From war and destruction to peace and reconstruction Both before and following the end of Sri Lanka’s 30-year separatist war in May 2009, it was recognised that rapid economic recovery in the Northern Province would be the key to lasting reintegration and reconciliation within a united country. Nearing the two-and-a-half-year point since the cessation of ...

It is the season for giving, which we all know is a reason to look beyond ourselves and find some worthy cause to take up for Christmas. Everyone is familiar with the warmth connected with giving and the quiet pleasure in ensuring that someone else has a happy time as well. It can be something ...

After bringing down the nearly-25-year-old civil war, Sri Lanka is now working towards improving its investment climate. The economy is now in a high-accelerating mode, on the back of the political will and stability in the new era. India will play a big role in this development and will be a key partner for Sri ...

Reuters: Sri Lanka’s Central Bank can continue to maintain the rupee exchange by selling dollars from the foreign reserves as it expects large dollar inflows in the coming months, the Central Bank Governor said on Tuesday. The rupee was devalued three per cent on 22 November, a day after President Mahinda Rajapaksa in his capacity ...

Range of sectors discussed for investments during meeting between Qatar Premier and Economic Development Minister Basil Rajapaksa Range of sectors discussed for investments during meeting between Qatar Premier and Economic Development Minister Basil Rajapaksa (strap) Sheikh Hamad Bin Jassim Bin Jabr Al-Thani, Prime Minister and Minister of Foreign Affairs in Qatar   together with Yousf K...

International Consultants Chairman Ranjiv Goonawardena had kindly invited the Sri Lanka Tourism Promotion Bureau to participate by showcasing the great opportunity that Sri Lanka has to offer, at the Islamic Real Estate Finance (IREF) Summit and Gala Dinner Awards Ceremony of which it was a sponsor. International Consultants sponsored for the second year the ninth ...

Around 100 attend New World Securities event; Ambassador Karannagoda and Lankan  firms highlight post-war rebound and potential Nisthar Cassim reporting from Tokyo December 8: Around 100 Japanese firms and investors today got a thorough update on post-war Sri Lanka’s rebound and unprecedented opportunities at an Investment Forum organised in Tokyo by New World Securities. Held ...

Defining public diplomacy Public Diplomacy (PD) is a relatively new term in international relations and is designed to influence foreign audiences. PD is being vigorously promoted and pursued by many countries owing to recent developments in communications technologies. PD came into prominence with the founding of the Fletcher School of Law & Diplomacy at the ...

DUBAI (Reuters): Dubai, which narrowly averted a bond default in 2009, could use money raised by its sovereign wealth fund to help repay $3.8 billion in bonds owed by state-linked firms which mature next year, a source familiar with the matter said on Tuesday. The Gulf Arab emirate has clawed its way back from the ...

CIMB and the Colombo Stock Exchange jointly concluded a Sri Lanka Corporate Day in Kuala Lumpur, Malaysia on 30 November 2011, themed ‘Invest Sri Lanka: Opportunities in a New Era’. This conference aim was to provide a snapshot of what lies ahead for the Sri Lankan economy and why Sri Lanka is one of the ...

SRI Lanka’s main opposition has been in crisis for a long time. So long that many people have given up hope of seeing the party rejuvenated. The announcement of United National Party Co-Deputy Leader Karu Jayasuriya as a candidate for the upcoming leadership battle has finally perked up the public with high expectations of seeing ...

Last week my phone beeped and the text message read ‘The Chairperson of the Security and Exchange Commission Indrani Sugathadasa had resigned citing reasons of values and principles for her resignation’. My mind went back to the time when this lady when she was the Board Director at EDB. Whenever tough decisions had be taken ...

The following report is based on the speech Economic Development Minister Basil Rajapaksa made, concluding the debate on the second reading of the Budget for the year 2012. This is the seventh budget presented by the Government of President Mahinda Rajapaksa I regret there was no constructive criticism at all during the debate on the ...

The International Air Transport Association (IATA) last week announced global traffic results for October. Cargo demand was 4.7% below the same month in 2010 while passenger traffic showed a 3.6% rise over previous year levels. “Cargo is the story of the month. Since mid-year the market has shrunk by almost 5% and this is far ...

By Cheranka Mendis Sunquick Sri Lanka, the much loved super concentrated fruit quash will today bring home the prestigious Co-Ro Best country award also known as the Global Sunquick best awards. The award is an annual presentation by the brand owners of Sunquick, Co-Ro Food A/S, a Danish Company awarded for the country that marks ...

IN 2010, the boost for Sri Lanka tourism was being named the top travel destination by the New York Times. As the dawn of 2012 emerges the plus point is being among the top six of National Geographic’s best global destinations. Upbeat on tourism, the Government is considering a target of 950,000 arrivals for 2012 ...

MUSCAT (Reuters): A record number of visitors flocked to Oman during the first two months of the holiday season as political tumult in the wider region sent tourists to the usually quiet Gulf Arab sultanate, tourism operators say. Figures from the ministry of tourism show Oman received 220,000 tourists in October and November this year, ...

By Uditha Jayasinghe Global hotel giant Sheraton has received Cabinet approval to invest US$ 300 million in Sri Lanka, on a venture that will stand on land made famous in the China National Technical Import and Export Corporation (CATIC) deal. ITC Limited of India is a franchise holder of Sheraton Group of USA and the ...

Consul General of Sri Lanka in Dubai, Abdul Raheem met with Director General Hamad Buamain and Dubai Chamber of Commerce Director, External Relations Hassan Al Hashemi at their Head Quarters to discuss mutual trade interests between UAE and Sri Lanka and also brief them about forthcoming mega trade event ‘Expo 2012’ to be held in ...

FRANKFURT (Reuters): Uncertainties caused by the euro zone debt crisis and a stuttering global economy could hit spending next year on holidays by Germans, the world’s top spenders on trips abroad, a German travel association said. “Our market researchers forecast moderate market growth of between two and three per cent,” the DRV said on Thursday. ...

This is the week of Budget bashing for some and for others it is the week for inventing cute ways to meet the bashes. As is usual for most, it is looking at this all in the ‘what’s in it for me?’ mode. For some, it is also about ‘who said what’ and not ‘what’s ...

Arabian Travel Market (ATM) and the World Tourism Organisation (UNWTO) have revealed that Middle East tourism ministers will come together at ATM 2012 for a special session that will focus on driving the region’s tourism agenda. The meeting which will take place for the first time is scheduled to take place from 30 April to ...

President Mahinda Rajapaksa presents development-oriented fiscal programme for 2012 and medium-term policy framework with support for almost all key segments of society and economy In their initial takes, overall welcome tone from private sector, though a few express concerns on select proposals President and Finance Minister Mahinda Rajapaksa yesterday presented what the Government described as ....

If we look at the corporate sector performance of 2010/11, the results of the listed companies was outstanding, with revenue growing by 184% and profits growing by a 418%, whilst the cash in the bank is at Rs. 168 billion, which incidentally is higher than the FDI target set for Sri Lanka of 1.5 billion ...

BANGKOK (Reuters): Thailand’s worst floods in 50 years have hit tourism at the start of the high season, but the country has recovered quickly in the recent past from all sorts of scourges and some tour operators are hopeful a recovery might start next month. Floodwater in some areas of the capital, Bangkok, and other ...

Underutilisation, underperformance, acquisitionThere is a story about Sir Winston Churchill. When an Opposition Member of Parliament, he was using the urinal in the House of Commons gentleman’s restroom, when a Minister in the Labour Party Government (which was in the midst of a spate of nationalisation of British industry) walked in and stood at the ...

Having being involved actively in the last seven years of Sri Lanka’s economic development agenda, the last two years in particular have been dramatic in nature. Private sector thinking has now come into the public sector which is interesting but needs to be careful managed so that we do not lose the democratic spirit of ...

MADRID, (Reuters):Spain’s economy stopped growing in the third quarter, calling into question the government’s ability to achieve its deficit reduction target for 2011 and pushing the euro zone’s fourth largest economy to the brink of recession. Austerity measures implemented to help Spain bring its deficit within European Union limits and retain the confidence of financial ...

By Chamitha Kuruppu The Janatha Vimukthi Peramuna claims spending Rs. 265 billion on an 11-day extravaganza is intolerable for an economically ailing country like Sri Lanka. Addressing a media briefing the JVP warned that the aftermath of hosting the 2018 Commonwealth Games would not be rosy as the Rajapaksa administration predicts According to JVP Propaganda ...

This was written upon following recent events that unfolded in our midst which made one wonder if we adequately managed our natural assets at our national parks and protected areas… many lovers of nature and concerned persons presented varied views in the print and e- media. On the global front we also observe the intensified ...