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The Sri Lanka Vehicle Importers Association completed a week-long tour to Myanmar and returned this week after setting up formal arrangements to open up a business venture with Myanmar. President Sampath Merenchige told the Daily FT that the tour was a success. During the visit they met Ministers
With the rejection of the Cabinet decision proposed to resolve the problem of university academics, the issue seems to be dragging without a settlement. The lecturers’ main demands are a salary increase, increase in Government funding of the education system to 6% of GDP (Gross Domestic Product), end to political interference in education, and establishment ...
The sale of global giant Aviva’s Sri Lankan operations to Asian giant AIA had been signed yesterday in Colombo whilst a formal announcement is expected today as reported by the Daily FT on Tuesday. AIA is a market leader in the Asia Pacific region (ex-Japan) based on life insurance premiums
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison to record 8.3% growth achieved ...
it to Daily FT’s article yesterday, which said ...
By Cheranka Mendis Leading engineering and construction company from Singapore Fonda Global Engineering Lanka (Pvt) Ltd. yesterday agreed to invest US$ 1.5-3 million in a training and testing centre for construction skill workers in Katunayake as per the guidelines of the Singapore Government. The centre will be known as the Overseas Testing and Training Centre ...
Investors reacted positively to Cargills (Ceylon) Plc’s last week’s announcement of its tie-up with world famous restaurant chain TGI Friday’s, with the former’s share price gaining by 2% or Rs. 2.90 to Rs. 158.90 after hitting an intra-day high of Rs. 159. The counter saw 8.501 shares traded between a high of Rs. 159 and ...
The share price of Aviva NDB Insurance Plc yesterday soared to a record high as investors took speculative positions on the impending sale of its control. The company’s stock price hit an all time high of Rs. 448.90 during the day before settling down at Rs. 436.60, up by a whopping Rs. 67 or 18% ...
By Rashika Fazali Dubstep is a growing music genre. It’s best described by a well-known website, AllMusic as: “Tightly coiled productions with overwhelming bass lines and reverberant drum patterns, clipped samples, and occasional vocals.” If absorbing this piece of musical information was hard, try dancing to this music. You will be puzzled but for these ...
By Cheranka Mendis The Sri Lanka Tourism Development Authority (SLTDA) is offering 2717.243 acres of land and 415.7 acres of water body in six selected areas for eco-friendly beach, wildlife and waterfront developments. Located in Kalpitiya, Kuchc-haveli, Bentota, Pasikudah, Dedduwa and Yala, all land offered will be given on a long-term 99-year lease upon payment ...
The unprecedented drought over the past few months due to the long delay of the south-west monsoon affected the entire country, resulting in withered paddy-fields to farmers; chicken farmers forced to slaughter animals due to water scarcity, soaring vegetable prices for housewives, and power cuts for everyone. The effects of the drought, the victims and ...
Houses 400 stalls, 40 international publishers to a expected million peopleBy Cheranka Mendis For Sri Lanka there is no better time to read than now. With Colombo International Book Fair (CIBF) opening its doors yesterday for a nine day journey, it is the time of the year to battle your way through the masses gathered ...
Houses 400 stalls, 40 international publishers to a expected million people By Cheranka Mendis For Sri Lanka there is no better time to read than now. With Colombo International Book Fair (CIBF) opening its doors yesterday for a nine day journey, it is the time of the year to battle your way through the masses ...
In response to the news story titled ‘Sri Lanka flights to Rome and Milan’ published in the Daily FT yesterday, SriLankan Airlines clarified that it is yet to join the oneworld alliance. “SriLankan is expected to join the oneworld alliance
Sri Lanka proud hosts of popular and shorter form of most entertaining tournament played in Asia for the first time; 20-teams, 20-day cricket fiesta ICC World T20 kicks off tomorrow Mega boost for tourism as 500 players and officials alone to take up 9,000 room-nights; hundreds of overseas fans, global sponsor officials and media to ...
Over 15 Sri Lankan senior professionals and young talent in attendance; 17 entries from Sri Lanka in record haul of 4,860 from 23 countries this year The largest-ever creative communications festival in Asia Pacific, the three-day Spikes Asia 2012, kicked off on Sunday in Singapore. Over 500 industry professionals from 27 countries including over 15 ...
Vandenberge yesterday told the Daily FT that ...
By Maheshi Perera The Public Utilities Commission of Sri Lanka (PUCSL) has withdrawn the proposed new tariff on Non-Conventional Renewable Energy (NCRE) within 24 hours of its publication. The new tariff was published on 11 September, but yesterday a fresh notice by PUCSL said it stood withdrawn. “The withdrawal was purely due to a ...
Close to 4,900 entries across 16 award categories A record number of Spikes Asia entries have been submitted this year, totalling 4,860 from 23 countries. The largest creative communications festival in Asia Pacific, which kicks off on Sunday in Singapore, is also set to welcome industry professionals from 27 countries who over two insightful ...
The Colombo Stock Exchange (CSE) is turning to become a real market of producing a dip and a gain within a day, showing early signs of maturity though some remain sceptical overall. Having appreciated by nearly 11% in 12 market days, there was quick profit taking in early morning trading yesterday. This saw the ASI ...
By Cheranka Mendis The fourth edition of Lanka Challenge is now underway with 45 foreign participants making their way to Jaffna in three wheelers. Organized by Large Minority, in the challenge popularly known as the ‘tuk’ or ‘three wheeler’ challenge, it is the first time that participants are taken to the northern quarter of the ...
The Securities and Exchange Commission (SEC) is likely to get a new Commissioner following the Government's decision to make a change as opposed to the previous move. A Finance Ministry official confirmed there has been a change but didn’t give details. Previously Pricewaterhouse-Coopers Partner and former Ex-Officio Commissioner Sujeewa Mudalige was named among new appointees ...
Traders Association Chairman M.S. Rahim told the Daily FT that if ...
By Marianne David and Cheranka Mendis The safari savagery that erupted last week with mobile tented safari operators being attacked seems to have reached a ceasefire of sorts, following two meetings between stakeholders on Wednesday. Employees attached to Mahoora Safari Camps, Kulu Safaris and Leopard Safaris were assaulted by mobs affiliated to the Tissamaharama Jeep ...
Sri Lankan Architect practicing in USA is in Sri Lanka to replicate his success in Panama here “Architecture is an art; a pragmatic art. It is a science, a sensuous science,” says Archt. Dr. Raj Barr-Kumar. Here in Sri Lanka to initiate three projects incorporating sustainability, latest technology and modern design, Barr joined the ...
By Rashika Fazali Only few apartments are seen around Rajagiriya but the most talked about apartment project today is ‘110 Parliament Road’ apartments, located in a serene area with views of the Colombo Golf Course and the National Bird Sanctuary. The apartments feature state-of-the art facilities such as swimming pools, gym, tennis courts, basket ball ...
Commissioners given freedom to decide future course with regard to DG post Dr. Jayasundera says top professionals picked to give leadership to a sound capital market growth Priyantha and Sujeewa served as Commissioners under Indrani Sugathadasa as well Opposition and certain market segments decry choice of men given their conflicting roles By Nisthar Cassim Likely ...
By Marianne David and Cheranka Mendis Sri Lanka Tourism yesterday told the Daily FT that the Department of Wildlife would set up a meeting with both the Tissamaharama Jeep Association and the officials of the three tented mobile safari operators in order to arrive at “an amicable settlement
Dr. Nalaka Godahewa has resigned as the Chairman of Divasa Finance Ltd. last week. Analysts widely believe the move as a precursor to the impending appointment of Dr. Godahewa as the new Chairman of the Securities and Exchange Commission (SEC), which the Daily FT exclusively reported on Saturday
Given first half performance, believes several 2012 Roadmap targets will be missed UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday claimed that most of the Central Bank’s 2012 Roadmap targets were likely to be missed, based on below par performance on the external trade front during the first half. ...