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Considerable controversy has arisen regarding Employment Provident Fund (EPF) investment in the Colombo Stock Exchange (CSE). There have even been calls to stop all such investments. It is important, however, to remember that there are positive arguments in favour of such investments. However, it is necessary to create the appropriate enabling environment to avoid criticism ...
The first-ever Swiss-Sri Lanka Business & Investment Forum held in Geneva concluded successfully on 11 June. “The theme of the Geneva event ‘A land of a thousand and one opportunities’ appears to have successfully captured the outlook of Sri Lanka’s new growth phase. I congratulate the Sri Lankan delegation, our Swiss Embassy in Germany and ...
Last week in Parliament, Opposition Leader Ranil Wickremesinghe singled out Daily FT in his usual criticism on newspapers. Among various allegations made by Wickremesinghe was that the FT is one of the papers which is in the pay of the so-called “stock market mafia” and the Central Bank. Wickremesinghe also alleged that FT was one ...
Making noteworthy progress in Sri Lanka’s logistics sector and its international ranking, the country moved up from 137 to 81 in World Bank logistics performance index 2012. The ratings are based on 6,000 individual country assessments by nearly 1,000 international freight forwarders, who rated the eight foreign countries their company serves most frequently. The LPI’s ...
Players are set for the first-ever Sri Lanka Premier League (SLPL), with West Indies showpiece Chris Gayle as the most valuable as he was contracted for $ 100,000 (over Rs. 13 million), whilst top local stars fetched $ 50,000 (Rs. 6.5 million) each. Sri Lanka Cricket yesterday concluded the player draft for each of the ...
The Asian Human Rights Commission recently announced a new initiative, ‘Torture: Asian and Global Perspectives’. It was launched at an event that was jointly organised by the Asian Human Rights Commission and the Centre for Comparative and Public Law at the University of Hong Kong in the Foreign Correspondents’ Club, last month. The bi-monthly magazine ...
The days when libraries dealt only with books are gone and libraries now house digital content and ICT facilities. Librarians are in a better position to offer their cooperation in building Sri Lanka as a knowledge hub of the region. Library Associations and the Sri Lanka Library Association in particular, are in an ideal position ...
West Indies opener Chris Gayle and Sri Lankan all-rounder Angelo Mathews have been named as the two international icon players for the inaugural Sri Lanka Premier League (SLPL) that begins on 10 August. The duo will join five other Sri Lanka players as icons of their respective teams, lend the fledgling league some star power ...
The Board of Investment of Sri Lanka (BOI) has signed an agreement with tourism developer Katana City Developments (Pvt) Ltd. to assess and plan Sri Lanka’s first large scale tourism zone, in the Katana Area, just adjacent to Colombo’s Bandaranaike International Airport. The airport will be connected to the Katana City by a monorail which ...
Diplomacy plays a direct role in addressing the root cause of insecurity. Diplomatic initiatives build partnerships so nations can work together to address bilateral and multilateral issues. Diplomacy refers to communication or negotiations tactics that use political and legal channels to address both bilateral and multilateral issues. Good diplomacy works at least in four ways ...
Premier blue chip John Keells Holdings (JKH) is going for a joint venture with a Paris listed giant to strengthen freight forwarding operations in Sri Lanka and India. In a statement JKH, together with Norbert Dentressangle SA – an international transport, logistics and freight forwarding company, listed on the Paris stock exchange, operating in 23 ...
Widely considered as the livewire behind Dankotuwa Porcelain Plc, Sunil Wijesinha has retired from the Company and controlling shareholder Environmental Resources Investments Plc (ERI) has appointed Sitendra Senaratne as the new Chairman. Senaratne is currently the Managing Director of Ceylon Leather Products Plc. Wijesinha at the end of his contract served as Chairman and Managing ...
Standard Chartered Bank’s Small & Medium Enterprise (SME) Department organised a workshop on ‘Transaction Banking’ on 21 June 2012. The sessions provided an opportunity for the clients to participate in an interactive forum and draw on the expertise and experience of Standard Chartered Bank’s Pasindu Dharmasiri, Manager – SME Transaction and Chamalie Serasinghe, H...
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 ...
Sri Lanka’s tourism has a serious obstacle in current time. Entrepreneurs from other countries are taking advantage of Sri Lanka’s location by using it as a means of illegal drugs hub. Statistics were released by Sri Lanka’s Police and it shows that the first six months of this year, over 19,000 were suspects to drug ...
Japan appreciates the progress made by Sri Lanka in many sectors of national life since the end of the conflict, and stands ready to work closely with Sri Lanka in addressing the tasks that lie ahead, Mr. Koichiro Gemba, Minister of Foreign Affairs of Japan, said in Tokyo on Monday. Japan’s Foreign Minister made these ...
Malaysia Airlines, in recognising the vibrant growth of the Sri Lankan economy and its tourism sector, has decided to expand its operations and visibility, by opening its second branch office in Matara, in the Sothern Province. Represented by Hemas Air Service, its General Sales Agent in Sri Lanka, it also has a branch office in ...
After 11 years of making US higher education popular across the tiny island nation in Indian Ocean Scholarships for USA (Pvt) Ltd (www.scholarshipsforusa.com) has commenced promoting Sri Lanka as one of the most viable Study Abroad destinations for its numerous partners in US. SUSA believes the traffic needs to be both ways and there’s much ...
The Johannesburg Stock Exchange (JSE) yesterday celebrated the start of a new era for its equity market with the launch of equity trading platform Millennium Exchange, developed by technology solutions provider MillenniumIT. The day also marks the moving of the platform from London, where the trading engine has been situated for ten years, to the ...
Reuters: Sri Lanka has met all June-end targets set by the International Monetary Fund (IMF) for the last tranche of a $ 2.6 billion loan, Central Bank Governor Ajith Nivard Cabraal said on Friday. “We have met all the targets. Net domestic financing, net internal reserves and reserve money targets have been met,”” Cabraal told ...
The Sri Lanka Press Institute has organized a panel discussion on preventing human smuggling and trafficking from5pm -6.30pm on Monday 2nd July 2012 at the auditorium of the Sri Lanka Press Institute #96, Kirula Road Colombo-05. The panelists include: Mrs.Kamalini de Silva-Secretary, Ministry of Justice, Managala Randeniya-General Manager ,Sri Lanka Bureau of Foreign Employment, Ajith ...
Sri Lanka’s new development tagline Sri Lanka’s current development tagline has been to make it the ‘Emerging Wonder of Asia’ as originally enunciated in the ‘Mahinda Chinthana: Vision for the Future’ and reaffirmed in both the Development Policy Framework of the Government issued in 2010 and the Annual Report of the Ministry of Finance and ...
Reuters: Romney or Obama? Republican or Democrat? The U.S. presidential election may inflame voter passions, but based on past experience, whoever wins the world’s most powerful elected office isn’t likely to move the dollar. The U.S. dollar’s performance over the past 40 years shows little relation to the party holding the presidency and more to ...
Sri Lanka's capital market watchdog- Securities and Exchange Commission (SEC) has sought views on plans to grade initial public offers through a rating agency and fund independent research, following best practices in other markets.
Reuters: The Sri Lankan rupee edged higher on Friday a day after it hit a record low, as exporters and a state bank sold dollars to buy the local currency in thin trade, dealers said. The rupee closed at 133.50/70 to the dollar, a tad firmer from Thursday’s close of 133.80/90. It hit a fresh ...
As Sri Lanka-UK bilateral trade volumes reported a further rise in 2011, the UK is keen to raise its investments in Sri Lanka. “UK’s Cleveland Bridge Ltd., the well-known global tech engineering company, has won a contract to build 210 permanent steel bridges in Si Lanka. This infrastructure project is partly funded with a loan ...
India on Friday slashed fuel prices in a bid to bring relief to consumers, putting the stagnant oil prices in Sri Lanka under stronger focus. As the rupee continues to dip, there is ever-increasing pressure on the Government to take action on keeping the cost of living bearable – a tough task at the best ...
Sri Lanka’s Main Opposition, United National Party (UNP) yesterday claimed that the state-controlled pension fund Employees’ Provident Fund’s (EPF) share portfolio at the Colombo Stock Exchange (CSE) has made losses to the tune of a staggering Rs.12.2 billion.
The Securities and Exchange Commission of Sri Lanka (SEC) has sought views from the public to set up a rating agency to grade Initial Public Offerings (IPOs) and fund independent research on listed companies, as practiced in developed capital markets.
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 ...