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High Commissioner of India in Sri Lanka Ashok K. Kantha recently launched Sri Lanka’s first-ever Corporate Fuel Card and XtraPremium Euro 3 at. Felix Perera, Lanka IOC’s flagship retail outlet in Colombo 7. This new Corporate Fuel Card has been launched by Lanka IOC in a tie-up with Dialog and will be issued to corporate ...
- LIOC makes request for price hike (Category: Breaking News)
- Lanka IOC limits pumping fuel for light vehicles (Category: Breaking News)
- Lanka IOC to introduce Euro III petrol in Sri Lanka (Category: Breaking News)
- STF bust large scale fuel pilfering racket (Category: Breaking News)
CIMB Group Holdings Berhad (CIMB Group) and John Keells Stock Brokers (Pvt) Ltd. (JKSB) yesterday announced a strategic collaboration to promote and facilitate trading on the Colombo Stock Exchange (CSE) and provide co-branded research for CIMB’s clientele. JKSB, a founder member of the CSE and a subsidiary of John Keells Holdings PLC, the largest listed ...
- Sri Lanka to bag yet another ASEAN MoU (Category: Business)
- SGX and Bursa Malaysia connect on ASEAN Exchanges (Category: Business)
- AirAsia establishes regional base in Jakarta, AirAsia Asean (Category: Business)
- Troubled EU eyes ASEAN boost (Category: Business)
Reuters: The International Monetary Fund (IMF) on Monday forecast Sri Lanka’s economic growth would cool to less than 7.5% due to its tighter monetary policy and currency depreciation measures, aimed at cutting the trade and current account deficits. The global lender has withheld the last $800 million left in a $2.6 billion loan program since ...
- IMF cuts Sri Lanka’s growth forecast but says future stable (Category: Business)
- IMF wants flexible policies maintained (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- CB may take act on high credit growth (Category: Business)
At the beginning of March, Dr. Ing. h.c. F. Porsche AG, Stuttgart, will be presenting one world premiere and two European premieres at the Geneva Motor Show. The new generation of the Boxster will make its debut in front of an international public at the Porsche press conference on 6 March at 09:30 a.m. (MEZ) ...
- All-new Porsche 911 revealed (Category: Business)
- Lindsay Lohan hits my with Porsche (Category: USA, California)
- VW aims to wrap up Porsche purchase on 1 August (Category: Business)
- Porsche 911 declared ‘2012 World Performance Car’ (Category: Business)
Scanning through the papers recently after the Central Bank of Sri Lanka published its 2011 external sector performance report, I was reminded of a pithy observation made by William W. Watt: “Do not put your faith in what statistics say until you have carefully considered what they do not say.” Some of the data were ...
- HSBC boosts RMB trade settlement service to 59 markets (Category: Business)
- HSBC tips Sri Lanka’s external trade to grow exponentially (Category: Business)
- HSBC clinches award for best Sri Lanka deal (Category: Business)
- All set for new chapter in exports as Expo 2012 opens today at Bmich (Category: Business)
Passenger traffic continues by 5.7% to rise in January; cargo remains in doldrums with 8% dipThe International Air Transport Association (IATA) last week announced global traffic results for January showing a 5.7% rise in passenger demand but an 8.0% decline in air freight compared to the same month in 2011. The occurrence of Chinese New ...
- 2011 ends on positive note for global aviation (Category: Business)
- Global aviation’s growth slows again in July: IATA (Category: Business)
- Global aviation demand growth slows, says IATA (Category: Business)
- Global aviation demand growth compromised by high oil prices – IATA (Category: Business)
Tyranny of the international capital markets Dr. Indrajit Coomaraswamy, ex-Central Banker and International Civil Servant, did not mince words when he addressed the country’s exporters last week. The veteran economist, having made an assessment of the risks associated with Sri Lanka’s external sector crisis, warned that the country will have to grapple with “the tyranny ...
- High costs of poor performance or high returns of sound management (Category: Business)
- Appreciating exchange rates: Not a boon always (Category: Business)
- Flexible exchange rates and impact on exporters (Category: Business)
- No more IMF loan for Sri Lanka (Category: Breaking News)
Reuters: The head of the United Nations body that oversees civil aviation said on Friday that his agency still plans to have a proposal on measures to address emissions from aviation by the end of 2012, even as critics push for faster change. “I read the press like anyone. I listen to all of the ...
- Sustainable aviation requires Government cooperation – IATA (Category: Business)
- Airlines say carbon law cutting EU off from growth (Category: Business)
- 2011 a good year for aviation safety (Category: Business)
- ICAO publishes manual on Volcanic Ash (Category: Business)
The Treasury has defended the Government’s recent decision to increase fuel prices ranging from 30% to 50%, linking it to spikes in global prices, rising losses for CPC and the need to safeguard subsidies to the people. In a statement posted on the Treasury’s website, the Finance Ministry has responded to various allegations as well ...
- Bangladesh raises fuel prices to cut subsidy (Category: Business)
- Flammable economy? (Category: Business)
- GOVERNMENT DEPLORES UNP ATTEMPTS TO EXPLOIT THE OIL CRISIS FOR POLITICAL GAINS (Category: Breaking News)
Ford this week announced the winning project under their Environmental Conservation and Grants program in Sri Lanka. The ‘Fire Prevention in Knuckles Forest Reserve’ project was selected as the winner after heavy jury examination and will receive up to $ 10,000 from Ford Motor Company to implement their proposal. Ford Motor Company’s Conservation and Environmental ...
- How to develop an effective marketing plan (Category: Business)
- Organisational sustainability (Category: Business)
- Central Bank’s key suggestions (Category: Business)
The Central Bank last night said the revision of Sri Lanka Foreign Currency Rating Outlook from ‘Positive’ to ‘Stable’ and lowering of the country’s long-term local currency rating from BB- to B+ by Standard & Poor’s was unwarranted. In a statement, the Central Bank said the Sri Lankan economy is estimated to have grown by ...
- S&P revises Sri Lanka FC rating outlook to stable from positive (Category: Business)
- Fitch Affirms Standard Chartered Sri Lanka Branch at ‘AAA(lka)’ (Category: Business)
- S&P’s revision of Foreign Currency Rating Outlook is unwarranted – Sri Lanka (Category: Breaking News)
- Fitch labels Lanka a ‘highest-risk financial system’ (Category: Business)
By Cheranka Mendis Asian economies must face the rising issues of energy by getting their act together and moving forward even though the countries in the region seem to be facing discrimination from the West in the area of using nuclear power as an alternative source to non-replaceable oil sources. Independent Power Producers Association of ...
- SL the only country with excess energy in the region (Category: Business)
- No Pakistan-funded nuclear power plant in Sampur: Champika (Category: Breaking News)
- South Asia least integrated in world: WB (Category: Business)
- Lanka issues statement on Indian nuclear plant (Category: Breaking News)
Managed to divert from crisis to stability through policy changes By Cheranka Mendis Sri Lanka, teetering on the brink of a crisis, just managed to save itself through the recent policy measures taken by the Government such as the exchange rate changes, said the Commonwealth Secretariat Economic Affairs Division’s former Director Dr. Indrajit Coomaraswamy yesterday. ...
- Flexible exchange rates and impact on exporters (Category: Business)
- Local tea industry in a fix (Category: Business)
- Sri Lanka may need to consider easing monetary policy: PB (Category: Business)
- Borrowed surplus looming, warns Harsha (Category: Business)
Clouded prospects in developed markets cast a shadow over outlook for trade and economyBy Jonathan Story Two key forces that have driven Asia’s transformation for decades can be counted on to continue apace in the coming year: economic development and China’s rise. Nonetheless, individual Asian countries will struggle to balance domestic and international responsibilities in ...
- Divergent trends as Sept. passenger traffic rises freight declines — IATA (Category: Business)
- Islamic markets seen leading global trade volumes (Category: Business)
- Bouyant StanChart eyes 10th record year, new hires (Category: Business)
- Asia, not North America, now has most millionaires (Category: Business)
By Cheranka Mendis Gathered to discuss the implications, opportunities and challenges of the sudden announcement and introduction of the Government’s new policies, the export community was advised by a panel of experts to watch ahead, be prepared and make their own judgments from the information provided. With the country facing no immediate risks of getting ...
- Quotable Quotes! (Category: Business)
- More Price Increases In The Offing Economist Warns (Category: Breaking News)
- Way out to fix the sick external sector: Getting back to IMF’s fold a must now (Category: Business)
Reuters: Leading economies told Europe it must put up extra money to fight its debt crisis if it wants more help from the rest of the world, piling pressure on Germany to drop its opposition to a bigger European bailout fund. Euro zone countries pledged on Sunday, at a meeting of finance leaders from the ...
- G20 moves to line up huge rescue deal for April (Category: Business)
- G20 pushes for extra steps from Europe on crisis (Category: Business)
- IMF seeks more funds; G20 to discuss (Category: Business)
- Euro zone crisis set to dominate G20 meeting in Paris (Category: Business)
In a change of sentiment, the Government is asking people to step onto the streets and protest the possible US resolution Sri Lanka is facing at the United Nations Human Rights Council sessions, which kicked off yesterday. It was reported that over 150 protests were organised by different parties around the country and in an ...
- Protests in Sri Lanka against proposed U.N. rights resolution (Category: Breaking News)
- People Will Have To Pay Says UNP (Category: Breaking News)
- After Geneva (Category: Breaking News)
- US to discuss LLRC at UNHRC (Category: Breaking News)
Subsidies? Well yes, but make them smart subsidiesNigeria: Subsidising the neighbours Nigeria’s Central Bank Governor, Sanusi Lamidi Sanusi, had a problem. In a recent live interview with the Aljazeera TV, he said that his country had to raise the retail prices of all petroleum products to match the rising international prices, despite the violent and ...
- Treasury defends fuel revisions (Category: Business)
- Nigeria regulator announces end to fuel subsidies (Category: Business)
- CPC implications (Category: Business)
- Commendable start; now for the finish (Category: Business)
TOKYO (Reuters): Asian shares crept higher on Friday as solid U.S. data improved sentiment, but gains may be limited by concerns that rising oil prices could deal a further blow to the fragile euro zone economy and moves to take profits after recent rallies. MSCI’s broadest index of Asia Pacific shares outside Japan was up ...
- Asian shares, commodities fall (Category: Business)
- Asian shares rise; oil spikes on Iran tension (Category: Business)
- Asian shares fall on European political uncertainty (Category: Business)
- World stocks off early highs ahead of US jobs (Category: Business)
Avoiding a crisis The Pathfinder Foundation (PF) commends the Treasury and Central Bank for the policy measures introduced recently. This has prevented an external payments crisis. Without remedial action, the country would not have been able to meet its debt obligations and/or finance essential imports within a short period of time. The increases in the ...
- Rupee depreciation: A powerful tool to drive growth and employment? (Category: Business)
- Taming the ‘monsters’ (Category: Business)
- Do not do too little too slowly to boost growth (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
THE effects of the fuel price hike and its effect on public expenditure is finally beginning to surface. The Finance Ministry has directed all Government institutions to limit their consumption of fuel and electricity as a priority following the upward revision of prices. The Ministry has emphasised that this is a national responsibility entrusted on ...
- Govt. says will allocate Rs. 1.9 b a month as relief from high fuel prices (Category: Business)
- Treasury directs State sector to rationalise fuel, electricity expenses (Category: Business)
- Champika to cut expenses by 10% (Category: Business)
- Schools closed tomorrow due to fuel crisis (Category: Breaking News)
Safety and food hygiene of Colombo eating houses quite poor, says CMC’s Chief Medical Officer By Cheranka Mendis Even though Colombo has over 750 eating houses (from five-star hotels to roadside ‘bath kades’), only 290 obtained trade licenses last year, CMC Chief Medical Officer Dr. Pradeep Kariyawasam said. Speaking at the Indexpo food and management ...
- Typhoid: Public Urged To Take Precautions (Category: Breaking News)
- CMC on kitchen cleaning spree (Category: Breaking News)
- Sri Lanka’s first-ever food certification firm set up with $ 1.3 m (Category: Business)
- Ind-Expo helps industries and hotels meet new food hygiene regulations (Category: Business)
The following is the full statement issued by UNP MP Karu Jayasuriya yesterday: The Government has stated that they do not suppress peaceful demonstrations. However this statement was made after suppressing the demonstration held during last week by unarmed masses and political parties demanding the Government to reduce the price of fuel and the cost ...
- President tells one story to India, another to us, says Sri Lanka Kandy District Parliamentaria... (Category: Breaking News)
- NGO's to work against SriLanka at UNHRC (Category: Breaking News)
- Analysis: Will web 'snoop' plans work? (Category: Technology)
- This Week in Government: Board of County Commissioners discuss replacing senator for SD48 (Category: USA, Montana)
UNP demands closure of Mihin Lanka and halt inconstruction of new tower UNP MP Dr. Harsha de Silva yesterday demanded that the Government give subsidies that will support families with the increasing prices. On the kerosene subsidy that the State said would be given, he noted that Rs. 200 was inadequate to support rising costs. ...
- CEYPETCO revise fuel prices from midnight today (Category: Breaking News)
- PAY MORE AT THE PUMP (Category: Breaking News)
- Fuel price increased announced (Category: Breaking News)
- Bread prices up by Rs. 20 from tomorrow (Category: Breaking News)
Contrary to exaggerated claims the EPF investments in to the stock market last week had amounted to only less than 10% of market activity and unlike some past contentious buys, this time around it had focused on blue chips. The total turnover of the Colombo bourse last week was Rs. 8.6 billion and local purchases ...
- Investor confidence worsens by the day; bourse loses Rs. 53 b in value (Category: Business)
- Crisis Colombo! (Category: Business)
- Foreign net inflow tops Rs. 3 billion (Category: Business)
- Aitken Spence draws biggest foreign buying as net inflow tops Rs. 1 b (Category: Business)
EPF and stock market I was sad to see in the FT that EPF has begun to purchase stocks in the market again. Is it to give the market a boost or is it to fatten someone’s pocket again, as some people claim? It was not very long ago that the fund made so much ...
- No investigations yet on EPF transactions (Category: Business)
- Don’t judge EPF investments in Bourse too harshly (Category: Business)
- Ranil fires all cylinders (Category: Business)
- Ranil brush up! (Category: Business)
Sharp reduction in vegetables prices thanks to higher output could help soften an otherwise sharp spike in inflation following the unprecedented fuel hike and devaluation of the rupee, according to analysts. In recent weeks, prices of vegetables have dropped by as much as 50% or more and this development will make the additional cost following ...
- Food price increase leads to higher inflation rate in July – CB (Category: Business)
- Inflation decelerates in August says Central Bank (Category: Business)
- April inflation up owing to increase in food prices (Category: Breaking News)
- Sri Lanka ends 2011 with inflation remaining at single digit level (Category: Business)
Reuters: Israeli Defence Minister Ehud Barak said on Saturday a nuclear-armed Iran would trigger an arms race in the Middle East and nations should impose “crippling” sanctions on Tehran to force it to give up its atomic programme. “A nuclear Iran is a threat to the whole world, not just to Israel … Other major ...
- US not backing off as Iran sanctions bite (Category: Business)
- Strike on Iran could hurt world economy, US says (Category: Business)
- Romney backs Israel if needs to strike Iran – aide says (Category: Business)
- Bombing puts India’s trade ties with Iran to the test (Category: Business)
Reuters: Asian shares rebounded on Friday on signs that euro zone officials will soon approve a long-awaited bailout for Greece, and after jobs and factory data pointed to a healthier U.S. economy. Financial bookmakers expected European stocks to track Asian shares higher, with financial spreadbetters calling the main indexes in London .FTSE, Paris .FCHI and ...
- Asia shares fall steeply on worries over Spain banks, growth (Category: Business)
- Asian markets gain on Greece breakthrough (Category: Business)
- Euro zone fears rattle global markets (Category: Business)
- Asian shares, commodities fall (Category: Business)
Reuters: Iran, facing sanctions that could cripple its oil exports, has told world powers it wants to resume long-stalled talks with “new initiatives”, and France said it might be open to addressing suspicions about its nuclear programme. Tehran made the offer in a letter to the EU’s foreign policy chief obtained by Reuters on Thursday, ...
- Letter To Tiran (Category: Breaking News)
- Marsh sends letter of demand to SLC (Category: Business)
- Iran halts oil sales to UK, France on eve of talks (Category: Business)
- Iran imposes oil ‘counter-sanctions’ on EU (Category: Business)
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