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Although the Asian region is better prepared for economic turmoil than it was a decade ago, high levels of financial, trade and investment integration with the Western economies ensure that no country is immune to the effects of the Eurozone debt crisis. While most of the European Union (EU) economies struggle to design new austerity measures to ...
Half my life I have been a guy who’s a sandwich shy of a picnic. The other half has been one big picnic. It mutates life into one phenomenal contradiction. An ad man of the Pimpernel mould, shy of the cocktail circuit, has to be a first in the showbiz of the biz world. But ...
World-famous Amanresorts Chairman Adrian Zecha has expressed his bullishness in post-war rebound in Sri Lanka’s tourism, which has encouraged him to explore fresh opportunities for expansion. “The post-conflict economic development process is visible everywhere in Sri Lanka. Our resorts in Sri Lanka were not economically viable during the pre-conflict period. But thanks to the peace, ....
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,” ...
Reuters: Chinese university teacher Zhu Haibin wept softly as she and other Communist Party cadres stood in rows before a mass grave of Communist fighters in southern China. Ignoring light drizzle, the group listened to a party instructor tell the story of Zhang Longxiu, a “hero mother” from the early days of China’s Communist revolution ...
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 ...
The Embassy of Sri Lanka in Tokyo organised a high profile “Sri Lanka Promotional Seminar” consisting of over 150 officials and personnel engaged in the sphere of tourism and travel trade, leaders of corporates and industry of Japan, senior bureaucrats and technocrats of the Government of Japan and select invitees. The said Seminar was held ...
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 ...
$ 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 ...
Renowned as the best wayside pit stop in restaurant culture, Wayamba Café Forest in Kurunegala will go Vegas style in signage and in the services offered at the restaurant on the upper floor and pastry corner on the ground floor, with a the multi flavoured ice cream parlour as an added facility. Ever since their ...
Ever been to Hotel de Same Place? If you find it hard to believe, here’s the address: No. 83 & 85, Malay Street, Colombo 2. The esoteric roadside eatery’s venturesome owner says that he so named the hotel fearing that patrons may deem otherwise. “I wanted to assure my customers that my hotel will remain ...
The Asian Development Bank (ADB) is concentrating on developing nine sectors including infrastructure in Sri Lanka and the far eastern region including Vietnam, Cambodia and Laos to foster economic development. “Asian Development Bank has assisted sub regional economic cooperation in the Greater Mekong Sub region (GMS) to enhance their economic relations, covering nine priority ...
Emirates, one of the fastest growing airlines in the world, has launched its daily non-stop service from Dubai to Washington Dulles International Airport (IAD). It is the seventh gateway for Emirates in the United States, and the twelfth new route to join the airline’s international network in 2012. “Emirates offers important new choice, competition and ...
Currently discussing new courses with local and international universities By Cheranka Mendis The training arm of SriLankan Airlines, International Aviation Academy (IAA), is on an aggressive expansion plan, launching its services overseas while concentrating on capacity development and local youth engagement to the industry. IAA, which provides International Airline Training Association (IA...
Singapore, Hong Kong and Sydney have the strongest brand perception among major cities across Asia-Pacific, according to a new study by Ogilvy Public Relations and PublicAffairsAsia. Those cities were followed in descending order by Tokyo, Melbourne, Shanghai, Seoul, Osaka, Bangkok, Beijing, Kuala Lumpur, Ho Chi Minh, Mumbai, Delhi, Jakarta and Manila. A total of 300 ...
It was well past the graveyard shift, but I had to get to Minister Mervyn Silva. Evil-doers had cast a fiendish spell and he had just promulgated his impending suicide. His has been a monumental crusade for the oppressed, goats including. I raced towards Kelaniya. Just then the phone rang. His young son Malaka had, ...
The Central Bank yesterday said earnings from tourism and workers’ remittances continued to hold up, cushioning the current account of the Balance of Payments (BOP). It said earnings from tourism in July 2012 grew by 23.6%, year-on-year, to $ 100 million, while during the first seven months of 2012, earnings from tourism have grown at ...
In the last 15 years, the major hospitals invested over Rs. 50 billion by way of total expenditure to increase capacity building within the private healthcare sector by investing in necessary infrastructure, cutting edge technology and continuous development in human capital in the clinical discipline. The centres have created several hundreds of employment opportunities with ...
Reflecting his bullishness on post-war rebound in tourism, former Delmege Chairman Ricky Mendis yesterday bought an 8% stake in Serendib Hotels Plc for around Rs. 142 million from Royal Ceramics Plc and its high net worth investor Managing Director Nimal Perera. In total 6.7 million shares of Serendib Hotels transacted via 312 trades for Rs. ...
Madurai: The Tamil Nadu Chamber of Commerce and Industry (TNCCI) in Madurai has urged the Indian government to check the attack on visiting Sri Lankan pilgrims since the travel advisory issued by Sri Lanka will seriously affect the tourism and trade to the state. The TNCCI in a statement pointed out that India-Sri Lanka trade ...
Around 1,000 delegates in town for Commonwealth Parliamentary Conference and connected activities this week The entire Common-wealth is literally here as Sri Lanka plays host to the grouping’s annual gathering of Parliamentarians – this week, giving the country an excellent opportunity to be assessed firsthand as well as lift its profile globally. The 58th Annual ...
Emirates contributed $1.15 b as Foreign Exchange Earnings to the economy Emirates operations support 72,323 jobs in India Expansion of an efficient civil aviation sector is important for India as it becomes increasingly linked to global commerce and tourism. The National Council of Applied Economic Research (NCAER) undertook a study on the economic impact of ...
MADURAI: Even as the attack on Sri Lankan tourists in Thanjavur two days back came in for widespread condemnation, a group of cadres of Naam Tamilar Katchi staged a protest in front of a private hotel in Madurai on Thursday alleging that Sri Lankans were employed there in large numbers. The protestors also attempted to ...
A goat’s best friend is Mervyn! The populace has been cruel to him. Ok, to the goat too, but I am talking about a man willing to be incarcerated just to liberate a hapless animal. Thankfully, the President interceded and saved the day for both. The Minister had promised to defy a Court order and ...
By Cassandra Mascarenhas Sri Lanka’s biggest ICT events of 2012, the ASOCIO international conference and the country’s national IT expo INFOTEL, will be held consecutively portraying the country’s persistent ICT development and the significance of the rapidly expanding industry. Hosted by the Federation of Information Technology Industry (FITIS), the Asian-Oceanian Computi...
The impact of the tourism boom enjoyed by the country after the end of the conflict had spread to the other sectors, resulting in a big increase in production and services. The internal conflict that prevailed in the country for 30 years ended in May 2009 and tourist arrivals increased in an unprecedented manner since ...
Commending the considerable role played by Sri Lanka Missions overseas in the field of promoting Tourism, the Sri Lanka Tourism took steps to create a new category of tourism awards for Sri Lanka Missions in promoting Tourism for the year 2011, among its newly introduced 21 award categories. Accordingly, the Sri Lankan Embassies in Russia, ...
According to figures collected by PATA, international visitor arrivals into Asia Pacific destinations during May 2012 show a collective gain of 3% year-on-year. This is the second consecutive month with a declining growth rate. For the first five months of 2012, the average growth in international visitor arrivals into Asia Pacific destinations was 6% up ...
Strongest ever SA biz delegation to Sri Lanka in bilateral history Among investments sought here are urban property and shopping malls ‘Will strongly boost bilateral trade levels beyond $ 65 million’ – Rishad Former Deputy Foreign Minister Schoeman in the delegation The biggest -and most powerful- South African business delegation ever to arrive in Sri ...
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 ...