Former People’s Alliance lawmaker M. M. Zuhair, PC has said that Western powers will exploit an invitation to probe 2019 Easter Sunday attacks to delve into wartime accountability issues. The following is the text of the statement issued by one-time State Counsel close on the heels of the conclusion of the 51 session of the […]

  Sri Lanka CEO Nick Nicalaou dismisses exit rumours; says local operations robust and post-war future in the country looks very promising   World’s local bank celebrates 120 years of excellence in Sri Lanka on 1 July, invests $ 7 m for major upgrade of Head Office in Fort    By Nisthar Cassim HSBC, which is ...

Sri Lanka Tourism Promotion Bureau MD post is a permanent position and comes under scheme of recruitment approved by Treasury Rumy Jauffer hired on one-year contract sans an application or a CV Not marking attendance, unlimited use of fuel among flags-off in Auditor General’s Department query A host of queries by the Auditor General’s Department ...

By Cheranka Mendis With tourism numbers increasing, Sri Lanka Tourism must now look at aggressive destination promotion, especially at travel and trade fairs abroad. While the industry expressed delight over the tourism authority’s interest in supporting more participation in international travel fairs, the lack of representation of the authority itself is a major drawback to ...

The Central Bank, in its latest Annual Report, has downgraded its growth forecast for 2012 from eight per cent to 7.2 per cent. This is due to a combination of adverse global developments and the negative effects of domestic policy misalignments. The contractionary measures introduced to address the imbalance in the trade account (i.e. to ...

By Cheranka Mendis While Sri Lanka’s largest mega trade, investment and tourism promotion initiative ‘Expo 2012’ has been welcomed by stakeholders as a timely affair, stallholders shared mixed feelings on the order of the show. Some were elated having received inquires just two days into the event, while others expressed disappointment with regard to the ...

With just 12 days to go, Sri Lanka’s largest mega trade, investment and tourism promotion initiative ‘Expo 2012’ has attracted close to 1,200 people, exceeding the expected 1,000 mark, EDB Chairman Janaka Ratnayake said yesterday. Speaking to the Daily FT, he asserted

Executive Vice President and CEO says IFC will explore a good mix of enhanced financing and advisory services on a range of sectors apart from promoting FDIs to the country Encouraged by the post-war optimism the World Bank’s private sector investment arm – International Finance Corporation (IFC) yesterday revealed plans to expand its support in ...

Effects first major move to become a self-made entrepreneur; his new venture N Capital acquires 70% stake Aspires to make iconic 35-room resort luxurious with Rs. 500 m investment to add 50 more rooms under a new wing and plush refurbishment Says deep south will be centre of economic, tourism and recreation boom with air ...

The London Stock Exchange (LSE) is optimistic on Sri Lanka given the strong post-war upside for the economy and capital markets and is urging the country and companies to harness the global giant’s strengths and reach to grow better. “Following the end of the conflict, Sri Lanka has evolved with an attractive and strong growth ...

The world famous London Stock Exchange Group (LSE), whose origins could be traced back to 300 years, will hold its first-ever Board of Directors meeting in Colombo today. LSE Chief Executive Officer Xavier Rolet confirmed to the Daily FT yesterday that though the organisation has held Board

by Nisthar Cassim Youthful MP Namal Rajapaksa is reiterating that mega developments in Hambantota which are having benefits to the rest of the country were taking shape and urged the private sector to cash in early with a mindset of “positivism.”  “We are going ahead with our plans and efforts as we firmly believe in ...

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 ...

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. ...

Yet again proving its resilience amidst global shocks and the recession in the West, the country’s economy in the third quarter has grown by 8.4%, a rate viewed by analysts as faster than expected. The high 8.4% growth in Gross Domestic Product (GDP) was above the 8% achieved in the corresponding period of last year. ...

By Cheranka Mendis Sunquick Sri Lanka, the much loved super concentrated fruit quash will today bring home the prestigious Co-Ro Best country award also known as the Global Sunquick best awards. The award is an annual presentation by the brand owners of Sunquick, Co-Ro Food A/S, a Danish Company awarded for the country that marks ...

Midst gloomy market conditions, the two IPOs worth Rs. 478.5 million of new hotel companies linked to high networth investor Dilith Jayaweera had been oversubscribed on their opening day itself yesterday. Kalpitiya Beach Resort Ltd., offered 16.2 million shares at Rs. 17.50 each raising Rs. 283.5 million and Waskaduwa Beach Resort’s issue was 15.6 million ...