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The country has entered into an era that was not witnessed for past 25 years. Growth rates of the economy cannot even be compared during this period as the ground situation in micro terms have changed drastically that was never before during a quarter of a century. The volatility and events of macro factors make ...
Ever since the first aircraft was conceptualised by Leonardo Da Vinci, the dream of flight is still continuously evolving. The latest aircraft is known as the dream liner Boeing 787. There has been no end to the technological advances in aviation. The global aviation industry has since been enlarged into a multibillion dollar business and ...
Tea is our pride, for which we can be proud of for the reason that it is the best tea on the globe. It is the duty of every Sri Lankan, especially the diplomatic missions worldwide, to defend and promote our silver inherited as much as the beauty of Sri Lanka which is matchless. Sri ...
BANGKOK: Collective international arrivals into Asia Pacific1 destinations grew by 4% year-on-year during April 2012, according to preliminary data released last week by the Pacific Asia Travel Association (PATA). In percentage growth terms, this result was relatively constrained across the region compared to the robust expansion achieved during the first quarter of the year. A ...
The 18th Annual General Meeting of the Sri Lanka-Malaysia Business Council was held at the Ceylon Chamber of Commerce recently. The council, which focuses on the objectives of ‘promoting investment, trade and joint ventures between Sri Lanka and Malaysia,’ functions under the aegis of the Ceylon Chamber of Commerce. High Commissioner for Malaysia in Sri ...
The Pathfinder Foundation (PF) welcomes IMF Country Director Dr. Koshy Mathai’s call for increased exports to India and China. Dr. Mathai, in his keynote address at the Annual General Meeting of the Exporters’ Association, stressed two interlinked themes that have been the subjects of several previous Economic Flashes and Economic Alerts: the decline in Sri ...
Playing off India against China and vice versa‘The Great Game’ was the name given to a diplomatic and military tussle between the British and Russian empires during the time of the British Raj in India for influence over what constitutes today’s central Asian states. Commonly known as the ‘Stan states,’ they were located along the ...
Diversified blue chip Aitken Spence Plc has reported a pre-tax profit of Rs. 918 million for the first quarter, a growth of 25%, over the previous year, while the Group’s revenue rose by 54% to Rs. 8.61 billion. Earnings per share for the quarter stood at Rs. 1.58, an increase of 16% over the corresponding ...
Indo-Sri Lanka relations have always been interesting not only because of their implications but also given the way in which they change. Economic relations have always been important because India is Sri Lanka’s largest trade partner and the visit of the Indian Commerce Minister together with 105 company representatives has opened new opportunities for the ...
Saffron Aviation Ltd., a joint venture between John Keells Holdings PLC (JKH), MMBL Leisure Holdings Ltd., and Phoenix Ventures Ltd., yesterday signed an agreement with the Board of Investment (BOI) to establish a domestic air taxi service in Sri Lanka with an initial investment of $ 6.8 million out of a total planned investment of ...
A recollection of collective victory The Sri Lanka Export Development Board (EDB) celebrates its 33rd anniversary in August 2012. EDB deserves a high degree of praise for its remarkable contribution made toward the socioeconomic development of the country, the key national institution for export development and promotion during the last 33 years, sharing its responsibility ...
“Did you really have to tell the whole world you were in a bad mood?” Kuraishini Navaratne, a friend, e-mailed from Turkey. “It’s the Olympics, man, cheer up!” she admonished. Can the Olympics cheer me up? Tuned into the games to find out. Watching Queenie jump off a helicopter was too much to handle but ...
Presently Sri Lankan software has been exported to regions such as North America, EU, Australasia and East Asia. With the recent global financial slow down, most of the matured software markets are not as vibrant as earlier for the software products and services. Considering this fact, EDB has identified developing regions of the world as ...
Every country must have a socioeconomic model for developing the country and achieving sustainable growth and prosperity. The function of a sound model is to transform aspirations into reality by identifying all that needs to be done to achieve the aspirations. What is prosperity? What do we mean by prosperity for a country? My ...
Economic Development Minister Basil Rajapaksa recently hailed the substantial support for socio-economic development in Sri Lanka from Finland. This was emphasised when Finland’s outgoing Ambassador to Sri Lanka Terhi Hakala paid a courtesy call on Minister Rajapaksa. “Finland has generously assisted Sri Lanka over the years in country’s economic and social development drive. It ...
Economic Development Minister Basil Rajapaksa yesterday found opportunity in a meeting with UK Parliamentarians to woo more investments and trade with British firms. “Many opportunities are available in Sri Lanka in trade and investment for the British business community. The time has come for Sri Lanka and the United Kingdom to build a strong economic ...
Reuters: British tourism chiefs hope the Olympics and a global advertising campaign will entice more overseas visitors by 2015 and more than compensate for any short-term losses as the country tries to dig out from a double-dip recession. Tourism Minister John Penrose said the 2012 Olympics had given Britain the chance to re-establish itself as ...
SriLankan Airlines recently flew a delegation of creative professionals, along with special Sri Lankan made fashion, design and craft exhibits from Colombo to London, to launch the 2012 edition of the Sri Lanka Design Festival (SLDF). London, positioned as a world creative hub, is also a central business point and home to some of the ...
T20 tourney to take up over 7,000 room nights in lean tourism season; bring in over Rs. 130 m revenue for hotels Destination Sri Lanka to get a fillip via global TV coverage The inaugural Sri Lanka Premier League (SLPL), ready to kick off in two weeks’ time, is expected to give a big boost ...
The Foreign Minister of Pakistan Hina Rabbani Khar will be visiting Sri Lanka from 1st to 3rd August, 2012, at the invitation of Sri Lankan Foreign Minister Prof. G.L. Peiris. During her three day visit, Hina Rabbani Khar will call on the President of the Socialist Republic of Sri Lanka, Mahinda Rajapaksa and will also ...
A Memorandum for Co-operation between the Chinese People’s Association for Peace and Disarmament (CPAPD) and the Pathfinder Foundation (PF) was signed yesterday in Colombo. The Memorandum was signed by CPAPD Deputy Secretary General Chen Huaifan and Executive Director Luxman Siriwardena on behalf of the PF. The event was witnessed by Pathfinder Foundation Founder Milinda Moragoda, ...
Tourism industry official cum professional Dileep Mudadeniya in his personal capacity has released a book on Sri Lanka’s hosting of the International Indian Film Academy Awards (IIFA) in 2010. Titled ‘IIFA: The Other Side,’ the book in Sinhala, Dileep’s first, recaps the efforts which went in to it, the challenges faced and its success, in ...
Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets are well aware of the risk-return tradeoff intrinsic to these markets. Low ...
An important feature of the recent Sri Lanka Economic Summit, which both the Guest Speaker Gurcharan Das, Author, Columnist and Management Consultant and Keynote Speaker Dr. Kalpana Kochar, Chief Economist – South Asia of the World Bank, referred to were the opportunities presented to Sri Lanka by the ongoing process of globalisation and particularly the ...
The much-awaited meeting between President and Finance Minister Mahinda Rajapaksa and capital market stakeholders yesterday was described as “very positive” by most, though some disagreed. Conflicting emotions over the outcome were expected since there was much heat generated before the meeting by various parties including the regulator. President Mahinda Rajapaksa chairs the meeting w...
By B.A.B. Goonetilleke Sometime in 2009, in what was to become a defining moment in the new Digital Age, Bradley Manning, a 24-year-old Army private based at an outpost in Iraq, began to download a veritable trove of classified cables dispatched by US missions around the world on to a thumb drive. Whether Manning stepped ...
Reuters: Sri Lanka now expects 2012 tea production of around 325 million kg, below its target of 330 million kg, as output has fallen in the last five months due to drought, the State-run Tea Board said. Tea production in the first half of the year fell 4.3 per cent year-on-year to 163.26 million kg ...
A port city is an extension to the port, in order to acquire the advantageous facilities of the port and the port background to shape up the environment of the city surrounded by port. This is not a novel concept where many countries are adapting this principle to achieve their economic and leisure goals. Baltimore ...
Sri Lanka Tourism in collaboration with Ebert Silvas’ offer special luxury packages for both foreign and local tourists to view the Kandy Esela Perahera, known to be one of Asia’s most spectacular cultural pageants. The packages are organised to view both Kumbal and the Randoli Peraheras from 23 July to 1 August. The Esala Perahera ...
During the long war, the Government was preoccupied with financing and fighting it. The Private pector was burdened with uncertainty about the future. Now with the war behind us, we must examine and debate strategic options for developing our country. One of the key options is pursuing a globalisation strategy. CEPAs and FTAs are variations ...