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Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison to record 8.3% growth achieved ...
- SCB checkmates cameo CB! (Category: Business)
- Value investors enter as speculators exit (Category: Business)
- Growth to slow down in 2012 –Central Bank (Category: Breaking News)
Asia Wealth Management is urging retail investors to ‘pull up their socks,’ suggesting a more confident approach to equities investment. Here are excerpts from Asia Wealth’s weekly review: The market has healed so fast within a very short period lowering the year-to-date loss to -2.7%, despite reaching highs of negative 20%. There are many explanations ...
- Bull run at Bourse but value investments still persist: Asia Wealth (Category: Business)
- Colombo stock market sets new records in remarkable rebound (Category: Business)
- Sri Lanka shares up on foreign buying; rupee flat (Category: Breaking News)
Reuters: A plan to buy 100 Airbus aircraft will be submitted to the board of Asia’s largest budget carrier, AirAsia Bhd, in about two weeks, the airline’s CEO, Tony Fernandes, said on Friday, in a deal that could be worth $9 billion. He also said he had no immediate plans to enter the Indian market ...
- Low Fares (Category: Business)
- Malaysia’s AirAsia X to stop flying to Europe, India (Category: Business)
- Tony Fernandes takes over Premier League club (Category: Business)
- MAS, AirAsia and AirAsia X enter into comprehensive collaboration framework (Category: Business)
First in a new class and first of 10 newbuilds; Ship sets standards in environmental protection and efficiency Hapag-Lloyd recently held a naming ceremony for the Hamburg Express, the first of 10 new vessels in its new 13,200 TEU class. Cornelia Behrendt, wife of Michael Behrendt, Chairman of the Executive Board of Hapag-Lloyd, performed the ...
- Capacity Concerns Trigger More Rate Fears For Shipping Lines (Category: Breaking News)
- Hapag launches new weekly Viet Nam America Express service (Category: Business)
- Maritime market update (Category: Business)
NEW DELHI (Reuters): India allowed foreign airlines to buy stakes of up to 49 per cent in local carriers in a long-awaited policy move, providing a potential lifeline to the country’s debt-laden airlines by opening up a fresh source of funding. Friday’s decision, coming on the back of a controversial diesel price hike on Thursday, ...
- Etihad said to eye stake in India’s Jet Airways (Category: Business)
- Emirates reaches limits of organic growth strategy (Category: Business)
- Kingfisher Airlines Q4 loss more than trebles (Category: Business)
- Kingfisher in talks to rescue carrier – Mallya (Category: Business)
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo may be overblown three years after the end of the ...
- Army inquiry a delaying tactic: Human Rights Watch (Category: Business)
- President calls on diplomats to counter threats from pro-LTTE Diaspora (Category: Business)
- NGOs Call on U.S. to Establish International Accountability Mechanism on Sri Lanka at UN Human R... (Category: Breaking News)
- Rejected asylum seekers abused in Sri Lanka, says rights group (Category: Breaking News)
Despite a reversal in the rate of exports decline and evidence of some improvement, Sri Lanka is actively moving to help its exporters to face the global downturn, with a challenging new $ 12 b export goal set for 2102. “Since you, the distinguished exporters, who account for nearly 80 per cent of Sri Lanka’s ...
- US $ 12 b export target (Category: Breaking News)
- Third Exporters’ Forum forges ahead (Category: Business)
- Hayleys’ fibre sector companies bag triple at NCE Export Awards (Category: Business)
- Sri Lanka asks exporters to push product quality (Category: Business)
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
- Village as a developmental unit (Category: Business)
- Paddy farmers’ problems (Category: Business)
- Budget 2012’s impact on the export sector (Category: Business)
- Sri Lanka’s stake in the intl. agriculture debate (Category: Business)
On Friday (7) afternoon, the eve of provincial council elections in three provinces, a certain gathering took place at 101, Rosmead Place, which houses the corporate offices of Democratic National Alliance (DNA) National List Parliamentarian, Tiran Alles. Consultations that lasted for hours, took place between Alles and UNP Deputy Leader Sajith Premadasa and a few ...
- Towards impunity and democratic erosion (Category: Business)
- Monsoons and elections (Category: Business)
- Election fever grips as political parties begin campaigning (Category: Business)
- Outside conspiracies will not be allowed – Mahinda (Category: Business)
SINGAPORE (Reuters): Tyre makers snapped up rubber for nearby shipment before prices rise again on expectations of more stimulus measures from the U.S. Federal Reserve, dealers said, although there are some concerns about rising inventories in main consumer China. Tyre grades from Thailand, Indonesia and Malaysia for October/November delivery were sold overnight at between $2.63 ...
- China buys SMR20 rubber at lowest prices since late 2009 (Category: Business)
- Globle rubber industry hopes China demand will offset Europe woes (Category: Business)
- Thai 2012 rubber output seen up 5% (Category: Business)
- India rubber seen up on global cues, supply drop (Category: Business)
Reuters: Saudi Arabia is concerned about high oil prices and will take steps to moderate them, its oil minister said, in a statement that some in the oil market read as a signal to consumer nations that there is no need to release emergency oil reserves. “Saudi Arabia is concerned about rising oil prices in ...
- OPEC crude output surges to 31.4m bpd in March (Category: Business)
- BPD investigate misconduct related to COVID-19 vaccine deployment (Category: USA, Maryland)
- BPD investigate misconduct related to COVID-19 vaccine deployment (Category: USA, Maryland)
- BPD investigate misconduct related to COVID-19 vaccine deployment (Category: USA, Maryland)
WASHINGTON (Reuters): Obama administration officials told energy experts this week they worry a release of crude from U.S. emergency reserves would do little to temper global oil prices partly driven by tighter supplies of refined fuel like gasoline. At an informal consultation on Thursday, mid-level officials from the National Security Council, the Department of Energy ...
- Global oil supply tightens in last two months (Category: Business)
- Saudi says high oil prices a worry, will take steps (Category: Business)
- Oil firmer on weak dollar, supply worries (Category: Business)
- China to raise fuel prices first time 10 months (Category: Business)
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 ...
- Maritime Market Updates (Category: Business)
- Maersk sees 3% drop in Asia-Europe volumes (Category: Business)
- Transpacific container lines eye peak-season surcharge (Category: Business)
- Sri Lanka needs more base cargo to face future competition (Category: Business)
Professional Met Consu-ltancy Services (Pvt.) Ltd. has been awarded Sri Lanka National best Energy Services Company award for the second consecutive year 2012 at the Sri Lanka National Energy Efficiency award ceremony held on 19 August at Colombo Hilton Hotel. Professional Met Consultancy Services Chairman and Managing Director M.A. Justin receives the award from Environment ...
- Professional Met Consultancy Services wins SL National Best Energy Services Company Award 2012 (Category: Breaking News)
- ISB excels at National Energy Efficiency Awards 2012 (Category: Business)
- 99X Technology wins Gold at 20th NCE Export Awards (Category: Business)
- Etisalat sales personnel shine at NASCO 2012 (Category: Business)
Reuters: China’s top state newspaper warned the visiting US Secretary of State Hillary Clinton on Wednesday not to seek advantage from tensions in the South China Sea, ahead of talks likely to focus territorial disputes and other sources of discord. Beijing and Washington have both stressed hopes for steady ties, especially as they confront domestic ...
- Resource Conflict (Category: Business)
- Philippines’ Marcos says he remains firm in defending sovereignty (Category: Breaking News)
- Obama’s Asia “pivot” advances, but obstacles await (Category: Business)
- China top military paper warns of armed confrontation over seas (Category: Business)
The SAFA-CMA Management Accounting Summit 2012 held in June this year revolved around the theme ‘Corporate Social Responsibility and Sustainability Practices,’ of which the highlight was the final session of the two-day summit, the CEO and CFO Forum. The panel featured Dialog PLC Group CEO and Managing Director Dr. Hans Wijayasuriya, John Keells Holdings Finance ...
- SAFA-CMA Management Accounting Summit 2012 (Category: Business)
- Aitken Spence Hotels observe Earth Hour 2012 (Category: Business)
- Leading corporates commit to embedding ‘Global Compact and Sustainability’ (Category: Business)
One of India’s largest business forces, the Mahindra group announced last week its plans to increase market share in Sri Lanka. The $ 15.4 billion Mahindra Group already has a presence in the automobiles and tractors industry, but is now planning to enter into two-wheeler, aerospace and vehicle finance. The title sponsors of the Sri ...
- Rural Competition (Category: Business)
- Indian Interest (Category: Business)
- Sri Lanka to get investments from India`s Mahindra vehicle group (Category: Breaking News)
- M&M plans to pip Tata Motors in Sri Lanka (Category: Breaking News)
The Planters’ Association of Ceylon, the representative body of the island’s corporate plantation sector lauded the Regional Plantation Companies (RPC’s) which secured awards at the first ever National Plantation Awards held at Temple Trees recently. The ceremony saw a total of 86 outstanding performers including smallholders, manufacturers, exporters and RPCs receive awards from...
- Kelani Valley and Talawakelle win four National Plantation Awards (Category: Business)
- Pussellawa Plantation wins awards for rubber replanting and productivity (Category: Business)
- Plantation company among Sri Lanka’s top 10 (Category: Business)
- Elpitiya Plantations recognised for hydro power generation (Category: Business)
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% ...
- Does Wage Growth Retard Economic Growth? (Category: Breaking News)
- Pathfinder Foundation welcomes recent fiscal and monetary measures (Category: Business)
- Financial Roadmap for 2012 unveiled (Category: Breaking News)
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 ...
- Ceasefire on safari savagery (Category: Business)
- Safari savagery (Category: Business)
- One size fits all (Category: Business)
- Going wild! (Category: Business)
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 ...
- ‘Boom’ is back? (Category: Business)
- Milanka Index turns positive after 17 months (Category: Business)
- Stock market rebound gathers momentum (Category: Business)
- Politicos , Brokers ; Bourse’s Tailwind (Category: Breaking News)
Bringing latest technology to your nearest fuel station, LAUGFS Petroleum Limited, a subsidiary of LAUGFS Holdings Limited, together with Dialog Axiata PLC., recently introduced the country’s first ever Near Field Communication(NFC) fuel card enabling corporates to bring down their transport costs by replacing traditional fuel books used by the...
- Dialog Axiata opens Enterprise Discovery Centre in Colombo (Category: Business)
- ‘Ease of mind’ for parents from Mobitel’s iCard (Category: Business)
- LAUGFS Supermarkets launch loyalty card (Category: Business)
- LAUGFS Eco Sri gets ISO 9001 (Category: Business)
Reuters: Asian shares rose to a two-week high on Thursday after Federal Reserve minutes raised hopes for fresh monetary stimulus, but a survey suggesting that China’s manufacturing sector is contracting capped the gains. Ahead of the euro zone’s flash PMI and a German-French meeting over Greece, financial spreadbetters called London’s FTSE 100 .FTSE, Paris’s CAC-40 ...
- Asian shares fall on unclear US policy stimulus, Europe (Category: Business)
- Copper hits 4-mth high on US, China stimulus hopes (Category: Business)
- Asian shares edge higher, investors seek stimulus clues (Category: Business)
- Fed ramps up economic stimulus, ready to do more (Category: Business)
Reuters: Iran unveiled upgrades to six weapons on Tuesday, including a more accurate short-range missile and a more powerful naval engine, Iranian media reported, in what seemed to be its latest response to international pressure over its nuclear programme. The hardware was presented at a ceremony marking Defence Industry Day and attended by President Mahmoud ...
- Iran says fires long-range missile in Gulf drill (Category: Business)
- Ahmadinejad unveils upgraded short-range missile (Category: Breaking News)
- US moves new forces to Gulf to ward off Iran: report (Category: Business)
- Obama vows to pursue further nuclear cuts with Russia (Category: Business)
K Line, the pioneer in maritime transportation of cars, has further strengthened its confidence in the Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) in Hambantota with the maiden call of their RO/RO carrier MV Agean Highway on 13 August 2012. This vessel previously deployed on Australian – Europe – USA sector has now been engaged on ...
- RO-RO carrier MV ‘Favourite Ace’ marks maiden call at MRMRP (Category: Business)
- K-Line Car Carrier Makes MaidenCall At Hambantota (Category: Breaking News)
Ethiopian Airlines received Africa’s first Boeing 787 Dreamliner yesterday, making Ethiopia the only country aside from Japan to operate the innovative aircraft. “As a continent this shows how much we are making progress as Africans… competing on the global stage and changing our image,” Ethiopian Airlines chief executive Tewolde Gebremariam said at Addis Ababa’...
- Boeing 787 Dreamliner to begin tour of Asia, Africa and ME in Dec. (Category: Business)
- Ethiopian Air to get Africa's first Boeing 787 (Category: USA, Washington)
- Hundreds of Ethiopian Jews receive warm welcome in Israel (Category: USA, New York)
- Hundreds of Ethiopian Jews receive warm welcome in Israel (Category: USA, New York)
Brand Finance’s Annual Global Nation Brand Analysis Prologue Over the past three years, nation branding has received an enormous amount of coverage in Sri Lankan newspapers. Whilst some of these are based on the need to provide a marketing approach to building a nation, and its brand; many of the articles focus on developing a ...
- Brand Finance launches Nation Brands 100 (Category: Business)
- Brand ‘Sri Lanka’ valued $ 23 b; ranks 76th globally (Category: Business)
- Branding Sri Lanka (Category: Business)
The Colombo Bourse yesterday produced a mini-rally with its value rising by Rs. 23 billion led by resurgence in blue chips and foreigners continuing to be net buyers. The benchmark ASI gained by 1.27% and the blue chip MPI sharply by 3% whilst the S&P SL20 was up 1.45%. Despite speculated withdrawal of foreign investors ...
- BAT asks for five board seats in BLUE (Category: Business)
- Distilleries toasts FY12 start with 1Q net profit up 50% to Rs. 1.2 b (Category: Business)
- Dhammika ups control in Hayleys to 47% (Category: Business)
- ERI parent Lionhart, PC House in win-win deal (Category: Business)
Diesel and Motor Engineering PLC (DIMO) recently introduced the first Komatsu PC130-8 excavator to the local market. The first excavator was delivered to Rodrigo Electricals – Wattala Director Randeer Rodrigo by DIMO General Manager – Construction and Mining Machinery Chaminda Ranawana at the DIMO construction machinery service complex at Siyambalape. Speaking at the handing over ...
- Top principals of Dimo Construction Machinery Division meet customers (Category: Business)
- Minister Wimal calls upon the youths to be self employed (Category: Breaking News)
- DIMO expands presence in Anuradhapura with newer spacious location (Category: Business)
- DIMO expands its presence, opens new branch in Trincomalee (Category: Business)
India’s largest airline group, Jet Airways (9W) has returned to the black in the first quarter with a net income of INR52.7 billion ($948.5 million), up 31.4% from the year-ago period. The group comprises Jet Airways and Jetlite, and operates a combined fleet strength of 121 aircraft. Net profits after tax grew to INR247 million ...
- Ore. father accused of trying to give away the kids (Category: USA, Washington)
- Jana Aragalaya now ‘Frontline Socialist Party’ (Category: Breaking News)
- Bayliss feels for Marsh as Dilshan quits (Category: Business)
- Heshan comes second in heats but fails to qualify for next round (Category: Business)
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