Sampath Bank with effect from 1 January has got a new Chairman and several new youthful additions to its Board of Directors. The Bank announced on Friday that at a Board of Directors meeting held on 29 December Chairman I.W. Senanayake decided to step down with effect from 31 December. Whilst accepting this decision the ...

An International Research Conference on Transdisciplinary Perspective on Accounting will be held in Sri Lanka on 4 and 5 January at the Central Bank’s Centre for Banking Studies Auditorium at Rajagiriya, Colombo from 9 a.m. to 4:30 p.m. The conference has been jointly organised by the Department of Accounting of the University of Sri Jayawardenapura, ...

DNH Financial showcases impressive GDP data to make a credible case to consider stock market as an attractive medium to long term investment option The high 8.4% economic growth enjoyed by Sri Lanka in the third quarter is considered the fourth best in the world according to an analysis by stock broking firm DNH Financial. ...

Six-day losing streak ends as ASI gains by 1.3% though most investors out with turnover dropping to two-and-a-half-year low The Colombo stock market saw a welcome rebound yesterday, raising hopes for a Merry Christmas over the weekend as hitherto weak-hearted investors appear to have received a boost from impressive economic data. Improved sentiments saw the ...

Central Bank has approved the five new nominees to the Board of Sampath Bank Plc in place of an equal number retiring by next week. The five nominees who are qualified and professionals in their respective fields are former International Finance Corporation (IFC) Sri Lanka and Maldives Resident Representative Sanjiva Senanayake, Orit Apparels Chairman Channa ...

The Monetary Board, at its meeting held on 16 December 2011, has promoted four Staff Class Grade IV officers, A. Kamalasiri, R. Dheerasinghe, S.S. Ratnayake and K.D. Ranasinghe to the post of Assistant Governor with effect from 1 January, 2012. These promotions have been made in line with the succession plan of the Bank to ...

The Reserve Bank of India (RBI) has decided to create a separate category of Non Banking Financial Company – Micro Finance Institution (NBFC-MFI). This implements a recommendation of the Malegam Committee Report on Micro Finance in India, which was appointed subsequent to the MF crisis due to indebted farmer suicides in Andhra Pradesh. The NBFC-MFI ...

Plastic crates: Universally used in agri markets In 2002, the writer had a chance of visiting a few farms in Czech Republic, some 200 kilometres away from its capital, Prague. They were all medium sized farms owned by private individuals producing such products as vegetables, fruits and honey. At the time of the writer’s visit, ...

The Colombo stock market saw a dull day’s trading with turnover recording Rs. 664 million and the All Share Price Index falling 0.52% to close below the psychological support level of 6,000 at 5,965 while the Milanka Price Index lost 0.05% to register 5,228. The top turnover contributor list was dominated by fundamentally sound counters ...

UNP MP Dr. Harsha de Silva blasts PM on import banning statement UNP MP Dr. Harsha de Silva yesterday insisted that the statement by the Prime Minister that wheat flour imports should be banned is an irresponsible statement and must be retracted. “While it may be his choice to consume only rice, or he wishes ...

We are still stuck in the winter of our discontent! By Jude Fernando Groundviews.org: “Nearly all children nowadays were horrible. What was worst of all was that by means of such organisations as the Spies they were systematically turned into ungovernable little savages, and yet this produced in them no tendency whatever to rebel against ...

Ray Wijewardene (1924-2010) was a true Renaissance Man. An alumnus of Cambridge and Harvard Universities and a former Chancellor of Moratuwa University, Ray excelled in many different areas of human endeavor: agriculture, aviation, engineering design, inventions, renewable energy technologies and water sports. A Fellow of the Sri Lanka National Academy of Sciences and the Institution ...

The outstanding learner awards of Cambridge Ordinary and Advanced Level 2011 was held at the Ceylon Continental Hotel in Colombo recently where high achievers of the examination were rewarded. The Chief Guest at the occasion was the Minister of Education Bandula Gunawardena. Here, shows Uditha Devapriya of Lyceum International School, Nugegoda, receives the award from ...

By Peter Day The Ray Wijewardene Charitable Trust that continues the legacy and the vision of the late Sri Lankan innovator is organising the inaugural ‘Ray Wijewardene Memorial Lecture’ to be held on 13 December 2011. The Ray Wijewardene Charitable Trust organises the lecture with the Institution of Engineers of Sri Lanka – of which ...

What do nation states do when their politicians ruin their economies by serial lying to the voters, running up huge domestic and international financial deficits, uncontrolled corruption, cannot keep interest rates at reasonable rates, cannot control inflation nor hold the exchange rate steady and run the country on an unsustainable basis, depending on what has ...

A striking feature of both the Mahinda Chinthana – A Vision for the Future and the Budget 2012 is the open rejection of neoliberal economic models and the portrayal of the government policy as a special model developed indigenously for the country. Mahinda Chinthana rejects neoliberal models apparently on the ground of their high failure ...

There are few things as exciting to children as Christmas – a holiday that brings with it surprises, gifts, goodies, carols and best of all Santa Clause.  Cinnamon Lakeside Colombo embraces the essence of the season in all its glory at its festive edition of Kiddies’ Camp this month.   Kiddies’ Camp was a programme ...

Asian Alliance Insurance PLC was adjudged a winner in the category of ‘Best Social Marketing Campaign 2011’ at the Global Awards for Brand Excellence, in recognition of its contribution towards the community through strategic CSR projects carried out by the company. Asian Alliance AGM Marketing Nadi Dharmasiri (centre) accepting the award from Dr. Alok Bharadwaj, ...

By Cheranka Mendis With mobile penetration directly linked to increasing economic growth in a country, Sri Lanka with its bullish growth prospective stands to benefit heavily from the ever-expanding ICT and telecommunication sector. Alcatel-Lucent Asia Pacific President Rajeev Singh-Molares who was in Sri Lanka for a brief visit yesterday told the media that a World ...

The Central Bank released its latest educational publication titled ‘Analysis of Basic Economics Principles,’ authored by P. Samarasiri, Assistant Governor supervising the financial system stability cluster of the Central Bank. This book has been compiled based on key topics

By Chamitha Kuruppu The JVP yesterday described the Government’s move of not increasing the salaries of over seven million private sector workers as “taking vengeance” on them for going against its private pension bill. The party states that the government’s failure to grant a salary increment for the private sector is clear evidence that they ...

UNP Co-Deputy Leader Karu Jayasuriya The Budget lacks direction and is neither here or there. For the consumer, it is inflationary; nor does it instil investor confidence. It has a political aim but lacks an economic aim. Furthermore, it does not address the productivity of employment; nor does it address the salaries of professionals and ...

Expolanka Holdings PLC recently appointed two top professionals Shantanu Nagpal as Head of Strategic Planning and Business Development and Paddy Weerasekera as Head of Marketing and Corporate Communications. With nearly two decades of experience in asset management and equity research, Shantanu Nagpal joins Expolanka as Head of Strategy and Business Development. He was Managing Director ...

Following is the speech by Dr. Harsha de Silva read out at the Zonta Club International Day Forum on 9 November 2011Good evening. Before I begin let me sincerely apologise to Lilamani for having given false hope that I will be by her side this evening! I am sure the women in the audience are ...

This was written upon following recent events that unfolded in our midst which made one wonder if we adequately managed our natural assets at our national parks and protected areas… many lovers of nature and concerned persons presented varied views in the print and e- media. On the global front we also observe the intensified ...

John Keells Holdings held its fifth consecutive Soft Skills Workshop for graduates at the University of Sri Jayewardenepura By Devin Jayasundera The striking unemployment rate of university graduates has been a persisting issue of the university system which has given rise to many social problems among youth in the last two decades. It is said ...

COLOMBO (Reuters): Sri Lanka’s Supreme Court has ruled that the government’s controversial legislation to acquire so-called underperforming enterprises and under-utilised assets is consistent with the country’s constitution, parliament was told on Tuesday, despite some opposition. The government act, which was presented to parliament on Tuesday, will see the state acquiring 37 pr...

Discussion on the validity of non-military engagements of the military The war or internal armed conflict in the north and east is over; the Emergency is no more; but still the military is everywhere. The military is now engaged in peacetime police-work, whale watching, selling vegetables, agriculture, cleaning, constructions and many other non-military activities. Yet, ...

The Mr. Earth Pageant conducted in Central America – Guatemala city recently brought fame and honour to Sri Lanka in the form of Milinda Wickramasinghe who was crowned Mr. Water – second runner up in the contest. The pageant is an annual event that draws in a participation of many countries around the globe. Despite ...

When a little baby girl arrived into this world on the dawning of Monday 31 October, she received a little more attention than usual. She was one of the early members of the seven billion club, to which the human society has now grown. Demographers at the United Nation’s Population Division had set 31 October ...