Amidst woes in US and European markets, Sri Lanka’s apparel sector has survived to grow with the outlook for the next few quarters remaining positive, industry sources told the Daily FT yesterday. Whilst July saw earnings from textiles and garments increase year on year by 5% to US$ 385

Despite being a regional leader in enforcing standards, Sri Lanka still has a long way to go before reaping the full benefits of having its exports globally accepted. Studies have shown that a country can add as much as 1% to its GDP by proscribing to international standards. Daily FT met

Growth assets are a good investment in the current climate Felix Stephen is the Manager Investment Strategy and Research at Advance Asset Management Ltd., Sydney, aapart of Westpac, which is one of the big four banks in Australia. He spoke to the Daily FT about the global economy and investment

Way to wow the world? Issuer of Rs. 7 b biggest post-war IPO People’s Leasing confident of success midst challenges Says pricing attractive with good upside, robust leasing industry growing at double digit Preferential allocation for foreigners; strong appetite following road shows in Singapore, Hong Kong; next stop is three cities in India; managers believe ...

NIMS University India has launched its MBA in Sri Lanka following the establishment of its Sri Lanka Campus in July 2011. It is an MBA conforming to international standards with 18 taught modules over a two year period. It is delivered by an unmatched panel of lecturers including both academics and industry practitioners. This quality ...

By Cheranka Mendis Classic Travel (Pvt) Limited early this week partnered with the holiday division of Thai Airways International, Royal Orchid Holidays who promises to ‘provide unmatched experiences to the Sri Lankan holiday maker.’ The agreement appoints Classic Travel as an agent for Royal Orchid Holidays. Chief Executive Officer Classic Travel Suresh Mendis speaking to ...

This is the fifth article in the Daily FT’s fortnightly series titled ‘Business of Sports,’ focusing on the back office of the various sports administered and played in this country. Readers are invited to share their views and express their opinion via email to editor@ft.lk

of the municipality on an election extravaganza. In a candid interview with the Daily FT, the ...

United National Party mayoral candidate A.J.M. Muzammil speaks to the Daily FT, predicting his victory at the forthcoming elections. Pointing out that if elected his opponent Milinda Moragoda will have no power to run the council, Muzammil says Moragoda is only the horse and the jockey is Gotabaya

IOS says that SL can take local benchmarks to the world to grow exportsBy Uditha Jayasinghe Sri Lanka’s attempt to broaden its presence in international markets must be led with its adherence to international standards and best practices, says an international expert. The International Organisation for Standardisation (IOS) Secretary General Rob Steele told the Daily ...

By Cassandra Mascarenhas Professional Edge Consulting, a Canadian company based in Ottawa headed by young Sri Lankan entrepreneur Praveeni Perera is set to commence its entry onto a global platform in Sri Lanka with the launch of ‘Manners in Management’, a two-day conference in business etiquette to be held in March 2012. The company offers ...

President seeks legal advice; Major General has 21 days to respond By Nisthar Cassim in New York Sri Lanka’s Deputy Permanent Representative in the United Nations Major General Shavendra Silva yesterday said he was prepared to face any international court for the sake of Sri Lanka and defend the country. He had been served summons ...

Says business environment needs to improve, seventh review to be concluded in December By Deepal V. Perera in Washington DC The International Monetary Fund (IMF) yesterday stated that in the face of the global downturn, the performance of the Sri Lankan economy has been impressive. “The Sri Lankan economy suffered a lot during the conflict ...

By Nisthar Cassim in New York President Mahinda Rajapaksa described his engagement with the United Nations member countries last week as very successful for him personally and Sri Lanka at large. “I am very happy with the visit as it was very productive and through our discussions we were able to portray the true picture,” ...

Buoyant on a lucrative trend, Sri Lankan rubber manufacturers have requested the Trade Ministry to double the cess on raw rubber exports, creating the stage for a clash with producers. Sri Lanka, the seventh largest natural rubber exporter in the world, has decided to increase taxes to reduce raw rubber exports, the Trade Ministry stated ...

John Keells Holdings Plc is empowering its leisure group staff with training from the world-renowned Jumeirah Group-linked Emirates Academy of Hospitality Management (EAHM) in Dubai. The company said yesterday that over 500 leisure sector employees have so far undergone training and exposure on both practical and theoretical aspects of hospitality and service excellence as part ...

By Cheranka Mendis Creating the first ever global partnership in launching an international MBA programme via mLearning platform, Mobitel on Monday tied up with Edinburgh Napier University, Scotland, one of UK’s top 10 universities, to offer world class MBA qualifications for local students. The tie-up would enable students island wide the opportunity to hold a ...

Targets hotel sector; offers seven FCS products to local customersBy Cheranka Mendis Supporting the boost in tourism, integrated solution provider Fentons Limited forged a partnership with one of the world’s leading hospitality solution providers, FCS Computer Systems, on Wednesday, offering Sri Lankan hospitality industrialists world class solutions for their companies. The partnership, whi...

Top blue chip and consumer brand Cargills (Ceylon) Plc is diversifying into banking, a move which the industry feels already crowded but Central Bank justified its provisional approval saying in the futuristic context the country isn’t overbanked. Cargills yesterday announced that the Central Bank has issued a provisional approval to set up Cargills Agriculture and ...

By Cheranka Mendis Pioneers in ayurvedic hospitals and resorts, Hettigoda Group yesterday ceremonially opened its newly renovated Siddhalepa Ayurveda Health Resort in Wadduwa. The resort which has been completely renovated and refurbished at a cost of Rs. 150 million in a period of two months is looking at expanding and adding more features within the ...

* Makes $ 28 clean bid for fixed line CDMA operator * Dialog chips in with $26.5m bid with option to enhance it to $31 m subject to VRS for 250 staff among other clauses * SLT evaluates but conveys in writing its decision not to bid Sri Lanka’s latest conglomerate Vallibel One Ltd., (VOL) ...

By Cheranka Mendis Sri Lanka’s latest national branding attempt ‘Pure Ceylon Cinnamon’ was officially launched on Friday to a forum of diplomatic missions in the country. The brand was initially unveiled at the Presidential Export Awards in June this year by President Mahinda Rajapaksa. The launch to diplomatic community on Friday and industry in general ...

The Sri Lanka Private Sector Assessment of the Report to the United Nations Secretary General by the Panel of Experts on accountability in Sri Lanka was released on Thursday. The private sector critique is a compilation of views raised by a private sector group in Sri Lanka who are concerned about the content of the ...

Ex-England skipper Martin Corry during a three day visit to Sri Lanka to train the Navy rugby team finds time to have a chat with Daily FT. His visit was arranged and funded by Frontier Automotive Ltd., sole agent for Land Rover in Sri Lanka, Principal Sponsor of the Sri Lanka Navy Rugby teamBy

Asia Capital recently sold its 53% stake in Asian Alliance Insurance and a 40% stake in Asia Siyaka, realising Rs. 2.3 billion. It now plans to forge ahead with a new portfolio of investments in films, hotels and IT. Asia Capital’s senior management outlined these plans and its forthcoming Initial Public Offering, plans to float ...

Former Chief Justice Sarath N. Silva this week fired yet another bold and sharp salvo decrying corruption and its growing menace in the country. He was emphatic in saying anti corruption laws were “ineffective” whilst also accusing Government officials of handing out contracts without calling for tenders as per a Reuters report which the Daily ...

Pledges to import more from Sri Lanka; encourage more Chinese tourists in tandem with greater connectivity during official talks with President Mahinda Rajapaksa The Chinese Government has assured Sri Lanka it will increase imports as well as encourage more tourists, two moves which will further boost ties between the two countries. This assurance was given ...