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According to figures collected by PATA, international visitor arrivals into Asia Pacific destinations during May 2012 show a collective gain of 3% year-on-year. This is the second consecutive month with a declining growth rate. For the first five months of 2012, the average growth in international visitor arrivals into Asia Pacific destinations was 6% up ...
By Devin Jayasundera Former Securities Exchange Commission (SEC) Chief Tilak Karunaratne yesterday rebuked allegations of over regulation and ad hoc measures as having impacted the stock market during his tenure and noted that the SEC Act should be strengthened further to punish manipulators. “What some of the crony brokers and dishonest investors try to project ...
The official CSE website, www.cse.lk, was re-launched recently, as part of CSE’s efforts to improve the process of information dissemination. The CSE website provides access to a wide array of information such as real-time market data, corporate disclosures and company financial reports. A key feature of the new website is the access to key information ...
Strongest ever SA biz delegation to Sri Lanka in bilateral history Among investments sought here are urban property and shopping malls ‘Will strongly boost bilateral trade levels beyond $ 65 million’ – Rishad Former Deputy Foreign Minister Schoeman in the delegation The biggest -and most powerful- South African business delegation ever to arrive in Sri ...
At an event held at the Cinnamon Grand Hotel amidst an eminent gathering of celebrities, guests, clients, foreign delegates and media, Quantum Fitness recently launched NordicTrack and PRO-FORM, the latest addition to their renowned range of fitness products and introduced Anarkalli Aakarssha the celebrity Sri Lankan film and tele drama actress, beauty queen, model cum ...
Government agencies are among the most complex organisations in nearly every country in the world. They often are large, have multiple objectives, and face increasing demands to deliver more services at a lower cost. As a result of this complexity, a government is faced with many organisational issues, including: redesigning their organisations and their interaction ...
All Sri Lankan universities except for the medical faculties have been closed down, but for most citizens, who have observed crisis after crisis in the education sector, this latest development is nothing new. The big difference is currently it is the university teachers who are on strike, not the students. The teachers’ main demands are: ...
The SAFA-CMA Management Accounting Summit 2012 held in June this year revolved around the theme ‘Corporate Social Responsibility and Sustainability Practices,’ of which the highlight was the final session of the two-day summit, the CEO and CFO Forum. The panel featured Dialog PLC Group CEO and Managing Director Dr. Hans Wijayasuriya, John Keells Holdings Finance ...
Transparency International Sri Lanka (TISL) yesterday called upon the government to take necessary actions to resolve the present situation at the Securities and Exchange Commission (SEC) in a manner that will not negatively impact on market confidence.
With a new Head being appointed to the Securities Exchange Commission (SEC), Transparency International Sri Lanka (TISL) yesterday in a statement reiterated that effective regulations, embodying international best practices and strict enforcements are essential features of a sustainable, vibrant and investor confidence building stock exchange, which yields commensurate returns to all market partic...
The Colombo Bourse yesterday gathered further strength with high volume of trades on the back of active retail play as well as select buying by institutional investors all of which propelled market capitalization back to Rs. 2 trillion, a level last seen 4 months ago. Shunning reservations by some, signs of revival in the stock ...
The Central Bank of Sri Lanka is hosting the 22nd Asian Credit Supplementation Institution Confederation – Annual Training Program (22nd ACSIC – ATP) on 03rd and 04th of September 2012 at the John Exter International Conference Hall, Central Bank of Sri Lanka, Colombo. Central Bank of Sri Lanka has been a member of ACSIC from ...
Forty Sri Lankan students who followed the Buckinghamshire New University MBA at Sri Lanka Institute of Marketing (SLIM) have graduated this year and the graduation ceremony will be held on 5 September at the Buckinghamshire New University (UK). Commenting on the outcome, SLIM President Tilan Wijeyesekera said he was extremely happy with the progress that ...
One of India’s largest business forces, the Mahindra group announced last week its plans to increase market share in Sri Lanka. The $ 15.4 billion Mahindra Group already has a presence in the automobiles and tractors industry, but is now planning to enter into two-wheeler, aerospace and vehicle finance. The title sponsors of the Sri ...
By Cheranka Mendis The fourth edition of Lanka Challenge is now underway with 45 foreign participants making their way to Jaffna in three wheelers. Organized by Large Minority, in the challenge popularly known as the ‘tuk’ or ‘three wheeler’ challenge, it is the first time that participants are taken to the northern quarter of the ...
By Cassandra Mascarenhas The Government eServices project spearheaded by the ICT Agency of Sri Lanka celebrated a landmark achievement last evening, launching 22 important eGovernment services, further strengthening the country’s Government sector by making public services easily accessible to the citizens of Sri Lanka via the internet and mobile communication systems. Presidential Secretary...
The Planters’ Association of Ceylon, the representative body of the island’s corporate plantation sector lauded the Regional Plantation Companies (RPC’s) which secured awards at the first ever National Plantation Awards held at Temple Trees recently. The ceremony saw a total of 86 outstanding performers including smallholders, manufacturers, exporters and RPCs receive awards from...
A recent briefing for the press on a recent cabinet meeting and the decisions taken referred to the introduction of legislation to regulate microfinance institutions to ensure financial stability in that sector. This is the third attempt to have draft legislation prepared. The first attempt was totally rejected by stakeholders in the microfinance sector. At ...
Last week I met up with some key business people from Indonesia, which does heavy trading with China on the basis of subcontracted business, and is now attempting to diversify its business due to the volatility of the Chinese economy. This made me conduct some research on the Chinese economy. The findings highlighted the need ...
Industry veteran Prema Cooray was bestowed with the ‘Legend’ status at the fifth Sri Lanka Tourism Awards. Among his key achievements were leading and developing Sri Lanka’s premier hotel chain Aitken Spence (1984 to 2003); and taking Sri Lanka’s hospitality expertise overseas to the Maldives in 1991and building the first-ever resort (Club Rannahli) by a ...
At the fifth Annual Sri Lanka Tourism Awards 2012, The Blue Water was crowned as the ‘Best MICE Operations – Conference Hotel of the Year 2011’ by the Sri Lanka Tourism Development Authority at a glamorous ceremony held in Colombo on 30 August 2012. The hotel, with facilities for events and weddings, opened its Grand ...
Reinforcing its supremacy John Keells Holdings Group bagged most of the major titles in an impressive haul of 12 in the fifth annual Sri Lanka Tourism Awards presented last week. JKH Group’s Cinnamon Lakeside won the best five star city hotel whilst its Cinnamon Lodge Habrana bagged the best five star resort award. Group entity ...
The Securities and Exchange Commission (SEC) is likely to get a new Commissioner following the Government's decision to make a change as opposed to the previous move. A Finance Ministry official confirmed there has been a change but didn’t give details. Previously Pricewaterhouse-Coopers Partner and former Ex-Officio Commissioner Sujeewa Mudalige was named among new appointees ...
Nihal Sri Ameresekere’s 11th book in a series of books, ‘Overseas corporate structures, which hide ‘real owners’ (published by AuthorHouse), documenting revelations in real case studies and dealing with subjects of corruption, fraud, economic crime, governance, and the rule of law, discloses in incisive detail strategies and facts, as to how real owners of assets ...
A number of measures to promote bilateral trade between Sri Lanka and Nordic countries will be adopted in the year ahead, revealed Majid Awn, President, Sri Lanka Nordic Business Council of the Ceylon Chamber of Commerce addressing the Annual General Meeting of the Sri Lanka – Nordic Business Council (SLNBC) held at the Ceylon Chamber ...
MS Technologies (Private) Limited was honoured with the Microsoft ‘Best Public Sector Partner of the Year’ award at the recently-held Microsoft Sri Lanka Partner Awards 2012. The event was held on 3 August 2012 at Waters Edge, and the award was received by Padman De Silva, CEO of the company. M S Technologies, which has been ...
The University of Southern Queensland (USQ) MBA programme offered by the Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has received a tremendous boost with a new specialisation incorporated for the benefit of the new intake which will commence in September 2012. With intake commencing from September, the USQ ...
CEO of Kantar Eric Salama is scheduled to meet with local business leaders, hosted by LMRB, a fully-owned subsidiary of the Kantar Group, on Tuesday 4 September 2012 at The Earl’s Court, Cinnamon Lakeside, Colombo. Kantar, WPP’s information, insight and consulting division Group UK, is engaged in providing insight and consultancy services around the world ...
SEC is not a mere watchdog After the recent Securities and Exchange Commission of Sri Lanka fiasco, the media and many analysts, calling it the ‘watchdog’ of the securities market, had expressed the wish that it should remain a mere watchdog. Some had even found fault with the former chairpersons of the SEC that they ...
Placed amidst of wave of opportunity, today Sri Lanka is poised for exponential growth and sustainable economic development. In this context of emerging national prosperity, exports irrefutably play a pivotal role in driving the much anticipated economic progress. Exports are the main foreign exchange earners for the country and present many prospects for growth and ...