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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)
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)
High fuel prices and an oversupply of ships will dampen earnings and profitability for global shipping operators over the coming 12 months, says Standard & Poor's Ratings Services in a new report "Top 10 Investor Questions: Oversupply And High Fuel Prices Sink Prospects For Global Shipping." Bunker fuel, which constitutes the bulk of voyage expenses ...
- Fuel price hike imminent, but private buses to get diesel subsidy in Sri Lanka (Category: Breaking News)
- Sri Lanka boosting Colombo bunkering capacity 50 pct (Category: Business)
- Global shipping downturn worse than 2008-China (Category: Business)
- China to cut fuel prices by 3% from record highs (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)
By Cheranka Mendis Despite the Central Bank’s forecast reading 7.2% growth for 2012, RAM Ratings Lanka CEO Adrian Perera is confident that the country can touch the 7.5%-7.6% mark by the end of the year. Perera told the Daily FT that the new projection is a realistic number from the 8% noted at the beginning ...
- RAM Ratings moves into new office (Category: Business)
- CA Sri Lanka Annual Report Awards powered by RAM Ratings (Category: Business)
- LB Finance rating rises to A-/P2, heralding a stable outlook (Category: Business)
- RAM Lanka sponsors ICASL Annual Reports Award Ceremony (Category: Business)
CONCERN over the controversial Channel 4 documentary has reached a fever pitch. In fact it is so high that it is causing some politicians to talk deliriously and call for local consumers to boycott US products such as Pepsi and Coca Cola or return to the days of snail mail by forgoing Gmail. Even though ...
- Bond Auction (Category: Business)
- ‘SL will implement home-grown solution’ (Category: Breaking News)
- Market Flavour (Category: Business)
- Seeking Direction (Category: Business)
The Consumer Day Forum is organised by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and the Institute of Policy Studies of Sri Lanka (IPS) as a part of the Public Private Awareness effort on issues pertaining to business, economy and the society. In 1962, John F. Kennedy, Former President of ...
- Hameedia partners SLIM on Mod-Tradi (Category: Breaking News)
- Durable Freedom (Category: Business)
- Solutions Mechanism (Category: Business)
Preamble State ownership of public utilities dates back to the colonial period. The early post-independent years saw the State establish public enterprises that were involved in the production and distribution of key goods and services. The share of State ownership in the economy expanded steadily and gathered momentum in the 1970s when Government policy, in ...
- CPC implications (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
- Fuel a price change (Category: Business)
- Commendable start; now for the finish (Category: Business)
Broking firm DNH Financial Ltd. is stressing that with interest rates on the rise, stock selectivity becomes even more vital for investors. It said Treasuries yields have risen across maturities with the three month, six month and 12 month yields rising by 31 bps, 24 bps and 15 bps respectively to 10.11%, 10.18% and 10.45% ...
- Bullish DNH forecasts ASI hitting 7,500 in 3Q; 9,000 by year-end (Category: Business)
- Equities vs. rising interest rates: Gains exist (Category: Business)
- CB seen keeping rates steady for fifth straight month (Category: Business)
SRI LANKA’S fabled post-war window of opportunity seems to be closing, with the Central Bank following the International Monetary Fund (IMF) in reducing growth rates for 2012. But does that mean only gloom awaits Sri Lanka or can we ride out the tide and reach the golden shores? The Central Bank had originally forecast this ...
- CB seen keeping rates steady for fifth straight month (Category: Business)
- Central Bank seen holding rates, SRR steady (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
It is pleasant to lead a peaceful life with no encumbrances and without debts. In the modern world, debt has become a part of life like breath. In Sri Lankan society, it has not been the case and the practice before. It has been a burden and a commitment for somebody to live in a ...
- World Consumer Day: ‘Our Money Our Rights’ (Category: Business)
- Does your money really belong to you? (Category: Business)
Peninsula, DOHA: The Sri Lankan rupee which has been fast tumbling against the dollar is expected to recover soon, and might actually begin appreciating, says Sri Lanka’s Central Bank Governor Ajith Nivard Cabraal. The official said that the rupee now ruling at 120 a dollar will start looking up over the next “six to eight” ...
- CB says policy rates appropriate (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
- Can and will sustain rupee defence: CB Chief (Category: Business)
Access Engineering Ltd. yesterday announced that its Rs. 500 million IPO was oversubscribed within a few hours of opening. As the IPO was oversubscribed, the subscription list closed on 6 March 2012, the official day of opening of the IPO, according to the regulations laid down by the Colombo Stock Exchange. The company issued 20 ...
- Access Engineering IPO announces share allotment basis (Category: Business)
- Sri Lanka’s Access Engineering IPO oversubscribed (Category: Breaking News)
- Access Engineering launches Rs. 500 m IPO delivering new hope (Category: Business)
- Access Engineering shares to debut on Tuesday (Category: Business)
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)
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)
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)
Cisco on Thursday announced the launch of the first Cisco Student Industry Training Program [CITP] in Sri Lanka. The six-month program, scheduled to commence in March, is aimed at providing Cisco Networking Academy students a unique opportunity in industry attachment to fuel ICT adoption and drive economic growth. This significant industry- academia collaboration will witness ...
- Cisco Networking Academy holds Second Sri Lanka Cisco Career Fair 2011 (Category: Business)
- Infotel 2011 to ‘Accelerate IT’ (Category: Business)
Diversified blue chip Hayleys remains optimistic of future prospects despite what its Chairman Mohan Pandithage described as “adjustments-required” temporary challenges. With regard to new policy developments relating to exchange rate and fuel prices, the Hayleys Chief admitted they do cause some temporary adjustment costs, but in the long-term they will help improve macroeconomic stab...
- Video: Govt. is following 'black market' policy (Category: Video)
- Video: Substandard fuel ordered for 'fake emergency' (Category: Video)
- Video: Coupons provided but not fuel subsidy - UNP (Category: Video)
- Video: Political revenge was not my style - Mahinda (Category: Video)
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)
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