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Altair adds value to cosmopolitan lifestyle in Colombo



68-floor vertical tower and 63-floor leaning tower

Altair Colombo, well-known for its unique and acclaimed architectural value and splendorous addition redefining the skyline of Colombo, on par with the ongoing real-estate boom, to the new Colombo Skyline, was ceremoniously declared open on 27 th October 2021 by Prime Minister Mahinda Rajapaksa.

The ceremonial opening of the iconic residential towers denotes the epitome of positive and expedient economic backing of neighbouring India to Sri Lanka, with Altair notably, being the biggest FDI investment in Colombo for real estate to date and the only FDI investment from the South City Group of Kolkata, an Indian investor in Sri Lanka of its calibre. Altair, therefore, is truly a symbol and a showpiece of the foreign investment potential in the real estate industry in Sri Lanka for all enthusiastic investors around the globe.

Alongside Mahinda Rajapaksa, the grand opening of Altair was held under the auspices of Special Guest Minister of Youth & Sports, Minister of Development Co-ordination and Monitoring and State Minister of Digital Technology and Enterprise Development, Namal Rajapaksa, Indian High Commissioner Gopal Baglay, Dr. Nalaka Godahewa, Sirinimal Perera (Special Authorized Officer- Altair Project), Sushil Mohta, Jugal Khetawat, Rajendra Bachhawat, Prakash Bachhawat (Directors/Shareholders of South City Projects Kolkata Ltd) and Manmohan Bagree, Director Indocean Developers Pvt Ltd.

The event also exemplifies that customers are now able to initiate the fit-outs of the apartments through a phased out schedule with the total sold apartments ready to be handed over within the next few weeks.

Since, there were architectural and engineering challenges that encompassed unto creation of one-of-its kind edifice, the construction and finishing of ALTAIR posed many complexities which affected construction schedules. Therefore, as the main developer, Indocean (Pvt) Limited., the local subsidy of the world-renowned South City Projects (Kolkata) Ltd expressed their delight over the acceleration of the project progress in the last few months especially amidst the Covid 19 pandemic due to the significant support extended by the Government of Sri Lanka.

The breathtaking real estate masterpiece is a creative magnum opus of living legend Moshe Safdie, creator of Marina Bay Sands and the Jewel in Singapore and many other icons.

ALTAIR comprises 404 luxurious apartments spread across 1.5mn square feet on 68 floors with ventilation, light, privacy and optimally laid out living spaces as its’ design guidance.

With the full completion and the commencement of the handover process, Indocean Developers Pvt Ltd are confident that the lifestyle facelift that Altair would bring into Sri Lanka with sophisticated brand experience would become a true value addition to the vibrant cosmopolitan lifestyle in new Colombo.

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Oil prices rise as Saudi Arabia pledges output cuts – Opec+




(picture BBC)

Oil-producing countries have agreed to continued cuts in production in a bid to shore up flagging prices.

Saudi Arabia said it would make cuts of a million barrels per day (bpd) in July and Opec+ said targets would drop by a further 1.4 million bpd from 2024.

Opec+ accounts for around 40% of the world’s crude oil and its decisions can have a major impact on oil prices.

In Asia trade on Monday, Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel.

The seven hour-long meeting on Sunday of the oil-rich nations, led by Russia, came against a backdrop of falling energy prices.

Total production cuts, which Opec+ has undertaken since October 2022, reached 3.66 million bpd, according to Russian Deputy Prime Minister Alexander Novak.

Opec+, a formulation which refers to the Organization of Petroleum Exporting Countries and its allies, had already agreed to cut production by two million bpd, about 2% of global demand.


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Manpower services agency wins accolades for its contribution to foreign employment sector



Siraj Cafoor, Managing Director of Siraj Manpower Services receives the award

Its MD says. ‘go abroad only if you can work hard’

Siraj Manpower Services, one of Sri Lanka’s leading foreign employment agencies, was honoured with the Three-Star Award at the ‘Golden Awards’ 2023, organised by the Sri Lanka Bureau of Foreign Employment (SLBFE). This award ceremony was organised to honour foreign employment agencies that have made a significant contribution to the development of the foreign employment sector, which is a major source of foreign exchange for Sri Lanka. Siraj Cafoor, Managing Director of Siraj Manpower Services, was presented with the award at the award ceremony which was held at the BMICH in Colombo under the patronage of Minister of Foreign Employment and Labour Manusha Nanayakkara.

Having been established in 2002, Siraj Manpower Services ( has earned a reputation in the field of foreign employment by winning the trust of customers for more than 20 years. It has been offering job opportunities in the Middle East countries such as Kuwait, Qatar, Dubai and Saudi Arabia, and Malaysia as housekeepers, drivers, sanitation workers, labourers and also jobs related to the apparel industry. All these workers are entitled to approved salary scales certified by the SLBFE.

“We always stand for the safety of workers who go abroad through our organisation. We work to solve the problems that arise in relation to the contracts that the workers have entered into. I must mention something special to those who go abroad for employment. That is, you should keep in mind that you go abroad only to work. Go abroad only if you can work hard. You have to remember that you are going abroad to earn some more money and achieve the advancement of your family.” said Siraj Cafoor.

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Direct flights between Istanbul and Katunayake to commence from August



A special discussion between Turkish Ambassador – Demet Sekercioglu and Minister of Ports, Shipping and Aviation – Nimal Siripala de Silva took place last week at the ministry office. The aim of the discussion was to seek authorization to commence direct flights from the Turkish Capital Istanbul to Katunayake, Sri Lanka. The Chief of Turkish Airlines’ South Asia Office Fathi Bozkurt was also present during the discussion.

Currently, Turkish Airlines connects with Sri Lanka through a route that includes a stopover in the Maldives, resulting in an additional travel time of one and a half hours. The delay caused by this routing is not favored by travelers, as emphasized by the Ambassador.

The Chief of Turkish Airlines requested for time and space to be allocated in order to initiate direct flights between Istanbul and Katunaike, thus providing convenience for Turkish tourists and travelers who prefer visit Sri Lanka.

The Minister announced that the request would be forwarded to the Director General of the Civil Aviation Authority of Sri Lanka and the Airport and Aviation Services (Sri Lanka) (Private) Limited. The aim is to establish direct flights between Istanbul and Katunayake starting from August this year.

Turkish Airlines, a renowned airline with a fleet of over 100 aircraft, offers flights connecting Europe’s Vancouver and New York. The Chief of Turkish Airlines said that the new service would not only benefit European travelers but also encourage them to travel to Sri Lanka.

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