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The Government has gazetted a Bill, on 27 July 2012, to set up a Divi Neguma Department, which will take over the existing Samurdhi Authority, the Southern Development Authority and the Udarata Development Authority (successor to the Kandyan Peasantry Commission). The Bill will also set up a Divi Neguma Community Based Organisation, Divi Neguma Community ...
- Regulation of microfinance institutions (Category: Business)
- Unregulated microfinance - A high-risk strategy (Category: Business)
- New department to drive ‘Divi Neguma’ (Category: Business)
- Finance: Restrictions on use of the word (Category: Business)
2012 unlikely to match up to 2011 tea revenue; stakeholders’ voice uncertaintya By Cheranka Mendis The tea industry which brought in revenue of approximately US$ 675 million within the first six months of this year – US$ 50 million below the revenue collected in the same period in 2011 – is likely to fall short ...
- Hub is no hoodoo, says TEA (Category: Business)
- Tackling tea travails (Category: Business)
- Tea exporters want Gota to defeat mafia (Category: Business)
- Industry discusses Ceylon Tea’s ‘ExclusiviTea’ (Category: Business)
By Reshma Kapadia Emerging Markets Daily: With so much angst over India, some investors are looking for other ways to play the subcontinent and setting their sights on Sri Lanka. The country, a major shipping hub attracting a good deal of investment from China, is rebuilding after a three-decade civil war that left parts of ...
- Sri Lanka's time to bloom has come (Category: Breaking News)
- Russia expresses support to Sri Lanka in all its efforts (Category: Breaking News)
- 'Sri Lanka beginning to shine as glamour centre' (Category: Breaking News)
- Sri Lanka’s per capita income to rise to US $6000 – Central Bank Governor (Category: Breaking News)
Approves $ 15 m loan to DFCC Vardhana Bank for relending for home purchase or rehabilitation in post-conflict and tsunami-hit areas Sri Lankans living in post-conflict and tsunami-hit areas will soon have better access to badly-needed housing loans, after the Asian Development Bank (ADB) approved a $ 15 million (nearly Rs. 2 billion) loan to ...
- $90M project to address water, sanitation issues in conflict-affected areas (Category: Breaking News)
- North on rapid overhaul track (Category: Breaking News)
- State Banks Taboo (Category: Breaking News)
- Rate Ceiling (Category: Business)
Human rights Human rights are on the top of agenda today. Nations accuse each other of violations of human rights of themselves and others. Rights are generally violated during conflicts and wars as the strength of the weapon supersedes peace over and stability and rule of law. There is no shortage
- Make preparations count (Category: Business)
- Govt. readies for next UN session with national plan for human rights (Category: Business)
- Govt. appoints ministerial committee on human rights ahead of UNHCR sessions (Category: Business)
THE cost of living is a daily state of being, rather than a condensed number for the masses. However, the latest August data depicts dangerous signs for the Government as it heads towards elections. On Tuesday President Mahinda Rajapaksa was seen visiting the drought-hit regions ahead of his campaign trail in the three provinces that ...
- Inflation seen at 42-month high in July (Category: Business)
- Rupee fall drives inflation to 41-month high (Category: Business)
- CB says policy rates appropriate (Category: Business)
- India’s inflation hits three-year low, cenbank seen unmoved (Category: Business)
The construction industry’s leaders showed off their latest innovations at Sri Lanka’s largest construction exhibition, ‘Construct 2012’ held recently at the Sirimavo Bandaranaike Memorial Exhibition Centre. United Tractors and Equipment (PVT) Ltd. (UTE) shone at the exhibition’s construction machinery and equipment show, of which they were the main sponsor, for the f...
- The best in the business display their wares at ‘Construct 2012’ (Category: Business)
- UTE celebrates 65 years of contribution towards infrastructure development (Category: Business)
- Prime Coat, official sponsor of Construction 2012 exhibition (Category: Business)
- UTE takes modern welding technology to Jaffna (Category: Business)
Following are excerpts of the address by A/Plnr Deshabandu Surath Wickramasinghe, President of the Chamber of Construction Industry, Sri Lanka, at the Colombo School of Technology Graduation: I am pleased to be present as the Chief Guest at the first Graduation Ceremony of 30 HND Graduates who will receive their Diplomas. The Colombo School of ...
- Ceylon Institute of Builders to organise Construction Expo 2012 (Category: Business)
- CIOB to host ‘Global Challenges’ in Construction International Symposium (Category: Business)
- Manpower snag to hit mega construction projects (Category: Business)
- CONSTRUCT 2012 in Colombo in August (Category: Business)
Reuters: The Central Bank believes the rupee can strengthen to around 125 per US Dollar due to high foreign inflows into the economy, the Head of the country’s monetary authority said of Monday. Since April, the Central Bank and Finance Ministry have repeatedly said the rupee should stabilise at around 125 per dollar, given the ...
- CB says no need for FX intervention (Category: Business)
- CB says rupee outlook unchanged from 125 (Category: Business)
- Pressure on rupee to ease on inflows: CB (Category: Business)
- Rupee’s value: Out goes 125; welcome 132 (Category: Business)
In the aftermath of the successful Indo-Lanka CEO Forum held last week, more and more top Lankan CEOs are vying for partnership with Indian biz. And four top Lankan corporates want to enter the upcoming Trincomalee’s Manufacturing Special Economic Zone. “Almost all Lankan CEOs at the Forum were keen to increase trade with India. More ...
- Top Lankan CEOs bullish post Indo-Lanka meet (Category: Business)
- Confidence falls as CEOs prepare for more shocks (Category: Business)
- Sri Lanka to ask for fair share of Indian market at first bilateral CEOs Forum (Category: Business)
- Who’s who in global ranking of India’s best CEOs? (Category: Business)
LONDON (Reuters): Oil rose above $114 per barrel on Monday to the highest in more than three months as concern about supplies and hopes that governments will roll out more stimulus measures trumped signs of weakening fuel demand. Supply of the North Sea crudes underpinning the Brent crude contract is set to hit a record ...
- Oil up to $119, supply concerns support (Category: Business)
- Saudi says high oil prices a worry, will take steps (Category: Business)
- Oil falls, awaits US jobs data, storm (Category: Business)
- Oil sinks below $ 100 to 16-month low on economy, demand worries (Category: Business)
Reuters: Brent crude fell below $113 a barrel on Friday as a sharp slowdown in China’s trade flows heightened worries about demand for fuel, putting to one side hopes of stimulus measures aimed at lifting global growth that could boost oil use. China’s July exports rose just 1 per cent from a year earlier, undershooting ...
- Brent oil set to end yr up 14%, record high average (Category: Business)
- Brent slips to $102 on worries about euro zone economy (Category: Business)
- Oil creeps toward top of Asia’s economic worry list (Category: Business)
- Brent slips below $123 (Category: Business)
The country has entered into an era that was not witnessed for past 25 years. Growth rates of the economy cannot even be compared during this period as the ground situation in micro terms have changed drastically that was never before during a quarter of a century. The volatility and events of macro factors make ...
- Economic growth to rebound in 2013: SCB (Category: Business)
- Economic Outlook: A tough year ahead but measures in right direction (Category: Business)
- OPIC funding to provide opportunities for growth (Category: Business)
- 2012 Budget in focus (Category: Business)
SINGAPORE (Reuters): The Ceylon Petroleum Corp is seeking a rare better-quality diesel grade due to a temporary domestic shortage caused by a drawdown in stocks after the firm delisted oil trader Vitol, industry sources said on Monday. The company is seeking 26,000 barrels of gasoil with 500
- Asia gasoil/gasoline-Sri Lanka's Ceypetco buys Feb cargo (Category: Breaking News)
- Sri Lanka's Ceypetco removes ban on Vitol for fuel tenders (Category: Breaking News)
- CPC seeks 310,000 barrels gasoil, gasoline (Category: Business)
- Ceypetco buys Feb cargo at a premium (Category: Business)
An industry first career development path in Transport, Logistics and Trade (TLT) has been introduced by the Shippers’ Academy Colombo (SAC), with its collaborative partner, Sri Lanka Foundation (SLF), which comes under the Presidential Secretariat. The career path has three segments, where a three month certificate course will lead to a requirement fulfillment of the ...
- Off Line (Category: Business)
- Sri Lanka Foundation and Shippers’ Academy partner to boost training (Category: Business)
- More Training Courses From Shippers’ Academy (Category: Breaking News)
In the global public relations business, Asia is also rising. The flow of Western talent and treasure into the region is well known in our industry, but less visible is the advance of many powerful Asian consultancies with international ambitions which are rising fast. On my 10th anniversary here I would like to share 10 truths ...
- J. Walter Thompson launches new communications integration agency brand (Category: Business)
- Leo Burnett celebrates exceptional year in 2011 (Category: Business)
- A ‘modern’ definition of public relations? Why? (Category: Business)
Politically-motivated violence or a riot is a form of civil disorder characterised often by what is thought of as disorganised groups lashing out in a sudden and intense rash of violence against authority, property or people. A riot could also be due to a perceived grievance or out of dissent. Political violence was seen in ...
- Heed people’s call for new political model (Category: Breaking News)
- Sovereign People, Legal Despotism & Aragalaya (Category: Breaking News)
- A sad state of affairs (Category: Business)
- Sri Lankan elections: A new dimension (Category: Business)
Reuters: Congestion at Indian ports is delaying corn and rice shipments to Asia and Africa, dealing a fresh blow to buyers stung by record-high global grain prices as a worsening US drought threatens to spark a shortage in food supply. Ships faced up to 25 days of waiting at ports on India’
- Hot, dry summer will mean higher food prices, minister says (Category: Canada, Ontario)
- Heat, lack of rain threaten crops in Central, Eastern Canada (Category: Canada, Ontario)
- Ontario asks federal government for drought relief (Category: Canada, Ontario)
- Japan says El Nino emerges, raising fears on food prices (Category: Business)
We talk more about absenteeism. A new research trend has emerged to look into the opposite of it. There are confusing definitions and complicated diagnostics yet the path is worth exploring. Today’s column is all about presenteeism. Overview Absenteeism, generally defined as not showing up for scheduled work, has a long research history. This ...
- Taming the ‘monsters’ (Category: Business)
- Qantas raising fares to tackle high fuel cost (Category: Business)
- SLT 1H operating profit up 15% to Rs. 3.36 b (Category: Business)
- Economic management and the way forward (Category: Business)
By Shamil Samsul Mueen 1. Introduction The global financial crisis has raised imperative issues concerning the stability and reliability of existing financial systems. This has driven an extensive global re-examination on the competence of the existing financial architecture and the search for a more enduring solution. As a result an increasing interest in Islamic finance ...
- HNB launches Al-Najah Islamic banking unit (Category: Business)
- Islamic finance: Challenges and opportunities (Category: Business)
- Islamic banking and finance advisory services to assist financial institutions (Category: Business)
By Cheranka Mendis While the aggressive expansion plans for ports in the country are being commended by many due to the potential they hold for the future, it has not been easy sailing for the Sri Lanka Ports Authority (SLPA), which has had to face many turbulent waves ever since development work began. SLPA Director ...
- China Development Bank to lend $ 350 m for CMHI-Spence port project (Category: Business)
- Deal signed to build Colombo Port Expansion project’s South Container Terminal (Category: Business)
- Development of ports will accelerate economic growth: SLPA Chairman (Category: Business)
By Cassandra Mascarenhas Setting its sights on placing Sri Lanka in the global economy and expanding its reach in overseas markets, the Sri Lanka Economic Summit 2012, the Ceylon Chamber of Commerce’s annual flagship event, aptly themed ‘Positioning Sri Lanka in the Global Economy,’ commenced last evening at the Cinnamon Grand. In the context of ...
- Lion leads frontier markets (Category: Business)
- Young political guns speak up for economy (Category: Business)
- Ceylon Chamber spearheaded repositioning post-war Sri Lanka forum kicks off today (Category: Business)
- Sustainability in volatility: The bankers’ challenge (Category: Business)
Sri Lanka Ports, Trade and Logistics Conference kicks off By Cheranka Mendis Sri Lanka’s potential as a major maritime and shipping hub in the South Asian region was showcased yesterday at the launch of the two-day Sri Lanka Ports, Trade and Logistics Conference and Exhibition held at the Hilton, Colombo. While times are challenging for ...
- Sri Lanka needs more base cargo to face future competition (Category: Business)
- South Asian ports need synchronised development (Category: Business)
Sri Lanka’s new development tagline Sri Lanka’s current development tagline has been to make it the ‘Emerging Wonder of Asia’ as originally enunciated in the ‘Mahinda Chinthana: Vision for the Future’ and reaffirmed in both the Development Policy Framework of the Government issued in 2010 and the Annual Report of the Ministry of Finance and ...
- Achieving economic goals amidst global challenges (Category: Business)
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
President of the UNCSD, Secretary General of the UN, excellencies, ladies and gentlemen, it is indeed a great pleasure for me to be here in Rio de Janeiro and to share my thoughts at this momentous event. The presence of so many Heads of State and Governments, Senior Ministers, Officials and thousands of members of ...
- Rio+20 and the developing world (Category: Business)
- President faults developed nations for environmental crisis (Category: Breaking News)
- Saving environment: not task of developing countries alone: President at Rio+20 (Category: Breaking News)
- World leaders gather at RIO for Sustainable Summit (Category: Breaking News)
Whilst acknowledging progress, business tycoon Harry Jayawardena has renewed his call for a more enabling environment to boost private sector investments to a desired level, warning that rest of Asia was fast reaping benefits of such strategy. “The region offers many examples of how enabling environments have thrust their private sectors to the forefront of ...
- Diversified young conglomerate LOLC honoured with six accolades (Category: Business)
- LOLC Group bullish on regenerating north east (Category: Business)
- Govt. keen to support private sector: Cabraal (Category: Business)
The Hindu: The major economic problem of India is that agriculture and allied activities account for only 15 per cent of GDP while 70 per cent of the country’s population lives in rural areas. With a growth of agriculture at a rate significantly lower than that of GDP, the trend is an inexorable reduction of ...
- India confirms drought as El Nino looms (Category: Business)
- Nagaland: Ruza, a traditional water harvesting system for the water-scarce mountains (Category: Breaking News)
- Japan says El Nino emerges, raising fears on food prices (Category: Business)
- Farming the main occupation of two million families (Category: Breaking News)
TOKYO (Reuters): Asian shares and commodities slid while the euro fell to its lowest in almost two years against the dollar on Thursday, as surging borrowing costs in troubled Spain raised fears that it could fail to rescue its banks and may need to seek a bailout. Investors fled from risk assets to U.S. government ...
- Asian shares ease, hurt by Spain bank woes (Category: Business)
- Asia shares fall steeply on worries over Spain banks, growth (Category: Business)
- Asia shares, euro consolidate from lows (Category: Business)
- Shares subdued as Spain auction puts investors on edge (Category: Business)
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011. As a result the trade deficit widened, putting the ...
- ‘Rupee Volatility – In Search of Equilibrium’ (Category: Business)
- Forex crisis: CB explains and assures (Category: Business)
- Economic growth to rebound in 2013: SCB (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
The Royal Bank of Scotland Group’s Head of Rating Advisory Raymond Woo had recently called on Economic Development Minister Basil Rajapaksa. “Sri Lanka was able to control the impact of internal and external crisis successfully due to the efficiency of the political, economic and administrative management of President Mahinda Rajapaksa,” Minister had told Woo. Minister ...
- Minister suggests exporting Sri Lanka`s surplus rice and vegetables (Category: Breaking News)
- Minister suggests exporting Sri Lanka's surplus rice and vegetables (Category: Breaking News)
- Sri Lanka exporting maize is a people's victory - Minister (Category: Breaking News)
- Sri Lankan would face any challenge - minister (Category: Breaking News)
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