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The need of policy framework and regulations for Sustainable Tourism (Economic wealth distribution, protecting environment, promoting social values) was the focal point of Chairman Sri Lanka Tourism Development Authority Dr Nalaka Godahewa at the evening public lecture organised by the Central Bank of Sri Lanka (CBSL) and held at the CBSL training centre auditorium last evening.
HSBC Sri Lanka on Monday celebrated its 120th year of successful operations in the country. Initially set up in Colombo in 1892 as a bank to facilitate trade finance with China, the entity has evolved over the years to become a full service bank that encompasses commercial and personal banking solutions for a diverse profile ...
Last week I was on the Air Force flight on route to Jaffna for a meeting with 52 investors who wanted to invest in the first industrial estate in the Northern Province – Atchchuveley. In my hand were the key sites that one can visit in Jaffna as a tourist. The first thought that struck ...
An exciting weekend of activities will be held in Kalpitiya as preparations are in full swing for Sri Lanka’s first-ever Red Bull Kite Surfing race scheduled to be held on 7 and 8 July. Divyaa Lagoon Resort – the only luxury boutique hotel in Kalpitiya – will play host to the event including a fantastic ...
IFC, a member of the World Bank Group, is working with Sri Lanka’s Nations Trust Bank (NTB) to help up to 30,000 small business owners become more competitive through a series of advisory interventions, sharpening their readiness to access new markets. With IFC’s advisory assistance, the bank has strengthened its institutional capacity over the ...
Sri Lanka CEO Nick Nicalaou dismisses exit rumours; says local operations robust and post-war future in the country looks very promising World’s local bank celebrates 120 years of excellence in Sri Lanka on 1 July, invests $ 7 m for major upgrade of Head Office in Fort By Nisthar Cassim HSBC, which is ...
A public lecture on “Tourism industry in Sri Lanka” Growth, strategies and future prospects” will be held today (28 June) at 5.00 p.m. at the Centre for Banking Studies, Sri. Jayawardenapura Mawatha, Rajagiriya. The speaker will be Sri Lanka Tourism Development Authority Chairman Dr. Nalaka Godahewa. The public lecture is organised by the Central Bank ...
The Sri Lanka Banks’ Association (SLBA), which represents the licensed banks operating in Sri Lanka, in a statement, said yesterday that it was concerned over the statement made by Standard and Poor’s. SLBA said S&P’s statement was issued on 20 June, where attention was drawn to concerns over credit risk in the banking industry. Concerns ...
By Cheranka Mendis NDB Group yesterday introduced full service investment banking operations with the re-launch of Capital Development and Investment Company (CDIC) under a new corporate identity as NDB Capital Holdings Plc. NDB Capital Holdings CEO and Director Vajira Kulatilaka (second from left) addresses the media yesterday. Others from left are NDB Capital Holdings Chief ...
WOKE up as usual to a nursery rhyme. The Bread Man, who blares the same old tune over a megaphone every day, runs two jobs; one of waking up Sri Lanka, a job coercively collared from the rooster and the other selling bread and buns. The ice cream man comes later on in the day, ...
The Oxford Dictionary definition of ‘inept’ is ‘acting or done with no skill’. An ineptitude results is such behaviour being manifested An ‘Inept’ocracy’ has been defined in the Urban Dictionary as ‘a system of government, where the least capable to lead are elected, by the least capable of producing, and where the members of society ...
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 ...
With the end of the war, there was a desire throughout the country for a peace dividend. Over the 30 years of the conflict, pent-up demand had built up both for consumption and investment expenditure. The authorities were under intense political pressure to create an environment that was conducive to finance imports of consumption goods, ...
Indian arrivals drop 4.6% despite still being the largest component; overall numbers double from April Sri Lanka’s tourist arrivals grew 17.5 per cent in May to 57, 506 from a year earlier, latest data released by the Tourism Development Authority showed yesterday. The latest arrival rates were nearly twice that of April, which only recorded ...
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 ...
President Mahinda Rajapaksa and a top team of officials last week held a forum for Thailand business community at the Grand Hyatt in Bangkok. Apart from President Rajapaksa, others who spoke were Central Bank Governor Nivard Cabraal, BOI Acting Chairman M.M.C. Ferdinando, and Tourism Development Authority Chairman Dr. Nalaka Godahewa. A Sri Lankan business delegation ...
The pioneers of tented camp safaris, Eco Team has once again set a precedent in Sri Lanka’s tourism sector with its innovative new concept of ‘mobile hotels’. In a record-breaking move, Big Game Camps & Lodges – a venture of Eco Team (Pvt) Ltd. – set up ‘camp’ for a total of 270 tourists on ...
The external trade of the country may look challenging, but foreign inflows appear robust as per latest data disclosed by the Central Bank yesterday. Workers’ remittances in March amounted to $ 550 million, up 9.2% year-on-year (yoy) whilst for the first quarter it grew by 17.2% to $ 1.5 billion. Earnings from tourism in March ...
By Shanuka Tissera The private sector of Sri Lanka and Singapore yesterday in Colombo spearheaded a fresh deal to boost bilateral business on the sidelines of a visit by the city-state’s Foreign Minister. The Singapore Business Federation (SBF), which has brought down a delegation, and the Sri Lanka Singapore Business Council (SLSBC) affiliated to the ...
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 ...
After the LTTE was defeated, a campaign designed to promote Sri Lanka as a leisure and investment destination labelled ‘The Small Miracle’ was shot down, ostensibly on the ground that the miracle was in no way ‘small’. The marketing value in Sri Lanka’s compact size, our rich biodiversity, the diversity of leisure locations and physical ...
Last week’s resignation of Dr. Nalaka Godahewa from three tourism entities whilst remaining Tourism Development Authority Chairman as exclusively reported by the Daily FT is being linked by industry circles as a direct fallout with Treasury Secretary Dr. P.B. Jayasundera. The strained relationship between the Tourism Chief and subject Ministry Secretary (Treasury Chief Dr. Jayasundera ...
A new fund that invests exclusively in Treasury Bills and Treasury Bonds has been launched by Ceylon Asset Management Co. Ltd (CAM), following the success of the Ceylon Income Fund, which emerged as the best performing fixed income fund over 2010/11 as well as 2011/12 financial years. The high interest rates available on Government Securities ...
Saudi Arabia, the Arab world’s largest economy, wants a joint council to boost trade ties with Sri Lanka, the Ministry of Industry and Commerce announced this week. The Ministry quoted Dr. Mohammed H. Al-Kathiri, the Deputy Minister for Foreign Trade of Kingdom of Saudi Arabia as saying, “It would be necessary to complete appropriate procedures ...
The Foreign Minister of Singapore will be visiting Sri Lanka from 26 May to 2 June 2012 accompanied by a high-powered delegation from the Singapore Business Federation (SBF). One of the key expectations of the delegation is to establish mutually-beneficial relationships with key Government officials as well as the Sri Lankan business community during ...
Opens three branches in Nelliady, Chunnakam and Chavakachcheri Steeped in a rich history of 32 years, LOLC’s strategic vision and agility have enabled its companies to leverage growth opportunities evolving in the national landscape. With primary business interests in the financial services sector, the LOLC Group – one of the leading blue chip companies of ...
The best hotels, hotel architecture, interiors, construction and design across the entire Asia Pacific region were celebrated at The J W Marriott Hotel in Kuala Lumpur on 27 April. The leading companies behind these winning hotels and hospitality projects were invited to attend to receive the prestigious awards. The Asia Pacific Hotel Awards in association ...
Under Secretary of the Ministry of Foreign Affairs of Philippines Erlinda F. Basilio met Minister of Economic Development Basil Rajapaksa today at the Economic Development Ministry. At the outset Minister Rajapaksa said at the moment Sri Lanka will always remember the help extended by the Philippines in various international forums recently. Longstanding friendship between the ...