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Bourse gets Rs. 5 b extra lift as SEC finally delights brokers with enhanced credit rule Confirming the exclusive Daily FT report of last Thursday, the Securities and Exchange Commission (SEC) yesterday formally announced the granting of enhanced limit for broker credit, giving an estimated Rs. 5
- Credit ban for illiquid: SEC suspends 12 brokers from giving credit (Category: Business)
- Sri Lanka allows Stockbrokers to lend more credit (Category: Breaking News)
- Brokers, SEC meeting sort out credit rule issues (Category: Business)
- Brokers to submit net capital statement monthly (Category: Business)
How the key industry progressed last yearBy Cheranka Mendis Sri Lanka’s tourism industry, which saw a 30.8% growth over the previous year in 2011, has been driven by key markets India, UK and Germany and is likely to be the foremost contributor in 2012 as well. Named as ‘Visit Sri Lanka year,’ 2011 saw the ...
- Tourist arrivals in Feb. up 27% (Category: Business)
- Tourism triumph! - Ends 2011 with record 855,975 arrivals (Category: Business)
- Treasures of Sri Lanka, the ethical way (Category: Business)
- Warm welcome for record-breaking 800,000th tourist arrival in 2011 (Category: Business)
With the ever-increasing prominence of the Android operating system, with it currently being used on nearly 200 million devices worldwide, Etisalat has chosen to focus heavily on Android-based devices in Sri Lanka and the promotion of services based on the Android OS, especially following the success of the inaugural Etisalat Android Forum held last year. ...
- Etisalat introduces Sri Lanka’s first Android forum (Category: Business)
- Sri Lanka’s business elite assemble for Android Business Forum (Category: Business)
- Southern coast plays host to Etisalat Android Forum (Category: Business)
- Etisalat takes Android to the east (Category: Business)
LTTE rump groups and pro-LTTE organisations are trying hard to achieve their separatist ideology in the countryDefence Secretary Gotabaya Rajapaksa on Tuesday said that there is a possibility of the re-emergence of the LTTE in Sri Lanka, as LTTE sympathisers abroad are still struggling to achieve the LTTE’s separatist ideology in the country. He made ...
- Sri Lanka is still under threat, warns Defence Secy. – Part I (Category: Business)
- Security is still critical in peaceful Sri Lanka – Gota (Category: Business)
- Country must utilise opportunity afforded by peace: Defence Secy (Category: Business)
Central Bank Governor Nivard Cabraal has been increasingly under attack by UNP MP Dr. Harsha de Silva over some of the policies, actions and comments of the professional-turned-politician-turned-Chief of the monetary regulatory authority. Cabraal’s ambitious and robust Roadmap for 2012 and beyond too had come under critique as being overconfident. However, this is unlikely to ...
- CB says no need for FX intervention (Category: Business)
- Can and will sustain rupee defence: CB Chief (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
If time already taken wasn’t long enough then the Securities and Exchange Commission don’t agree, and hence opted to meet again on Monday to take a final decision on relaxation of rules on broker credit. Issuing a one paragraph statement the SEC said “At the 294th Commission Meeting of the Securities and Exchange Com-mission of ...
- Broker Leveraging (Category: Business)
- Credit Rules (Category: Business)
- Credit Play (Category: Business)
UNP MP and Consultant Economist Dr. Harsha de Silva yesterday opined that the Daily FT reported pullout of Aitken Spence Plc from the Colombo port’s new terminal project as a direct fallout of the contentious Expropriation Act. He alleged that the move was a “retaliatory act”
- New construction association takes aim at Anti-Black racism in the industry (Category: Canada)
- Aitken Spence unveils country’s first green printing facility (Category: Business)
- Aitken Spence Hotels observe Earth Hour 2012 (Category: Business)
- Rs. 630 m windfall for Aitken Spence from port venture exit (Category: Business)
The Daily FT’s exclusive expose of Aitken Spence Plc’s pullout from Sri Lanka’s biggest ever FDI project – the upcoming US$ 500 million Colombo South Container Terminal sent shock waves in corporate, shipping, political and diplomatic circles yesterday whilst investors found
- Rs. 630 m windfall for Aitken Spence from port venture exit (Category: Business)
- Harry triggers Takeover Code on Aitken Spence (Category: Business)
- Melstacorp completes Spence acquisition (Category: Business)
- Others secure, Harry misses in scramble for Spence shares (Category: Business)
Respected blue chip Aitken Spence pulls out of biggest FDI project – the $ 500 m Colombo South Container Terminal due to issues with funding and cost escalations Construction cost up 30% to $ 350 m; overall project cost now estimated at $ 595 m up from $ 475 m at bid proposal stage Lender ...
- Deal signed to build Colombo Port Expansion project’s South Container Terminal (Category: Business)
- BOI signs US$ 500 m agreement for Colombo South Container Terminal (Category: Business)
- WORK ON SOUTH CONTAINER TERMINAL OF COLOMBO PORT LAUNCHED (Category: Breaking News)
- AGREEMENT INKED FOR US$500 M AGREEMENT FOR CBO SOUTH CONTAINER TERMINAL (Category: Breaking News)
Heralding a new trend in the business world, the Rotary Alumni of Sri Lanka will be staging the first ever Corporate Athletism programme on 17 January at Hilton Residencies from 4.00 p.m. to 6.00 p.m. featuring some the best in the corporate world. If there is one quality that high performing corporate executives seek for ...
- Aravinda to address Corporate Athletism Forum today (Category: Business)
- Rotary group study exchange programme to Osaka (Category: Business)
- Business Today TOP TWENTY (Category: Breaking News)
Ends 2011 with record 855,975 arrivalsBy Cheranka Mendis The high-flying tourism industry closed the year with a record 855,975 arrivals, marking a rise of 100,000 from the original target for the year. Statistics revealed by the Sri Lanka Tourism Development Authority (SLTDA) yesterday noted that the figure reflects a 30.8% increase from the previous year. ...
- Sri Lanka opens up for a 4 million domestic tourism industry (Category: Business)
- Sri Lanka draws 60,989 tourists in 16 days (Category: Business)
- SL welcomes 800,000th tourist (Category: Breaking News)
A recent front page news item in Daily FT referred to the collections made by botanical gardens in Sri Lanka. While the three main botanical gardens- at Peradeniya, Hakgala and Henerathgoda now attract more visitors, at least two more botanical gardens – one at Mirijjawila
- Gardens inspire cash grant (Category: Australia, Tasmania )
- Tourist Hotspot (Category: Business)
- Bush bounty keeps him busy (Category: Australia, Tasmania )
- Two-car crash halts traffic (Category: Australia, Tasmania )
Fitch Ratings Lanka Ltd. Country Head Maninda Wickramasinghe has sent the following clarification on what it believes as claims and factual inaccuracies in the 30 December Daily FT article titled ‘Fitch to be fixed?’: Fitch has made every effort to be transparent and consistent
- Fitch affirms JKH at ‘AAA’ (Category: Business)
- Fitch affirms JKH at ‘AAA’; Outlook Stable (Category: Business)
- Fitch affirms JKH’s AAA rating (Category: Business)
- Fitch to be fixed? (Category: Business)
Expects 2012 to continue 2011 success despite anticipating slow year By Cheranka Mendis Kia Motors is geared to embrace a phenomenal year in 2012, riding high on the extraordinary success of 2011. Launching the final model that was to be introduced to the local market in 2011, the all new fourth generation Kia Rio, Kia ...
- KIA Motors to invest Rs. 1 b on service facilities (Category: Business)
- KIA To Drive Royal Rugby As Sole Team Sponsor Of 1st XV (Category: Breaking News)
- Ceylon Chamber identifies opportunities in Brazil during FIFA 2014 and Olympics 2016 (Category: Business)
The Colombo stock market showed signs of struggle on the New Year’s first day of trading, managing to close up on a razor-thin margin with a turnover of just Rs. 419 million. In an apparent reflection of continuity of past year’s woes, the ASI gained by 0.01% or 0.4 points whilst MPI improved by over ...
- Foreigners step up buying; net inflow tops Rs. 400 m in two days (Category: Business)
- Market rebounds as sentiment improves (Category: Business)
- Rupee weaker on importer dollar demand (Category: Business)
- Melstacorp enters COMBank; CF Ruffer picks up more shares (Category: Business)
Post-war rebounding Sri Lanka has entered for the first time the Most Valuable Nation Brands ranking compiled by UK-based Brand Finance debuting at number 76 with a value of $ 23 billion. A world renowned specialist in the subject Brand Finance’s 2011 ranking reveals brand ‘Sri Lanka’ is worth $ 23 billion (Rs. 2.6 trillion) ...
- The ‘real’ problem with brand Sri Lanka (Category: Business)
- Brand Finance launches Nation Brands 100 (Category: Business)
- Nation branding: A holistic perspective (Category: Business)
- 2011: Power achievements for Sri Lanka, but… (Category: Business)
The country’s private sector and professionals yesterday called for prioritisation of a host of major issues in the New Year, which in their opinion if effectively addressed will usher in true peace and prosperity. The overriding message is swift delivery, be it policy reforms or implementation of measures well-conceived and available in public or industry ...
- Lanka gears for tourism boom (Category: Breaking News)
- LSSP decries rupee devaluation (Category: Business)
- Arogya 2012 to promote local health sector (Category: Business)
- Govt. keen to support private sector: Cabraal (Category: Business)
The final auction for the year passes by quietly; outlook for 2012 bleak By Cheranka Mendis The rubber industry bid adieu to 2011 on a happy note, marking the year as the best in history for rubber producers, both small holders and plantation companies in Sri Lanka. Colombo Rubber Traders’ Association (CRTA) Chairman M.S. Rahim ...
- No bounce at 2012’s first Colombo rubber auction (Category: Business)
- CRTA wary on prices as major rubber producers curb exports (Category: Business)
- Rubber rues over cess hike (Category: Business)
- Sector report (Category: Business)
POST-war Sri Lanka has entered yet another New Year and come May, the nation will be celebrating three full years since the end of the conflict or fight against terrorism. The Chief Executive of the country President Mahinda Rajapaksa in his message to the nation on New Year sounded emphatic: “Embracing all the victories we ...
- VIDEO: Sri Lanka tries for reconciliation (Category: Breaking News)
- Sri Lanka looking for flexibility from lenders (Category: Breaking News)
- ‘Sri Lanka on fast track to development’ (Category: Breaking News)
- Outrage over Coalition vow to turn back Sri Lankans (Category: Breaking News)
Citrus Hikkaduwa, the maiden venture of the Dilith Jayaweera, Varuni Amunugama Fernando and Sarwa Ameresekere trio, opened for guests last week, heralding a new experience in the popular southern coast. Originally the 50-room Amaya Reef, following the takeover and rebranding Citrus Hikkaduwa is now a 97-room modern and up-market resort. The first guests were a ...
- Passikudah Beach Resort buys 12 acres for Rs. 169 m (Category: Business)
- Citrus ups investment in subsidiary (Category: Business)
- Construction of 150-room Citrus Leisure Waskaduwa begins (Category: Business)
- Celebrating Citrus Hikkaduwa (Category: Business)
With the new year just around the corner, the Daily FT caught up with a couple of celebrated personalities in Sri Lanka who shared their resolutions and ambitions for the coming year and expressed their wishes for the country in 2012
As exclusively reported by the Daily FT yesterday, top professional and senior Board member Dinesh Weerakkody was appointed as the new Chairman of Commercial Bank. At 47 years old, he is also the youngest to be appointed as Chairman of Commercial Bank, the largest private sector bank
- Dinesh Weerakkody appointed Chairman of Commercial Bank (Category: Breaking News)
- Dinesh Weerakkody, new Chairman of the Commercial Bank (Category: Breaking News)
- Dinesh Weerakkody is new chairman of Commercial Bank (Category: Breaking News)
- Dinesh new Deputy Chairman of Commercial Bank (Category: Business)
Dinesh tipped to be appointed Chairman; Dheerasinghe as Deputy; business leader Preethi new face on the Board Commercial Bank is slated to have a special Board meeting today, the second in three days, to elect a new Chairman. The move follows the resignation of longstanding Chairman and Board member Mahendra Amarasuriya, as exclusively reported by ...
- Former CB Deputy Governor appointed to COMBank Board (Category: Business)
- Eraj steps down, Dharma new Chairman at Bartleet Finance (Category: Business)
- Mahendra resigns as COMBank Chairman; Captains’ buy in (Category: Business)
- Dinesh Weerakkody, new Chairman of the Commercial Bank (Category: Breaking News)
Unhappy after questionable downgrade Hayleys fires letter; legal action next? Rating agency Fitch is under fire for some of its judgments and the latest to join the chorus is Hayleys Plc. Seemingly disturbed by the downgrade from AA- to A+ with a negative outlook by Fitch, Hayleys has fired a letter expressing its reservations, ...
- Fitch Ratings has withdrawn Hayleys PLC’s ‘A+(lka)’ National Long-Term rating (Category: Breaking News)
- Hayleys, Fitch part ways (Category: Business)
- Fitch Downgrades Hayleys PLC to ‘A+(lka)’/Outlook Negative (Category: Breaking News)
- RAM says stable but Fitch downgrades Hayleys (Category: Business)
the Daily FT yesterday that guests in member hotels were continuing to enjoy their holiday ...
- Green hotels recognised in Sri Lanka (Category: Breaking News)
- Green hotels recognised in Sri Lanka (Category: Breaking News)
- Green hotels recognised in Sri Lanka (Category: Breaking News)
- Green hotels recognised in Sri Lanka (Category: Breaking News)
The Pathfinder Foundation issued the following response to the IFC opinion piece on its Economic Alert No. 20 titled ‘Improving Sri Lanka’s Business Climate,’ published in the Daily FT: The Pathfinder Foun-dation (PF) is grateful to the International Finance Corporation (IFC
- Easy Biz (Category: Business)
- Business Skills (Category: Business)
- IFC, NTB help small businesses become more competitive (Category: Business)
Special communiqué listing actions taken issued to travel and hotel trade as a confidence building measure Working closely with the defence authorities to ensure greater protection for tourists in possible vulnerable areas Both tourism and law enforcement authorities have thus far successfully handled the unfortunate gruesome attack on a tourist couple in Tangalle over the ...
- Business as usual for professionally-managed southern hotels (Category: Business)
- Tourism decries Tangalle tragedy as biggest setback (Category: Business)
- Tourism in 2012 (Category: Business)
- Take a broader view (Category: Business)
A shocked leisure industry yesterday decried the deadly attack on tourists in Tangalle over the weekend as the biggest setback for the sector which was rebounding following the end of the war. They urged the Government and law enforcement authorities to ensure harshest punishment against those responsible whilst calling for adequate measures to ensure safety ...
- UK and Russia 'commend' investigations (Category: Breaking News)
- UK and Russia 'commend' investigations (Category: Breaking News)
- Business as usual for professionally-managed southern hotels (Category: Business)
- Govt. reiterates law will prevail over Tangalle tourist tragedy (Category: Business)
By Cheranka Mendis The tea industry anticipates mixed signals as the year closes on a high amidst Middle Eastern turmoil which spells evil in the coming year. The industry which is likely to close the year with export revenue exceeding the previous year’s number and breaking the record production volume of 2010, is expected to ...
- Hub is no hoodoo, says TEA (Category: Business)
- Tackling tea travails (Category: Business)
- “ Tea industry is like a candle burning on three sides”: MTI (Category: Business)
- Tea Board to host 20th session of FAO’s Inter-Governmental Group on Tea (Category: Business)
to the article above in yesterday’s Daily FT by the Pathfinder Foundation – in which there a...
- Pathfinder responds to IFC (Category: Business)
- Easy Biz (Category: Business)
- Improving Sri Lanka’s business climate (Category: Business)
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