R&D Economic Research & Business Development
Chaudhary Group owns hotels in Nepal and other areas. “We are looking at managing some of Nepal hotels,” Jetwing group director Shiromal Cooray said. The Nepali conglomerate — headed by businessman Binod Chaudhary — also has interests in power generation and food and beverages. Cinnovation has a presence in Sri Lanka through Taj Asia, which controls Colombo’s Taj Samudra hotel. Taj Asia is a joint venture between Cinnovation and India’s Tata connected Taj hotel division. Jetwing is also starting the management of Indochina Hotel in Hanoi with Vietnamese partners. It has also been chasing an Indian hotel. But with the end of a 30-year war in Sri Lanka prospects at home are also looking up. The mainstay of Sri Lanka’s leisure sector is Western European tourists. In June, tourist arrivals increased eight per cent. Britain has already relaxed the travel advisory to some parts of the war-torn island, according to the news report. “I am sure this winter will be excellent,” says Cooray. “Arrivals have increased. Our foreign partners are saying the bookings are better.” Sri Lanka and Nepal are planning to restart direct air connection between Kathmandu and Colombo soon. The direct air link is expected to give a boost to the Nepali tourism sector as a majority of the Sri Lankans are Buddhists and love to visit Nepal — especially Lumbini — the birth-place of Lord Buddha. Sri Lanka’s economic growth has been uneven due to adverse shocks like the decades-long ethnic conflict. However, the relatively strong growth record has proved inadequate in substantially reducing poverty beyond the urban areas. The two South Asian countries — both of whom have come out of political disturbances — are on the path to economic recovery. Source: The Himalayan Times Date: 08/09/2009 Gorkhali still shut GORKHA, Aug 8 - Despite the frequent talks with the three labour unions, Gorkhali Tyre Industry which was shut down a month ago has not yet reopened as talks between the unions has not reached any conclusion. All Nepal Industrial Labour Union, All Nepal Chemical and Iron Labour Union and Nepal Factory Labour Association earlier closed the industry after their demands were not fulfilled by the management. Among the demands were dismissing Hari Kafle who was appointed in the advisory committee, life insurance of the workers and providing proper facilities for production. The workers called the strike after they were not paid their full salary for four months after the government declared an increase in the wage rates last year. The General Manager of the Gorkhali Tyre Industry, Vinod Tiwari said that management hadnotbeen able to increase workers' since the finance ministry had not sent a written notice.
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