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Having successfully defeated terrorism, ended years of civil war, ushered an era of peace and prosperity to the country, initiated resoundingly successful development initiatives in the north and the east, the Government of Sri Lanka needs to be applauded for consolidating a unified national identity; an identity that only occasionally reared its head at cricket ...
- UNHRC inspection team to visit Sri Lanka next week (Category: Business)
- Double-edged reconciliation (Category: Business)
- Political dialogue must be accompanied by concrete changes on the ground (Category: Breaking News)
- International Crisis Group statement on LLRC report (Category: Business)
Reuters: Iran, facing sanctions that could cripple its oil exports, has told world powers it wants to resume long-stalled talks with “new initiatives”, and France said it might be open to addressing suspicions about its nuclear programme. Tehran made the offer in a letter to the EU’s foreign policy chief obtained by Reuters on Thursday, ...
- Letter To Tiran (Category: Breaking News)
- Marsh sends letter of demand to SLC (Category: Business)
- Iran halts oil sales to UK, France on eve of talks (Category: Business)
- Iran imposes oil ‘counter-sanctions’ on EU (Category: Business)
(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “demand-driven impact” and help moderate inflation, its Governor Ajith ...
- Sri Lanka stocks may slump more on rates – HSBC Private (Category: Business)
- CB Governor sees light at the end of the tunnel (Category: Breaking News)
- Rupee hits new low, but State intervenes (Category: Business)
- Rupee down (Category: Business)
Sri Lanka’s benchmark stock index, the world’s worst performer this year, may extend its slump as the central bank raises interest rates to curb inflation, according to HSBC Holdings Plc’s private banking unit. HSBC Private Bank, which oversees about $499 billion, will wait for stock valuations to fall to “single digit” multiples before it considers ...
- Stocks approach one-month low; rupee steady (Category: Business)
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- Sri Lanka Stocks May Slump More on Rates, HSBC Private Says (Category: Breaking News)
- CB seen holding rates, SRR steady – Reuters poll (Category: Business)
Are the Indian Army’s golf courses illegal? Sri Lanka’s fourth golf course opened by Air Force India’s national auditor, the Comptroller and Auditor General (CAG), has reported to Parliament that the country’s Army has turned large tracts of State military property into illegal privately-run ...
- Nuwara Eliya Golf Club elects Office Bearers at 123rd AGM (Category: Business)
- Opening of Lanka’s 4th golf course (Category: Breaking News)
- SriLankan flies Touché Golf League finalists to Kandy (Category: Business)
- Oman Air Golf Classic Tournament 2012 to tee-off in October (Category: Business)
Regulatory pressure mounted further over the course of 2011 – bad news for financial services firms, but good news for the consultancies to which they turned for help. Ernst and Young topped the Operational Risk and Regulation consultancy rankings again in 2011 (http://www.risk.net/operational-risk-and-regulation/feature/2135016/orr-consultancy-rankings-2011), and the New York-based head of ...
Perhaps exposing brokers and investors who campaigned heavily for relaxed credit rules for their lack of judgment, the Colombo stock market yesterday failed to close on the up, despite enjoying a big burst in early morning trading. Opening with boosted confidence following the SEC’s relaxed credit rule announcement, the bourse gained sharply by 1.8% or ...
- Rs. 50 b in value lost as CSE woes continue (Category: Business)
- Stocks at one-month low on forced selling; rupee flat (Category: Business)
- CSE’s losing streak continues (Category: Business)
- Bourse ends week on the up (Category: Business)
Respected blue chip Aitken Spence pulls out of biggest FDI project – the $ 500 m Colombo South Container Terminal due to issues with funding and cost escalations Construction cost up 30% to $ 350 m; overall project cost now estimated at $ 595 m up from $ 475 m at bid proposal stage Lender ...
- Deal signed to build Colombo Port Expansion project’s South Container Terminal (Category: Business)
- BOI signs US$ 500 m agreement for Colombo South Container Terminal (Category: Business)
- WORK ON SOUTH CONTAINER TERMINAL OF COLOMBO PORT LAUNCHED (Category: Breaking News)
- AGREEMENT INKED FOR US$500 M AGREEMENT FOR CBO SOUTH CONTAINER TERMINAL (Category: Breaking News)
AS expected, Sri Lanka’s tourism industry made a booming start to the New Year with the news that South Africa’s Sun City is planning to invest a hefty US$ 800 million in a massive project in Katana. This brings the total investment from large-scale foreign hotel projects to nearly US$ 2 billion, with Sheraton, Shangri-la, ...
- Sri Lanka bans transport of tourists by three wheeler taxis not licensed by Tourism Authority (Category: Breaking News)
- Middle East travelers to SL increase (Category: Breaking News)
- Tourism products to be promoted through âVisit Sri Lanka 2011â (Category: Breaking News)
- Cabinet briefed on moves to open borders for tourists under travel bubble (Category: Breaking News)
It is the season for giving, which we all know is a reason to look beyond ourselves and find some worthy cause to take up for Christmas. Everyone is familiar with the warmth connected with giving and the quiet pleasure in ensuring that someone else has a happy time as well. It can be something ...
- Facebook group raises more than $1,500 to tip entire restaurant staff (Category: USA, Iowa)
- Facebook group raises more than $1,500 to tip entire restaurant staff (Category: USA, Nebraska)
- Facebook group raises more than $1,500 to tip entire restaurant staff (Category: USA, Maryland)
- Facebook group raises more than $1,500 to tip entire restaurant staff (Category: USA, New Hampshire)
The Colombo stock market saw a dull day’s trading with turnover recording Rs. 664 million and the All Share Price Index falling 0.52% to close below the psychological support level of 6,000 at 5,965 while the Milanka Price Index lost 0.05% to register 5,228. The top turnover contributor list was dominated by fundamentally sound counters ...
- Market moves up marginally (Category: Business)
- Retailers keep bourse active (Category: Business)
- Bourse in welcome rebound; market cap up by Rs. 25 b (Category: Business)
- Rs. 44 b in value wiped out from Bourse (Category: Business)
By Ian The President in his speech at the opening of the Southern Expressway said that this could be the beginning of building a modern society. He also mentioned that had there been such an expressway linking the north with the south the extremists would not have succeeded in capitalising on the mistrust among communities. ...
- "I dont like to use the term 'student supppression' simply because there is no such thing" (Category: Breaking News)
- JVP accuses Govt. of crippling University system (Category: Business)
- Sri Lanka to open new universtities to improve higher education (Category: Breaking News)
- Gota urges educated youth to take country forward (Category: Business)
Having launched Sri Lanka’s first-ever equity investments and financial information portal, Sri Lanka Equity Analytics (www.srilankaequity.com) recently celebrated its successive second year of operations by reaching the milestone of 5,000 registered online memberships and over five million hits. Sri Lanka Equity Analytics is a financial portal designed to address varying needs of the invest...
- Borsa Italiana’s cash markets go live on MITs Millennium Exchange (Category: Business)
- Millennium’s Trading and Surveillance platforms go live in Johannesburg (Category: Business)
- ‘Those who live by the Dhamma are protected by the Dhamma’ SEC Chief tells investors (Category: Business)
- SUN FM presents Arash live in concert this December (Category: Business)
No unanimity on exchange rate movement A front page headline news item in this paper on last Saturday had reported on an apparent division of opinion between the two top policy makers of the country, namely the Treasury Secretary Dr. P.B. Jayasundera and the Central Bank Governor Ajith Nivard Cabraal, on the depreciation of the ...
- Rupee sinks to record low (Category: Business)
- CB to stop supplying dollars for oil bills (Category: Business)
- Appreciating the exchange rate to create prosperity (Category: Business)
- Devaluation divide (Category: Business)
The Colombo stock market plunged further yesterday prolonging the misery as panic selling picked up heightening investor fears. The market saw Rs. 25 billion in value wiped off bringing the total to over Rs. 150 billion since 3rd November. Reinforcing market’s pulse, Reuters said mainly due to negative sentiment created by an expropriation bill amid ...
- Losses at Bourse balloon to Rs. 142 b (Category: Business)
- Stock market dip aggravates (Category: Business)
- Investor confidence worsens by the day; bourse loses Rs. 53 b in value (Category: Business)
Confidence, the most critical element of the business climate Need of the hour Investment needs to increase from 28% (2010) to 34% of GDP to attain the Government’s growth target of 8%, as Sri Lanka’s incremental capital output ratio is 4.2. Public investment has been capped at 6%-7% of GDP. This means that private investment, ...
- Fitch joins chorus, says nationalisation law could hinder investment (Category: Business)
- Plug the leaks (Category: Business)
- More private sector investments key for higher growth – ADB (Category: Business)
- How attractive or unattractive is our business climate to foreign investors? (Category: Business)
Following is the address delivered by Senior Minister for International Monetary Cooperation Dr. Sarath Amunugama at the fourth South Asia Economic Summit (SAES IV) Plenary Session: In the aftermath of the global economic crisis, there has been a noticeable shift in economic clout, moving from the USA and the debt-plagued countries of the Eurozone, to ...
- Asia Pacific trade and investment (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
- Challenging times for Asia Pacific (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
Sri Lanka Economic Association Conference – Key takes at the inauguration By Dinali Goonewardene The Government in addition to domestic constraints faces a series of external and global constraints and the Sri Lanka Economic Association at its annual sessions from 13-14 October 2011 discussed this under the theme ‘Achieving National Economic Goals Amidst Global Challenges’. ...
- Lion leads frontier markets (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- A resolute Sri Lankan economy (Category: Business)
In the midst of the turmoil in international financial markets and national economies, Sovereign Wealth Funds are coming into closer focus. For the first time since the breakout of the financial crisis, the financial mandarins of China intervened to shore up confidence in the country’s four largest banks by increasing its holdings in them through ...
- Gas gusto! (Category: Business)
- Government in the dark on extent and volume of Mannar Basin gas deposits (Category: Business)
- India’s ONGC To Also Explore Oil In SL (Category: Breaking News)
- Another Indian firm to explore oil in Mannar Basin (Category: Business)
Professionals are shy to raise critical issues in public!It is believed that the single focus advocacy proposal of the Joint Chambers of Commerce and Industry for the Budget 2012 to address is the continuing high priority of enhancing the ‘ease of doing business in Sri Lanka’. A president of a chamber holds a publicly articulated ...
- Economic management and the way forward (Category: Business)
- Time for reflection, reality check, risk mitigation and lessons learnt action (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
- Investing in the Northern Province: Constraints and countering them (Category: Business)
The world’s economies are competing for investment, in order that they create jobs for their citizens and trade effectively in goods and services in this globalised world economy. Barriers and restrictions are tumbling down as nation states compete against each other, to become attractive to investors.Competitiveness is a comparative concept of the ability of a ...
- Sri Lanka calling (Category: Business)
- Why Lion leads frontier (Category: Business)
- Lion leads frontier markets (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
The misery continues at the Colombo stock market as its year to date return yesterday dipped below the 1% threshold once again, a level last witnessed in mid July. A 0.4% dip in All Share Index saw the year to date dip from Wednesday’s 1.06% to 0.63% yesterday. On 19 July the Bourse was recording ...
- Losses at Bourse balloon to Rs. 142 b (Category: Business)
- Stock market on Wednesday (Category: Breaking News)
- Rs. 44 b in value wiped out from Bourse (Category: Business)
Solar, wind, wave, geo thermal, bio massNorochcholai – underperforming, Kerawalapitiya – under maintenance, power utility – threatens strike, Sampur at Trincomalee – coal power agreement signed with NTPC of India, lack of rain in hydropower catchments… the travails of Sri Lanka’s power sector are always in the news. The policy on energy has been driven ...
- Germany sets new solar power record, institute says (Category: Business)
- Renewable energy will only get cheaper: study (Category: Australia, Victoria)
- Electricity, Costs, Options Needs & Priorities (Category: Breaking News)
By Harsha de Silva We understand that the Securities and Exchange Commission (SEC) is planning to compound undisclosed securities fraud by some billionaire investors. Media reports have begun to circulate that Environmental Resources Investments (ERI) and its Directors have agreed with the SEC to pay an insignificant fine of Rs. 10 million and compound an ...
- SEC sets the record straight on ERI case (Category: Business)
- Harsha breathes fire on SEC over ERI (Category: Business)
- Harsha wants securities fraud fine increased from Rs. 10 m to Rs. 100 m (Category: Business)
- ERI Warrants dip over SEC rule (Category: Business)
It’s strange how the innovations of the world tend to wrap around our daily life. One of them is the brand Facebook. I have been trying to locate a friend of mine for the last 12 years and failed, until I used a modern IT application like FB and today I realise the power of ...
- London: World’s first social media Olympics (Category: Business)
- Has the bubble burst? (Category: Business)
- The brand IPL is about highlighting performance (Category: Business)
- Treasures of Sri Lanka, the ethical way (Category: Business)
The Colombo stock market erupted yesterday before and after the SEC lifted the ban on broker credit to clients establishing one of the biggest day gains with value of Bourse rising by Rs. 77 billion. The benchmark All Share Index (ASI) shot up by 3.13% or 214 points and Milanka Price Index rose sharply by ...
- Bourse hails broker credit boost (Category: Business)
- Brokers to seek variance of SEC credit rule (Category: Business)
- Stocks down on reports SEC Chief under pressure (Category: Business)
Investors toast SEC move as pent up buying bolsters CSE to record one of the biggest day gains Market’s value jump by Rs. 77 b; ASI up 3.13% or 214 points; MPI by 3.67%; Turnover tops Rs. 3.76 b; Welcome net foreign inflow completes resurgent day SEC move will encourage greater recapitalisation at broking firms; ...
- Brokers, SEC meeting sort out credit rule issues (Category: Business)
- Bourse hails broker credit boost (Category: Business)
- Credit ban for illiquid: SEC suspends 12 brokers from giving credit (Category: Business)
The Colombo stock market began a fresh week with caution though there was some degree of volatility during the day. Despite gaining 39.3 points at its intra-day high of 6,872.34 points, activity levels calmed down to close flat for the day. ASI eventually closed up 3.47 points and MPI by 13 points. Turnover was a ...
- Asia Asset Finance soars on debut (Category: Business)
- Sathosa records record turnover (Category: Business)
- Stock market ends week on a positive note (Category: Business)
- Retailers keep bourse active (Category: Business)
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