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DHL Global Forwarding has announced the launch of additional direct less than container load (LCL) service from Shanghai to Dubai, making it the second direct LCL service to connect China and the UAE. This new trade lane also extends to some other major cities in the Middle East such as Doha and Kuwait City. Dubai-based ...
Reuters: The dynamic growth of golf in Asia has prompted suggestions that the continent merits a major championship of its own but if that does ever happen it will not be as a result of the PGA Championship relocating. PGA officials baulked at the suggestion on Wednesday that their event, widely viewed as the fourth-ranked ...
Reuters: Brent crude fell below $113 a barrel on Friday as a sharp slowdown in China’s trade flows heightened worries about demand for fuel, putting to one side hopes of stimulus measures aimed at lifting global growth that could boost oil use. China’s July exports rose just 1 per cent from a year earlier, undershooting ...
Reuters: India’s industrial output fell for the third time in four months in June, adding to pressure on new Finance Minister Palaniappan Chidambaram to move quickly and pull Asia’s third-largest economy from its worst slowdown in almost a decade. The manufacturing-led slump provided
Supplementary budget worth Rs. 14 b before Parliament Sluggish revenue, high imports widen budget gap; full year target under threat January-April deficit already 61% of 2012 target The Government, already struggling to keep its budget deficit to a size agreed on with the International Monetary Fund, presented a plan for more spending this year, a ...
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
Reuters: Asian shares rose to a three-month high on Thursday after a drop in Chinese consumer inflation left room for more policy easing to support growth, while Australia’s improving labour market kept the country in better shape without stimulus for now. The new data added to growing but still guarded investor optimism that European policymakers ...
By Ashwin Hemmathagama Our Lobby Correspondent The Government has been repeatedly mentioning that the economy is in sound condition and reserves are very securely and lucratively invested. However, UNP MP Ravi Karunanayake moving yesterday’s adjournment motion accused the Government
Nations Trust Bank (NTB) opens the first ‘Nations Business Centre’ in the Eastern Province taking the total number of dedicated Business Centres for SME Customers to five. Key objectives of these centres are to provide a one-stop-shop for our SME customers, increase access to finance and build capacities among SME customers. Through the Nations Business ...
The 2012 Formula 1 Singtel Singapore Grand Prix with its signature mix of lights, glamour, and non-stop action, returns to the heart of the city at the Marina Bay Street Circuit from 21 to 24 September 2012. To witness Asia’s biggest sporting and entertainment event, Singapore Airlines will offer special all-inclusive packages to Formula 1 ...
Says policy measures yielding results, on track to realise macroeconomic targets; inflation a worry though confident of it remaining single digit The Central Bank yesterday kept the interest rate scenario unchanged, saying policy measures taken so far have yielded desired results whilst the country was on track to realise macroeconomic targets. In its post-August ...
Some countries make progress outside U.N. process Progress is slow towards new climate deal Shift needed from targets, penalties to standards CO2 emissions continue to grow LONDON/OSLO: Green economic growth rather than strict targets for cutting greenhouse gases needs higher priority if the world is to reach a deal to fight climate change by a ...
Etisalat Sri Lanka makes solid contribution through growth in local market Abu Dhabi-based global telecommunications group, Etisalat announced a 17% net profit growth on quarterly consolidated revenue of AED 8.252 billion (approx. LKR 296.5 billion). The result was a combination of enhanced network readiness, the introduction of innovative services to drive data growth and increased ...
Reuters: Federal Reserve Chairman Ben Bernanke said on Monday that although broad measurements of the economy point to recovery, many people and businesses are facing tough times. “Even though some key aggregate metrics – including consumer spending, disposable income, household net
The Informatics Group has been a stalwart in the local and International arena in terms of the innovative software and hardware solutions that they offer. Their contributions to the banking, healthcare, finance and telecom industries have served to uplift these industries and maintain them on par with International standards. In fact the Informatics Group was ...
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 ...
Reuters: Asian shares rallied to a three-month high and the euro touched a one-month high against the dollar on Monday, as a stronger-than-expected U.S. jobs data and emerging optimism for European action on the debt crisis bolstered risk appetite. But caution is likely to remain until concrete measures are taken, which may be weeks away, ...
Reuters: US employers in July hired the most workers in five months, but an increase in the jobless rate to 8.3 per cent kept prospects of further monetary stimulus from the Federal Reserve on the table. Nonfarm payrolls rose 163,000 last month, the Labour Department said on Friday, breaking three straight months of job gains ...
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 ...
Presented in partnership with Sri Lanka Design FestivalThe Young Creative Entrepreneur Design and Fashion Award is a British Council initiative offered in partnership with the Sri Lanka Design Festival. This award, originally titled the Young Fashion Entrepreneur Award was revamped this year to include both the ‘Design’ and ‘Fashion’ sectors. The award seeks the ...
By Shanuka Tissera Sumit Ganguly is a Professor of Political Science and holds the Rabindranath Tagore Chair in Indian Cultures and Civilisations at Indiana University, Bloomington. He has been a Fellow and a Guest Scholar at the Woodrow Wilson International Centre for Scholars in Washington DC and serves on the editorial board of numerous boards ...
Reuters: Asian shares and the euro fell on Friday as investors shunned risk after the European Central Bank took no immediate action and only hinted at future steps to tackle the euro zone’s fiscal woes, following similar inaction from the U.S. Federal Reserve. Investors also have reasons to be more cautious ahead of a key ...
Reuters: The inaugural Sri Lanka Premier League (SLPL) represents a golden chance to showcase the island nation to the world, said one of the organisers of this month’s Twenty20 tournament. Sandeep Bhammer, chief executive of the little-known Somerset Entertainment Ventures group that has been given the rights to run the event for 15 years, told ...
Says recently concluded clinical trial provides remedy for symptoms of catarrh, colds and upper respiratory ailments Hidden among the lush greenery away from the hustle and bustle of city life the Link Natural production facility rejuvenates the herbal medicine industry by linking it with new technology while retaining the its roots. From left: Link Natural ...
Emirates’ A380 route network has extended to the Netherlands with the launch on 1 August of services to Amsterdam. Emirates is the first carrier to offer a scheduled A380 service to the Netherlands, after just two years since its first flight to Amsterdam. The double decker will operate as EK 0147, departing Dubai to Amsterdam ...
Sri Lanka has achieved excellent results in its Northern and Eastern rehabilitation and resettlement program and post-conflict economic development drive, a top United Nations official has said. John Ging, the Director of the Coordination and Response Division of the UN Office for the Coordination of Humanitarian Affairs (OCHA) with Economic Development Minister Basil Rajapaksa ...
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 ...
Reuters: US and euro zone manufacturing struggled again in July while factory activity in China hit an eight-month low, surveys showed on Wednesday, as economies worldwide appeared to lose momentum. Economic malaise was worst in the 17-country euro zone, where output plummeted and the manufacturing sector contracted for an 11th straight month as a downturn ...
Reuters: Asian shares eased on Thursday as investors turned increasingly cautious as hopes of stimulus action by central banks thinned ahead of a European Central Bank’s meeting later in the day and after the US Federal Reserve took no action a day earlier. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent ...
Reuters: Shrinking export orders and sluggish output dragged Indian manufacturing growth in July down to its weakest pace since last November, a business survey showed on Wednesday. The HSBC manufacturing Purchasing Managers’ Index (PMI), which gauges business activity at India’s factories but not utilities, fell to 52.9 in July, from 55.0 in June – its ...