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The local arm of the professional body Chartered Institute of Logistics and Transport (CILT) has expressed concern over the manner in which the recent bus fares were increased by the Government. Given the serious implications of the hike as well as the Government’s apparent deviation from the previously agreed method for revisions, the CILT Sri ...
The Colombo stock market is increasingly showing signs of rebirth as its value has risen by Rs. 153 billion in a week after slumping sharply on 2011 Valentine’s Day. Bullish sentiments saw the Bourse up over 2% yesterday with market capitalisation improving by Rs. 41 billion to Rs. 1.987 trillion bringing the total to Rs. ...
‘Let style be your substance’ screams at me from a billboard in Colombo as I find my way through traffic generated by one of our No. 1 imports – motor vehicles. Latest models pass me, blaring their horns in a hurry to get to their destinations and I know that no way are these magnificent ...
Safety and food hygiene of Colombo eating houses quite poor, says CMC’s Chief Medical Officer By Cheranka Mendis Even though Colombo has over 750 eating houses (from five-star hotels to roadside ‘bath kades’), only 290 obtained trade licenses last year, CMC Chief Medical Officer Dr. Pradeep Kariyawasam said. Speaking at the Indexpo food and management ...
For over 120 years the name Mercedes-Benz has guaranteed trucks of highest quality. In the European and Latin American markets Mercedes-Benz Trucks today is still synonymous with reliability and economy, first-rate quality in product and service as well as global competency in customer-focused transport solutions. This applies to the Actros, Axor and Atego truck lines ...
UNP demands closure of Mihin Lanka and halt inconstruction of new tower UNP MP Dr. Harsha de Silva yesterday demanded that the Government give subsidies that will support families with the increasing prices. On the kerosene subsidy that the State said would be given, he noted that Rs. 200 was inadequate to support rising costs. ...
Contrary to exaggerated claims the EPF investments in to the stock market last week had amounted to only less than 10% of market activity and unlike some past contentious buys, this time around it had focused on blue chips. The total turnover of the Colombo bourse last week was Rs. 8.6 billion and local purchases ...
Sharp reduction in vegetables prices thanks to higher output could help soften an otherwise sharp spike in inflation following the unprecedented fuel hike and devaluation of the rupee, according to analysts. In recent weeks, prices of vegetables have dropped by as much as 50
The third edition of Jaffna International Trade Fair 2012 was held recently at Durayappah Stadium, Jaffna. This event showcased a wide range of products and services from various industries and brought together the business community in the Northern territory. The Nations Express Centre offered visitors an opportunity to experience a range of financial products such ...
Sri Lanka’s cricketing fortunes seem to be changing of late. The team’s better performance has raised hopes among many fans, while the Sports Ministry’s decision to finally pay the cricketers through a Rs. 600 million loan from the Bank of Ceylon will raise moral still higher. The financial fallout that resulted from the co-hosting of ...
A fisherman was shot dead allegedly by the law enforcement authorities during protests in Chilaw on Wednesday. While this finally pushed the Government into giving fuel subsidies for the fishermen, a graver problem has opened up with fishermen continuing to protest – for justice
ASI gains by 5% as Bourse’s value swells by Rs. 96 b Brokers positive after fresh meeting with SEC EPF, private institutional and high networth investors active on attractive valuations The Colombo stock market yesterday produced a major rebound gaining by 5% thanks what some described as “spirited support” whilst others emphasised it was largely due ...
By Uditha Jayasinghe Despite a fuel adjustment charge coming into effect from midnight yesterday, the Ceylon Electricity Board (CEB) will remain in the dark with a whopping Rs.97 billion subsidy from the Government. The Public Utilities Commission (PUC), while announcing its new fuel adjustment
One person was killed and several others received injuries during a demonstration held by the fishermen in Chillaw yesterday against the fuel price hike, the police said. Sri Lanka Police Media Spokesperson Superintendent of Police Ajith Rohana said an individual died due to gunshot injuries
SRI LANKA is still electrified by the unprecedented fuel hike and the fallout continues to grow. On Wednesday a fishermen was shot dead as protestors clashed with the police in Chilaw prompting the Government to issue an immediate subsidy. JVP protesters were tear-gassed and the Political rhetoric
(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “
Sri Lanka’s benchmark stock index, the world’s worst performer this year, may extend its slump as the central bank raises interest rates to curb inflation, according to HSBC Holdings Plc’s private banking unit. HSBC Private Bank, which oversees about $499 billion, will wait for stock valuations to fall to “single digit” multiples before it considers ...
TKS Securities yesterday described the fuel price revision by the Government as a bold move though it will have an impact on inflation. “We consider the ret action which has sent shockwaves amongst the masses,” the broking firm said an economic update. “
The Government said it will allocate Rs. 1.9 billion per month to provide fuel subsidy to necessary services following the increase in fuel prices. The Ministry of Finance and Planning has announced that the fuel relief will be granted from Tuesday to the Sri Lanka Transport Board, the Railways
By Chamitha Kuruppu The two main opposition parties yesterday blamed the Government for making false promises to the people and called the fuel subsidy was just another gimmick of the Rajapaksa administration. The United National Party accused the Government, claiming the fuel subsidy
Contrary to Government assurance of minimal impact from the unprecedented fuel hike of Sunday, a set of upward price revisions including on bus fares and electricity will become reality from today. Striking private bus operators yesterday won their demand with the Government agreeing to let fares
Purple Park, Sri Lankan cricket legend Lasith Malinga’s car detailing centre, became an authorised centre for 3M’s car care range. The centre, located in Hanwella, Angoda, officially became an authorised 3M car care centre on 26 January. 3M is a leading supplier to the motor trade and is globally recognised for high quality innovative products ...
By Uditha Jayasinghe Sri Lankans may have to brace themselves for fuel price hikes as the country becomes increasingly hedged between high global prices and possible sanctions against Iran oil imports, a Minister said on Friday. “If global prices do not decline, then we have no choice
“We have to give the rural people who comprises 80% of our population the results of giant development works we have initiated in the country. It is not only an expectation but also a challenge which we are ready to take up,” President Mahinda Rajapaksa said. Addressing the 64th Independence Day celebrations at Anuradhapura on ...
A recent Energy Governance Case Study published by the Lee Kuan Yew School of Public Policy National University of Singapore has highlighted the vast potential of renewable energy initiatives succeeding in Sri Lanka, going so far as to say that if proper mechanisms for its development is in place then Sri Lanka could be identified ...