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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 ...
SriLankan Airlines established its presence in the most bustling district of the Southern Province, Hambantota, with the opening of a new sales office on Friday, 21 September. The branch office will facilitate travel formalities to a large clientele in the south-eastern coast area. The modern facility is equipped to handle reservations, ticketing, Prepaid Ticket Advices ...
Access Engineering PLC, the leading value engineering solutions provider in Sri Lanka, was selected by China Harbour Engineering Company Ltd. to partake in one of the country’s most exhilarating infrastructure projects, the new International Airport at Mattala, Hambantota. Funded by the Government of the Peoples Republic of China, construction of the Hambantota International Airport is ...
The International Air Transport Association (IATA) last week announced global traffic results for July showing slower growth in both air travel and freight, but with considerable variation by region and market. n July passenger demand in aggregate was 3.4% higher than the same month last year, compared to a 6.3% increase in June and average ...
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 ...
The Sri Lanka Institute of Marketing (SLIM) together with the Bucks University featured the 2012 award winners from Singapore of global business associations and chief marketing officers under the theme ‘Is The Party Over?’ at Galadari Hotel, where a select audience of 200 business and marketers attended the event. Some of the key points discussed ...
By Marianne David and Cheranka Mendis Sri Lanka Tourism yesterday told the Daily FT that the Department of Wildlife would set up a meeting with both the Tissamaharama Jeep Association and the officials of the three tented mobile safari operators in order to arrive at “an amicable settlement,” following the recent assaults on the operators ...
Brand Finance’s Annual Global Nation Brand Analysis Prologue Over the past three years, nation branding has received an enormous amount of coverage in Sri Lankan newspapers. Whilst some of these are based on the need to provide a marketing approach to building a nation, and its brand; many of the articles focus on developing a ...
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 ...
Mulls PPP model for new initiative Sri Lanka’s entry into the hydrogen fuel era is to be kicked-off in October. And adoption of PPP model is being mulled. “The forthcoming Hydrogen and Renewable Energy conference in Colombo to be held in October is also the first step in formulating Sri Lanka’s hydrogen road-map. Our second ...
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 ...
Following is the full text of Secretary to Ministry of Finance and Planning and Ministry of Economic Development Dr. P.B. Jayasundera’s keynote address titled ‘Sri Lankan Economy in Perspective’ at first plenary session of the Ceylon Chamber of Commerce Sri Lanka Economic Summit yesterday under the theme ‘Positioning Sri Lanka in the Global Economy’ Chairman, ...
Case study Middle East Sri Lanka is one of the most sought-after tourist destinations in the world. It is surrounded by the Indian Ocean strategically located between West Asia and South East Asia and has been an important stop on the silk route or the Silk Road. It has all requirements to be one ...
Leader in processed meat Keells Food Products Plc is doubling its capacity with the purchase of production facility of D&W Foods Ltd., at Pannala for Rs. 700 million. The Company also announced a Rights Issue to raise Rs. 1.02 billion. Both moves are subject to shareholder approval at an EGM. D&W Foods is located at ...
Over 25,000 passengers carried in eight months with Kandy, Badulla, Trinco and Vavuniya as destinations Ever since its launch in October 2011, Expo Rail has been on an upward drive redefining rail travel in Sri Lanka. With four destinations in its portfolio – Badulla, Kandy, Trincomalee and Vavuniya – Expo Rail has, in the past ...
Peter Kropotkin is a Russian revolutionist who has commented in his book ‘The Conquest of Bread’ what he considers to be the weaknesses of the economic systems of capitalism and how poverty and scarcity thrives on. However, Kropotkin did not believe in the theory of state and is known as an anarchist. The issue of ...
With highest-ever top and bottom line performance premier blue chip JKH says knowing exactly who were are, what we stand for and where we are headed makes all the differenceI am pleased to present the Integrated Annual Report, and the Statement of Accounts, for the Financial Year ended 31 March 2012. The Report encapsulates the ...
Given one month extension pending reconstitution Adding to the confusion and controversies, the Board of Directors of the BOI is in limbo with subject Ministry Secretary Dr. P.B. Jayasundera giving it a month’s extension. The move follows the tenure of the members of the Board ending recently and until the latest extension indicated this week, ...
By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011. As a result the trade deficit widened, putting the ...
Sri Lanka Tourism Promotion Bureau MD post is a permanent position and comes under scheme of recruitment approved by Treasury Rumy Jauffer hired on one-year contract sans an application or a CV Not marking attendance, unlimited use of fuel among flags-off in Auditor General’s Department query A host of queries by the Auditor General’s Department ...
Boating industry thanks Industry Minister for strong support Sri Lanka enters prestigious International Boating Industry Magazine rankings Sri Lanka’s commercial boat sub-sector reporting stronger international orders from Asia, Africa and ME Introducing a much-sought-after measure of relief to Sri Lanka’s boating industry, the country will now introduce tax on boat imports that are la...
The name ‘Jetwing’ has long been associated with caring, and a commitment to hospitality as well as the environment. For almost 40 years, the family owned company has grown tremendously, from humble beginnings in Negombo in 1963. Future projects, planned to bear fruit in the next three years, include the doubling of the current room ...
Several days after its original announcement of suspension of flights during off-peak season, SriLankan Airlines retracted saying services to Rome, Milan and Moscow will continue uninterrupted. “SriLankan Airlines’ services to Rome, Milan and Moscow will remain uninterrupted as per the present schedule. The flight frequencies to these three destinations will also remain the same,”...
Central bank Governor says country is targeting per capita income of $4,000 by 2015Ajit Nivard Cabraal is a man intimately associated with the economic development of Sri Lanka. Well before he became the Governor of the Central Bank of Sri Lanka, in 2006, Cabraal was the chief economic adviser to President Mahinda Rajapaksa, who was ...
With the recent relaxing of the rupee exchange rate and subsequent increase in fuel prices, trade unions and the opposition parties are conducting protest campaigns against the Government, demanding a reduction in oil prices and the cost of living. This article investigates the living conditions of citizens in the recent past and present, quality and ...
NDB‘s contribution to infrastructure development has been substantial during the last three decades. Having garnered the experience and expertise to cater towards the development process in Sri Lanka, NDB continues to focus on this vital component providing the necessary support that will help towards economic development in the country. NDB CEO Russell de Mel says, ...
By Cheranka Mendis Dubai’s low cost airline, flydubai yesterday announced the increase of frequencies to Sri Lanka, going from five to seven weekly flights since 11 March following a surge in passenger numbers. flydubai CEO Ghaith Al Ghaith noted that with the changes in flight timing by moving on from four flights a week during ...
The STING Corporate Accountability Index is an independently researched analysis of the standing of corporate Sri Lanka against a model of responsible business practices. It is published in order to encourage more companies to adopt a holistic system of corporate responsibility. The adoption of such a system and making this the usual way of operating, ...
Loss-making State-owned enterprises are nothing new in Sri Lanka. One of the better known ones is SriLankan Airlines, which was given to Emirates due to its inability to breakeven but was retaken by the present Government. Pros and cons of this move is history but cash-strapped and a midst losses, it appears that the Government ...