Showing posts from November, 2012

Sri Lanka's Bank of Ceylon to build a 5 star Diamond Hotel of 500 rooms

Bank of Ceylon, a Sri Lanka state owned bank has planned to build a 5 star Diamond Hotel which will have 500 rooms after the completion of the three stages. The hotel will be developed in Grand Oriental Hotel owned by the Bank of Ceylon and adjoining lands owned by the Police Department which are situated in prime land in Colombo Fort. The heritage outlook of the 170 year old colonial era Grand Oriental Hotel is to be safeguarded in the development. Bank of Ceylon expects US $ one billion investment in the public private partnership (PPP) basis. Bank of Ceylon has prepared a comprehensive redevelopment project proposal in this regard. Grand Oriental Hotel came into being in 1870. In 1954, it was handed over to the Bank of Ceylon following negotiations for a price of Rs. 6, 250,000. In 1963, the hotel was renamed as Hotel Taprobane. The re-designing was undertaken by famous architect Mr. Geoffrey Bawa in 1966, which saw the birth of the restaurant – the Harbour room, which o

Sri Lanka to apply for membership of International Sugar Organization

Sri Lanka government has decided to apply for the membership of the International Sugar Organization. The cabinet of Ministers has endorsed a proposal set forth by the Ministry of Minor Export Crop Promotion in this regard. The International Sugar Organization which was launched in 1962 is an intergovernmental body devoted to improving conditions on the world's sugar market through debate, analysis, special studies, transparent statistics, seminars, conferences and workshop. It presently has a membership of 50 nations including European Union. The annual per capita consumption of sugar in Sri Lanka is around 30 kg and the current total annual requirement of sugar in the country is about 550,000 metric tons. Sri Lanka produced 35,000 metric tons of sugar in 2011.  

Commemorative coin issued to mark Japan Sri Lanka relationship presented to the President

Governor of Central Bank Ajith Nivard Cabral will present the President Mahinda Rajapaksa a commemorative coin issued by the bank to mark the 60th anniversary of the diplomatic relations between Sri Lanka and Japan today at the Temple Trees. The commemorative one thousand rupee silver proof coin will be issued to public since today. In obverse, the coin carries a colour print image of the Upper Kotmale Hydropower Project, located within the central hills in Sri Lanka built with the assistance of Japan. This is the first coin minted in Japan and first coin with an actual multi-colour photograph. Sri Lanka established diplomatic relations with Japan in 1952 and since then, the two governments have enjoyed a very prosperous and steady friendship with the Tokyo also contributing to several government initiatives and infrastructure projects in Sri Lanka. First-Strike of the issuance of 1,000 Rupee Commemorative Silver Coin, Ceremony was held at the Japan Mint of Tokyo Bureau on 4th