in cash and stock to gain access to its trading systems.

The London-based exchange expects to complete the acquisition by October and to start moving customers to the new trading system from its TradElect platform by the end of next year, LSE said in a Regulatory News Service statement today.

Sanford C. Bernstein & Co. estimates the LSE could save “almost 70 million pounds ($115 million) in costs, largely as a result of staff cuts, replacing the TradElect system and migrating MTS trading onto the new platform,” Dirk Hoffmann-Becking, a London-based analyst, wrote in a Sept. 14 report.

Traditional exchanges including LSE, Frankfurt-based Deutsche Boerse AG, and NYSE Euronext are moving to new trading systems to cut trading times and costs as a host of new rivals, so-called multilateral trading facilities including Turquoise and Chi-X Europe Ltd., take market share.

“This transaction enables the group to implement a new, more agile, innovative and efficient IT capability for our future business development as well as running a new cash trading platform which will provide substantially lower latency, significantly higher capacity and improved scalability,” LSE Chief Executive Officer Xavier Rolet said in the statement. “It will also offer cost saving opportunities in the future and give the group a footprint in Asia.”

To contact the reporter on this story: Andrew Rummer in London at arummer@bloomberg.net.

Sri Lanka’s First International Construction Trade Fair from October 30

15th September 2009, firstlanka.com

The Chamber of Construction Industry will hold the Sri Lanka’s First International Construction Trade Fair titled – “Excon 2009″ from October 30 to November 01 at the Sirimavo Bandaranaike Memorial Exhibition Centre in Colombo.

The Ministry of Foreign Affairs through the Sri Lankan Missions abroad has provided a wide publicity for the event to attract overseas markets. “Excon 2009″ is an event of National importance.

Excon 2009 is expected to attract a massive participation of Indian Companies as trade stall holders, in addition to a few enterprises from Singapore, Malaysia and Vietnam. This will facilitate the transfer of technology to the local industry. The exhibition could lead to mutually beneficial joint ventures and other partnering arrangements.

Excon 2009 will also enjoy the presence of “Kedella – Art of Living”, the premier interiors exhibition which will have the participation of 50 or more trade stall holders. Industrial Development Authority of the Western Province will also present “Karmantha Navodaya” as a concurrent event of Excon 2009 which will feature around 100 industrialists from the SME Sector.

5,000 French Tourists to Visit Sri Lanka

13th September 2009, firstlanka.com

A French company has informed Minister Prof. G.L. Peiris that 5000 tourists will arrive in Sri Lanka within the next three months. In addition,several leading French firms have expressed their willingness to invest in Sri Lanka with the peaceful situation prevailing in the island.

Authorities of these firms who met the Minister in the French Commercial City of Lyon expressed their desire to go ahead with investments in Sri Lanka and expand their trade. One of these firms is making arrangements to bring 5,000 French tourists to Sri Lanka from October to January.

Minister G.L. Peiris, during an interview with our French correspondent Jagath Wickramaarachchi said more companies were mulling over in making investments in the health, power and constructions sectors.

The Minister said several leading companies which were hitherto not interested in Sri Lanka have displayed their interest. It is due to the peaceful conditions in the South asian island nation, they have said.

Sri Lanka's First 6 Star Hotel to be Set up at kalpitiya

10th September 2009, www.news.lk

A Six-Star Hotel Project is being designed for the first time in Sri Lanka targeting the development of tourism industry. The aim of the project is to bring the local tourism industry to international level by the year 2016,Tourism Ministry sources said.
The Ministry of Tourism has agreed to develop the tourism and hotel sector with the support of foreign hotel companies. Initially, a Six Star Hotel Project is planned in the Kalpitiya area. 4000 acres had been acquired. Massive development is possible in this field when international firms venture into Sri Lanka. This is a luxury hotel chain engaged in up market tourism.

According to the Ministry sources, Hilton is the only Hotel which is in operation with a foreign hotel company. Sri Lanka’s development and economic growth was severely affected due to terrorism. However, with the dawn of peace, a progmme has been undertaken to develop the country. Promoting the tourism sector is one such measure.

Sri Lankan Shares at 28-Month High

08th September 2009, www.lankabusinessonline.com

Sri Lankan shares hit a 28-month high by mid-day trade Tuesday as retail investors bet heavily on the hotel sector and selected blue chips, brokers said.

By mid-trade the benchmark Colombo All Share Price Index (ASPI) was up 1.02 percent (27.34 points) to close at 2,701.89 while the Milanka index of liquid stocks gained 0.83 percent (25.02 points) to close at 3,048.79.

Turnover was 446.1 million rupees.

The ASPI last went pass the 2,700 point mark on 09, May 2007, Thushara Jayaratne of the Colombo Stock Exchange, said.

Retail investors have been betting on the hotel sector in the past few weeks, brokers said.

John Keells Hotels, a unit of the index heavy John Keells Holdings (JKH) conglomerate, traded at 18.25 rupees, up 1.25 on 737,400 shares traded, while Serendib Hotels was at 70.00 rupees, up 2.00.

Tangerine Beach Hotels was at 77.00 rupees, up 3.25, while The Light House Hotel was at 75.00 rupees, up 5.00 on 13,300 shares changing hands.

Stafford Hotels was at 28.25 rupees, up 1.25, while Riverina Hotels went to 69.00 rupees, up 1.00 on 30,700 shares traded.

Nuwara Eliya Hotels was at 400.00 rupees, up 22.00 on razor thin volumes.

JKH was at 139.00 rupees, up 2.50, while Sampath Bank was at 156.25 rupees, up 6.25 by mid trade.