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Acquire 40% stake in Sri Lanka’s oldest conglomerate George Steuart & Company marking a new beginning and in first major deal between the two Former Chairmen Scott Direckze, S. Skandakumar and current Chairman Jayantha Wimalagooneratne sell stakes; deal on Group MD Dubsy Kanagaratnam's stake pending Dilith to use 176 year old firm as vehicle to ...
- Nimal, Dilith appointed to George Steuart Board (Category: Business)
- Country’s oldest company enters Bourse via subsidiary (Category: Business)
- South-savvy Nimal hits the beach with Tangalle Bay buy for Rs. 220 m (Category: Business)
Last week, media were abuzz with two reports on how undesired exchange rate movements could worry governments. One was a currency under pressure for appreciation in the market and the other was a currency moving in the opposite. Swiss Franc: One way Journey to Appreciation The first was the case of the Swiss Franc which ...
- Six popular fallacies of currency appreciation – Part 2 (Category: Business)
- Swiss central bank intervention fails to stem franc’s rise (Category: Business)
- External value of the rupee: Market driven or Central Bank driven? (Category: Business)
- Rupee sinks to record low (Category: Business)
Says reserve position strong and exchange rate policy suitable in response to IMF remarksThe Central Bank yesterday justified and defended its management of the country’s foreign exchange dynamics after the IMF raised some concerns. The IMF in a statement on Wednesday at the conclusion of its staff mission said Sri Lanka’s foreign exchange reserves ...
- No timing yet for Sri Lanka review prior to next loan disbursal: IMF (Category: Business)
- IMF’s take on Sri Lanka’s good, bad and the ugly (Category: Business)
- Drought may cut growth to 6.7% (Category: Business)
- CB to stop supplying dollars for oil bills (Category: Business)
(Reuters): Sri Lanka’s tourist arrivals jumped 29.6 percent in August from a year earlier with the visitors expect to hit a record high, as the island nation kept attracting more visitors and tourism-related investment since the end of a 25-year civil war. Arrivals have risen every month on a year-on-year basis since the war’s end ...
- May tourist arrivals up by 39% (Category: Breaking News)
- Tourist arrivals continue to shoot up (Category: Breaking News)
- New Zealand hit new record in tourist arrivals (Category: Business)
- Nallur festival attracts large crowds (Category: Breaking News)
The Sri Lanka Private Sector Assessment of the Report to the United Nations Secretary General by the Panel of Experts on accountability in Sri Lanka was released on Thursday. The private sector critique is a compilation of views raised by a private sector group in Sri Lanka who are concerned about the content of the ...
- Private sector’s critique of Advisory of UN Panel of Experts (Category: Business)
- Do What You Like Vs Like What You (Have To) Do! (Category: Breaking News)
- David Vs Goliath in Geneva (Category: Breaking News)
- East vs .West, good vs. bad: Dissecting ‘glocalisation’ in branding (Category: Business)
Reuters: England piled more misery on India with a thrilling six-wicket victory in a one-off Twenty20 match at Old Trafford on Wednesday. After losing the test series 4-0, India started brightly in the shortest version of the game and racked up 165 all out, only to see England reach their target with three balls to ...
- Muammar Gaddafi dead of wounds following capture - Reuters (Category: Breaking News)
- “Zero hour” for Gaddafi as besieged Tripoli rises up (Category: Business)
- Gaddafi son rallies loyalists for Tripoli fightback (Category: Business)
- Gaddafi lessons for brand building (Category: Business)
Stock Broking firm Capital Alliance suggests that the 2.6 million tourist arrivals target isn’t a pipedream but achievable though it will be only by 2020, which is 4 years later than the Government and industry set timeline of 2016. “The Government projects 2.5m arrivals in 2016, but the industry will lack the rooms and trained ...
- Think tourism (Category: Business)
- ETA examined (Category: Business)
- September tourist arrivals up 27% (Category: Business)
- South Africa’s Sun City to invest $ 800 m in Sri Lanka tourism (Category: Business)
The Tourist Hotels Association of Sri Lanka (THASL) and the Vocational Training Authority (VTA) recently signed a Memorandum of Understanding (MOU) to train more people for the hospitality industry using the VTA network. THASL will help VTA to finalise the curriculum in keeping with the industry’s requirement and provide the necessary assistance by providing the ...
- VTA, SLASSCOM partner to enhance student employability in ICT sector (Category: Business)
- MOU Signed To Empower Tourism Industry (Category: Breaking News)
- Cinnamon Hotels & Resorts signs MoU with Vocational Training Authority (Category: Breaking News)
- ACL Cables PLC support Electricians enhance skill set with NVQ Level 4 Certification (Category: Breaking News)
After two decades, Hilton Colombo owning company Hotel Developers finally releases accounts Accumulated losses by end FY 2009/2010 top Rs. 10 billion Revaluation of hotel results in Rs. 4.7 b gain yet company beset with negative networth of Rs. 4.7 b as against Rs. 8.26 b in 2008/9 Total outstanding loans and borrowings near Rs ...
- Consultants 21 files civil litigation on revival of ailing Hotel Developers (Category: Business)
- End to HDL hangover hovering? (Category: Business)
- HDL saga: Hilton feasts as Govt. loses (Category: Business)
* $ 413 m FDI in the 1H, $ 1 b full year target on track * Gross official reserves top $ 8 b by 16 August * Govt. sticks to fiscal deficit target in 1H, lower than 2010 * Broad money (M2b) expands by 20.7% year-on-year, in June 2011; credit disbursed to private sector ...
- Central Bank increases interest rates to halt surge in credit growth (Category: Breaking News)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- Private sector borrowings top Rs. 500 b in 2011 (Category: Business)
- 2012 budget deficit goal challenging says CB Chief (Category: Business)
COLOMBO (Reuters): Sri Lanka’s tea production fell in July for a fourth straight month due to adverse weather conditions, the island nation’s state-run tea board said on Thursday. Tea production in July was 11.5 per cent down to 24.2 million kilogrammes (kg) against 27.4 million kg in the same month last year. The output in ...
- Kenya tea exports up 10% in first quarter (Category: Business)
- October tea output falls 15% year-on-year (Category: Business)
- Record tea crop in November (Category: Business)
- Tea crop forecast cut (Category: Business)
Crucial meeting discusses and approves Budget 2012 plans, new Tourism Authority, acceleration of eSri Lanka drive and regional development Cabinet at its meeting this week appears to have spent greater deal of time discussing and making key decisions on future development including Budget 2012 and high growth sectors such as tourism, ICT and industrialisation. The ...
- Sri Lanka parliament approves defence budget 2012 (Category: Breaking News)
- Cabinet nod to issue soft liquor licenses to SLTDA registered establishments (Category: Breaking News)
- Colombo to get Rs.1 b flood prevention program (Category: Business)
- 2012 Budget on 21 Nov. (Category: Business)
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 exchange regulations. These include relaxation of restrictions for foreign ...
- FOREIGN EXCHANGE REGULATIONS FURTHER RELAXED (Category: Breaking News)
- CB further relaxes forex rules (Category: Business)
- Ease of forex rules won’t impact rates (Category: Business)
- Rules on forex accounts relaxed (Category: Breaking News)
Achieves Rs. 4.37 b profit in 1Q from core business; With one-off gain Group post-tax profit a staggering Rs. 5.7 b; Net profit attributable to equity holders up 195% to Rs. 3.5 bCarson Cumberbatch Plc has established a record for the highest ever profit for a quarter by a listed entity. The Group recorded a ...
- Distilleries toasts FY12 start with 1Q net profit up 50% to Rs. 1.2 b (Category: Business)
- Stellar 3Q for JKH (Category: Business)
- Controlling shareholder CFLB buys 12% more of Colonial Motors for Rs. 319 m (Category: Business)
- CT Holdings ends FY12 on a high with stellar 4Q (Category: Business)
Combing military power with will power has enabled the tiny island nation to recover its sovereignty and restore economic development, stated The Economic Times in a report published last week. Not only did the Sri Lankan Army (SLA) comprehensively defeat the LTTE insurgency — the first such victory in the 21 century, but it also ...
- Sri Lanka allocates Rs. 65,890 M for speedy completion of development projects (Category: Breaking News)
- EXPLAINER: What caused Sri Lanka’s economic collapse? (Category: Breaking News)
- U.S. urges Sri Lanka to work quickly to achieve long-term economic stability (Category: Breaking News)
- State commits $44 million in LEDA funds to 18 companies in 2020 (Category: USA, New Mexico)
Sri Lanka Gross Domestic Product is worth 50 billion dollars or 0.08% of the world economy, according to the World Bank. Historically, from 1960 until 2010, Sri Lanka's average Gross Domestic Product was 10.46 billion dollars reaching an historical high of 49.55 billion dollars in December of 2010 and a record low of 1.42 billion dollars in December of 1960. Sri Lanka is a developing economy off ...
- Billion Target (Category: Business)
- Done Deal (Category: Business)
- Sri Lanka tea export earnings exceed 1 bn dollar (Category: Breaking News)
- Sri Lanka, Vietnam focus on expanding trade and investment (Category: Breaking News)
Sri Lanka gets World Bank loans for small business, tourism
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