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Diesel and Motor Engineering PLC (DIMO) recently organized the Second Tata Nano Mileage Challenge Rally for Tata Nano owners in Colombo.
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 ...
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 may be overblown three years after the end of the ...
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 ...
On Friday (7) afternoon, the eve of provincial council elections in three provinces, a certain gathering took place at 101, Rosmead Place, which houses the corporate offices of Democratic National Alliance (DNA) National List Parliamentarian, Tiran Alles. Consultations that lasted for hours, took place between Alles and UNP Deputy Leader Sajith Premadasa and a few ...
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 ...
LPG can be the ideal choice and energy solution in marching forward for a strong economic growth as it is versatile, efficient and cost effective. LPG is also considered an environmentally friendly fuel due to its lower carbon emissions. Unlike some other fuels in Sri Lanka, LPG does not receive heavy government subsidies.
Case study Middle East Sri Lanka is one of the most sought-after tourist destinations in the world. It is surrounded by the Indian Ocean strategically located between West Asia and South East Asia and has been an important stop on the silk route or the Silk Road. It has all requirements to be one ...
The Standard and Poor’s (S&P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable. There are also issues related to their accountability. Despite this, and setting ...
A solution for loss-making SOEs? In the USA, a new corporate entity referred to as a Benefit Corporation (B-Corp) has been brought into being. The states of Maryland, New Jersey, Virginia, California and Vermont have legislation which permits companies to combine the profit motive with the purpose of making a positive impact on society and ...
Seeing the growing acceptance of Tata’s Nano by car cab companies in Sri Lanka, Nano’s agents here are motivating three-wheeler owners to exchange their ‘tuk tuks’ for the swankier, air conditioned and more capacious Nano. But three-wheeler owners, who are mostly working class Gulf-returnees or lower middle class skilled workers or petty traders, do not ...
Bajaj - the No. 1 Motorcycle brand in Sri Lanka, continues its leadershipandnbsp;andnbsp; ride island-wideandnbsp; by providing timely, cost-effective solutions to all segments of the market. andnbsp;
Boating industry thanks Industry Minister for strong support Sri Lanka enters prestigious International Boating Industry Magazine rankings Sri Lanka’s commercial boat sub-sector reporting stronger international orders from Asia, Africa and ME Introducing a much-sought-after measure of relief to Sri Lanka’s boating industry, the country will now introduce tax on boat imports that are la...
Sri Lanka will step into hydrogen fuel era shortly, in a bid to fuel growth in the Small and Medium Enterprise (SME) sector rather than in large-scale motor transport. andnbsp;
VESAK is the festival of light. Yet this year it seems that the lights will have to be dimmed to reflect the reduced lustre of the country’s economy. As the Power and Energy Ministry organisers raffle draws for people who save electricity during the upcoming religious season there are many other efforts happening behind the ...
HNB Pathum Vimana, the biggest deposit draw in Sri Lanka, has rewarded countless Sri Lankans with amazing prizes over the last twenty years. The lucky winners of the Pathum Vimana 2011 draw received their prizes at a ceremony organized by Hatton National Bank. The prize presentation for the winners was held at HNB Towers on ...
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
AFTER much bad news, there is a sign of relief on the oil issue. Even though it was feared that Sri Lanka would lose around 90 per cent of its fuel due to US sanctions on Iran that will come into effect from June, the latest news that only 15 per cent will be reduced ...
The Janatha Vimukthi Peramuna (JVP) spokesman and parliamentarian Anura Kumara Dissanayaka in an interview with the Daily FT critiques the on-going sessions of the UN Human Rights Council (UNHRC), the state of bad governance, deteriorating law and order and the economic crisis in the country. Following are excerpts from the interview. Q; What are your ...
Clouded prospects in developed markets cast a shadow over outlook for trade and economyBy Jonathan Story Two key forces that have driven Asia’s transformation for decades can be counted on to continue apace in the coming year: economic development and China’s rise. Nonetheless, individual Asian countries will struggle to balance domestic and international responsibilities in ...
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 ...
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 ...
(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’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 ...
Are the Indian Army’s golf courses illegal? Sri Lanka’s fourth golf course opened by Air Force India’s national auditor, the Comptroller and Auditor General (CAG), has reported to Parliament that the country’s Army has turned large tracts of State military property into illegal privately-run ...
The Range Rover Evoque, Land Rover’s sensational new SUV – a car that won 34 international awards in the three months after its first production model came off the line in September 2011 – has arrived in Sri Lanka. The smallest, lightest, most fuel-efficient Range Rover ever produced, the Evoque has been described as ‘one ...
New CEO Kapila Chandrasena upbeat on prospects for national carrier and Sri Lanka as a tourist destination post-warWhen the news of the impending change at the top in the national carrier broke, the Daily FT headlined the lead story on 6 May 2011 as ‘Turb-UL-ence,’ with a pun. But for the man in the hot ...
PARIS/NEW YORK (Reuters): Standard & Poor’s has warned it may carry out an unprecedented mass downgrade of euro zone countries, including Germany and France, if EU leaders fail to deliver a convincing agreement on how to solve the region’s debt crisis in a summit on Friday. The ratings warning sent markets reeling and drew a ...