The Asia Capital Group today announced that construction of a 30 room hotel property, Taprobana, has begun in Balapitiya and is expected to be completed in time for summer 2013. Work has also begun on another 30 room property in Wadduwa, situated in a prime beachfront location which will be opened simultaneously. Asia Leisure owns ...

Benito Mussolini, the fascist ruler of Italy, during World War II, said that his brand of fascism ‘should be more appropriately called Corporatism, because it is a merger of state and corporate power’. Compare this with the dictionary definition of capitalism: ‘A system in which a country’s business and industry are controlled and run for ...

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 ...

The episode will be aired on 25th February 2012 at 9.00 p.m. on ITNThis Saturday’s episode of IDEATORS on ITN partners with Sri Lanka leading jeans brand LiCC. IDEATORS’ is the British Council’s flagship reality-TV entrepreneurship challenge As competition intensifies on the hit TV show, the participants face a unique challenge surrounding the premium jeans ...

Dialog Axiata Plc has ended the 2011 financial year ringing a Rs. 5.4 billion profit, up by 6% over the previous year. The full year results were supported by a Group net profit of Rs. 1.4 billion in the fourth quarter, up by 2% from a year earlier. The Group recorded strong revenue growth across ...

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, ...

Trinity College, Kandy, won the first place of the ‘IT Mastermind 2011’ Inter School Quiz tournament organised by the Computer Society of Sri Lanka (CSSL) and fully sponsored by ESOFT Computer Studies Pvt Ltd. Accordingly, the laptop computer worth Rs. 75,000 being the prize for the first place winner, and the set of computer peripherals ...

  Bollywood singing sensation and heartthrob Sonu Niigam will arrive today for a mega musical extravaganza tomorrow night at the CH and FC. Star Event Management is the brainchild of Sudharma Nettikumara, the lady credited with bringing Niigaam down for Sri Lanka’s first live concert.  The award-winning Niigaam has sung for many box office films ...

IBM yesterday unveiled smarter computing solutions designed to transform, grow and make Sri Lankan enterprises more competitive. A wide range of workload-optimisation hardware solutions, such as IBM Storwize V7000, IBM Starter Kit for Cloud and IBM BladeCenter blade servers were presented at the IBM Smarter Computing Forum. Tailored to the local market needs through IBM ...

Q: 13 Plus has become the most discussed topic in the political scene. What do you think about 13 Plus? A: Before looking at the 13th Amendment or the 13 Plus, first let us give a chance to the present mechanism. I strongly believe the present mechanism can address the majority of our issues. The ...

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 ...

Secretary to the Secretary to the Ministry of Coconut Development and Janatha Estate Development has been appointed to the Board of Aviva NDB Insurance Plc with effect from 8 February 2012. Siriwardena already serves on the Board of NDB Bank Plc., on to which he was appointed in June 2010. He has been appointed to ...

Ceylon Biscuits Ltd.’s subsidiary company CBL Foods International Pvt. Ltd. officially opened the newly-built school hall of Ranala Model Junior School. An outright donation by CBL Foods at a cost of Rs. 7 million, the multipurpose hall consists of meeting rooms, classrooms and a mini auditorium for student assemblies and performances. The school is in ...

Today the life patterns of everybody have become a very competitive race with or with out one’s consent. Needless to say as a result the human beings are left with lot of stress and stress related health issues. Engaging in humour and laughter is a proven mode of releasing such stress. Making people laugh is ...

MALE (Reuters): The former President of the Indian Ocean archipelago of the Maldives sat inside his house awaiting arrest on Thursday after being ousted from his post in what he said was a coup at gunpoint. About 200 supporters stood under umbrellas in the pouring rain outside as Mohamed Nasheed spoke to reporters at his ...

HAS democracy failed in the Maldives? As chaos engulfs the second closest country to Sri Lanka, it is impossible not to wonder over where this change will lead. Will the country still continue as a democracy or will it fall into extremist hands? What are the lessons that Sri Lanka can learn from what has ...

The People’s Bank ‘Jaya Sri 2012’ draw was unveiled on 1 February with a view of presenting everyone an opportunity to grab the prizes they always wanted. To mark the opening of this programme, a special ceremony was held on 1 February at the Headquarters Branch under the patronage of People’s Bank CEO and General ...

The Visible Hand of the government ‘The Visible Hand’ was the title which the famed London-based economics weekly, The Economist, used when it published a special report in its issue on 21 January 2012 on the rise of state capitalism in the modern era. The title has a pun: The governments do not care to ...

DUBAI (Reuters): Stuart Broad was in scintillating form as England dismissed Pakistan for 99 on the first day of the third and final test on Friday before the visitors lost two early wickets in their reply. Broad ripped through Pakistan’s top order as the hosts collapsed to 53 for seven at lunch after winning the ...

Park Street Mews came alive with music on 29 January as it presented another unique, once in lifetime experience by hosting two international greats – Ken Stringfellow (of R.E.M fame) and Dr. Eugene Draw – a Canadian electric violinist; along with brilliant local artists Out of Time and the Beat Drummers. Ken Stringfellow – a ...

Ambassador updates foreign reporters on post-conflict development and reconciliation in Sri Lanka “Sri Lankans support a home grown solution for reconciliation” Ambassador invites international correspondents to visit Sri Lanka WASHINGTON: Ambassador Jaliya Wickramasuriya hosted a group of foreign correspondents here in a January 25 reception held at his residence, prompting a discussi...

Sydney Morning Herald: This summer’s tri-series will be played amid a backdrop of a pay dispute which sees Sri Lanka’s players owed as much as $US 5million ($4.71 million) due to a cash crisis within the country’s governing body. As Mahela Jayawardene’s team battle the world’s top two ODI sides on the field during this ...

Reuters: Mitt Romney cruised to a blowout victory in Florida’s Republican U.S. presidential primary on Tuesday that put him back in front in the fight for his party’s nomination to face President Barack Obama and left chief rival Newt Gingrich reeling but vowing to fight on. With 70 percent of the vote counted, Romney had ...

Leo Burnett Solutions Inc (LBSI), the Sri Lankan office of the internationally acclaimed advertising agency said yesterday it enjoyed an exceptional year in 2011. The agency maintained its leadership position as Sri Lanka’s premier marketing communications company and cemented its position as the Country’s leading creative agency. The agency grew exponentially in 2011 with significant ...

Every year, the Education UK Exhibition offers students and parents an opportunity to consider a wide range of study options in the UK and in Sri Lanka. The 19th annual Education UK exhibition will be held in March 2012 in Colombo, and more than 50 exhibitors from the UK will participate.    Reasons to visit ...

The market was jam-packed. A tuk-tuk overloaded with huge bunches of green bananas almost ran over my foot, knocking me off balance. Intense aromas and stenches invaded all our senses. Bicycles and the tiny motorised carts vied with jostling shoppers and merchants for space in the frenetic and frantic Pettah bazaar in the heart of ...

Text and pic by Harsha Udayakantha Peiris Malaka Dewapriya a young cinematographer with a determined  mission  towards a cinema with  a richer conception  to uplift the social bases of the communities has launched fieldwork for his first  feature on  silver screen for the local and international audience, namely, ‘Bahuchithavadiya’  which narrate...

PEO TV’s exceptional three month HBO promotion saw customers win big prizes this year. The promotion was launched on the 1st of October 2011 with a two week free preview of the HBO PAK which includes four channels – HBO, HBO SIGNATURE, HBO HITS and HBO FAMILY, for PEO TV customers. All PEO TV customers ...

Sydney Sixers coach Trevor Bayliss has expressed sympathy for Geoff Marsh who is expected to be dumped as Sri Lankan coach this week. Sri Lankan stalwart Tillakaratne Dilshan has already quit as captain in all three formats, replaced by ex-skipper Mahela Jayawardene for the upcoming limited-overs series involving Australia and India starting on February 5. ...

Effects first major move to become a self-made entrepreneur; his new venture N Capital acquires 70% stake Aspires to make iconic 35-room resort luxurious with Rs. 500 m investment to add 50 more rooms under a new wing and plush refurbishment Says deep south will be centre of economic, tourism and recreation boom with air ...