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Richardson Projects is a subsidiary of the Richardson Group, which is a pioneer in Sri Lanka’s electrical products and infrastructure industry recently launched the successor to Moeller brand Eaton. Moeller and Eaton, two of the most established and respected names in the electrical sector came together as Eaton acquired Moeller in the year 2008. In ...
The location of Sri Lanka has a strategic significance and this has been proven by the historical trading activities between Sri Lanka and ancient China, Egypt, and the Roman Empire. There is ample evidence to show that Sri Lanka was a main trading hub in Asia. The reasons for occupation of Sri Lanka by the ...
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
By Shanuka Tissera Amendments to the Petroleum Products (Special Provisions) Act have been finalised and approved by the Attorney General. It is expected that both bills will be presented to Parliament shortly for enactment. Pending the enactment of new legislations, the Cabinet of Ministers has appointed the Public Utilities Commission of Sri Lanka (PUCSL) as ...
The launch of Piaggio BOSA, manufactured in India using ultra-modern Italian technology, was held at Waters Edge recently. Introduced to the market by Associated Motorways Ltd (AMW), the distinctive features of Piaggio Bosa and the warm reviews it received from Dealers, amply demonstrated its capability to revolutionise the automotive trade. The launch ceremony of Piaggio ...
The SAFA-CMA Management Accounting Summit 2012 held in June this year revolved around the theme ‘Corporate Social Responsibility and Sustainability Practices,’ of which the highlight was the final session of the two-day summit, the CEO and CFO Forum. The panel featured Dialog PLC Group CEO and Managing Director Dr. Hans Wijayasuriya, John Keells Holdings Finance ...
SINGAPORE (Reuters): Asian gasoil prices remained supported on Monday as spot demand emerged from Sri Lanka and the Philippines, traders said. Gasoil cracks slipped by 14 cents to $19.91 a barrel while September prices increased more than October gasoil prices in the derivatives market. Sri Lanka’s Ceylon Petroleum Corp. is seeking 300,000 barrels of gasoil ...
The Planters’ Association of Ceylon, the representative body of the island’s corporate plantation sector lauded the Regional Plantation Companies (RPC’s) which secured awards at the first ever National Plantation Awards held at Temple Trees recently. The ceremony saw a total of 86 outstanding performers including smallholders, manufacturers, exporters and RPCs receive awards from...
United Motors Lanka PLC (UML) recently introduced the Valvoline diesel synthetic 5W-40 to the Sri Lankan market. The diesel synthetic 5W-40 is formulated with high-quality synthetic base stocks and a boosted additive system. The diesel synthetic 5W-40 boasts hi-performance synthetic technology that meets the stringent demands of modern diesel engines, including those built on ...
THE cost of living is a daily state of being, rather than a condensed number for the masses. However, the latest August data depicts dangerous signs for the Government as it heads towards elections. On Tuesday President Mahinda Rajapaksa was seen visiting the drought-hit regions ahead of his campaign trail in the three provinces that ...
The Sri Lanka Institute of Marketing (SLIM) together with the Bucks University featured the 2012 award winners from Singapore of global business associations and chief marketing officers under the theme ‘Is The Party Over?’ at Galadari Hotel, where a select audience of 200 business and marketers attended the event. Some of the key points discussed ...
Achievements so far The authorities have achieved significant success in reducing the budget deficit from 9.8% of GDP in 2009 to 6.8% in 2011. The bold measures introduced in February/March 2012 to increase fuel and electricity prices, passing on higher global costs, have gone a long way towards reducing the off-balance sheet losses of 2% ...
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 ...
Diesel and Motor Engineering PLC (DIMO) recently introduced the first Komatsu PC130-8 excavator to the local market. The first excavator was delivered to Rodrigo Electricals – Wattala Director Randeer Rodrigo by DIMO General Manager – Construction and Mining Machinery Chaminda Ranawana at the DIMO construction machinery service complex at Siyambalape. Speaking at the handing over ...
Adds 10MW of renewable, sustainable energy to National Grid Nirmalapura Wind Power (Pvt) Ltd. commenced commercial operation yesterday and is expected to add 10 megawatts to the National Grid through its wind turbine generators. The venture is the latest step towards boosting the power requirements of the nation through renewable and sustainable ‘green’ energy. Green ...
The Singer Group’s recently released results showed that it continued its growth momentum with 2012 first half revenue up 23% to Rs. 12.6 billion and net profit by 21% to Rs. 680 million over the corresponding period of last year. The Group’s results in the first half were impressive considering that they were achieved despite ...
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
RAM Ratings has called for right policy measures to diversify the country’s energy sources as well as increase private sector participation in the sector. This and several other key recommendations along with salient developments are highlighted in RAM’s energy sector update titled ‘Sri Lanka Power Sector – Firing the Rain’. The report said, drawing parallels ...
Can one imagine how long it took a ship to arrive from London to Colombo five centuries back? Now it takes only a couple days to courier a special package to any part of the world and a full file of any amount of documents could be sent to any part of the world in ...
Heavy challenges faced by currency depreciation and increase in fuel, energy and other costs Nestlé Lanka PLC, Sri Lanka’s leading nutrition, health and wellness company has recorded a good revenue growth of 13.5% (YoY) for the six months ending 30 June 2012, posting a revenue of Rs. 14.5 billion against the background of a difficult ...
The 2012 Suzuki Swift Sport first appeared at the Australian Motor Show in concept form back in July 2011. Fast forward 12 months and the hatch fans can now buy the production version in Colombo. The road going version of the Swift Sport has changed little since the concept appeared. While it looks a little ...
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. ...
UNP MP Dr. Harsha De Silva yesterday called upon the Government to take urgent steps to reverse the decline in apparel exports. He said that the Central Bank had announced that apparel exports fell every month this year in spite of the depreciation of the currency in February. Monthly exports amounting to US$ 367 million ...
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 ...
By Amantha Perera IPS: For many Sri Lankans, the effects of climate change can be summed up in one word: rainfall. “The biggest impact (of climate change) is rainfall or the lack of it,” W.L. Sumathipala, one of Sri Lanka’s foremost experts in changing climate patterns, told IPS on a scorching hot and humid day ...
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 ...
Four examples; two bad and two goodThe website of the London Economist newspaper has a reference to an official of a certain country referring to a journalist in words similar to what follows – I have substituted words which would be appropriate to an officer and a gentleman addressing a lady, for what was actually ...