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SYDNEY (Reuters): Australia’s Qantas Airways Ltd said on Friday it was raising domestic and international fares for the second time in as many months to partially offset high jet fuel prices. Domestic fares and international fuel surcharge will increase by between A$7 and A$30 ($7.2 to $30.1) a ticket depending on the sector, Qantas said ...
- Qantas launches Jetstar Hong kong (Category: Business)
- Blow for Qantas as talks with Malaysian Airlines end (Category: Business)
- Fares to rise as pilots threaten action (Category: Australia, Queensland)
- Train fares will not be increased - Transport Minister (Category: Breaking News)
IPS: Most things in Sri Lanka are becoming expensive these days. In early February fuel prices were increased by margins ranging from eight to 49 per cent, with the all-important diesel, used widely in commercial transport and power generation, going up by 36 per cent. The Sri Lankan rupee that was trading at 107 rupees ...
- Thai rice plan could hit global market (Category: Business)
- Catching itself young (Category: Business)
- Road signs indicate better times (Category: Business)
- When the rains don’t fall (Category: Business)
Lanka Business Link who owns and manages the popular daily deals site www.lancoupon.lkhas tied up with Vindy Trading (Pvt) Limited, sole agent in Sri Lanka for Luyuan Electric Vehicle Company of China to promote Vindy Trading’s latest offering into the Sri Lankan market, the ALFA Plus 110 Hybrid Scooter. www.lancoupon.lk with its ever growing popularity ...
- Boy, 12, knocked off scooter (Category: Australia, Tasmania )
- Safety warning for scooter kids (Category: South Australia)
- Boy impaled on scooter handlebar (Category: AU, New South Wales)
- Scooter boy hurt in collision (Category: Australia, Tasmania )
Denying accusations that the Ceylon Electricity Board is a burden on the national economy, Minister of Power and Energy Champika Ranawaka points out its contribution towards the country’s development and claims the staggering loss of $ 42 billion predicted for 2012 was mainly due to the fuel price hike and rupee depreciation. Following are excerpts ...
- Electrifying losses (Category: Business)
- CEB GM Eng. Rohan Seneviratne steers electricity sector toward sustainable and renewable future (Category: Breaking News)
- CEB: Making losses or deliberate blunders? (Category: Business)
- Treasury defends fuel revisions (Category: Business)
With the recent relaxing of the rupee exchange rate and subsequent increase in fuel prices, trade unions and the opposition parties are conducting protest campaigns against the Government, demanding a reduction in oil prices and the cost of living. This article investigates the living conditions of citizens in the recent past and present, quality and ...
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
- The Economic Impact of Exchange Controls (Category: Business)
- Living with debts (Category: Business)
- Strategies on reducing or getting out of foreign debt (Category: Business)
The UN Human Rights Council resolution is still making headlines and likely to do so for many weeks to come. There is graffiti screaming “Obama is mad” scrawled on Colombo’s walls and politicians as well as other stakeholders continue to express their displeasure of the US Therefore, holding the largest trade exhibition in nearly two ...
- Trade Trends (Category: Business)
- Trade Trends (Category: Business)
- Trade Trend (Category: Business)
- US’ importance as most positive trade partner for Lanka rises (Category: Business)
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
- Tackling tea travails (Category: Business)
- Planters’ Association Chief says turbulent times for tea (Category: Business)
- Sector report (Category: Business)
- Tea Industry Divided Over Importing Tea For Blending (Category: Breaking News)
NDB‘s contribution to infrastructure development has been substantial during the last three decades. Having garnered the experience and expertise to cater towards the development process in Sri Lanka, NDB continues to focus on this vital component providing the necessary support that will help towards economic development in the country. NDB CEO Russell de Mel says, ...
- DFCC: Changing the sustainable energy landscape in Sri Lanka (Category: Business)
- DEG provides $ 21 m loan to NDB Bank to strengthen SME sector (Category: Business)
- Nestlé Lanka crowned as ‘Best Corporate Citizen’ (Category: Business)
- Sri Lanka’s energy sector at risk: Calls for diversification amidst Chinese investments (Category: Breaking News)
AFTER much bad news, there is a sign of relief on the oil issue. Even though it was feared that Sri Lanka would lose around 90 per cent of its fuel due to US sanctions on Iran that will come into effect from June, the latest news that only 15 per cent will be reduced ...
- Iran sanction won't create oil shortage: Sri Lanka (Category: Breaking News)
- Oil Supply (Category: Business)
- Sri Lanka’s Iran crude imports may drop up to 20% (Category: Business)
- Sri Lankan government sends team to Iran to discuss oil imports (Category: Breaking News)
The International Air Transport Association (IATA) last week announced a downgrade to its industry outlook for 2012 primarily due to rising oil prices. IATA expects airlines to turn a global profit of $3.0 billion in 2012 for a 0.5% margin. This $500 million downgrade from the December forecast is primarily driven by a rise in ...
- Airlines face sting in the tail from cheaper oil (Category: Business)
- IATA cuts airline profit forecast due to oil price (Category: Business)
- Singapore Air Q2 profit halves, yields under pressure (Category: Business)
- Cathay Pacific H1 net profit down 59% (Category: Business)
Titan Fleet Management, France a specialist yacht management company places confidence in Colombo for their repair requirements on super luxury yacht Lauren L. This seven star category 90 meter long yacht called in for repairs on 1 February. The luxury yacht called in for her 10 year class survey repairs coupled with hull surface preparation ...
- Dockyard completes Norwegian BOS Angler’s dry-dock repair (Category: Business)
- Quick job for UK owned container carrier’s Kota Halus repairs at Dockyard (Category: Business)
- MV Brilliant dry docking repairs completed in Colombo (Category: Business)
Sri Lanka, affected by the sanctions imposed by the United States on Iranian oil, has entered into an agreement with Oman to buy oil from that country ahead of the US deadline. Ceylon Petroleum Corporation Chairman Dayananda Vidanagama Arachchi on behalf of Sri Lanka and Oman Oil Corporation Chairman Nasheer Al Jasmi inked the agreement ...
- Sri Lanka: Discussions with Oman on Crude, Gas import (Category: Breaking News)
- Govt. and Oman to sign trade agreement (Category: Business)
- Sri Lanka to directly import oil and gas from Oman (Category: Breaking News)
- Sri Lanka to buy oil from Vietnam and Oman (Category: Breaking News)
Says reserves depletion has been arrested Expects US Dollar exchange rate to settle down to below Rs. 125 Emphasises correction in rupee’s value after 'external shock' is positive all round with considerable savings and boost for local producers Claims future of IMF support is not a major concern but will be a bonus Likens affordable ...
- Message clear: Market must move up (Category: Business)
- Devaluation divide (Category: Business)
- 6.2% budget deficit will be met (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
Suren Rajanathan is Vice President of 3M Sri Lanka, an innovation-based company which boasts a catalog of over 1,000 products sold in Sri Lanka that span 25 different business categories. 3M has an income internationally of $30 billion in sales, employs about 84,000 people worldwide, and has operations in more than 65 countries with products ...
- Leveraging 3M capabilities to build businesses (Category: Business)
- Suresh joins 3M as Head of Marketing (Category: Business)
- 3M rewards individual excellence at Annual Awards Night (Category: Business)
- 3M launches Long Life Coolant (Category: Business)
By Joshua Nicholas Prestige Automobile (Pvt) Ltd. (PA) yesterday announced the arrival of the all new BMW 3 series. The sixth generation of the world’s best-selling premium car will be available in two variants; BMW 320i and BMW 328i. Since its launch in 1975, every third car sold by BMW has been a 3 series. ...
- BMW sales in Lanka rockets by 1,500% to over 700 units (Category: Business)
- Prestige Automobiles unveils BMW ActiveHybrid 5 (Category: Business)
- BMW gets Sachin behind the wheel (Category: Business)
- BMW (Category: Business)
By Cheranka Mendis Dubai’s low cost airline, flydubai yesterday announced the increase of frequencies to Sri Lanka, going from five to seven weekly flights since 11 March following a surge in passenger numbers. flydubai CEO Ghaith Al Ghaith noted that with the changes in flight timing by moving on from four flights a week during ...
- flydubai to operate flights to Mattala (Category: Breaking News)
- Flydubai flights to Sri Lanka (Category: Breaking News)
- Flydubai to come to SL from next month (Category: Breaking News)
- Flydubai eyes new orders as it nears breakeven (Category: Business)
Mackwoods Energy said yesterday it was presently in the process of finalising a feasibility for establishment of a 1 MW grid connected solar power plant located on an existing property of the company. The move is part of Mackwoods Energy’s diversification plans to provide solar and wind power solutions to customers for both grid and ...
- Mackwoods Energy shares debut today (Category: Business)
- Bonus call for solar systems (Category: Australia, Tasmania )
- Mackwoods marks 170 years of empowering Sri Lanka (Category: Business)
- Harnessing desert sun to power Europe (Category: Technology)
REUTERS: In the face of aggression from the United States or Israel, Iran will attack to defend itself, Iran’s most powerful figure, Ayatollah Ali Khamenei said on Tuesday. “We do not have nuclear weapons and we will not build them but in the face of aggression from the enemies, whether from America or the Zionist ...
- Ahmadinejad denounces ‘uncivilised Zionists,’ urges new order (Category: Business)
- SL proved resistance against hegemonic powers is possible: Iran (Category: Breaking News)
- Port: If problematic speech is banned online, at least be consistent (Category: USA, North Dakota)
- Port: If problematic speech is banned online, at least be consistent (Category: USA, North Dakota)
The Janatha Vimukthi Peramuna (JVP) spokesman and parliamentarian Anura Kumara Dissanayaka in an interview with the Daily FT critiques the on-going sessions of the UN Human Rights Council (UNHRC), the state of bad governance, deteriorating law and order and the economic crisis in the country. Following are excerpts from the interview. Q; What are your ...
- Dispelling misinformation and myths regarding the UNHRC resolution and its impact on Sri Lanka (Category: Breaking News)
- Use conciliatory diplomacy to deal with US-sponsored resolution (Category: Breaking News)
- Can Sri Lanka’s government implement the LLRC recommendations? (Category: Breaking News)
- SL attends UNHRC sessions with impressive post-conflict records: Former AG (Category: Business)
The STING Corporate Accountability Index is an independently researched analysis of the standing of corporate Sri Lanka against a model of responsible business practices. It is published in order to encourage more companies to adopt a holistic system of corporate responsibility. The adoption of such a system and making this the usual way of operating, ...
- John Keells Hotels win Gold Award for Corporate Accountability (Category: Business)
- Disposing of electronic waste: A social responsibility calendar must (Category: Business)
- Corporate social responsibility and sustainability practices (Category: Business)
- SAFA-CMA Management Accounting Summit 2012 (Category: Business)
The country’s forex market encompassing highly dependent importers and key source exporters was yesterday rocked by what analysts described as the sharpest day gain in the US dollar exchange rate. Before mid-day the Rupee touched a new low of Rs. 127 and then on to Rs. 128 prompting many to assume the rate had bottomed ...
- Rupee hits new low despite inflows (Category: Business)
- CB gives fresh boost to CSE (Category: Business)
- Markets becalmed (Category: Business)
- Rupee weakens on importer dollar demand (Category: Business)
Parent Company – The Mackwoods Group (ML) Possessing a history of over 170 years, Mackwoods Group the parent company of Mackwoods Energy Limited has a diverse portfolio of businesses consisting power and energy, healthcare, agri business and plantations, industry, Information and Communication Technology (ICT), hotels and leisure, infrastructure development, real estate and financial service...
- Mackwoods Energy launches Rs.350 m IPO (Category: Business)
- Mackwoods Energy shares debut today (Category: Business)
- Mackwoods Energy high on debut (Category: Business)
- Mackwoods debuting on Wednesday but on Diri Savi Board (Category: Business)
Citizens should make a noise The Central Bank’s former Assistant Governor and its long-time Director of Statistics, Dr. Anila Dias Bandaranaike, at a recently held exporters’ forum, expressed the view that the business community should make it their business to discuss, debate and deliver their views on economic policies being formulated by the country’s policy ...
- Flexible exchange rates and impact on exporters (Category: Business)
- Economic management and the way forward (Category: Business)
- A monetary constitution to add on to the legal constitution? (Category: Business)
NOL Group last week reported a US$ 478 million net loss in 2011 following net earnings of US$ 461 million in 2010. The container shipping and logistics company said unsettled economic conditions, high fuel costs and lower freight rates impacted results. “The performance of container shipping is disappointing,” said Group CEO Ng Yat Chung. ...
- NOL posts bigger Q3 net loss, sees full-year loss (Category: Business)
- Neptune Orient Q1 loss widens, outlook bleak (Category: Business)
- APL named world’s top shipping line (Category: Business)
Loss-making State-owned enterprises are nothing new in Sri Lanka. One of the better known ones is SriLankan Airlines, which was given to Emirates due to its inability to breakeven but was retaken by the present Government. Pros and cons of this move is history but cash-strapped and a midst losses, it appears that the Government ...
- Sri Lankan fully national (Category: Business)
- Economy Exercise (Category: Business)
- Social Media (Category: Business)
- New Wings (Category: Business)
The National Trade Union Centre (NTUC) affiliated to Sri Lanka’s Marxist party Janatha Vimukthi Peramuna (JVP) has in writing requested the Public Administration Minister John Seneviratne to make necessary provisions to increase the festival allowance paid to the public sector employees. NTUC Head K.D. Lalkantha has asked Minister Seneviratne to increase the current festival advance ...
- Nallur festival attracts large crowds (Category: Breaking News)
- Trade unions in Sri Lanka ask government to increase festival advance monies (Category: Breaking News)
- Police to beef up security at all Muslim mosques in view of Eid (Category: Breaking News)
- Youth cycle champions (Category: Sports)
Industry calls for higher productivity, new market development to ride out uncertainties Tea industry stakeholders say the industry needs to urgently improve productivity and generate new markets, as volatility in major Middle Eastern markets continue to dampen tea export earnings. While there is strong demand for tea in global markets, price increases for Ceylon ...
- Local tea industry in a fix (Category: Business)
- Tea smallholders raise sustainability concerns (Category: Business)
- Closing on $ 5 b tea exports by 2020 doubtful: Industry (Category: Business)
- MJF rings alarm bell on future of tea industry (Category: Business)
High cost of living and festive seasons go hand in hand and the upcoming New Year looks set to becoming a particularly difficult one. With the Central Bank downgrading the economic forecast from eight per cent to 7.2 per cent and a rapidly depreciating rupee adding to increasing imports, the month of April, when consumerism ...
- Former Mississippi Gov. William F. Winter dies at 97 (Category: USA, Mississippi)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Nebraska)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Maryland)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Maine)
Says that economic growth still among the highest in the world, insists that external events will not affect trade By Uditha Jayasinghe As the rupee hit an all-time low, Economic Development Minister Basil Rajapaksa yesterday strived to bolster confidence in the economy terming the trade deficit the country’s “only problem”. With the rupee at an ...
- UNP draws guns on “military control” of Rupee (Category: Business)
- Trade deficit dips to 16-month low in June (Category: Business)
- Dr. Nicholas advises Lanka against swallowing IMF dope (Category: Breaking News)
- SLEA to release book on ‘Achieving Economic Goals in the midst of Global challenges’ (Category: Business)
NEW DELHI (Reuters): India’s businesses, already facing high interest rates and a global economic slowdown, worry that the finance ministry will ask them to shoulder a bigger tax burden in the budget set for release on Friday to trim the fiscal deficit. After a drubbing in recent state elections, the government has little room to ...
- Obama unveils big spending election-year budget (Category: Business)
- Growth to slow down in 2012 –Central Bank (Category: Breaking News)
- India says fiscal deficit target will be hard to meet (Category: Business)
- IMF welcomes Sri Lanka’s reforms announced in the budget (Category: Breaking News)
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