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Reuters: Riskier assets fell broadly on Monday, dragging down Asian shares, copper and oil but the dollar strengthened as investors shifted their focus to weak economic fundamentals while monitoring progress in the euro zone debt bailout scheme. The MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7%, with a 1.5% drop in its materials ...
AMSTERDAM(Reuters): The Dutch economy showed muted export-driven growth in the second quarter, according to official gross domestic product figures released on Monday, but separate data on business confidence reflected an underlying uneasiness. Exports were the driver of 0.2% year-on-year growth
Quality recognition for Panasonic ceiling fans distributed island wide by Softlogic A product of internationally recognised consumer electronics brand Panasonic has been awarded the Sri Lanka Standard (SLS) 814 certification, one of Sri Lanka’s most exclusive quality recognitions. Awarded by the Sri Lanka Standards Institute, the SLS certification recognises design excellence and functional ...
Reuters: Apple Inc fans queued around city blocks worldwide on Friday to get their hands on the new iPhone 5, pointing to a strong holiday season for the consumer device maker despite grumblings about the mapping app in the new smartphone. The iPhone 5 – thinner, lighter and with a 4-inch screen – went on ...
LONDON (Reuters): Britain’s budget deficit widened to the biggest on record for any August, data showed on Friday, a day after the central bank chief said missing its debt goal was acceptable for the government. Public sector net borrowing excluding financial sector interventions rose to 14.410 billion pounds from 14.365 billion in August 2011 as ...
A reader of the previous week’s My View titled ‘SL’s future: Convert the simple economy into a high-tech based complex economy’ has taken up an important issue with this writer via email. He has said that it is unlikely that Sri Lanka could have a complex production
NEW DELHI/MUMBAI (Reuters): India slashed a tax on overseas borrowings by local companies on Friday, giving them access to cheaper funds and cheering investors as the Government pressed on with reforms to revive economic growth. Under the new rules, which were proposed in the federal budget for 2012/13 in March but not implemented so far, ...
In clear signs that Sri Lanka’s trade with India is set to grow further and recent noise about Sri Lanka in Tamil Nadu has almost no impact on the surging Business-to-Business (B2B) linkages, a 45-member strong biz delegation led by S. Rethinavelu, Senior President of the Tamil Nadu Chamber of Commerce and Industries (TCCI) is ...
Khaleej Times: Sri Lankan efforts to increase its export of skilled workers to the UAE were the topic of discussion in a gathering of diplomatic officials at an overseas employment promotion seminar held on 13 September. At the event, officials addressed local recruiters and employers on the procedures and benefits associated with hiring workers from ...
By Shanuka Tissera The Serendib Educational Foundation (SEF) provides financial support to talented students who have excelled in their secondary education and have the ability and skills to reach greater heights as they pursue higher studies. The 20th anniversary celebration took place at Cinamon Lakeside where the SEF proudly launched their latest website for both ...
Shyam Nuwan Ganewatta presents the first copy of his latest book ‘Ape Arthikaye Heta Dawasa’ to Secretary to Ministries of Finance and Economic Development Dr. P.B Jayasundara at the Ministry of Finance . This is the fourth book of Shyam’s series on the economy.
The first ever national bamboo industry processing initiative launched 19 September, leverages UNIDO’s resources to the max while positioning for a promising 800,000 new jobs by 2019. “The national bamboo initiative launched today with about $ 24 million investment, in its first stage aims at strengthening the bamboo supply chain. The project aims to increase ...
The Ministry of Economic Development together with other relevant ministries and institutions has initiated a program to revive the textile industry of Sri Lanka along with the apparel industry. Earlier Sri Lanka had well developed textile industry consisting handlooms. Powerlooms, fabric and cotton industries. But all these sectors were closed down after Sri Lanka introduced ...
Reuters: Manufacturing in China contracted for the 11th month in a row in September, according to a private sector survey of factory managers that indicated the world’s second largest economy remains on track for a seventh quarter of slowing growth. The HSBC Flash China manufacturing
In tough economic conditions, cutting jobs in a business may appear to be the simplest solution to reducing expenses. However, layoffs present many disadvantages for employer, employee and customer. Globally, be it financial services, healthcare, media, technology or retail, all of them have thrown hundreds upon hundreds out of the workforce in the last 36 ...
Reuters: Schools, shops and government offices were shut in some states on Thursday as protesters blocked road and rail traffic as part of a one-day nationwide strike against sweeping economic reforms announced by the government last week. The main opposition Bharatiya Janata Party (BJP), joined by smaller parties from both the political left and right, ...
Reuters: Asian shares extended losses on Thursday after data indicated little respite for Chinese manufacturers, suggesting growth in the world’s second-largest economy slowed further in the third quarter. The MSCI’s broadest index of Asia-Pacific shares outside Japan extended losses
Kelvinator, a world renowned brand of refrigerators, recently partnered with Softlogic to exclusively distribute and retail its newest range of refrigerator models. Softlogic being an established leading player in the retail consumer electronics market carrying authorised distributorships for world famous brand such as Panasonic, Samsung, Candy, Russel Hobbs, Midea, Dell, Nokia, Ignis and Xerox am...
Business sentiment at Asia’s top companies declined for a second consecutive quarter in 2012 due to continued worries over the global economy, according to the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey. The poll was conducted between 3 and 14 September 2012 and of the 97
“Genuine software, ultimately, is about optimisation rather than legalisation. Especially now that Sri Lanka is moving quickly, the economy will pick up even faster through partnerships with China, India and other developing countries. It’s the perfect time for companies
SINGAPORE: Business sentiment among Asia’s top companies fell for the second straight quarter, dragged down by export-orientated economies such as China and Japan, while domestic spending helped boost Southeast Asia’s outlook, a Thomson Reuters/INSEAD survey showed. Concerns over global demand are hurting Asia’s export engines, with autos, technology and shipping sectors am...
LONDON (Reuters): Shares rose on Wednesday and the yen fell to a one-month low after the Bank of Japan eased monetary policy, the latest central bank to offer stimulus to help the global economy find a firmer footing. The BOJ said it would increase its asset buying and loan programme, currently
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
The Asian Development Bank (ADB) is concentrating on developing nine sectors including infrastructure in Sri Lanka and the far eastern region including Vietnam, Cambodia and Laos to foster economic development. “Asian Development Bank has assisted sub regional economic cooperation in the Greater Mekong Sub region (GMS) to enhance their economic relations, covering nine priority ...
‘Echelon,’ a new business magazine, covering the islands most dynamic companies, their leaders, the economy and lifestyle in unparalleled depth, is now widely available at bookstores and supermarkets. Echelon’s publisher Capital Media, has brought
Elephant House was recognised as one of Sri Lanka’s top 10 business entities at the 2012 CNCI Achiever Awards held at the Cinnamon Grand in Colombo recently. The CNCI (Ceylon National Chamber of Industries) have been hosting these awards for 11 consecutive years, recognising and awarding key Sri Lankan business for their contribution to the ...
Dialog Enterprise, the corporate solutions arm of Dialog Axiata PLC, has partnered with Sri Lanka’s largest listed bank, Commercial Bank of Ceylon PLC, to provide integrated enterprise communication solutions, which would ensure uninterrupted and highly secure connectivity leading to smooth banking services for Commercial Bank customers. The new data centre hosted at the Dialog Axiata ...
The exchange of goods and services has been around for as long as civilisations themselves, if not longer. Humans, being extremely adaptive to their environments, have always found ways to utilise resources and build surplus. This surplus was then used to trade in order to obtain resources and goods that weren’t abundantly available. Evolution of ...
The festival of creativity – Spikes Asia 2012 in Singapore during its first two days showcased key insights on winning and creative ideas in the marketing communications sphere by a host of global and regional experts. Attended by nearly 1,800 creative industry professionals and students from 27 countries including nearly 20 from Sri Lanka, the ...