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Countries have achieved sustained growth and development by adopting a range of approaches. Successful outcomes have come from policies varying from state capitalism to those based on market-driven private sector-oriented models. A high premium needs to be attached to the pursuit of pragmatic policies that are appropriate for country-specific conditions at a given point in ...
Asian Development Bank (ADB) Vice President Xiaoyu Zhao has declared that Sri Lanka has big potential than any other country in Asia to become the most viable and attractive regional economic hub. “Strategic location, post conflict infrastructure development initiatives, peace and stability, high economic growth and able leadership are the main factors behind these potential,” ...
The Consulate General of Sri Lanka Dubai M.M. Abdul Raheem visited Hamriyah Free Zone Authority this week and met with Director General Dr. Rashid Alleem to strengthen bilateral business association and investment promotion between the two countries. During his meeting Raheem highlighted the investment potential and business environment for Sri Lankan business community. Sri Lanka ...
East London recently received a boost as five ICT firms announced plans to expand their operations in Tech City, Europe’s fastest-growing digital hub. Milton Keynes, Sheffield and Ulster will also benefit from multi-million pound international business deals announced at the Global Business Summit on ICT, organised by UK Trade & Investment (UKTI) during the Olympic ...
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison
Globe Mirror Industries (GMI), the first tempering plant to be established in Sri Lanka in 1969 has been awarded ISO 9001:2008 certification, a clear indication of its growth and credibility in terms of maintaining a high standard of quality throughout the years. GMI was started by late Mohammed Nawaz and has since grown to be ...
A number of articles which appeared in print media in the recent past signify the volatility in the economy. High volatility leads to vulnerability. Volatility and vulnerability are reflections of the haphazard nature of the economic policies and poor economic governance in a country
Khaleej Times: Sri Lankan efforts to increase its export of skilled workers to the UAE were the topic of discussion in a gathering of diplomatic officials at an overseas employment promotion seminar held on 13 September. At the event, officials addressed local recruiters and employers on the procedures and benefits associated with hiring workers from ...
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
The exchange of goods and services has been around for as long as civilisations themselves, if not longer. Humans, being extremely adaptive to their environments, have always found ways to utilise resources and build surplus. This surplus was then used to trade in order to obtain resources and goods that weren’t abundantly available. Evolution of ...
The festival of creativity – Spikes Asia 2012 in Singapore during its first two days showcased key insights on winning and creative ideas in the marketing communications sphere by a host of global and regional experts. Attended by nearly 1,800 creative industry professionals and students from 27 countries including nearly 20 from Sri Lanka, the ...
It is with great sacrifices that Sri Lanka brought about a victory against ruthless terrorism, which is certainly a feather in the cap of Rajapaksa family. No one can dispute the fact that President Rajapaksa provided the political leadership and ensured that the LTTE was decimated at any cost. The Tamil diaspora and the pro-separatist ...
“Broadband will represent a momentous economic and social change,” said President’s Secretary Lalith Weeratunga. Weeratunga said so while participating at the inauguration of a two-day ‘Regional Expert Consultation on Connecting Asia Pacific’s Digital Society for Building Resilience’ held in Colombo recently. Organised by the United Nations Economic and Social C...
Tightening brakes on growth, Government data released yesterday showed the country has slowed to a two-and-a-half-year low, slipping from 7.9% in the first quarter to 6.4 % in the second when compared with the same period last year. A Reuters report noted that economic growth eased to 6.4 per cent in the second quarter ...
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
One of the largest healthcare systems providers in Sweden, Cambio Healthcare Systems has set up a research and development centre in Sri Lanka and is now poised to expand further with the vision of being the leading healthcare systems provider in the Nordic regions. “Cambio Healthcare Systems is currently one of the largest e-Health providers ...
The Tokyo Stock Exchange (TSE), which is the third largest equity/stock market in the world with a total market capitalisation of US$ 3.3 trillion, has expressed interest to have Sri Lankan listed corporates on the Colombo Stock Exchange (CSE) to be listed on the TSE as Japanese Depository Receipts (JDRs), stated Ambassador of Sri Lanka ...
A Memorandum of Understanding (MOU) was entered into between the Ministry of Health and the National Health Development Fund on behalf of the Government of the Democratic Socialist Republic of Sri Lanka (GOSL) and the Trustees of the Foundation Supporting a National Trauma Service in Sri Lanka, Victoria, Australia (Project BEAP), which is a charitable ...
The first Prime Minister of independent India, Pandit Jawaharlal Nehru, wrote 75 years ago: “It would be absurd to say that the profit motive does not appeal to the average Indian, but it is nevertheless true that there is no such admiration for it in India as there is in the west. The possessor of ...
South Africa, Sri Lanka’s leading trade partner in Sub-Saharan Africa and the third most competitive economy in the $ 13.7 trillion BRICS grouping, is making an unprecedented investment foray into resurgent Sri Lanka with no less than a $ 122 m initial investment –and is scheduling
A salutary reader interest on share market regulation A reader of the previous week’s My View titled ‘SEC: Not a mere watchdog, but a bloodhound mandated to bite’ has raised an important issue with this writer. He has asked the question why it is necessary to have a regulator to police the financial markets and ...
Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from the ...
By Cassandra Mascarenhas Offering an insightful view into international trade law and electronic transactions across borders, the second and final day of the regional expert consultation on connecting Asia-Pacific’s digital society for building resilience organised jointly by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the ICT Agency of ...
By Cassandra Mascarenhas Sri Lanka’s biggest ICT events of 2012, the ASOCIO international conference and the country’s national IT expo INFOTEL, will be held consecutively portraying the country’s persistent ICT development and the significance of the rapidly expanding industry. Hosted by the Federation of Information Technology Industry (FITIS), the Asian-Oceanian Computi...
Government agencies are among the most complex organisations in nearly every country in the world. They often are large, have multiple objectives, and face increasing demands to deliver more services at a lower cost. As a result of this complexity, a government is faced with many organisational issues, including: redesigning their organisations and their interaction ...
The SAFA-CMA Management Accounting Summit 2012 held in June this year revolved around the theme ‘Corporate Social Responsibility and Sustainability Practices,’ of which the highlight was the final session of the two-day summit, the CEO and CFO Forum. The panel featured Dialog PLC Group CEO and Managing Director Dr. Hans Wijayasuriya, John Keells Holdings Finance ...
The Central Bank of Sri Lanka is hosting the 22nd Asian Credit Supplementation Institution Confederation – Annual Training Program (22nd ACSIC – ATP) on 03rd and 04th of September 2012 at the John Exter International Conference Hall, Central Bank of Sri Lanka, Colombo. Central Bank of Sri Lanka has been a member of ACSIC from ...