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REUTERS: US astronaut Neil Armstrong, who took a giant leap for mankind when he became the first person to walk on the moon, has died at the age of 82, his family said on Saturday. Armstrong died following complications from heart-bypass surgery he underwent earlier this month, the family said in a statement, just two ...
Reuters: A European crackdown on pollution from ships will require billions of dollars worth of investment by shipping firms on filter technology and by refineries on upgrades to produce cleaner fuels – burdens they can ill afford. The shipping industry is already struggling due to poor global demand and overcapacity, which have pushed freight rates ...
Reuters: Tanzania has suspended the head of its ports authority and six other senior port officials over allegations of cargo theft and embezzlement of public funds, the transport ministry and local media said on Friday. The government is struggling to crack down on corruption in ministries and state institutions, with the public losing patience at ...
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 ...
BEIJING, (Reuters Point Carbon): China will plough $372 billion into energy conservation projects and anti-pollution measures over the next three-and-a-half years, part of a drive to cut energy consumption by 300 million tonnes of standard coal, the country’s cabinet said Tuesday. A report from China’s State Council, or cabinet, said the investments will take China ...
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 ...
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’...
Thai Airways International has taken delivery of the first of eight brand new Boeing 777-300ERs being leased from Singapore’s BOAC. The new B777-300ER aircraft, which you can see in the short HD video below, features Thai Airways’ new cabin interior design, IFE system and seats. The aircraft is the first in the airline’s 2011-2017 corporate ...
A veteran Sri Lankan scientist in the global petroleum industry Dr. Gamini Amarasekera, BSc. (first class), MRACI (Aus), and PhD (Aus) has joined LAUGFS Lubricants Limited as a consultant to improve its products and services under LAUGFS lubricant brand. Dr. Amarasekera started his career in the petroleum industry with the Ceylon Petroleum Corporation in 1979 ...
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 ...
PARIS/LONDON (Reuters): Leading members of the Group of 20 nations are prepared to trigger an emergency meeting to address soaring grain prices caused by the worst US drought in more than half a century and poor crops from the Black Sea bread basket. France, the United States and G20 president Mexico will hold a conference ...
NEW DELHI, (Reuters): India’s wholesale inflation unexpectedly fell in July to a near three-year low but economists doubt the drop will be enough to persuade the central bank to cut interest rates at its September meeting to try to revive the struggling economy. Inflation dropped to 6.87% in July from 7.25% in June as domestic ...
By Nisthar Cassim The world’s leading nutrition, health and wellness company, Nestlé said last week Sri Lanka is a high growth market with strong upside in tandem with improving socioeconomic development aided by the end-of-war benefit. “We are experiencing double digit growth in Sri Lanka and see very positive prospects going forward. Our commitment to ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
1Q pre-tax profit up 42% to Rs. 2.4 b; bottom line higher by 34% to Rs. 1.6 b; revenue improves by 26% to Rs. 20 b Premier blue chip John Keells Holdings (JKH) has made a good start in the new financial year 2012/13 with turnover and profits up but its Chairman Susantha Ratnayake has ...
Blue Flame Technologies (Pvt) Limited was recently appointed the exclusive distributor of BROAD non-electric chillers for air conditioning systems in Sri Lanka and the Maldives. From left: Director Business Development Richard Bahar, Managing Director Z.M. Hairu, International Sales Manager – South East Asia for Broad AC Jimmy Chen, Director PR and Sales Derrick Karunaratne and ...
BULAWAYO, Zimbabwe, (IPS): The Global Environment Facility (GEF) is ready to be a catalyst for transforming the way the global environment is managed, said the next CEO and chairperson of the multilateral institution, Dr. Naoko Ishii, in this interview with Tierramérica *. The GEF recognises the inseparable linkage between environmental and economic well-being, which was ...
Reuters: The United Nations’ carbon offset market has a long future in helping the world curb man-made greenhouse gas emissions, even with carbon prices at record lows, the executive chairman of the UN Clean Development Mechanism (CDM) said last week. UN-backed carbon credits, called certified emissions reductions (CERs), have plunged around 70 per cent over ...
Sunil Bharti Mittal, India’s fifth largest dollar billionaire of Airtel fame, and Indian Commerce Minister Anand Sharma are among the renowned members of the top Indian delegation coming here next month. “The high-level Indian trade delegation arriving next week will consist of reps from the Government, business and the chambers. The arrival of this delegation ...
Industry experts urge disillusioned local investors to ‘buy when it’s down and sell when it’s up’ In a highly volatile atmosphere and with low investor confidence in the Colombo Bourse, experts earlier this week went against the negative sentiments and instead stated that now is the time to buy. These views were aired at a ...