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The location of Sri Lanka has a strategic significance and this has been proven by the historical trading activities between Sri Lanka and ancient China, Egypt, and the Roman Empire. There is ample evidence to show that Sri Lanka was a main trading hub in Asia. The reasons for occupation of Sri Lanka by the ...
It is with great sacrifices that Sri Lanka brought about a victory against ruthless terrorism, which is certainly a feather in the cap of Rajapaksa family. No one can dispute the fact that President Rajapaksa provided the political leadership and ensured that the LTTE was decimated at any cost. The Tamil diaspora and the pro-separatist ...
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...
With apologies to Francis Bacon whose quote is misquoted but not in essence of what he meant. Bacon’s comment that “reading maketh a full man, conference a ready man, and writing an exact man” is to be seriously looked at today in education and in practice where we appear to falter at every step of ...
Four examples; two bad and two goodThe website of the London Economist newspaper has a reference to an official of a certain country referring to a journalist in words similar to what follows – I have substituted words which would be appropriate to an officer and a gentleman addressing a lady, for what was actually ...
A top level Sri Lanka Ports, Trade and Logistics conference and exhibition will be held from 10 to 11 July at Colombo Hilton, organised by industry specialists Seatrade. The multi-stakeholder sponsored and endorsed event will showcase commercial opportunities and development of South Asia’s new maritime hub and logistics centre – Colombo and Sri Lanka. Seatrade ...
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 ...
The Standard and Poor’s (S&P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable. There are also issues related
Recent newspaper advertisements heralding the birth of a sports economy is indeed good news for sportsmen in general and sports entrepreneurs in particular. Tax exemptions that serve as attractive incentives are a much awaited step in the right direction for a small nation who has time
RIO+20 is the next focus point for the world and as President Mahinda Rajapaksa takes Sri Lanka’s concerns to this international forum, it is perhaps time for a larger discussion on its importance to a developing country as well as the world at large. Twenty years ago, it was mostly people who were displaced by ...
Historically, capital markets have played an important role in the development of market economies and therefore the development of efficient regulation of securities too has become increasingly important. While fostering the development of the economy, the capital markets also play
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
Former Army Commander Sarath Fonseka walked free from jail yesterday with a pardon from President Mahinda Rajapaksa, who appears to have bowed to growing international demands that he release his highest-profile rival while erasing the image of him as a victim. Ex-General Sarath Fonseka kissed his hands and raised them to a group of 2,000 ...
The Employees’ Provident Fund (EPF) yesterday categorically rejected the statement allegedly made by an Opposition Member of Parliament as reported in several news papers on 15 May 2012, where the EPF has been accused of fraudulent transactions in the stock market. "Such statement, read in conjunction with several past statements of a similar nature made ...
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 ...
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 ...
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 ...
A spectacular laser show and water dance taking place Friday and Saturday this week will mark the launch of a major campaign to improve water management. Backed by the International Water Management Institute (IWMI), headquartered in Pelawatte, the campaign, RipplesOnWater.org, will raise awareness about water issues, initially in Sri Lanka and will then spread globally ...
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 ...
As the world decides vote on Sri Lanka on the methods used on the eradication of terrorism in the country, my mind goes back to the December 2008 when three of us were organising the staging of the first Industrial Exhibition in Jaffna so that the north gets connected to south on an economic front. ...
Indeed with some Spanish and Ptolemy’s nomenclature, it is our sincere wish ‘long live Sri Lanka’ on passing its 64th year of independence from the British. Our period of independence is not greater than the period we were under, but that is not something we should use as an excuse for slow progress since independence. ...
Ambassador updates foreign reporters on post-conflict development and reconciliation in Sri Lanka “Sri Lankans support a home grown solution for reconciliation” Ambassador invites international correspondents to visit Sri Lanka WASHINGTON: Ambassador Jaliya Wickramasuriya hosted a group of foreign correspondents here in a January 25 reception held at his residence, prompting a discussi...
International Consultants Chairman Ranjiv Goonawardena had kindly invited the Sri Lanka Tourism Promotion Bureau to participate by showcasing the great opportunity that Sri Lanka has to offer, at the Islamic Real Estate Finance (IREF) Summit and Gala Dinner Awards Ceremony of which it was a sponsor. International Consultants sponsored for the second year the ninth ...
Last week my phone beeped and the text message read ‘The Chairperson of the Security and Exchange Commission Indrani Sugathadasa had resigned citing reasons of values and principles for her resignation’. My mind went back to the time when this lady when she was the Board Director at EDB. Whenever tough decisions had be taken ...
After the recent Commonwealth Games in New Delhi, India, critics found three new words for the acronym ‘CWG’ – Corruption, Waste and lack of Governance. The Chairman of the Indian National Olympic Committee, who was Chairman of the Organising Committee, is presently in Tihar Jail, in Delhi with many of his acolytes, on charges regarding ...
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 ...
The Free Dictionary defines impunity as ‘exemption from punishment or loss or escape from fines’. In the context of the international law of human rights, it refers to the failure to bring perpetrators of human rights violations to justice and, as such, itself constitutes a denial of the victims’ right to justice and to bring ...