Foreign Direct Investment (FDI) generally refers to long-term participation by one country in another country. It usually involves participation in a JV, capital transfer, transfer of technology and expertise. There are two types of FDI: inward foreign direct investment and outward foreign direct investment, resulting in a net FDI inflow (positive or negative) and stock ...

Multilateral donor emphasises devaluation should help exports, reserves Opines 2012 Budget consistent with earlier plans Withholds eighth tranche of $ 2.6 b loan; mission in Jan The International Monetary Fund said on Wednesday that Sri Lanka’s devaluation of its currency was a “step in the right direction” that should favour export competitiveness and preserve foreign ...

FOR two years, the Daily FT team has worked to empower the people through dispensing knowledge of the emerging economy of Sri Lanka. Our belief is simple but pervasive. Since the end of a brutal three-decade conflict in 2009, Sri Lankans have been steadfast in their single-minded ambition to create

Amidst tumbling value in the Colombo bourse, the Government’s Revival Bill suffered a fresh blow when rating agency Moody’s yesterday warned of investor uncertainty and negative impact whilst a fresh Fundamental Rights case was filed against new legislation. Triple adverse developments or reactions were despite the Government remaining hell bent in its continued justification of ...

With the dawn of peace after the cessation of the three-decade conflict in the country, the economy of Sri Lanka witnessed a considerable expansion in all three sectors. Year 2010 recorded a significant enhancement in the Gross Domestic Product (GDP) by 8% and the first half of 2011 recorded

Union Bank of Colombo PLC (UBC) together with ShoreCap II Limited of USA, an International foreign investment Fund, has acquired over 98% of the voting shares of The Finance and Guarantee Company Ltd. (TF&G), infusing Rs. 1.1 billion in new capital to resurrect one of Sri Lanka’s oldest finance companies. Previously Union Bank acquired National ...

The tourism industry is at the zenith in Sri Lanka today. So is cricket. We won the World Cup in 1996. Thereafter we became runners up twice, which is a rare distinction. There are ups and downs in any game. Cricket is no exception. But the fact that we are in the zenith of the ...

Highlights include resettlement, Economic development newsWASHINGTON: Sri Lanka’s Ambassador to the United States and Mexico Jaliya Wickramasuriya, is featured on a new webcast produced by the Embassy of Sri Lanka. During the webcast, Ambassador Wickramasuriya discusses post-conflict resettlement, reconciliation and development in Sri Lanka. He calls on members of the Sri Lankan community in...

By Jude Fernando Another humiliating defeat for the United National Party (UNP) and the Janatha Vimukthi Peramuna (JVP) in the forthcoming elections would certainly improve the country’s future prospects for democracy with equality and justice. A UPFA victory could be celebrated with a sense cautious optimism: perhaps it will enable the evolution of a democratic ...

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 ...

The policy changes, reforms and modernisation since Budget 2011 appears to have been the context of a presentation made to the Joint Apparel Association Forum in July 2011 by the “leading light” in finance, planning, treasury management and economic development. Sri Lanka background 2000-’10 The presentation articulates the background issues experienced from 2000 to 2010. ...

Sri Lanka’s ambition to stage the 2018 Commonwealth Games could receive a further boost today with the arrival of a European delegation that will play a key role in the crucial vote that decides the host city in November. As the race to host the event reaches its final stages, the Hambantota 2018 bid is ...

Last week I received an invite for an ‘Inventors Day Celebration’ in one of the leading schools in the country and the master in charge shared a thought that I felt was a cutting edge idea. Apparently, every one of us is an inventor in some part of our daily life. The issue is that ...

The Small and Medium Enterprise Developers (SMED), the SME arm of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) is organising a delegation to visit ‘International Gift and Houseware Fair in Bangkok’, on 18 – 22 October 2011 at Bangkok International Trade and Exhibition Centre (BITEC) in Thailand. The SMED was ...

Public service is poised to get a shot in the arm making it  greatly people-friendly soon due  to a project initiated by   the ICT  Agency of Sri Lanka (ICTA) recently.   As one of the latest phases of the e-Services initiative  ‘the Lanka Gate e-Services Project’ of ICTA, aims at better public service by developing ...

The Central Bank yesterday announced further relaxation of foreign exchange rules with immediate effect. It said that with a view to facilitating the foreign exchange transactions of the growing economy of Sri Lanka, a few new policy measures had been introduced to further relax the foreign

  Central Bank announced today further relaxation of foreign exchange rules with immediate effect. It said with a view to facilitating the foreign exchange transactions of the growing economy of Sri Lanka, a few new policy measures have been introduced by the Central Bank to relax the foreign

IMF Resident Representative Dr. Koshy Mathai made an interesting observation at a seminar in Colombo the other day. He said that the price of milk here was the same as in the USA. In effect Third World Sri Lankans are paying First World American or US prices for their milk (whether it be powdered or ...

By Ashwin Hemmathagama National Insurance Trust Fund (NITF) was created by an Act of Parliament in the year 2006. A subsequent amendment, No 28 of 2007 has empowered NITF to accept compulsory reinsurance cession from local insurance companies. NITF has fixed the compulsory cession at 20% of the general insurance programmes of all insurance companies ...

President Rajapaksa will address the Oxford Union tomorrow. The President left for the United Kingdom on a special invitation from the Oxford University. He is due to address the Oxford Union for the second time tomorrow. President Rajapaksa addressed the Oxford Union earlier in 2008, at an invitation extended from the Sri Lanka Society at ...

of his address was “Strategy towards Empowering the Rural Economy of Sri Lanka.” President Rajapaksa ...

President Rajapaksa has arrived in London. He has undertaken the visit at the invitation of the Oxford University. The President reached London early this morning, Sri Lanka time. He is due to address the Oxford Union for the second time on Thursday the 2nd. In 2008 President Rajapaksa addressed the Oxford Union at its invitation ...

President Rajapaksa has left for London on a three-day official visit. President Rajapaksa had been invited by the Oxford Union and the Sri Lanka Society of Oxford University. He is due to address the Oxford Union on the 2nd of next month. The President is expected to speak on the defeat of terrorism and Sri ...

By Dr.Laksiri Fernando (Text of DA Rajapaksa Memorial Address) National development is not merely about the economy but the economy is central. It entails economic, social, political, cultural and even moral aspects. The contribution of the North and the East during the last three decades or so was hampered in all these spheres by the separatist and the terrorist war. It is nece...

According to reports, CSE’s Chief Executive Surekha Sellahewa has  said that liquidity in the market would be increased by broadening the investor base, increasing listed companies, improving market structure and introducing more asset classes to trade. The Chief Executive was unavailable for comment upon being contacted by the Sunday Leader. However, experts believe that such ...

of Sri Lanka was resilient growing [...]