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Placed amidst of wave of opportunity, today Sri Lanka is poised for exponential growth and sustainable economic development. In this context of emerging national prosperity, exports irrefutably play a pivotal role in driving the much anticipated economic progress. Exports are the main foreign exchange earners for the country and present many prospects for growth and ...
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 ...
Reuters: India’s latest Olympic hero is hoping that a Bollywood movie on her life isn’t just about the sweat, tears and grime. Mary Kom, five-time women’s boxing world champion, won a bronze medal at the London Games, and her exploits will now be captured on the big screen. “I hope they show some romance in ...
Part of the Kandurata Warriors team, Kithruwan Vithanage is a young and upcoming player in Sri Lanka’s domestic cricket league. Here are excerpts of an interview with the young star: Kithuruwan Vithanage Q: How do you feel about being chosen to participate in the Mahindra Sri Lanka Premier League? A: It’s an honour to ...
Robinson Crusoe is very much alive! He has been living alone in Australia’s Restoration Island for 20 years. Well, not quite alone. He has some company, a dog and a mannequin. The Aussie Government handed a third of the island to businessman David Glasheen who promised to build a fishing resort. But fate had other ...
Retailers-driven ‘small caps’ dominated the Colombo Bourse yesterday, whilst most blue chips and conservative investors were less active as the capital market prepared to adjust under a new regime at the SEC. Perhaps finding it difficult to comprehend whether the new appointments to the Securities and Exchange Commission (SEC) were good or bad, stock market ...
Dr. Nalaka Godahewa yesterday assumed duties as the new Chairman of the Securities and Exchange Commission (SEC). After a meeting with President and Finance Minister Mahinda Rajapaksa, Godahewa visited the SEC premises around 3:30 p.m., had a discussion with the Directors and thereafter spoke to the Secretariat staff. Prior to assuming duties, Godahewa attended a ...
President Mahinda Rajapaksa left for Tehran yesterday to attend the 16th Summit of Heads of State or Governments of the Non-Aligned Movement (NAM). The President is scheduled to address the Non-Aligned Movement Summit on 30 August and hold several bilateral meetings with leaders of various countries on the sideline of the summit during the course ...
Sri Lankan Architect practicing in USA is in Sri Lanka to replicate his success in Panama here “Architecture is an art; a pragmatic art. It is a science, a sensuous science,” says Archt. Dr. Raj Barr-Kumar. Here in Sri Lanka to initiate three projects incorporating sustainability, latest technology and modern design, Barr joined the ...
UNP MP Dr. Harsha de Silva yesterday issued the following statement on the new appointments to the Securities and Exchange Commission (SEC): Is the Government’s message to go ahead and engage in fraud at the CSE without worrying about getting caught? If the Minister of Finance was genuinely concerned in re-establishing a fair and equitable ...
Dr. Saroshi Dubash, a Director of the Abans Group of companies, was unanimously elected as the new Chairperson of Women’s Chamber of Industry and Commerce (WCIC) at the Annual General Meeting held recently. She succeeds Vidyani Hettigoda who raised the WCIC to great heights during her tenure and was also the recipient of the honourable ...
Access Engineering Plc Chairman Sumal Perera has described the financial year ended on 31 March 2012 as a “watershed” for the Company. The Company a post-war listed entity, saw its revenue for FY12 enjoy a 100% and 98% growth over the previous year at Group and Company level to mark Rs. 7.3 billion and Rs. ...
Fitch Ratings Lanka has assigned Singer (Sri Lanka) PLC’s (Singer) proposed three-year senior unsecured redeemable debentures of up to Rs. 1 billion a National Long-Term rating of ‘A(lka)’. The Outlook is Stable. The rating reflects Singer’s market position as one of Sri Lanka’s largest consumer durables retailers, as well as its established franchise and extensive .....
The British High Commissioner to Sri Lanka and Maldives John Rankin hosted a pre-departure briefing for the Chevening scholars for 2012/2013 at his residence on Tuesday, 28 August 2012. The Chevening Scholarship Scheme, funded by the Foreign and Commonwealth Office, is the UK’s most prestigious scholarship scheme for foreign post-graduate students. It aims to enable ...
The launching of the A.W. Institution of Training and Etiquette was held recently at the Galadari Hotel. The event was held on a grand scale, with a press conference followed by a cocktail with the presence of Deputy General Manager Mangala Randeniya of the Sri Lankan Foreign Employment Bureau, Anusha Withanage, Managing Director of A.W Institution of Training ...
The annual flagship event of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), the Annual Report Awards 2012 will be powered by leading credit rating agency, RAM Ratings Lanka (LTD). Held for the 48th consecutive year, the awards competition is a benchmark event which promotes transparency, corporate governance and accountability among organisations ...
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...
PUC Commission to make Final Decision on Tariffs on the 14th Of September By Devin Jayasundera The Public Utilities Commission (PUC) had its annual Public Consultation regarding the Non-Conventional Renewable Energy Tariffs for 2012/2013 amidst the presence of its major stakeholders yesterday. According to PUC Director General Damitha Kumarasinghe this progressive step was taken ...
The European Union yesterday announced it would provide Sri Lanka a grant amounting to approximately Rs. 9 billion (EUR 60) million under the European Union support to the District Development program spanning over 2012-2017. The latest support was disclosed by Head of the Delegation of the EU in Sri Lanka Bernard Savage when he met ...
Commissioners given freedom to decide future course with regard to DG post Dr. Jayasundera says top professionals picked to give leadership to a sound capital market growth Priyantha and Sujeewa served as Commissioners under Indrani Sugathadasa as well Opposition and certain market segments decry choice of men given their conflicting roles By Nisthar Cassim Likely ...
Achievements so far The authorities have achieved significant success in reducing the budget deficit from 9.8% of GDP in 2009 to 6.8% in 2011. The bold measures introduced in February/March 2012 to increase fuel and electricity prices, passing on higher global costs, have gone a long way towards reducing the off-balance sheet losses of 2% ...
JASTECA panel urges Government to invite more foreign investment into the country By Cassandra Mascarenhas Furthering corporate ties between Japan and Sri Lanka, the Japan Sri Lanka Technical and Cultural Association (JASTECA) hosted a seminar on Japanese style of management earlier this week featuring a panel of renowned Japanese businessmen who shared their knowledge and ...
Twenty-three year old Kasun Gunawardhana of Ibbagamuwa has emerged as the prize winner of the Institute of Chartered Accountants of Sri Lanka’s (CA Sri Lanka) Strategic Level I exam for Strategic Management Accounting held in June this year. Gunawardhana, who was ranked the island’s first in the commerce stream in the 2008 GCE Advanced Level ...
Sri Lankan stocks yesterday rose 1.2 percent to their highest close since June 20, which dealers said stemmed largely from foreign buying of heavyweight John Keells Holdings.
By Marianne David and Cheranka Mendis Sri Lanka Tourism yesterday told the Daily FT that the Department of Wildlife would set up a meeting with both the Tissamaharama Jeep Association and the officials of the three tented mobile safari operators in order to arrive at “an amicable settlement,” following the recent assaults on the operators ...
Perhaps in anticipation of better times ahead, retailers with improved sentiments returned to the CSE in large numbers yesterday, as the Bourse saw its value rise by Rs. 23 billion with over 10,000 trades done as opposed to July-month’s daily average of 4,000 plus. Most brokers and analysts said retailers made a strong comeback yesterday ...
Sri Lanka’s Divineguma backyard economic unit program has received a boost from an unexpected direction. Seychelles, which has the highest Human Development Index in Africa, wants to implement Divineguma model at its earliest, to kick-start its agricultural revival. “I want you to send a consultative Divineguma delegation team to Seychelles. I want to introduce the ...
A historic battle took place in the Kande Uda Rata Rajadhaniya, in the course of one of the many invasions by the Western colonial powers who once occupied what was known as the Maritime Provinces of Lanka, at the site of the ford at Wagolla village, a crossing point of the Mahaweli river on one ...
James Alix Michel President of Seychelles accompanied by Minister of Foreign Affairs Jean Paul Adam, Minister of Fisheries andamp; Aquatic Resources Development Dr. Rajitha Senaratne and a host of other dignitaries both from the Seychelles and Sri Lankan Ministry of External Affairs visited Colombo Dockyard on 21 August 2012.
It is widely speculated that Sri Lanka Tourism Development Authority (SLTDA) Chief Dr. Nalaka Godahewa will be appointed as the Securities and Exchange Commission’s (SEC) new Chairman, following the contentious resignation of Tilak Karunaratne.