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Countries have achieved sustained growth and development by adopting a range of approaches. Successful outcomes have come from policies varying from state capitalism to those based on market-driven private sector-oriented models. A high premium needs to be attached to the pursuit of pragmatic policies that are appropriate for country-specific conditions at a given point in ...
Confirming that sound investment strategies could pay off handsomely NDB Group yesterday announced it will receive $ 59 million (around Rs. 7.7 billion at current exchange rate) from its deal with AIA. “The net receipts of US$ 59 m, arising out of these transactions, give an opportunity for the NDB Group to further strengthen the ...
A fusion of glamour and festivities awaits guests at the annual gala dinner organised by the Sri Lanka India Society to celebrate India’s Independence Day. The celebratory dinner will be held today from 6. 45p.m. at Taj Samudra. The Chief Guest at the dinner will be High Commissioner of India to Sri Lanka Ashok K. ...
Celebrating ties between China and Sri Lanka, the Sri Lanka-China Journalists Forum in collaboration with Embassy of China will present China Nanjing Little Red Flowers Children’s Art Troupe for the first time in Sri Lanka as ‘Red Flowers on Stage’ on 30 September and 1 October at the Nelum Pokuna Mahinda Rajapaksa Theatre. The exclusive ...
Lipton Tea has reached another milestone in Sri Lanka with their latest range of flavoured tea being added to the product portfolio. The company launched three new black tea flavours which include – Earl Grey, Lemon and English Breakfast. Also the re-launch of new packaging and communication of the popular Lipton Clear Green variants – ...
As Sri Lanka’s exports under APTA grew more than three-fold by 2011’s end, the country is suddenly realising the importance of the promising sunrise FMCG segment in the 2.5 billion strong APTA markets led by APTA’s market giant, China. And in the aftermath of Pure Ceylon Tea international brand initiative, Sri Lanka is now beginning ...
Asian Development Bank (ADB) Vice President Xiaoyu Zhao has declared that Sri Lanka has big potential than any other country in Asia to become the most viable and attractive regional economic hub. “Strategic location, post conflict infrastructure development initiatives, peace and stability, high economic growth and able leadership are the main factors behind these potential,” ...
The Consulate General of Sri Lanka Dubai M.M. Abdul Raheem visited Hamriyah Free Zone Authority this week and met with Director General Dr. Rashid Alleem to strengthen bilateral business association and investment promotion between the two countries. During his meeting Raheem highlighted the investment potential and business environment for Sri Lankan business community. Sri Lanka ...
The WTO in its annual World Trade Report for 2012, in addition to analysing world trade, has dealt in detail on Non Tariff Measures (NTMs), which has gained an important place in international trade today. In a world of trade liberalisation and free trade agreements which deal mainly with tariff reductions, which are clearly spelt ...
East London recently received a boost as five ICT firms announced plans to expand their operations in Tech City, Europe’s fastest-growing digital hub. Milton Keynes, Sheffield and Ulster will also benefit from multi-million pound international business deals announced at the Global Business Summit on ICT, organised by UK Trade & Investment (UKTI) during the Olympic ...
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 to record 8.3% growth achieved ...
Globe Mirror Industries (GMI), the first tempering plant to be established in Sri Lanka in 1969 has been awarded ISO 9001:2008 certification, a clear indication of its growth and credibility in terms of maintaining a high standard of quality throughout the years. GMI was started by late Mohammed Nawaz and has since grown to be ...
A number of articles which appeared in print media in the recent past signify the volatility in the economy. High volatility leads to vulnerability. Volatility and vulnerability are reflections of the haphazard nature of the economic policies and poor economic governance in a country. What is volatility? Volatility is the severity and the frequency with ...
Fitch Ratings has assigned the Ceylon Income Fund an ‘A-(lka)’ National Fund Credit Rating. This is the first fund rating assigned by an international rating agency in Sri Lanka. The fund primarily invests in corporate debt instruments and is managed by Ceylon Asset Management (CAM). The ‘A-(lka)’ National Fund Credit Rating is driven by the ...
Niru Lanka (Pvt) Ltd. opened its new office at Access Towers, Union Place last Thursday, which will handle sorting and grading of diamonds and dispatching orders for customers of prestigious Niru Diamonds Ltd., Israel. The office was declared open by Gem and Jewellery Authority of Sri Lanka Chairman Prasad Galhena and the event was attended ...
Reuters: A deeply divided and unproductive Congress wrapped up its final business before November’s elections early on Saturday as the US Senate passed a stopgap measure to fund federal programs and avoid an 1 government shutdown. The 62-30 vote on the funding bill, which now moves to President Barack Obama’s desk to be signed into ...
Leaving nobody out in the cold In India, the Rangarajan Committee on Financial Inclusion defined the concept as: “The process of ensuring access to financial services, timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups, at an affordable cost.” At the recent FutureGov SAARC Summit in Colombo, ...
Previously observed proceedings of Sri Lanka’s Fonseka and Malaysia’s Anwar Ibrahim Here to observe proceedings re Rishad Bathiudeen M.P. Acted as Counsel on world’s longest sea chase incident FV Viarsa 1 The Inter Parliamentary Union (IPU) observer, Australian Queen’s Counsel Mark Trowell has arrived in Sri Lanka today morning. “I am here on behalf ...
$ 450 m mega project to be completed in 2014 By Uditha Jayasinghe The Government has leased the iconic Transworks House land to India’s Krrish Group for 99 years at $ 49 million, whilst the $ 450 million mega project is slated to be completed by 2014. The land encompasses the Transworks House, a colonial ...
Saskia Fernando Gallery and Breese Little Gallery will host a dual exhibition of drawings by Chandraguptha Thenuwara and Jagath Weerasinghe, staged simultaneously in London and Colombo during the next couple of weeks. Titled ‘Drawings’ the exhibitions will present Thenuwara and Weerasinghe’s negotiations of this medium, investigating drawing as a site to negotiate boundaries, pol...
Khaleej Times: Sri Lankan efforts to increase its export of skilled workers to the UAE were the topic of discussion in a gathering of diplomatic officials at an overseas employment promotion seminar held on 13 September. At the event, officials addressed local recruiters and employers on the procedures and benefits associated with hiring workers from ...
The Central Bank of Sri Lanka (CBSL) recently provided a Technical Assistance (TA) to the Maldives Monetary Authority (MMA) aimed at developing foreign reserves management skills of the Maldivian Central Bank. This program helped to build MMA’s institutional capacity to formulate foreign reserves management policies and procedures and to manage its foreign reserves so as ...
The Sri Lankan Government is making serious efforts in rehabilitation of former Tamil Tiger combatants, their reintegration into society and reconciliation with the minority, a high ranking Russian Government official said. Konstantin Dolgov, Russian Foreign Ministry Commissioner for Human Rights, Democracy and the Rule of Law, and Ambassador-at-Large, said the situation in terms of human ...
The Central Bank (CB) yesterday in a statement issued new directives on foreign exchange activities that broadly cover market practices and ethical standards. The bank, with the view to further improve the standard of business conduct and good market practices for the effective and efficient functioning of the foreign exchange trading activities in Sri Lanka, ...
In a move to guide the young executives and school leavers on unlimited opportunities, a career guidance forum titled ‘103 Top Global Qualifications; One Free Seminar’ will be held on 22 September at 9 a.m. at RCU Skills Centre, Royal College, Colombo 7. The free half-a-day seminar is organised by CICRA Holdings as part of ...
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
Issue oversubscribed by two times, says Central Bank The Central Bank has had its latest issue of Sri Lanka Development Bonds oversubscribed by two times, bringing the total bid to US$ 121.05 million, the monetary institution said in a statement. The Central Bank of Sri Lanka, on behalf of the Government of Sri Lanka, ...
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
The exchange of goods and services has been around for as long as civilisations themselves, if not longer. Humans, being extremely adaptive to their environments, have always found ways to utilise resources and build surplus. This surplus was then used to trade in order to obtain resources and goods that weren’t abundantly available. Evolution of ...
The festival of creativity – Spikes Asia 2012 in Singapore during its first two days showcased key insights on winning and creative ideas in the marketing communications sphere by a host of global and regional experts. Attended by nearly 1,800 creative industry professionals and students from 27 countries including nearly 20 from Sri Lanka, the ...