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News reports point to an important decision that the minister concerned has been requested to make on the above subject. If this is correct it is important that we recognise that it is more than a million dollar decision that has been called for. It is so important a decision because it could determine the ...
Sri Lankaandrsquo;s banking watchdog - Central Bank is expecting to increase foreign reserves in 2012 and narrow the current accounts deficit in the balance of payments, despite strong capital inflows, which will increase domestic spending power.
With open economic policies, the health sector in Sri Lanka has shown a significant development during the last few years. With the increasing population, which has now reached 20.8 million, there was a dire need for the country to improve her healthcare facilities and this requirement is now being fulfilled by both public and private ...
Dialog Axiata PLC announced yesterday that the depreciation of the SrI lankan Rupee relative to the USD by 12.4% QoQ, resulted in the provisioning of a non-cash translational Foreign Exchange loss of Rs 2.1Bn, leading to the Dialog Group recording a Net loss of Rs 531Mn for Q1 2012. andnbsp;
Mr. Thilak Karunarathne Chairman, Securities Exchange Commission,Colombo. Dear Sir, Re: SEC inquiry connected with the stock exchange transaction where the National Savings Bank acquired shares of The Finance Company I wish to hail your expressed commitments to initiate with urgency a comprehensive inquiry connected with the stock exchange transaction where the National Savings Bank acquired ...
Speaking to over 200 foreign delegates at the biennial Dilmah Tea Global Distributor Conference in Colombo on recently, Treasury Secretary Dr. P.B. Jayasundera outlined the way forward for the Sri Lankan tea industry
Even as prices of several essential items saw monumental increases last week, Central Bank Governor Ajith Nevaard Cabraal assures the country that inflation is at an all time low, foreign reserves are adequate and the Sri Lankan economy is sounder than ever.
In the run-up to the vote on the controversial United Nations Human Rights Council resolution on Sri Lanka, countryandrsquo;s bourse andmdash; the Colombo Stock Exchange (CSE) showed marginal declines
Sri Lankaandrsquo;s bourse- Colombo Stock Exchange (CSE) and the countryandrsquo;s capital market watchdog - Securities and Exchange Commission of Sri Lanka (SEC) recently amended provisions relating to the listing of public companies on the Colombo Stock Exchange
By Patricia A. Butenis The 20th century American politician Thomas “Tip” O’Neill once famously said that “all politics is local”. That was often true of the news in the last century as well. With the advent of so many technological changes, however, the truism for information in the 21st century has become “all news is ...
The highest oversubscription ever seen for a Sri Lankan international bond in April and KPMG’s latest positive Change Readiness Index ranking for Sri Lanka show the growing international investor confidence in the country, which prefers patient investments to hot money. “Sri Lanka has entered a new era of development thanks to the visionary leadership of ...
VESAK is the festival of light. Yet this year it seems that the lights will have to be dimmed to reflect the reduced lustre of the country’s economy. As the Power and Energy Ministry organisers raffle draws for people who save electricity during the upcoming religious season there are many other efforts happening behind the ...
Colombo Page: The Sri Lanka Army has strongly denied a UN report that said unexploded cluster munitions have been found in northern Sri Lanka indicating the military’s use of cluster bombs during the war with the Tamil Tiger terrorists. The Army has noted that the military had not used cluster bombs and that cluster munitions ...
The Colombo stock market yesterday produced a late rally following the removal of the 10% price band by the Securities and Exchange Commission (SEC). The market’s value swelled by Rs. 41 billion whilst main All Share Index gained by 2% or 111 points as sentiments of investors and brokers got a boost following the regulatory ...
Reuters: Pakistan officials are hoping this month’s mini home series against Bangladesh will finally convince neighbouring India to renew bilateral cricket ties between the two Asian cricket powerhouses. Bangladesh will become the first foreign team to play full internationals in Pakistan since March 2009 when Sri Lankan cricketers and officials were attacked by gunmen in ...
Despite being Asia’s worst performer, there is some news for cheer as the Colombo Bourse has achieved the milestone of over half a million local individuals dabbling in shares though not regularly. The total operative CDS accounts of local individuals by end March grew to 500,198, thereby crossing the half a million mark for the ...
Last Sunday when the unknown Ajinkya Rahane scored 103 runs off just 60 balls at the M. Chinnaswamy Stadium in Bangalore, which helped the Rajasthan Royals to score a massive 195 runs at IPL season five, my mind went to just one ethos the IPL is all about – highlighting performance. It is how IPL ...
On 30 March, Cunard Line’s latest luxury cruise vessel MV Queen Elizabeth made her inaugural call to Colombo, marking the third inaugural vessel call to Colombo made by the cruise liners operated by the parent company Carnival UK within the first quarter of 2012. The vessel left Southampton on 10 January this year and is ...
News Butterfly, the unique TV programme from the US’ FOX news network, is now filming in Colombo for an exclusive segment on Sri Lanka’s new upswing. News Butterfly Market Place (NBMP) is described as a ‘unique women’s movement on TV’. According to NBMP, ‘the programme is a TV Channel venture for beautiful and talented women ...
The challenges Sri Lanka has to face in its march towards development are manifold. Although the war has ended the wrong political ideologies, the proposals and timetables it created are still in operation. By Government Information Department Additional Director General Chandrapala Liyanage Similarly, various social activity groups and individuals and organisations operating under the advice ...
By Cheranka Mendis Even if the status of the world economy seems to have found a rather fragile equilibrium with Europe over the past six weeks, the world is no closer to being immune from the risks that have cropped up as a result of the European and USA led recession and changes in world ...
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
Arab News: RIYADH: Saudi businessmen have evinced immense interest in attending the upcoming the Sri Lanka Expo 2012 scheduled from 28 to 30 March in Colombo, Sri Lankan Embassy’s Commercial Counselor Anil Sirimanna said. The Sri Lanka Export Development Board (EDB) has organised the three-day event being held at the Bandaranaike Memorial International Conference Hall ...
Unity is strength: Let us unite as a nation and a group of likeminded nations in the world Sri Lanka is a senior member Sri Lanka is a senior member of the world family, maintaining high standards of human rights on international standards, which is not an alien system to us. Our culture is based ...
By D.C. Ranatunga “We bear a very heavy responsibility to build up this service with great care, vigilance and intellectual integrity so that the people of this country belonging to different ethnic groups, believing in four different faiths, of diverse economic groups, living in varying environments, urban and rural, with different levels of literacy and ...
My column today is an attempt to focus our attention on a few less spoken or untold developments that may have a profound influence on how we carve our way through in creating a desirable social, economic and political future for mankind on this only planet of ours. While I will not specifically touch on ...
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 ...
By Cheranka Mendis With a membership of 107 top entrepreneurs of the country – among which close to 200 leading organisations is managed providing employment close to 250,000 people – the Chamber of Young Lankan Entrepreneurs (COYLE) is a unique and highly valuable organisation to the country. Taking the mantle of the Chamber from K.H. ...
By Lucien Rajakarunanayake “In the light of this commitment by Sri Lanka, there is no justification or urgency whatsoever in floating a resolution calling for the implementation of the LLRC’s recommendations and engagement with the High Commissioner, when this has already been effectively undertaken by the Government. What we now need from the international community ...
Over the weekend I met up with a cross section of business people, which gave me view of the current climate that exists in corporate world of Sri Lanka. One said that their production plant was closed last week as the cost of production was higher than the selling price given the devaluation of the ...