Sri Lanka’s rupee opened stronger at 305.95/306.25 against the US dollar on Monday, with bond yields down and stocks rising by 0.07%, according to dealers. On Friday, the rupee had closed at 306.00/20 against the greenback. In the equities market, Colombo’s All Share Price Index started 7.90 points higher at 12,152, while the S&P SL20,
Colombo’s hospitality scene is set for a refresh as Softlogic Holdings announces the rebranding of its city hotel. Effective June 1st, the property will operate under the renowned NH Collection brand, a subsidiary of Thailand’s Minor International (Minor Hotels). This move signifies a vote of confidence in Sri Lanka’s tourism potential, particularly in the bustling
Indian conglomerate ITC has made its mark on the global hospitality scene with the inauguration of “ITC Ratnadipa,” a luxurious 352-room hotel in Colombo, marking its first overseas venture. The hotel, along with the Sapphire Residence complex, represents a substantial $500 million investment, positioning it as a significant addition to Sri Lanka’s tourism and hospitality
President Ranil Wickremesinghe unveiled ambitious plans to elevate Colombo into a prominent tourist destination, signaling a transformative phase for the city’s development. These plans encompass relocating significant landmarks such as the President’s House to the Madiwela area within the coming decade. Wickremesinghe’s vision extends to leveraging key sites like Republic Square, Navy Headquarters, Old Jetty,
The Colombo stock market experienced a resurgence into positive territory, buoyed by an uptick in investor sentiment and robust turnover. The benchmark All Share Price Index (ASPI) climbed by 0.66%, while the active S&P SL20 saw a 0.4% increase. Turnover reached Rs. 2.5 billion, involving a substantial volume of 207.6 million shares. According to Asia
Cinnamon Lakeside Colombo recently announced a significant leadership transition with the appointment of Nazoomi Azhar as its new General Manager. With a remarkable 25 years of experience managing prestigious hotels in the United Kingdom, Azhar brings a wealth of expertise aimed at revitalizing the hotel’s legacy with a fresh perspective and unwavering commitment to excellence.