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Expresses confidence on working with Sri Lanka to meet rising needs in ship building and repairing By Harsha Udayakantha Peiris The President of the Republic of Seychelles James Alix Michel, currently on visit in Sri Lanka, made a special courtesy call at Colombo Dockyard PLC yesterday. The President was accompanied by Minister of Fisheries and ...
Sri Lanka’s leading fashion brand and menswear specialist Hameedia recently had the unique honour of clothing celebrated international superstar Maxi Priest both for his Sri Lanka concert and his forthcoming music video. Famed around the world for his unique style of singing and his two hit songs ‘Close to You’ and ‘That Girl’, Maxi Priest ...
Aims to become Colombo’s leading sustainable city hotel by 2015 By Cassandra Mascarenhas Further incorporating sustainability into their processes and business and working towards enhancing the environmental performance of the hotel, the Cinnamon Grand in association with the Switch-Asia programme hosted a ‘green forum’ yesterday in order to enlighten a group of key stakeholders ...
Jerusalem will host the sixth Asian Science Camp (ASC) next week, the most important scientific encounter in the world for young scientists from all over Asia and the Pacific. The Science Camp, or ‘The Summit of Genius’ hosted each year in a different Asian country, is the initiative of a number of Asian Nobel Prize ...
By Andrew Fernando ESPNCricinfo: Considering the sheer number of complications the SLPL has suffered since its inception, it may not be unfair to say that if the SLPL had been a baby, its parents would probably have put it up for adoption. If it had been a racehorse, it would already be glue. If it ...
Sri Lanka's Central Bank believes the rupee can strengthen to around 125 per U.S. dollar due to high foreign inflows into the economy, the head of the country's monetary authority said yesterday.
Reuters: The Central Bank believes the rupee can strengthen to around 125 per US Dollar due to high foreign inflows into the economy, the Head of the country’s monetary authority said of Monday. Since April, the Central Bank and Finance Ministry have repeatedly said the rupee should stabilise at around 125 per dollar, given the ...
As continuously highlighted by the Daily FT and perhaps dumbfounding critics and locals, foreign craving for stocks in the Colombo Bourse is growing, with net inflow surpassing Rs. 28 billion yesterday with the addition of fresh buying worth Rs. 980 million. Non-nationals accounted for 28% of total market turnover with purchases amounting to Rs. 984.2 ...
Fitch Ratings Lanka said yesterday it has affirmed Sri Lanka-based John Keells Holdings Plc (JKH) ‘AAA (lka)’ National Long-Term rating at a Stable Outlook. JKH is a holding company with ownership of diverse operating assets; key sectors within which its investments operate include transport, leisure, consumer foods manufacturing and retail, financial services, and information technolo...
Reuters: The International Monetary Fund on Monday raised concerns over the resignation of the Head of the Securities and Exchange Commission ilak Karunaratne, observing that the regulator had been taking the right steps to ensure market participants obeyed the rules. “It is sad to see the SEC lose yet another strong chairperson, and in such ...
A high-level 15-member delegation from the Republic of Seychelles arrived in Colombo yesterday on a three-day visit. Led by President of Seychelles James Alix Michel, the delegation will comprise, among others, Minister of Foreign Affairs Jean Paul Adam, Minister of Natural Resources and Industry Peter Sinon, Delhi-based High Commissioner of Seychelles to Sri Lanka Waven ...
Xinhua: Sri Lanka said today that it will challenge the recent travel advisory issued by the UK Foreign and Commonwealth Office (FCO) warning the Britons over an upsurge of nationalism, sexual offences and anti-western rhetoric in the country. Secretary of External Aff-airs Ministry Karunathilaka Amunugama has said that the government will take up the matter ...
Global Media Networks Ltd. (GMNet) has unveiled a Colombo Stock Exchange-based free game simulator VstoX Colombo Virtual Exchange (www.vstox.com) with a view of introducing a virtual simulation to investors on the Colombo Bourse’s activities for the first time in Sri Lanka. VstoX integrates the real life order placement system, commonly known as ATS (Automated Trading ...
Heritance Ayurveda Maha Gedara emerged the most energy efficient hotel in Sri Lanka by winning the highest accolade awarded in the large scale hotel sector at the Sri Lanka National Energy Efficiency Awards 2012 which concluded recently. This is the second consecutive year that Aitken Spence Hotels has been recognised at the awards. Last year ...
Nearly 50 stocks had gained by over 10% in the past month Three solid stocks gives over 23% year-to-date return against near 20% dip of the market If the general investing and savings public believes the Colombo Stock Exchange isn’t attractive, then nearly 50 stocks are likely to prove this incorrect, especially given their performance ...
The Colombo Bourse’s most commendable achievement this year has been the fact that foreign investor confidence is growing, despite scepticism by locals over various issues within and outside the market. So far this year, the net foreign inflow of Rs. 27 billion is encouraging in the context that in 2011 the outflow was Rs. 19 ...
March TIFA talks in Colombo ‘very important to US’ – Weinstein US looking to triple bilateral trade and FDI with SL by 2017 The US wants to explore new opportunities in resurgent Sri Lanka to boost bilateral trade levels to high levels through a new round of initiatives. “Lots of good things are happening here. ...
President of Seychelles James Michel will arrive in Sri Lanka today for a three-day official visit. During his visit from August 20-23, President Michel will meet President Mahinda Rajapaksa and hold bilateral discussions. On Tuesday (21) President Michel will deliver a lecture on ‘The Role of the Small Island State in the Global Tapestry’ at ...
Hatton National Bank (HNB) PLC MD/CEO Rajendra Theagarajah was conferred with the award for ‘Outstanding Contribution to the Banking Industry’ in recognition of the valuable services rendered to the Banking industry by the Council of Association, at the 24th Anniversary Convention of the Association of Professional Bankers Sri Lanka held on 13 August at the ...
IN a challenging economic environment, tourism is Sri Lanka’s lifeline to development. However, increasing political tensions, crime rates and stand-offish Government policy is threatening to choke this much-needed revenue. Sri Lanka has decided to challenge a British Government travel advisory warning Britons over an upsurge of nationalism, sexual offences and anti-Western rhetoric i...
Fitch examines financing alternatives to the current predominant international borrowingsBy Cassandra Mascarenhas Discussing new investment opportunities and financing structures for Sri Lankan private sector entities to enter the current government dominated infrastructure financing in the country, Fitch Ratings Lanka hosted a seminar titled ‘Fitch Perspectives’ last week, featuring F...
By Nisthar Cassim Tilak Karunaratne yesterday resigned as the Chairman of the Securities and Exchange Commission (SEC), a move which he had pre-announced early this week and personally decided last weekend. “I am leaving the SEC as a sad but relieved man,” Karunaratne told the Daily FT before dispatching his two-page letter of resignation to ...
The Sri Lanka Institute of Directors (SLID) has joined the chorus for greater independence at the Securities and Exchange Commission (SEC) by issuing a statement urging the Government to act appropriately. The SLID statement is as follows: The Sri Lanka Institute of Directors (SLID), which has the furtherance of corporate governance as its foremost objective, ...
The Government will extend help to local investors who are keen to start joint ventures with foreign firms in the proposed pharmaceuticals hub. The move was revealed by Economic Development Minister Basil Rajapaksa when a delegation from the Pharmaceuticals Export Promotion Council of India called on him Thursday to discuss about setting up of a ...
MUSCAT: With the country’s highly favourable socio-economic scenario and thriving trade and commerce vistas, Sri Lanka is all set to explore the possibilities of working very closely with the Sultanate of Oman in various terms. One of the first in the series of exploring opportunities will be the ‘Sri Lanka Trade Fair and Food Festival’ ...
Minister of Education Bandula Gunawardena says that Korean language would be introduced in the school curriculum and the subjects would also be introduced for the G.C.E. Ordinary Level and Advanced Level examinations. The Minister expressed these plans when he launched the Korean language teacher training program at the National Institute of Education yesterday. Under the ...
Sri Lanka’s premier internet source for presenting Islamic content is now online at www.slhub.com. slhub.com features the weekly Jumuah schedule, up-to-date Islamic event listings plus audio and video live streaming of selected local and overseas lectures. Visitors to the site are also able to access a publication repository for Islamic and informative articles, listen to ...
Inflation, hyper inflation and chronic inflation Inflation, as understood by the unsuspecting citizen, is the rising cost of prices over a period of time. This interpretation is far from satisfactory. It is high time people were educated as to the real causes of inflation. Dissecting the inflationary causes would be a difficult task for an ...
13th August 2012 Hon. Susil Premajayantha, M.P. Minister of Petroleum Industries No. 80, Sir Ernest De Silva Mawatha Colombo 7. Dear Minister, Purported oil hedging deals by Ceylon Petroleum Corporation (CPC) SC (FR) Applications Nos. 404/2009 & 481/2009 and purchase of petroleum oil of questionable quality I refer to my letter dated 4.5.2010 forwarding copies ...
Brand Finance’s Annual Global Nation Brand Analysis Prologue Over the past three years, nation branding has received an enormous amount of coverage in Sri Lankan newspapers. Whilst some of these are based on the need to provide a marketing approach to building a nation, and its brand; many of the articles focus on developing a ...