THE South Asian Association for Regional Cooperation better known as SAARC has had a dubious record for talking much and doing little. While other trade and political organisations in the world, such as the European Union, leaped ahead to promote cooperation between their member countries, SAARC has been mired for decades in mistrust. So what ...

By Sanath Weerasuriya in London The curtain rises at the World Travel Mart in London yesterday with a new hope for Sri Lanka Tourism to go beyond its target of 800,000 tourist arrivals to the country by the end of this year. The business for the Sri Lanka Tourism at the modern architecturally designed Sri ...

By Sanath Weerasuriya in London Sri Lanka Tourism participating this years’ World Travel Mart (WTM) in London to promote Sri Lanka to new markets apart from the traditional West European segment. WTM 2011 will showcase Sri Lanka as ‘Miracle of Asia’ and  focus Sri Lanka as a destination offers unrivaled variety with 100 waterfalls, 17 ...

Banks says economy didn’t grow in third quarter from second Says year-on-year growth eased to 0.7% Risks to Spain’s fiscal deficit target; onus on new govt Official data invariably match Bank of Spain figures MADRID (Reuters): Spain’s already lacklustre economy likely stagnated in the third quarter with domestic demand slumping, posing a threat to budget ...

Expolanka Holdings PLC said yesterday it has sustained its consolidated NPAT for the first half of FY 2011/12 at Rs. 668 m, with a consolidated NPBT at Rs. 862 m. These results have been achieved against the backdrop of the many challenges faced by the Group in the international trading sector with its global economic ...

Sri Lanka’s economic progress gained acknowledgement when the World Bank on Thursday announced that Sri Lanka was the most business friendly country in South Asia. Yet the journey still looms long on several points. A new report from IFC and World Bank finds that the reforms implemented by Sri Lanka have helped create a much ...

The Pacific Asia Travel Association (PATA) is making a new commitment to help its members engage emerging markets, make better use of technology, bounce back from crises, and fight taxes and regulations that hurt the travel industry. The new agenda builds on the association’s general new commitment to “build the business” for members. The new ...

BANGKOK (AFP): Thailand’s worst floods in decades have jolted a global supply chain already straining under the impact of Japan’s tsunami, as deluged factories threaten some of the kingdom’s key export industries. The floods have killed about 300 people, damaged one-tenth of Thailand’s rice paddy and made major roads north of Bangkok impassable. Toyota, Ford, ...

Viet Nam President promises full support, encourages investment in tourism, textile, agriculture, says consistent policies key to FDI By Uditha Jayasinghe Sealing Sri Lankan and Viet Nam ties, the Presidents of the two countries yesterday witnessed the signing of eight  agreements, including one on oil and gas exploration. Speaking at the Sri Lanka-Viet Nam Business ...

Arguably the world’s most powerful leader, Barak Obama, underscored that the Eurozone crisis is “scaring the world”. It comes as no surprise then that his Treasury Secretary Tim Geithner heads the international clamour for more action to solve the burgeoning sovereign debt problem that has dominated financial markets in recent times. George Osborne, Britain’s current ...

The Pacific Asia Travel Association (PATA) has signed a memorandum of understanding with Chengdu Culture and Tourism Development Group to strengthen cooperation in the development of tourism training, and in co-branding a seminar on global tourism trends and destination marketing. The MoU was signed by Bill Calderwood, PATA Interim CEO and Dai Zhen, Vice General ...

Much media coverage is given to the tourism development promotional strategies that are intended to be carried out in the immediate future in order to increase revenue from tourism. Is the same coverage given to export promotion strategies which are equally important?There is no doubt about the ambitious plans to increase exports from Sri Lanka. ...

I like to be an optimist. No matter what may happen around us, I would like to retain feelings of hope I have for all human-kind and on a more intimate level for you, for me, the newborn and the to-be-born. Yet, what has already happened around me, happening now and may happen in the ...

Deputy Minister of Technology and Research Faizer Mustapha shares his thoughts on development, minority and an expected win: Q: What are your thoughts on the upcoming elections? A: I think it is clear that the win is in the hands of the UPFA, which would place Milinda Moragoda as the Mayor of Colombo. This victory ...

In the latest figures available, the Pacific Asia Travel Association (PATA) last week reported that the preliminary figures for international visitor arrivals into Asia/Pacific destinations1 for July 2011 show a year-on-year increase of 7%. Director of the PATA Strategic Intelligence Centre John Koldowski PATA’s Strategic Intelligence Centre notes that the growth rate has become more ...

Economic Development Minister Basil Rajapaksa met a high level business delegation led by Kuniyo Takahashi, Japanese ambassador in Sri Lanka with a view to reviewing the progress made by the Japanese investors already operating in Sri Lanka and promoting further investment from Japan. This meeting was the third in a series of interactions that the ...

More inflows into service, capital, financial accounts, says CB Rupee was under pressure due to heavy imports in Aug., Sept. Currency dealers wary on rupee stability By Shihar Aneez Reuters: Pressure on Sri Lanka’s rupee currency will recede in coming months due to increasing inflows into the country’s service, capital and financial accounts, the Central ...

Sri Lanka Ports Authority (SLPA) Chairman Dr. Priyath B. Wickrama made an exclusive presentation at the International Port Security Conference in the Netherlands on 28 September 2011. Expressing views delivering the keynote address at the International Port Security 2011 conference on the subject of the past successes of securing Sri Lankan ports and the predicted ...

Introduction Growth has stalled in the global economy. Stock markets have plummeted. Risk appetite has declined and there has been a flow of resources to safe havens. The IMF has stated that the world economy has entered its most dangerous phase since the financial crisis of 2008. The ammunition available to policymakers is much reduced ...

The World Tourism Day was celebrated in grand style at a special ceremony held in Colombo yesterday with the participation of all stake holders related to travel and tourism industry. The main event took place at the tourism zone near Beira Lake, called “Road to Paradise” with the participation of Minister Basil Rajapaksa – the ...

Justice and fair-play is paramount Justice and fair-play are of paramount importance to all members of the world family consisting of 193 nations expecting justice and fair-play equally. It is the principle on which the United Nations was established in place of the less-effective League of Nations, in order to settle differences among nations based ...

Reuters: TUI Travel, Europe’s biggest tour operator, is on track to meet full-year profit expectations due to strong late summer bookings although it has yet to see a revival in demand for holidays in Egypt and Tunisia, its CEO said. “We are anticipating a slow recovery in trading to Egypt and Tunisia and have managed ...

In its march towards development, Sri Lanka is still seeking the assistance of bilateral and multilateral organisations as well as greater input from foreign investors, Governor of the World Bank Group and International Monetary Fund for Sri Lanka, Senior Minister for International Monetary Cooperation Dr. Sarath Amunugama said in a statement to the IMF. Given ...

Gives comprehensive address highlighting issues of developing countries Shoots down discriminatory practices by developed countries Outlines post-war development, reiterates stance against terrorism Backs Palestine, Cuba and Africa By Nisthar Cassim in New York In his much-anticipated address to the UN, President Mahinda Rajapaksa yesterday took a comprehensive local, regional and world view, with...

Following is the full speech delivered by President Mahinda Rajapaksa at the sixty-sixth Session of the General Assembly:Mr. President of the sixty-sixth Session of the General Assembly, Excellencies, Ladies and Gentlemen, it is with great pleasure that I congratulate Your Excellency Nassir Abdul Aziz Al-Nasser on your assumption of the Presidency. I must also congratulate ...

YINCHUAN, China (AFP): As European and US economies falter, China is making a trade push with the Arab world, where businessmen say recent political changes will further open up the region to investment. A major Sino-Arab trade forum is currently under way in the northern region of Ningxia, where politicians from the Maghreb and Middle ...

By Nisthar Cassim in New York President Mahinda Rajapaksa who is having a busy schedule in New York will address the United Nations 66th General Assembly today (September 23). His speech is being eagerly looked forward to whilst the UN sessions by global leaders which began on Wednesday have been largely focusing on the Middle ...

With the World Bank announcing that the world economy is teetering on “a new danger zone,” it is of paramount importance for governments and financial power-houses to restore confidence through concrete policies and systematic financial planning. This is the order of the day, given the recent pessimistic report on the world economy delivered by Morgan ...

Economic Development Minister Basil Rajapaksa met high level business delegations led by the French Ambassador and the British High Commissioner in Sri Lanka respectively with a view to promoting investments from France and the United Kingdom. Addressing the business community that included some of the leading enterprises in the fields of insurance, garments, tourism and ...

EXPATRIATE Sri Lankans on international assignments often cite several reasons for leaving the home country. Generally, factors such as wages, employment, professional development, children’s education, socioeconomic and political conditions drive skilled people to migrate. The priority given to each issue typically depends firstly on the skill and profession of the migrant and secondly on h...