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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)
Reuters: Sri Lanka expects crude imports from Iran to drop by at least 10 per cent this year due to a range of inflation-fighting policies that should cool demand, potentially helping it find a way around US sanctions, a Government official said on Friday. The island is facing one of the biggest squeezes from the ...
- Sri Lanka expects 10% drop in its Iran crude demand (Category: Breaking News)
- Sri Lanka’s Iran crude imports may drop up to 20% (Category: Business)
- Sri Lanka suffering huge loss after replacing Iranian oil with Arabian crude (Category: Business)
- Sri Lanka expects 10% drop in its Iran crude demand (Category: Breaking News)
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)
The Government says that oil imports from Iran have been stopped and that purchases are being made from alternative sources. Petroleum Minister Susil Premajayantha has told parliament that Sri Lanka has commenced purchasing Arabian Light Oil instead of Iranian Light Oil. He has said that Sri Lanka could no longer purchase oil from Iran due ...
- Oil Gush (Category: Business)
- Why is there more oil seed rape being grown? (Category: Technology)
- Shortages: Is 'peak oil' idea dead? (Category: Technology)
- New Mexico increases enforcement of clean-up at oil sites (Category: USA, New Mexico)
The local arm of the professional body Chartered Institute of Logistics and Transport (CILT) has expressed concern over the manner in which the recent bus fares were increased by the Government. Given the serious implications of the hike as well as the Government’s apparent deviation from the previously agreed method for revisions, the CILT Sri ...
- Bus fare hike not done properly – Chartered Institute of Logistics and Transport (Category: Breaking News)
- Pvt. Bus Owners Ask For Fare Hike (Category: Breaking News)
- Pvt. Bus Owners To Increase Bus Fares (Category: Breaking News)
- Pvt. Bus Fares Increased By 7.6% (Category: Breaking News)
The Colombo stock market is increasingly showing signs of rebirth as its value has risen by Rs. 153 billion in a week after slumping sharply on 2011 Valentine’s Day. Bullish sentiments saw the Bourse up over 2% yesterday with market capitalisation improving by Rs. 41 billion to Rs. 1.987 trillion bringing the total to Rs. ...
- Blue Chips attract more foreign buying (Category: Business)
- Rupee slips on importer dollar demand; stocks flat (Category: Business)
- Bourse rises to 2-month high on foreign buying (Category: Business)
‘Let style be your substance’ screams at me from a billboard in Colombo as I find my way through traffic generated by one of our No. 1 imports – motor vehicles. Latest models pass me, blaring their horns in a hurry to get to their destinations and I know that no way are these magnificent ...
- Results of 2012 SAARC Film Awards (Category: Business)
- Kumarika rewards winners at Nekethata Thegi awards ceremony (Category: Business)
- Sampath Bank the Official Banker for Construct 2012 (Category: Business)
- Young guns to share insights to positioning Sri Lanka in global economy (Category: Business)
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)
For over 120 years the name Mercedes-Benz has guaranteed trucks of highest quality. In the European and Latin American markets Mercedes-Benz Trucks today is still synonymous with reliability and economy, first-rate quality in product and service as well as global competency in customer-focused transport solutions. This applies to the Actros, Axor and Atego truck lines ...
- Mercedes-Benz trucks and vans available for order (Category: Business)
- DIMO delivers the first brand new Mercedes-Benz Actros to LAUGFS Gas (Category: Business)
- Mercedes-Benz is the most valuable premium automotive brand! (Category: Business)
- Mercedes-Benz New Year Bonanza Winners Get Brand New TATA Nano Cars (Category: Business)
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)
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: 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)
The third edition of Jaffna International Trade Fair 2012 was held recently at Durayappah Stadium, Jaffna. This event showcased a wide range of products and services from various industries and brought together the business community in the Northern territory. The Nations Express Centre offered visitors an opportunity to experience a range of financial products such ...
- ERI Group, Your Radio team up for promotions (Category: Business)
- American Express and Abans make joint offer (Category: Business)
- Anything.lk, anywhere… everywhere! (Category: Business)
Sri Lanka’s cricketing fortunes seem to be changing of late. The team’s better performance has raised hopes among many fans, while the Sports Ministry’s decision to finally pay the cricketers through a Rs. 600 million loan from the Bank of Ceylon will raise moral still higher. The financial fallout that resulted from the co-hosting of ...
- Extremist Leader (Category: Business)
- Sanga Resigns (Category: Breaking News)
- Basnahira Cricket Dundee launches official team jersey (Category: Business)
- Sri Lanka Cricket crave for more matches against India (Category: Sports)
A fisherman was shot dead allegedly by the law enforcement authorities during protests in Chilaw on Wednesday. While this finally pushed the Government into giving fuel subsidies for the fishermen, a graver problem has opened up with fishermen continuing to protest – for justice. It has been reported that several eyewitnesses saw Police and Army ...
- SL repatriates 35 Indian fishermen after cyclone (Category: Breaking News)
- TN determined to regain Katchatheevu (Category: Breaking News)
- Sri Lankan fishermen in Maldives to be repatriated (Category: Breaking News)
- 7 more TN fishermen land on Sri Lankan shores (Category: Breaking News)
ASI gains by 5% as Bourse’s value swells by Rs. 96 b Brokers positive after fresh meeting with SEC EPF, private institutional and high networth investors active on attractive valuations The Colombo stock market yesterday produced a major rebound gaining by 5% thanks what some described as “spirited support” whilst others emphasised it was largely due ...
- Investor confidence worsens by the day; bourse loses Rs. 53 b in value (Category: Business)
- Crisis Colombo! (Category: Business)
- From bust to boom? (Category: Business)
- ‘Boom’ is back? (Category: Business)
Sri Lanka fishermen shot to death in fuel protest
By Uditha Jayasinghe Despite a fuel adjustment charge coming into effect from midnight yesterday, the Ceylon Electricity Board (CEB) will remain in the dark with a whopping Rs.97 billion subsidy from the Government. The Public Utilities Commission (PUC), while announcing its new fuel adjustment charges, told the media that the CEB expense is projected at ...
- The quest for power (Category: Business)
- Electrifying losses (Category: Business)
- Electricity tariff to go up : People to stage protest against this (Category: Breaking News)
- No More Cheap Fuel For CEB (Category: Breaking News)
One person was killed and several others received injuries during a demonstration held by the fishermen in Chillaw yesterday against the fuel price hike, the police said. Sri Lanka Police Media Spokesperson Superintendent of Police Ajith Rohana said an individual died due to gunshot injuries at an unruly protest held in Chilaw. The police had ...
- 14-year-old boy fatally shot in Belmont Central (Category: USA, Illinois)
- 14-year-old boy fatally shot in Belmont Central (Category: USA, Illinois)
- 14-year-old boy fatally shot in Belmont Central (Category: USA, Illinois)
- 14-year-old boy fatally shot in Belmont Central (Category: USA, Illinois)
SRI LANKA is still electrified by the unprecedented fuel hike and the fallout continues to grow. On Wednesday a fishermen was shot dead as protestors clashed with the police in Chilaw prompting the Government to issue an immediate subsidy. JVP protesters were tear-gassed and the Political rhetoric continued for a fourth day as the Government ...
- No light for CEB! (Category: Business)
- CEB is not a burden on national economy, says Power Minister (Category: Business)
- Electrifying losses (Category: Business)
- CEB threatens to cut power of all unpaid bills (Category: Business)
(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “demand-driven impact” and help moderate inflation, its Governor Ajith ...
- Sri Lanka stocks may slump more on rates – HSBC Private (Category: Business)
- CB Governor sees light at the end of the tunnel (Category: Breaking News)
- Rupee hits new low, but State intervenes (Category: Business)
- Rupee down (Category: Business)
Sri Lanka’s benchmark stock index, the world’s worst performer this year, may extend its slump as the central bank raises interest rates to curb inflation, according to HSBC Holdings Plc’s private banking unit. HSBC Private Bank, which oversees about $499 billion, will wait for stock valuations to fall to “single digit” multiples before it considers ...
- Stocks approach one-month low; rupee steady (Category: Business)
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- Sri Lanka Stocks May Slump More on Rates, HSBC Private Says (Category: Breaking News)
- CB seen holding rates, SRR steady – Reuters poll (Category: Business)
TKS Securities yesterday described the fuel price revision by the Government as a bold move though it will have an impact on inflation. “We consider the ret action which has sent shockwaves amongst the masses,” the broking firm said an economic update. “Given the current global and domestic economic scenario we believe the Sri Lanka ...
The Government said it will allocate Rs. 1.9 billion per month to provide fuel subsidy to necessary services following the increase in fuel prices. The Ministry of Finance and Planning has announced that the fuel relief will be granted from Tuesday to the Sri Lanka Transport Board, the Railways, private buses, three wheelers, school transport ...
- Increase subsidies to support livelihoods: Harsha de Silva (Category: Business)
- Private bus owners of Sri Lanka to ask for a fuel subsidy if fuel prices increased again (Category: Breaking News)
- Govt. approves fuel subsidy to fisher folk (Category: Breaking News)
By Chamitha Kuruppu The two main opposition parties yesterday blamed the Government for making false promises to the people and called the fuel subsidy was just another gimmick of the Rajapaksa administration. The United National Party accused the Government, claiming the fuel subsidy for the private transport services and fisheries sector was nothing but a ...
- Opposition political parties to stage protest against fuel price hike in the country (Category: Breaking News)
- Government unhappy over fuel price hike : Minister Sirisena (Category: Breaking News)
- Subsidy a hoax, UNP says (Category: Breaking News)
- Laugfs Gas requests price hike (Category: Business)
Contrary to Government assurance of minimal impact from the unprecedented fuel hike of Sunday, a set of upward price revisions including on bus fares and electricity will become reality from today. Striking private bus operators yesterday won their demand with the Government agreeing to let fares up by 20% with minimum ticket priced at Rs. ...
- Bus operators to protest if govt. fails to respond (Category: Breaking News)
- Private bus owners warn of another fare hike (Category: Business)
- Private bus operators in Sri Lanka could reduce bus fares if a fuel subsidy was given (Category: Breaking News)
- Private bus men vow action (Category: Breaking News)
Purple Park, Sri Lankan cricket legend Lasith Malinga’s car detailing centre, became an authorised centre for 3M’s car care range. The centre, located in Hanwella, Angoda, officially became an authorised 3M car care centre on 26 January. 3M is a leading supplier to the motor trade and is globally recognised for high quality innovative products ...
- 3M launches Long Life Coolant (Category: Business)
- 3M, a Global Partner in Innovation (Category: Business)
- Leveraging 3M capabilities to build businesses (Category: Business)
- 3M rewards individual excellence at Annual Awards Night (Category: Business)
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