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Message: <blockquote data-quote="Dharatha" data-source="post: 22024866" data-attributes="member: 14094">NAVIGATE:Home  »  » Shangri La deal strengthens rupee?Shangri La deal strengthens rupee?December 29, 2010, 6:51 pm Dealers speculated that the Shangri La deal concluded between the Hong Kong based hotel chain and the government has resulted in an inflow of US$ 75 to 100 million on Tuesday.<a href="http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=14603" target="_blank">http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=14603</a>"There was an inflow of dollars on Tuesday and we believe it could be a result of the Shangri La deal. We believe the inflow amounts to anything between US$ 75 to 100 million," a dealer told The Island Financial Review.At the time of going in to press, senior officials of Sri Lanka Tourism, and Bank of Ceylon were not available for comment.The rupee began the week at Rs. 111.30 against the dollar and strengthened further to Rs. 110.90 on Tuesday. At the time of writing yesterday (29), the dollar was trading at 110.88/93, dealers said.Shangri La Hotels is planning to construct the only 7 star hotel in a 10 acres plot owned by the Defence Ministry overlooking the Galle Face green.The project is estimated at US$ 500 million.Shangri La is also planning to develop 150 acres of land in Hambantota.So according to this  GOSL sold prime land in middle of de city for LKR 6.9 million..MR is such a generous guy</blockquote>

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