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To strive in the corporate world the entity must be the best in its game. Progression towards being the better business requires effectiveness in all areas. Improvement, growth, development, advancement, no matter how you choose to define it, the effective entity must always be open to change through a positive mindset: establishing the power of ...
The UNESCAP recently released its publication, ‘The Economic and Social Survey of Asia and the Pacific 2012 – Pursuing Shared Prosperity in an Era of Turbulence and High Commodity Prices,’ and the global launch took place simultaneously in all ESCAP member countries on 10 May. Speaking at the launch in Bangkok, the Executive Secretary of ...
Sri Lanka Cricket says it will stage its own Twenty20 cricket league in August, more than a year after it was postponed due to possible losses due to a pull out of Indian players. The first edition of Sri Lanka Premier League was originally scheduled to be played in July last year. SLC president Upali ...
Noting that the NSB-TFC deal is peanuts, the main Opposition UNP yesterday declared that the bigger problem was questionable investments by the EPF and demanded immediate answers from a 'dodgy' Government. Following is the full text of the statement issued yesterday by UNP MP and its spokesman on economic matters Dr. Harsha De Silva: Article ...
Road accidents cause the most number of annual deaths in Sri Lanka. Each year over 40,887 road accidents occur in Sri Lanka, causing 6 fatalities every day. Several hundreds of people are left seriously injured; some with lifelong consequences. Addressing this tragedy, Caltex together with the Sri Lanka Traffic Police has embarked on an island-wide ...
In a world where most product categories are at the mature stages of the product lifecycle, the key differentiating factor for a brand happens to be the reputation that it has earned in the market place. Be it a fridge that you buy for your home or a packet of milk powder that you get ...
Planned divestiture of subsidiary – the sole private savings bank in the country – not advertised Deal with in-out-and-in Navara Capital under fire as Rs. 562 m strike price falls below Board recommendation Analysts label deal price as “cheap” when CB is unlikely to be generous in issuing new Specialised Bank licences in the future ...
The world’s leading coconut shell-based activated carbon manufacturer and exporter, Haycarb PLC has sustained performance in the fourth quarter of 2011-12, despite challenging external conditions and rising production costs, to end the year on a positive note. According to interim statements filed with the Colombo Stock Exchange, volume increases and continued focus on value added ...
Mr. Thilak Karunarathne Chairman, Securities Exchange Commission,Colombo. Dear Sir, Re: SEC inquiry connected with the stock exchange transaction where the National Savings Bank acquired shares of The Finance Company I wish to hail your expressed commitments to initiate with urgency a comprehensive inquiry connected with the stock exchange transaction where the National Savings Bank acquired ...
Warns that countries need tough policy changes to stimulate waning growth By Cheranka Mendis Asia Pacific faces another year of tough policy changes to stimulate growth, with Sri Lanka in particular having to manage monetary policy, control inflation, provide jobs for youth and reduce high inequality, it was revealed in a report released yesterday. The ...
It is very tragic that Sri Lanka may lose the confidence of the business world both locally and internationally courtesy of the Government-appointed nominees of the State. I like to highlight just two such incidents with no bias. The first was the rundown of foreign reserves. The Central Bank went on saying there is no ...
REC yesterday announced that its industry leading solar modules have been selected by BAM Green, a leader in developing and providing renewable energy related services in Sri Lanka. Under the agreement, REC will supply its industry leading REC Peak Energy Series modules to BAM Green. REC solar modules were ranked first with the highest performance ...
The IMF’s recently released Asia and Pacific Regional Economic Outlook (REO) shows the region continuing to lead global growth and expected to gain momentum over the course of 2012. This forecast, however, remains subject to downside risks related to the global economy, including the possibilities of a sharp fall in exports to advanced economies and ...
VENICE (Reuters): Cruise operator Costa Crociere took delivery of a new flagship liner on Saturday, hoping the glamour of Italy’s biggest ship will mark a new era for a company whose reputation was marred by the deadly Concordia disaster. The 114,500-tonne Costa Fascinosa, built by state-owned shipyard Fincantieri, has space for 3,500 passengers. An even ...
The International Air Transport Association (IATA) last week announced global traffic results for March showing that total passenger demand rose 7.6% and freight demand climbed 0.3% compared to the same month last year. Comparisons with March last year are affected by events that depressed passenger demand in 2011, including the Arab Spring, which disrupted travel ...
n The Scholar who has refused to changeHumanistic approach Dr. Gunadasa Amarasekera, scholar, writer, poet, novelist, social activist and many more, in a special contribution to Professor Buddhadasa Hewavitharana Felicitation Volume Two released last month, has tried to analyse the most recent history of Sri Lanka in the context of the onset of the process ...
) for Transparency International Sri Lanka (TISL) on the topic Rupee Crisis?.
President proposal to be put into action in Nuwara Eliya, Milco to step in for excess purchases but no talk of infrastructure upgrade for factory or distributionBy Uditha Jayasinghe In response to the milk crisis the Government yesterday pledged to purchase all extra milk supplies
Remains the only company to continue uninterrupted purchase of fresh milk Cargills (Ceylon) Plc yesterday along with its subsidiary Kotmale Holdings Plc pledged their continuous support towards its local dairy farmer in the wake of the current crisis prevailing in the dairy industry
The 13th ministerial meeting of UNCTAD concluded last week in Doha, Qatar. This meeting was the first major UN ministerial meeting focused on trade and development since the 2008-2009 economic and financial crisis. At the end of the meeting, the ‘Doha Mandate’ setting
Sri Lanka, which was a low-income country (per capita income below $ 2,000) until a few years ago, has now reached lower-middle-income country status ($ 2,840). Of course, while Sri Lanka can be proud of this achievement, middle-income country status requires it to operate within a new paradigm. In the ’80s and to a lesser ...
By Cheranka Mendis While the rupee has been hitting record lows on a continuous basis for the past few months, the business community and general public have been abuzz, with speculation rife that a rupee crisis is taking place in the country. Gathered to discuss whether or not there is a rupee
Dear Editor, During the past few months, I have observed criticism, mainly by the Opposition Parliamentarians, about the manner in which the Sri Lankan economy has been managed. In my view, their attempts seem to be designed to impose blame on the Governor, Central Bank, perhaps to weaken his resolve and strength and discourage him. ...
MAY Day is for the workers. Therefore it is the best time to take into account the hardships as well as duties that are the birth right, so to speak, of every worker. Sri Lanka is well-known for its pro-employee labour laws, which have been kept largely unchanged, during the last few decades. However, the ...
In recognising International Workers’ Day on 1 May, the Employers Federation of Ceylon (EFC) Director General Ravi Peiris has urged all stakeholders to embrace the change in the world of work. He also emphasised the need for progressive labour legislation if Sri Lanka is to successfully manage the inevitable changes in the world of work. ...
CB asks banks overnight for their forex commitments for Thursday and Friday; steps up bank visits Convenes meeting with treasury heads of banks; rupee crisis figures in monthly CB-bank CEOs meeting as well Dealers say no room for speculation given the very narrow net open positions; new rules apart
With the post war scenario unfolding overseas in a different form, Sri Lanka seems to be at the receiving end of a diplomatic quagmire. Most of the issues that beset the Government on the international front are of its own making. The Geneva resolution could have been avoided if there had been an effective diplomatic ...
Peradeniya Uni's Dr. Perera says exchange volatility is temporary and acceptable IMF's Mathai says no crisis but stability measures taken By Cheranka Mendis UNP MP Dr. Harsha de Silva yesterday made a compelling case that the ‘feel good’ party that the President Mahinda
Sri Lanka’s economic sectors, agriculture, industries and services are performing well and we are today able to provide a robust new investment destination as a frontier country to the rest of the world. In that background, many investors realise that Sri Lanka is well poised to offer a safe and sound investment opportunity to its ...
Having begun to feel the pinch of the West, companies must adopt a tough and lean approach to survive By Cheranka Mendis With big markets such as Europe and Japan and those closer to home like India going through tough economic times, Sri Lanka cannot be insulated for too long before feeling the pinch of ...