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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 ...
- Oil up to $119, supply concerns support (Category: Business)
- Saudi says high oil prices a worry, will take steps (Category: Business)
- Oil falls, awaits US jobs data, storm (Category: Business)
- Oil sinks below $ 100 to 16-month low on economy, demand worries (Category: Business)
As costs of bunker fuel, logistics and M&R continue to rise to record levels and to close the gap between breakeven and market rates, CMA CGM has decided to file a Rate Restoration Initiative (RRI) for reefer containers from the United States to Asia, effective 1 October. The above Rate Restoration Initiative will be applied ...
- Shipping costs to rise yet again (Category: Business)
- CMA CGM announces new revenue restoration program (Category: Business)
- CMA CGM effects revenue restoration program and surcharges (Category: Business)
- GRI from Maersk for Far East Asia to US (Category: Business)
Ever Lambent, the first L-type containership in the Evergreen Line fleet, was christened by Evergreen Group Chairman and founder Dr. Chang Yung-fa at the Samsung Heavy Industries shipyard recently. The ceremonial rope cutting for the new 8,452-TEU vessel was performed by Mrs. Lee Yu-mei. The ceremony was attended by dignitaries from Taiwan and abroad. Ever ...
- Here's how having a decorated Christmas tree during the holidays became a popular tradition (Category: USA, Maine)
- Here's how having a decorated Christmas tree during the holidays became a popular tradition (Category: USA, New Hampshire)
- Here's how having a decorated Christmas tree during the holidays became a popular tradition (Category: USA, Mississippi)
- Here's how having a decorated Christmas tree during the holidays became a popular tradition (Category: USA, Maryland)
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)
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 ...
- Brent oil set to end yr up 14%, record high average (Category: Business)
- Brent slips to $102 on worries about euro zone economy (Category: Business)
- Oil creeps toward top of Asia’s economic worry list (Category: Business)
- Brent slips below $123 (Category: Business)
The Richard Pieris Group ended its first quarter with steady group operating profits compared to the corresponding period of the previous year. The three months ended 30 June 2012 evidenced a reasonable performance in all its major sectors with the reported quarterly turnover surpassing Rs. 8 billion which is yet another noteworthy achievement. During the ...
- Softlogic’s FY2011 pre-tax profit tops Rs. 1 b mark (Category: Business)
- RPC posts strong results for 9 months (Category: Business)
- Union Assurance continues growth momentum in 1H 2012 (Category: Business)
- JKH forges with solid growth (Category: Business)
Reuters: India’s industrial output fell for the third time in four months in June, adding to pressure on new Finance Minister Palaniappan Chidambaram to move quickly and pull Asia’s third-largest economy from its worst slowdown in almost a decade. The manufacturing-led slump provided further ammunition to the slew of private economists who downgraded their growth ...
- India’s industrial output contracts for third time in four months (Category: Business)
- India’s March industrial output falls (Category: Business)
- Asia factory output weak; India defies with rise (Category: Business)
- World growth at risk as US employment stumbles (Category: Business)
Adds 10MW of renewable, sustainable energy to National Grid Nirmalapura Wind Power (Pvt) Ltd. commenced commercial operation yesterday and is expected to add 10 megawatts to the National Grid through its wind turbine generators. The venture is the latest step towards boosting the power requirements of the nation through renewable and sustainable ‘green’ energy. Green ...
- LOLC’s commitment to renewable energy recognised (Category: Business)
- 30 MW wind power joins national grid (Category: Business)
- Contract signed to build Hybrid Renewable Energy Systems on main islands off Jaffna (Category: Breaking News)
The Singer Group’s recently released results showed that it continued its growth momentum with 2012 first half revenue up 23% to Rs. 12.6 billion and net profit by 21% to Rs. 680 million over the corresponding period of last year. The Group’s results in the first half were impressive considering that they were achieved despite ...
- Singer Sri Lanka revenue grows by over Rs. 1 b in first quarter (Category: Breaking News)
- Sri Lankan market impressive -Goodman (Category: Breaking News)
- Singer partners Artmatrix (Category: Business)
- Queensland banks on gas surge (Category: Australia, Queensland)
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 ...
- Economic growth to rebound in 2013: SCB (Category: Business)
- Economic Outlook: A tough year ahead but measures in right direction (Category: Business)
- OPIC funding to provide opportunities for growth (Category: Business)
- 2012 Budget in focus (Category: Business)
Main opposition United National Party (UNP) says that the substandard fuel imports to the country has resulted in the Ceylon Petroleum Corporation (CPC) incurring losses amounting to Rs. 100 million. UNP General Secretary Tissa Attanayake told a news conference yesterday that Petroleum Minister should take the responsibility for the importing of substandard fuel from a ...
- CPC Asked To Probe Allegations (Category: Breaking News)
- VIDEO: From diesel to exams, everything govt does is inferior - Tissa (Category: Breaking News)
- Fuel supplier denies supplying substandard fuel to Sri Lanka, not paying any claims (Category: Breaking News)
- Sri Lanka petroleum authority to compensate 3,000 vehicle owners for damages caused by substanda... (Category: Breaking News)
THE Auditor General is to be called in to investigate oil purchases made by the Ceylon Petroleum Corporation (CPC) from 1 August 2011 to 31 July 2012 in a move to sooth disgruntled nerves over the recent substandard fuel fiasco. While the step is a positive one, it is questionable whether this is enough to ...
- No petrol shipments for Ceylon Petroleum Corporation until July 22 – Sagala Ratnayake (Category: Breaking News)
- Missing the woods for the trees (Category: Business)
- New headquarters for Petroleum Corporation, more fuel stations in North (Category: Business)
- Vitol fumes over continuity in alleged discrimination by CPC (Category: Business)
Some countries make progress outside U.N. process Progress is slow towards new climate deal Shift needed from targets, penalties to standards CO2 emissions continue to grow LONDON/OSLO: Green economic growth rather than strict targets for cutting greenhouse gases needs higher priority if the world is to reach a deal to fight climate change by a ...
- Nations warn of broken promises at UN climate talks (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
- Shipowners join WWF, Oxfam in urging climate levy (Category: Business)
- No region immune to Europe crisis: World Bank Chief (Category: Business)
Reuters: Indian Finance Minister P. Chidambaram sought on Monday to allay investor worries about an economy growing at its weakest pace in almost a decade by pledging to address their concerns over taxes, public finances and interest rates. In his first comments since becoming finance minister on July 31, Chidambaram said it was important to ...
- Indian Finance Minister urges officials not to hound taxpayers (Category: Business)
- Surprise industrial slump adds to India’s economic woes (Category: Business)
- India’s growth will be weaker than expected (Category: Business)
- May revise India growth forecast for 2011-12 to 6.5%: Moody’s (Category: Business)
With US$ 500 m capital infusion national carrier ready for stronger take off By Cheranka Mendis Sri Lanka’s national carrier SriLankan Airlines and budget carrier Mihin Lanka are growing despite challenges and are no longer loss-making entities, SriLankan Airlines Chairman Nishantha Wickremasinghe said. Hosting a group of journalists around the SriLankan base in Katunayake, Wickremasinghe .....
- SriLankan Airlines’ IAA completes first TAASL member agent training program (Category: Business)
- SriLankan goes daily to Beijing, Shanghai from mid-July (Category: Business)
- SriLankan lauded for role in tourism promotion (Category: Business)
- House of SriLankan Airlines chairman robbed (Category: Breaking News)
RAM Ratings has called for right policy measures to diversify the country’s energy sources as well as increase private sector participation in the sector. This and several other key recommendations along with salient developments are highlighted in RAM’s energy sector update titled ‘Sri Lanka Power Sector – Firing the Rain’. The report said, drawing parallels ...
- Sri Lanka targets slashing industrial power use by 10% (Category: Business)
- CEMS Global to hold eighth ‘Power Sri Lanka’ international exhibition (Category: Business)
- In the Chinese-built coal power plant of Norchcholai, there are more questions than answers. (Category: Breaking News)
- A nuclear power plant for Sri Lanka (Category: Breaking News)
Finlay Tea Estates Lanka (Pvt) Ltd., which manages Hapugastenne Plantations PLC, was awarded the prestigious National Plantation Award 2012 for Forestry Management, Environmental Friendliness and Self-Sufficiency in Energy’ of the Regional Plantation Company sector by President Mahinda Rajapaksa recently at a ceremony held at the Temple Trees. The Shawlands Estate Tea Factory in Lunugala was...
- Planters Association of Ceylon hails winners at National Plantation Awards (Category: Business)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
Reuters: State-owned Ceylon Petroleum Corporation (CPC) on Saturday took Vitol, the world’s largest oil trading firm, off its supplier list, believing diesel supplied by the firm had damaged vehicles. Vitol rejected the allegation and said the cargo in question was tested in accordance with international standards by CPC inspectors before it was discharged. Petroleum Minister ...
- Vitol Group refutes allegations on inferior diesel fiasco (Category: Business)
- Vitol fumes over continuity in alleged discrimination by CPC (Category: Business)
- Vitol denies charges of contaminated diesel (Category: Breaking News)
- CPC seeks 310,000 barrels gasoil, gasoline (Category: Business)
Trade unions of railway, port and transport sectors in Sri Lanka have slammed the authorities for the sale of substandard fuel in the country. General Secretary of the All Ceylon Railway Employees’ Common Services Union, Sumathipala Manawadu said that about 36 train engines have been affected and the oil filters of these trains have been ...
- Sri Lanka trade unions lash at authorities for selling substandard fuel (Category: Breaking News)
- UNP holds Petroleum Minister responsible for substandard diesel fiasco (Category: Business)
- Deadline for Substandard Fuel Compensations (Category: Breaking News)
- UNP raises doubts over Petroleum Minister’s failure to implement recommendations (Category: Business)
Can one imagine how long it took a ship to arrive from London to Colombo five centuries back? Now it takes only a couple days to courier a special package to any part of the world and a full file of any amount of documents could be sent to any part of the world in ...
- Hub is no hoodoo, says TEA (Category: Business)
- EDB turns 33 (Category: Business)
- Public diplomacy: A missing dimension in our foreign policy (Category: Business)
- Insights on Public Diplomacy (Category: Business)
Heavy challenges faced by currency depreciation and increase in fuel, energy and other costs Nestlé Lanka PLC, Sri Lanka’s leading nutrition, health and wellness company has recorded a good revenue growth of 13.5% (YoY) for the six months ending 30 June 2012, posting a revenue of Rs. 14.5 billion against the background of a difficult ...
- Sri Lanka-Iran bilateral relations enhanced (Category: Breaking News)
- Business Today TOP TWENTY (Category: Breaking News)
- Sri Lanka to issue long-term residence visa for foreign investors (Category: Breaking News)
- Lanka IOC limits pumping fuel for light vehicles (Category: Breaking News)
The 2012 Suzuki Swift Sport first appeared at the Australian Motor Show in concept form back in July 2011. Fast forward 12 months and the hatch fans can now buy the production version in Colombo. The road going version of the Swift Sport has changed little since the concept appeared. While it looks a little ...
- First ever Suzuki Swift Sport purchased in Sri Lanka leaves showroom (Category: Business)
- Suzuki Maruti sets new record on sales of 10 m units in India (Category: Business)
- Most improved Suzuki With 150 new features arrives in Sri Lanka (Category: Business)
- Suzuki Motor Corp. Representative Director and……… (Category: Business)
Central Bank said on Tuesday inflation, as measured by the Colombo Consumers’ Price Index (CCPI) (2006/07=100) computed by the Department of Census and Statistics, increased to 6.0% in July 2012, on an annual average basis, from 5.8% in the previous month. The year-on-year (YoY) inflation rose to 9.8% in July 2012 from 9.3% in June ...
- Inflation decelerates in August says Central Bank (Category: Business)
- CB says YoY inflation rose in June due to rise in food prices, lower base (Category: Business)
- May inflation: Annual average down, up year-on-year (Category: Business)
- CB says inflation down in January (Category: Business)
Indian Oil Corporation (IOC) will set up a refinery in Sri Lanka with an investment up to US$ 3.6 billion, a report in Business Standard said. IOC, which already has a venture in Sri Lanka through its subsidiary Lanka IOC, operates 10 refineries in India and the one in Sri Lanka will be its first ...
- IOC to set up a refinery in Sri Lanka (Category: Breaking News)
- Sri Lanka Says No To IOC (Category: Breaking News)
- Lanka IOC may help wean Sri Lanka off Iran crude (Category: Business)
- Chinese $1.5 bln loan to prop up ailing Lankan economy (Category: Breaking News)
Weak rupee, price hikes, drought driving inflation-analysts CB expects easing in inflation on Govt. price cuts Reuters: Sri Lanka’s annual inflation rate may have accelerated to a 42-month high in July as a drought pushed up local food prices and a weaker rupee aggravated import bills. Annual inflation is expected to have accelerated to 9.4%in ...
- Inflation slips on food prices (Category: Business)
- SriLanka inflation increase further more (Category: Breaking News)
- CB says policy rates appropriate (Category: Business)
- Inflation eases as food prices moderate (Category: Business)
Diesel & Motor Engineering PLC (DIMO) together with TATA Motors India recently introduced the latest range of TATA Small Commercial Vehicles (SCV) to Sri Lankan market. The SCV range comprises of the DIMO Batti (promoted in India as Tata Ace Zip), TATA Super ACE (earlier known as DIMO Lokka ) and DIMO 207 DI BULLET. ...
- President kicks off construction of domestic airport at Batti (Category: Business)
- New Range Of TATA Small Commercial Vehicles From DIMO (Category: Business)
- Airtel creates first millionaire in Batti. (Category: Business)
- Video: The mysterious death of cattle in Batti (Category: Video)
Emirates’ five daily flights to London Heathrow will all be served by A380s by 1st February next year, firmly establishing the airline as the principal double decker operator into the British capital. Combined with the daily Manchester A380 service, this will mean the world’s largest A380 carrier will be sending 42 A380 flights to the ...
- Emirates’ Rome A380 service underway (Category: Business)
- Emirates inaugurates A380 service to Amsterdam (Category: Business)
- Emirates’ Munich A380 service to arrive early (Category: Business)
- Emirates’ A380 joins Hamburg Airport centenary celebrations (Category: Business)
UNP MP Dr. Harsha De Silva yesterday called upon the Government to take urgent steps to reverse the decline in apparel exports. He said that the Central Bank had announced that apparel exports fell every month this year in spite of the depreciation of the currency in February. Monthly exports amounting to US$ 367 million ...
- October sees 20% decline in apparel exports from Sri Lanka (Category: Breaking News)
- Trade Performance (Category: Business)
- Trade Trends (Category: Business)
- Wall Street Journal spotlight on Brandix’s global push via regional foray (Category: Business)
by Sarath De Alwis The crisis is not in our system of higher education. The crisis is in not knowing what higher education is. Arrogance of presumed superior knowledge of the policy makers and dogmatism of the teachers has precipitated a debate that reflects a pedantry of crisis proportions. We do not seem to have ...
- Friday Forum on crisis in the education sector (Category: Business)
- Say no to NEPF! Say no to abolishing free education! (Category: Breaking News)
- Free education and parents’ aspirations (Category: Business)
- "I dont like to use the term 'student supppression' simply because there is no such thing" (Category: Breaking News)
LONDON (Reuters): Britain’s economy shrank far more than expected in the second quarter, battered by everything from an extra public holiday to government spending cuts and the neighbouring euro zone crisis. Finance minister George Osborne said figures released on Wednesday showed Britain had “deep-rooted economic problems,” adding that the slump in the second quarter was ...
- Indonesia’s tourism sector to focus on emerging markets (Category: Business)
- Growth is better than expected – CB (Category: Business)
- Growth gloom (Category: Business)
- Global 2012 rubber output forecast revised up: ANRPC (Category: Business)
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