Whilst expressing confidence over the outlook for 2012 the Central Bank in its 2011 Annual Report says that the key challenge facing Sri Lanka in 2012 is managing the numerous risks arising from global developments. It said given the uncertain outlook for global commodity prices, especially oil, the challenge ahead would be to maintain inflation ...

Economic Development Minister Basil Rajapaksa yesterday said that Mahinda Rajapaksa Government has achieved highest economic growth in Sri Lanka’s post independence history and has brought stability to the economy within a short period of time of after the defeating of terrorism. This statement Minister Rajapaksa made at the Economic Planning Review meeting held at the ...

Whilst expressing confidence on the outlook for 2012 the Central Bank in its 2011 Annual Report said there are several  immediate challenges facing Sri Lanka. Here are some key highlights of Central Bank’s recommendations Diversification of export products and markets Higher foreign inflows A price mechanism for oil Energy conservation and efficiency Labour market and ...

SINGAPORE (Reuters):Singapore’s central bank is expected to keep monetary policy on hold on Friday and allow the local dollar to rise at a “modest and gradual” pace against other currencies to help combat persistent inflationary pressures. All 16 forecasters polled by Reuters expect the Monetary Authority of Singapore (MAS) to stand pat when it issues ...

Central bank Governor says country is targeting per capita income of $4,000 by 2015Ajit Nivard Cabraal is a man intimately associated with the economic development of Sri Lanka. Well before he became the Governor of the Central Bank of Sri Lanka, in 2006, Cabraal was the chief economic adviser to President Mahinda Rajapaksa, who was ...

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 ...

Deals worth $ 12.1 m under negotiation “An invaluable learning curve for Sri Lanka’s international trade scheme,” says Rishad The recently-concluded Expo 2012 was a successful event, coming after a lapse of 15 years. “Expo 2012 garnered confirmed orders to the value of US$ 66,090 and currently orders under negotiation amount to US$ 12,110,315. There ...

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 ...

Parliamentary accountability The Parliament, as the country’s foremost representative institution, has the sole authority over national resources and financial allocations and concurrently has a prominent role to play in fiscal responsibility, the budgetary process, economic development and effective transparent economic and financial management, with a view to assuring sustainable growth an...

In the wake of Expo 2012’s successful tourist draw, Sri Lanka is mulling joint tour packages with Maldives. “Combining Maldives’ ocean gateway and attractive beaches with Sri Lanka’s diverse, multifaceted inland tourism can lead to mutual benefits for both countries” said Minister of Industry and Commerce Rishad Bathiudeen who announced this to Minister of Economic .....

Following are excerpts of an interview with Sri Lanka Tourism Chairman Dr. Nalaka Godahewa on tourism investment facilitation Q: Sri Lanka Tourism Development Authority has set up a ‘one stop shop’ for investment facilitation since late 2010. How does this fit into the role of tourism? A: When the five-year Master Plan for tourism development ...

Let’s accept it, Sri Lanka made a statement to the world that we are open for business with Expo 2012, even though it had its limitations like the faulty air conditioner at the launch that grabbed media attention. Whilst some can say that the shine was taken off the event due to the very uncomfortable ...

The Secretary of Defence and Urban Development Gotabaya Rajapaksa was invited as a Guest of the Government of Japan in order to interact with the key political leaders, senior technocrats and cabinet ministers. Secretary Rajapaksa, on the day before he left to Colombo, met Minister of Education, Culture, Sports , Science and Technology Hirofumi Hirano; ...

Expo 2012, organised by the Export Development Board, provided an ideal opportunity to Sri Lanka Tourism industry to promote its product to the international market. At the end of the event, Sri Lanka Tourism Promotion Bureau (SLTPB) had been able to achieve its targets successfully. The stall of the SLTPB was one of the eye ...

A large group of Indian businessmen are visiting Sri Lanka Expo 2012. According to Export Development Board officials, Indian participation is one of the largest in Expo 2012, with participation of over 200 business visitors. The participation of Indian business delegation in Expo 2012 is being supported by the Confederation of Indian Industry (CII), Southern ...

By Cheranka Mendis While Sri Lanka’s largest mega trade, investment and tourism promotion initiative ‘Expo 2012’ has been welcomed by stakeholders as a timely affair, stallholders shared mixed feelings on the order of the show. Some were elated having received inquires just two days into the event, while others expressed disappointment with regard to the ...

Ebert Silva, a pioneer in the field of travel and tourism in Sri Lanka passed away on the 28 March at the age of 79. Ebert Silva gave life to an important and glorious chapter of Sri Lanka’s transport, tourism and motoring history with the name being synonymous with the industry. Continuing the business his ...

A new Air Services Agreement between Sri Lanka and the Russian Federation was signed at the Ministry of Transport of Russia in Moscow on 26 March. Sri Lankan Ambassador in the Russian Federation Udayanga Weeratunga signed the Agreement on behalf of the Government of Sri Lanka while Deputy Minister of Transport of the Russian Federation ...

By Cassandra Mascarenhas Sri Lanka is ripe for investment and should exploit its strategic location to attract more foreign investment, while not losing focus on its traditional markets were the general views expressed at the Expo 2012 Symposium on Trade, Investment and Tourism. Held yesterday, the symposium featured a line-up of representatives of many sectors, ...

Addition from the success of Expo 2012, Sri Lanka Tourism witnessed the one to one meetings between the Sri Lankan and Foreign Tour operators achieving the expected goals. These meetings provided an excellent opportunity for local travel agents to cooperate with their international counterparts and thereby to develop and promote the products.

HSBC has partnered the Export Development Board (EDB) to be the Principal Sponsor – Banking Sector of the Sri Lanka Expo 2012, which began yesterday at the BMICH. It is on until Saturday from 10.a.m. to 8.p.m. The premier international trade fair aptly themed ‘Partnering with the Hub of Asia’ is expected to attract over ...

The Institute of Policy Studies of Sri Lanka (IPS) and the Embassy of Vietnam in Sri Lanka have organised a seminar on:  ‘Exploring the Potential for Sri Lanka-Vietnam Economic Cooperation’ to coincide with Sri Lanka Expo 2012. The event will take place on 30 March at the IPS Auditorium.   The seminar will focus on ...

The Expo 2012 show that commenced yesterday highlights Sri Lanka’s export products across more than 20 sectors. “Expo 2012 is a viable platform for UAE to identify the export product portfolio of Sri Lanka. In fact, we did not know that Sri Lanka has such a huge export portfolio until today,” said Rashid Al Telaji, ...

President Mahinda Rajapaksa yesterday assured that Sri Lanka will not allow forces of separatism and terror to raise their ugly heads again but was pursuing a path of peace and reconciliation. “As you can see at this event and as you travel freely in our country and also as you interact with your business partners ...

With the recent relaxing of the rupee exchange rate and subsequent increase in fuel prices, trade unions and the opposition parties are conducting protest campaigns against the Government, demanding a reduction in oil prices and the cost of living. This article investigates the living conditions of citizens in the recent past and present, quality and ...

One of the key aspects of the ongoing EU SWITCH-Asia Greening Sri Lanka Hotels Project is to publicise the good work done by Sri Lankan hotels towards energy and environment conservation. As a part of this program, Greening Sri Lanka Hotels Project together with two selected SME hotels; Hotel Clarion, Colombo and The Swiss Residence, ...

The Embassy of the Democratic Socialist Republic of Sri Lanka in Rome has announced that as a result of the promotional drive launched few months back, it has been able to organise a 48-member delegation from Italy and Cyprus to visit Sri Lanka for EXPO 2012 from 28 to 30 March 2012. The delegation consists ...

Sri Lanka Expo 2012 will kick off from 28 to 31 March at Sirimavo Bandaranayke Memorial Exhibition Centre of BMICH, under the theme ‘Partnering with the Hub of Asia.’ This event will be organised by the Export Development Board. Having foreseen the importance of Expo 2012 to promote Sri Lanka as a destination, Sri Lanka ...

NDB‘s contribution to infrastructure development has been substantial during the last three decades. Having garnered the experience and expertise to cater towards the development process in Sri Lanka, NDB continues to focus on this vital component providing the necessary support that will help towards economic development in the country. NDB CEO Russell de Mel says, ...

After having worked for the private sector in some of the best multinationals in the country, when I decided to serve the country in the public sector, many warned me on the inefficiency of the Government agencies of Sri Lanka. But having worked on a full time basis for three years in the Government and ...