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Whilst consolidating a commitment to establish a strong culture of planet friendly attitudes and practices as a responsible corporate entity and as individuals, SriLankan Airlines’ continues its efforts to achieve highest global standards in environmental management and conservation. On World Environment Day (WED), the airline introduces a series of new tactical measures to double the ...
Reuters: Indian export data released on Friday confirmed a sharp slowdown in foreign trade, adding to the woes of Asia’s third-largest economy and piling more pressure on the weak coalition government to take steps to boost economic growth. Indian exports inched up 3.23 percent to $24.5 billion in April from a year earlier after falling ...
Pole-vaulting from prison to World Economic Forum!BANGKOK (Reuters): Nobel laureate Aung San Suu Kyi urged foreign firms on Friday to invest cautiously in fast-changing Myanmar and give priority to creating jobs as much as making profits to help defuse the “time bomb” that is the country’s high unemployment rate. Speaking during her first trip outside ...
Reuters: Kingfisher Airlines’ fourth-quarter net loss more than trebled as huge cuts in the number of flights compounded the woes of a cash-strapped carrier facing high fuel prices and intense competition for low fares. The high-profile airline, which is owned by flamboyant liquor baron Vijay Mallya, lost 11.5 billion rupees in the quarter to end-March, ...
The Associated Motorways Private (AMW) on Wednesday unveiled the 11th generation Nissan Sunny raising the experience for its market segment to a new level. From left: AMW Managing Director Samantha Rajapaksa, President Tilak de Zoysa and General Manager Yohann de Zoysa at the launch of 11th generation Nissan Sunny in Colombo on Wednesday “We are ...
Douglas & Sons Ltd (DSL) showcased yet another amazing grand show of its kind, the ‘GT Awards Night 2012’. for its tyre dealers at Hotel Grand Hyatt, in the fascinating city of Dubai on 19 May, amidst an audience of high profile dignitaries including the Ambassador for Sri Lanka in Dubai, Sarath Wijesinghe, who graced ...
Malaysia Airlines (MAS) on Tuesday took delivery of its first A380, becoming the eighth operator of the world’s largest and most eco-efficient airliner. The aircraft was handed over to MAS Group Chief Executive Officer Ahmad Jauhari Yahya by Airbus Chief Operating Officer Fabrice Brégier in Toulouse. Malaysia Airlines has ordered six A380s. Powered by Rolls-Royce ...
Seven young prominent marketing communications professionals from Sri Lanka’s advertising and marketing industries were selected to represent the country at the annual Young Lions Competitions and the Roger Hatchuel Academy in Cannes, France next month after having successfully completed the Sri Lankan Cannes Young Lions Competition. The local competition to select the contenders was organis...
Reuters: Even if Formula One fans are reveling in the joy of an unprecedented six different winners from six races, some of those closer to the action are beginning to feel uneasy. Before Red Bull’s Australian Mark Webber won from pole position in Monaco on Sunday, retired triple champion Niki Lauda was expressing the view ...
The Perceived Economic Opportunity Index (PEOI) that had been on a downward trend since the beginning of 2012 having lost the momentum generated by the November 2011 Budget, moderated in April with the PEOI registering an increase since March, albeit being very marginal. The current level of optimism however is relatively low and is only ...
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011. As a result the trade deficit widened, putting the ...
BOSTON, (Reuters): Security experts have discovered a new data-stealing virus dubbed Flame they say has lurked inside thousands of computers across the Middle East for as long as five years as part of a sophisticated cyber warfare campaign. It is the most complex piece of malicious software discovered to date, said Kaspersky Lab security senior ...
Reuters: Mercedes promised to provide Michael Schumacher with a more reliable car after the German’s hopes of a return to the Monaco glories of his heyday ended in disappointment on Sunday. The seven times world champion had his sights set on a podium finish for the first time since 2006, after what would have been ...
Sri Lanka Tourism Promotion Bureau MD post is a permanent position and comes under scheme of recruitment approved by Treasury Rumy Jauffer hired on one-year contract sans an application or a CV Not marking attendance, unlimited use of fuel among flags-off in Auditor General’s Department query A host of queries by the Auditor General’s Department ...
Seeing the growing acceptance of Tata’s Nano by car cab companies in Sri Lanka, Nano’s agents here are motivating three-wheeler owners to exchange their ‘tuk tuks’ for the swankier, air conditioned and more capacious Nano. But three-wheeler owners, who are mostly working class Gulf-returnees or lower middle class skilled workers or petty traders, do not ...
Adding to its rapidly developing branch network, Union Bank of Colombo PLC (UBC) opened its newest branch on 23 May, in Chilaw offering a host of financial services delivered through superior customer care to Small and Medium enterprises and retail customers. The new branch counts as the 33rd branch of UBC branch network. Located at ...
Reuters: AirAsia is studying a potential $4 billion deal to buy another 50 Airbus A320 passenger jets, its founder told Reuters last week, extending the budget carrier’s dramatic growth, months after it placed a record order for 200. Asia’s largest low-cost carrier is ready to swoop on the current version of Airbus’s passenger jets, known ...
BRUSSELS (Reuters): Rising tensions with India and China over the European Union’s “arrogant” law on carbon emissions could rob the region of the markets that can rescue it from economic malaise, airline leaders said last week. They also said they had prepared contingency plans for a possible exit of Greece from the euro, as part ...
Bieco Link, one of the largest activated carbon manufacturers in Sri Lanka has gained a new lease of life with fresh business direction and the latest engineering enhancements under the new management of PCH Holdings. Following the successful acquisition of Orient Garments, Bieco Link is the latest milestone in PCH Holdings’ plans for business diversification ...
Reuters: Analysts at Goldman Sachs and Bank of America-Merrill Lynch cut their growth forecasts for India, following up on a Morgan Stanley downgrade earlier this week that had sparked much concern in domestic markets. The downgrades come in a tough month for Indian markets, after global risk aversion surged, exposing the country’s fiscal and economic ...
Reuters: Top European software company SAP AG plans to buy Ariba Inc in a deal valuing the business and commerce network company at $4.3 billion, its latest maneuver against Oracle in the fast-growing Internet-based computing market. SAP is taking aim at Oracle, the world’s number two maker of business management software, as they vie with ...
In mid February, the Ceylon Electricity Board (CEB) informed consumers of their intention to revise their electricity charges from the following month. The March electricity bill issued to the consumer by the meter-reader was based on previous rate. The April bill based on revised rates with the addition of fuel surcharge for March was sure ...
Reuters: The World Bank cut its economic growth forecast for China this year to 8.2 per cent on Wednesday and urged the country to rely on easier fiscal policy that boosts consumption rather than state investment to lift activity. In a biannual East Asia and Pacific economic update, the World Bank said a slowing China ...
Sri Lanka is an island, 65,610 km2 in area, situated close to the southeast extremity of the Indian peninsula. Despite its relatively small size, Sri Lanka possesses a high level of biodiversity. Biological diversity or ‘biodiversity’ is a term used to describe the variety of life on earth. It refers to the wide variety of ecosystems ...
Nestlé Lanka Plc, has recorded a strong revenue growth of 14% (YoY) for the three months ending 31 March 2012, posting a revenue of Rs. 7.3 billion and a net profit of Rs. 462 million amidst a difficult market environment. The Company stated that net profit for Q1 were down 25% (YoY) due to the ...
Bajaj – the number one motorcycle brand in Sri Lanka, continues its leadership ride countrywide by providing timely, cost-effective solutions to all segments of the market, said its sole agents David Pieris Motor Company. Marketed by sole agents David Pieris Motor Company Ltd, the Bajaj 100 cc Motorcycle range has recently been showcased as the ...
SINGAPORE (Reuters): Ceylon Petroleum Co (Ceypetco) has renewed its gasoil term contract with PV Oil Singapore, an affiliate of Vietnam’s PetroVietnam Oil Corporation, industry sources said on Monday. The term contract is for six months starting from April, with the first gasoil cargo expected to be delivered into Colombo in June, they said. The premium ...
APL’s largest and newest vessel is also its most environmentally-friendly and fuel-efficient. The Singapore-based carrier says the 10,700-TEU APL Southampton, which called on the Port of Singapore on her maiden voyage recently, has been fitted with a ballast water treatment system and an electronically-controlled main engine, signalling a new era of sustainable ships entering its ...
Delivering on its value proposition in delivering innovative banking solutions and in keeping with the Bank’s premise for superior customer service, Union Bank of Colombo PLC (UBC) launched Union Factors, yet another value added service to enhance the product offering to the Small and Medium Enterprises, enabling even greater convenience and efficiency to conduct business ...
LetterIn retrospect, I recall the expression Indrani Sugathadasa, the then Chairman of the SEC, used to sum up the circumstance that led to tightening of regulations – ‘ don’t kill the rooster that lays the golden eggs, intending to take all eggs at once’. In a matter of four short months, all doubts as to ...