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Nations Trust Bank (NTB) is tapping overseas markets to raise funds to boost lending to its clients. NTB said on Wednesday that it is in discussion with at least three parties to raise between US$ 30 and $ 35 million from overseas lenders before the year’s end. Deputy CEO and CEO-designate Renuka Fernando told NTB’s ...
After a steady even par opening round yesterday, local Sri Lankan star Mithun Perera came roaring up the score-board in the second round of The Standard Chartered Open 2012 with an eight under par ‘bogey free’ 63. He lies two shots off the lead which is jointly held by Abhijit Chadha, the overnight leader who ...
Point of view By a market participant The investors were compelled to wait nearly 17 years to reap the benefit of a real bull run in 2009 after the elimination of the LTTE terrorism and how the SEC destroyed it within a one-and-a-half year period due to ill conceived, irresponsible decisions is well known and ...
Their share in GDP may be shrinking but people in the Western Province got richer last year, whilst the post-war rebounding north clocked the highest growth in nominal terms. The per capita income of the Western Province amounted to Rs. 491,000 in 2011, up by near 15% from Rs. 428,000 whilst its overall GDP grew ...
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 of macro factors make ...
Ever since the first aircraft was conceptualised by Leonardo Da Vinci, the dream of flight is still continuously evolving. The latest aircraft is known as the dream liner Boeing 787. There has been no end to the technological advances in aviation. The global aviation industry has since been enlarged into a multibillion dollar business and ...
The 18th Annual General Meeting of the Sri Lanka-Malaysia Business Council was held at the Ceylon Chamber of Commerce recently. The council, which focuses on the objectives of ‘promoting investment, trade and joint ventures between Sri Lanka and Malaysia,’ functions under the aegis of the Ceylon Chamber of Commerce. High Commissioner for Malaysia in Sri ...
Mount Lavinia Hotel has always been a catalyst to take steps of changing landscape with its own set of new challenges. Now it envisages empowerment and enhancement of Hospitality Education and Training within the country and in the region also. Mount Lavinia Hotel has branched out into Maldives with the opening of its sister hotel ...
Playing off India against China and vice versa‘The Great Game’ was the name given to a diplomatic and military tussle between the British and Russian empires during the time of the British Raj in India for influence over what constitutes today’s central Asian states. Commonly known as the ‘Stan states,’ they were located along the ...
Diversified blue chip Aitken Spence Plc has reported a pre-tax profit of Rs. 918 million for the first quarter, a growth of 25%, over the previous year, while the Group’s revenue rose by 54% to Rs. 8.61 billion. Earnings per share for the quarter stood at Rs. 1.58, an increase of 16% over the corresponding ...
Saffron Aviation Ltd., a joint venture between John Keells Holdings PLC (JKH), MMBL Leisure Holdings Ltd., and Phoenix Ventures Ltd., yesterday signed an agreement with the Board of Investment (BOI) to establish a domestic air taxi service in Sri Lanka with an initial investment of $ 6.8 million out of a total planned investment of ...
Biggest contingent of top Indian corporate leaders in town for the first ever bilateral CEOs Forum and other events as mega India Show kicks off today with Commerce Minister Sharma as Chief Guest By Nisthar Cassim Indian business leaders are rushing to Sri Lanka as the giant neighbour kicks off today what can be described ...
The Sri Lanka-Pakistan Business Council held its 19th Annual General Meeting recently. The council was established in 1991 under the aegis of the Ceylon Chamber of Commerce with a view to promote trade, investment, tourism and services between the two countries. Merchant Lanka Ltd. Managing Director Rohitha Thilakaratne was elected as the President of SLPBC ...
Economic Development Minister Basil Rajapaksa recently hailed the substantial support for socio-economic development in Sri Lanka from Finland. This was emphasised when Finland’s outgoing Ambassador to Sri Lanka Terhi Hakala paid a courtesy call on Minister Rajapaksa. “Finland has generously assisted Sri Lanka over the years in country’s economic and social development drive. It ...
Minister of Commerce, Industry and Textiles of India Anand Sharma will visit Sri Lanka from 2-5 August 2012, coinciding with the prestigious ‘India Show – Land of Limitless Opportunities’ being organised by the Confederation of Indian Industry (CII) in partnership with the Ceylon Chamber of Commerce from 3-5 August 2012 at the BMICH, Colombo. ‘India Show’ ...
The Central Bank said that inflows continued to improve in May, with better prospects in July as well. It said with respect to inflows to the services account of the balance of payments, earnings from tourism in May 2012 grew at a healthy rate of 20.6%, year-on-year, to $ 57 million, while during the first ...
With the opening dates of terminals in the Colombo South Harbour Project in Sri Lanka and Deep Water Container Port in Pakistan now set as 2013 and 2014 respectively, port development in the South Asian region is about to enter another era. When completed, the new deep sea ports in Karachi and Colombo will have ...
One hundred and twenty golf pros are set to tee off in Sri Lanka next month at the major professional tour – The Standard Chartered Open 2012. The four day tournament which will debut in Sri Lanka and be held from 15 to 18 August at The Royal Colombo Golf Club, is an event sanctioned ...
British HC commends Sri Lanka for progress made over the years By Cheranka Mendis Ceylon Chamber of Commerce Chairman Susantha Ratnayake yesterday called for a new wave of reforms if the country were to come out of current shocks quickly with the least amount of pain. In his address at the chamber’s 173rd Annual General Meeting, ...
The Graduation Ceremony and Membership Investiture of The Chartered Institute of Marketing (CIM), Sri Lanka Region was held on Friday 20 July at Waters Edge, Battaramulla. University of Moratuwa Senior Professor Civil Engineering, Malik Ranasinghe was the Chief Guest, while CIM UK Director of Education Anita Stubbs graced the occasion as Guest of Honour. CIM ...
Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets are well aware of the risk-return tradeoff intrinsic to these markets. Low ...
An important feature of the recent Sri Lanka Economic Summit, which both the Guest Speaker Gurcharan Das, Author, Columnist and Management Consultant and Keynote Speaker Dr. Kalpana Kochar, Chief Economist – South Asia of the World Bank, referred to were the opportunities presented to Sri Lanka by the ongoing process of globalisation and particularly the ...
By B.A.B. Goonetilleke Sometime in 2009, in what was to become a defining moment in the new Digital Age, Bradley Manning, a 24-year-old Army private based at an outpost in Iraq, began to download a veritable trove of classified cables dispatched by US missions around the world on to a thumb drive. Whether Manning stepped ...
Reuters: Sri Lanka now expects 2012 tea production of around 325 million kg, below its target of 330 million kg, as output has fallen in the last five months due to drought, the State-run Tea Board said. Tea production in the first half of the year fell 4.3 per cent year-on-year to 163.26 million kg ...
A port city is an extension to the port, in order to acquire the advantageous facilities of the port and the port background to shape up the environment of the city surrounded by port. This is not a novel concept where many countries are adapting this principle to achieve their economic and leisure goals. Baltimore ...
Heads turning attraction! Biggest sporting event in post-war Sri Lanka aims to boost future cricket talent at provinces; leisure and entertainment industry to get a fillip 21-day contest from 10 August involving local and global stars to be promoted as “village, country and the world” coming together as one to celebrate Sri Lanka’s passion MCC ...
Wimbledon is special to me not because I played the tennis circuit during my schooling days but for the insights that I get into life and business in general. The 2012 edition in particular was unique, given that a Brit was in the finals of the men’s singles game, that was happening after 74 years. ...
Standard Chartered Bank has revised Sri Lanka’s credit outlook to stable from positive and is advising bond investors to await the conclusion of Sri Lanka’s $ 1 billion Sovereign issue prior to getting involved in the country’s debt market opportunities. This advise is contained in SCB’s latest Asian sovereign credit coverage. “While we believe that ...
Laugfs Gas PLC and its subsidiaries having recorded a profit after Tax of Rs. 942 million as per the un-audited financial statements for the year ended 31 March 2012, yesterday announced a payment of first and final dividend of Rs. 1.50 per share for both Ordinary Voting and Non- Voting shares held. Chairman Laugfs Gas ...
By Cassandra Mascarenhas The third and final day of the Sri Lanka Economic Summit 2012 organised by the Ceylon Chamber of Commerce commenced with a plenary session titled ‘Skills and Productivity to Compete in the Global Market,’ which discussed the initiatives that are underway and aimed to identify additional steps required to improve the quality ...