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The unprecedented drought over the past few months due to the long delay of the south-west monsoon affected the entire country, resulting in withered paddy-fields to farmers; chicken farmers forced to slaughter animals due to water scarcity, soaring vegetable prices for housewives, and power cuts for everyone. The effects of the drought, the victims and ...
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 ...
The Meteorology Department says the re-activation of the south-west monsoon has not brought sufficient rainfall to the hydropower catchment areas. The Department says the situation is not likely to change in the next few weeks. Amongst the hydropower catchment areas, Norton had received the highest rainfall last week with only 3.5 mm while Lakshapana and ...
General outlook Global container freight volumes have continued to contract year over year. Container volumes shipped worldwide in June totalled 9,940,800 TEUs, a decline of 5.5% compared to May and 1.75% year over year. The world’s largest exporting region Asia, totalled 3,314,700 TEUs in June, which is less 5% from May and 1.5% year over ...
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 ...
Sri Lanka’s construction sector is likely to experience a cement shortage in the near future, with certain cement importers and dealers trying to hoard cement in the wake of a possible price hike, Mirror Business learns.
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 ...
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 ...
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 of conflicts in most ...
The Petroleum Industries Ministry has assured that there would not be a fuel shortage in the country as speculated by some elements. He gave this assurance in response to reports that there would be a fuel shortage following the wastage of a large quantity of fuel over the substandard fuel issue. The Ministry said the ...
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 ...
The Sri Lanka Institute of Marketing (SLIM) together with the Bucks University featured the 2012 award winners from Singapore of global business associations and chief marketing officers under the theme ‘Is The Party Over?’ at Galadari Hotel, where a select audience of 200 business and marketers attended the event. Some of the key points discussed ...
By Uditha Jayasinghe An estimated 20,000 microfinance institutions in the country will be regulated under new legislation approved by the Cabinet of Ministers. On a proposal made by President Mahinda Rajapaksa, who is also the Finance Minister, all microfinance institutions will be brought under the direct supervision of the of the Central Bank, Cabinet spokesman ...
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...
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 ...
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 ...
By Shanuka Tissera A year to date, since the last annual general meeting of The Planters’ Association of Ceylon, there have been some turbulent changes in the tea, rubber and coconut industries due to the crisis in the Middle-East and EU. The 158th AGM of The Planters’ Association of Ceylon took place on 17 August ...
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 ...
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 ...
Management research is a part of the wider array of research. Whilst positive initiatives are being taken, current situation with respect to research in Sri Lanka is far from a satisfactory level. Today’s column will focus on management research in identifying seven myths associated. At a time where there is a growing awareness on management, ...
The Ceylon Tobacco Company (CTC) stood as a colossus in the Sri Lankan economy for many decades at a time when the private sector in Sri Lanka did not have much to boast about. Silently, CTC pushed on and today boasts a history of 85 years. As the company reached 80 years, it was felt ...
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 ...
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 ...
There is a perception among some of our employers that there is a lack of skilled talent to fill positions at management levels. Often CEOs at public forums say they have difficulty filling positions in their companies. Some of the complaints about skill shortages simply could be that employers can’t get top candidates to join ...
Tea is our pride, for which we can be proud of for the reason that it is the best tea on the globe. It is the duty of every Sri Lankan, especially the diplomatic missions worldwide, to defend and promote our silver inherited as much as the beauty of Sri Lanka which is matchless. Sri ...
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 parts-per-million (ppm) sulphur to be delivered into Colombo ...
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 ...
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 ...
Central Bank Governor says rupee’s trends will depend on flows Bank will intervene if needed to curb volatility Bank sees 125/dollar as equilibrium level, but not a target July annual inflation to ease from 41-month high Reuters: Sri Lanka will maintain a flexible exchange rate, allowing flows to determine trends, though the Central Bank will ...
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 ...