By Cheranka Mendis The much anticipated HSBC Colombo Fashion Week is now all set to open three days of glamour and fashion related business to the local community starting 24 February. With fashion weeks around the world being identified as the most glamorous business meetings, HSBC CFW will aim at promoting and encouraging local ...

Reuters: China will continue to invest in euro zone government debt, the country’s central bank governor said on Wednesday, while calling on Europeans to produce more attractive investment products for China. Zhou Xiaochuan admitted that China and other emerging nations like Brazil, Russia

The Daily FT spoke to the Immediate Past President of Sri Lanka Association of Inbound Tour Operators (SLAITO) and Chairman and Managing Director of Conniassance de Ceylan Ltd., on the state of post-war Sri Lanka tourism industry, the progress and key challenges as well as future prospects and how best they could be harnessed. Here ...

TradeArabia News Service: The 1,608-room JW Marriott Marquis Dubai, when it opens its doors in the fourth quarter of the year, will be the tallest dedicated hotel building in the world at a height of 355 metres. The hotel, which is just 26 metres shorter than the Empire State Building in New York, will open ...

CMA CGM has announced a major revenue restoration program starting from March 1. “In 2011, the unprecedented decrease of Freight rates coupled with the sharp increase of bunkers and with the deterioration of operational conditions in Asia has severely impacted the results of all carriers operating on the Asia to Europe Trade,’ the global carrier ...

LONDON (Reuters): Sanctions on Iran are already hitting global oil flows even though a European ban on imports from the Islamic Republic does not come into effect until July, the International Energy Agency (IEA) says. The IEA said the sanctions, designed to curb Iran’s nuclear programme that Washington and its allies say aims to produce ...

Born at Moscow in 1961, Valeriy Belenikin is a graduate of the Moscow Academy of Fine Arts named after V.I Surikov. The artist’s conception of his work is based upon truth and the mystery of this life. He is in awe of all that takes place in this world. Not only human banality, but all ...

Colombo Music Festival gathers momentum; to be held on 23, 24, 25, and 26 August 2012As Senses and Soul, Colombo Music Festival 2012 to be held from 23 to 26 August gathers momentum behind the scenes, this festival, the first ever of its kind to be held in the region, promises to deliver a superlative ...

Following are some responses from three economists to the guest column by Chandra Jayaratne titled ‘Important issues’ for Sri Lankan legislators, the Executive, policymakers, Central Bankers, economists and thought leaders to ponder over published on 2 February 1) I disagree with the Stiglitz-Krugman line. My diagnosis is that Europe is in this mess for two ...

Hong Kong continues its role as the largest event on the HSBC Sevens World Series, hosting 24 teams compared with the 16 hosted by other events. Now, the Cathay Pacific / HSBC Hong Kong Sevens 2012, will also play an instrumental qualification role for teams to reach core team status on the 2012/13 Series.  This ...

NEW YORK (Reuters): The U.S. Energy Information Administration on Tuesday boosted its forecast for global oil demand growth for the first time since October and forecast the market would tighten as gains in non-OPEC production lag. The U.S. government agency hiked estimates for 2012 oil demand growth from last month’s report by 50,000 barrels per ...

oneworld member elect Malaysia Airlines’ full global schedule involving around 60 destinations worldwide will be included in the Global Explorer from tomorrow, adding one of the most attractive networks in South East Asia to the round-the-world fare offered by all members of the alliance and selected other airlines. Through this coverage, almost 20 more cities ...

Colombo International Tea Convention discusses trade and marketing of the beverage By Cheranka Mendis Nestled in the dynamic Asian region with a hot beverage to its name, Sri Lanka could benefit well from becoming a ‘tea hub’ in the future, Commonwealth Secretariat Economic Affairs Division Former Director Indrajit Coomaraswamy said. Addressing the Colombo International Tea ...

The Visible Hand of the government ‘The Visible Hand’ was the title which the famed London-based economics weekly, The Economist, used when it published a special report in its issue on 21 January 2012 on the rise of state capitalism in the modern era. The title has a pun: The governments do not care to ...

Some important issues for Sri Lankan legislators, the Executive, policymakers, Central Bankers, economists and thought leaders to ponder over: Stiglitz believes that the austerity plans in the EU nations, especially by the debt ridden poorer nations of the group is akin to a collective suicide pact and is an act madness promoted and enforced by ...

Etihad Airways is offering complimentary 96-hour tourist visas to guests transiting through the UAE, effective immediately. The visas, ideal for travellers making stopover visits en route to their final destination, are being offered in cooperation with Radisson Blu hotel on Yas Island. The offer is valid for travellers previously eligible for Etihad Airways’ paid-for visa ...

Following is the keynote address delivered by Senior Minister of Human Resources D.E.W. Gunasekera at the South Asian Regional Consultative Seminar on Human Development and Measurement of Human Development Progress, held at the IPS Auditorium from 30-31 January 2012 Public understanding of human development was galvanised by the appearance of the first Human Development Report ...

 Indonesia, Thailand, ‘high up on list’; Vietnam looks cheap  Bottom-up manager favours oil and coal stocks, consumer firms  Says can buy indirectly in Myanmar-related companies BANGKOK (Reuters): Emerging market stocks in Southeast Asia, notably in Indonesia, Thailand and Vietnam, will be good bets this year, Franklin Templeton’s Mark Mobius said, adding that whil...

At a press briefing held adjunct to the inauguration, Sri Lanka Tea Board Promotions Director Hasitha De Alwis noted that Sri Lanka as a high quality producer does not prioritise on volume. “If you look at value, Sri Lanka despite exporting 300 million kilos and becoming a main exporter has earned much more foreign exchange ...

MINSK (Reuters): Belarus President Alexander Lukashenko congratulated Victoria Azarenka for winning the Australian Open women’s title on Saturday and awarded her the Order of the Motherland. “Vika – you are the pride of the whole nation!” Lukashenko said in a statement, released by the government press service. “The Motherland is captivated by your great achievement, ...

Reuters: Kremlin clan in-fighting spilled into the open this week when government officials sympathetic with Russia’s fragmented opposition warned the country’s ultimate leader Vladimir Putin he may soon lose power if he doesn’t undertake sweeping reforms. Putin, Russia’

The inauguration of the 20th Session of the United Nation’s Food and Agriculture Organization’s (FAO) Inter-Governmental Group on Tea hosted by Sri Lanka was held last night in Colombo. The sessions proper will begin today and go on until 1 February with the participation of delegates from over 25 countries.   Hosted by Sri Lanka ...

ZURICH: Consumers in emerging markets currently buy a broad mix of local and foreign products, but rising affluence will ultimately benefit overseas brands, Credit Suisse has argued. The investment bank and ACNielsen surveyed 4,000 adults in eight fast-growth nations, finding that a majority of consumers there still buy unbranded products. In all, 62% have purchased ...

MELBOURNE (Reuters): Russia’s Maria Sharapova booked her spot in the last four of the Australian Open on Wednesday with a surprisingly straightforward 6-2 6-3 win over compatriot Ekaterina Makarova. Makarova had stunned five-times champion Serena Williams in the fourth round

MUMBAI (Reuters): Tea prices in India, the world’s second biggest producer, fell at an auction held last week on a seasonal decline in the quality of leaf on offer, though demand was good from local buyers, dealers and industry officials said on Tuesday. The average price of CTC (crush-tear-curl) tea stood at 116.16 rupees per ...

To focus on skills development, trade, investment, sustainable development and business excellence to sustain GDP growth rate of 8%Following is the address delivered by National Chamber of Commerce of Sri Lanka President Asoka Hettigoda at the NCCSL’s 53rd Annual General Meeting Ayubowan, good evening. Let me extend a warm welcome to all of you to ...

The Sri Lanka Tea Board, the apex authority of the tea industry in Sri Lanka, will be hosting the United Nation’s Food and Agriculture Organization’s (FAO) 20th Session of the Inter-Governmental Group (IGG) on tea from 30 January to 1 February 2012 in Colombo. At the 19th session held in May 2010 in New Delhi, Sri ...

Sri Lanka businesses and their leaders are optimistic of prospects for 2012 whilst they are also confident the country will progress in the New Year according to key findings of a CEOs survey done by MTI Market Research. “Despite concerns about the global economic outlook, Sri Lankan businesses seem confident that the local economy and ...

(Reuters): General Motors Co regained its title as the world’s top-selling automaker from Japanese rival Toyota Motor Corp in 2011, but the U.S. company faces a challenge to stay on top this year as Toyota rebuilds its disaster-struck business. GM, bouncing back from bankruptcy less than three years ago, said last week it sold 9.026 ...

By Aruni Amarasinghe The newly-appointed Sri Lankan Envoy to Sweden Oshadhi Alahapperuma presented his Credentials to the King of Sweden Carl XVI Gustaf recently at the Royal Palace in Stockholm. Representing the Sweden Government, the Marshal of the Diplomatic Corps called at the Sri Lankan Embassy which is located in the heart of Stockholm and ...