By Chamitha Kuruppu Demanding a Rs. 10,000 salary increment for the State sector and a 40 per cent increase for the private sector, the Marxist Janatha Vimukthi Peramuna (JVP) party complained that citizens in this country are ‘in misery’ due to the ‘bankrupt’ economic and political policies of the present Government and that the Government ...

Exports, imports up in Sept; Healthy financial inflows Two commercial banks infuse $ 250 m capital from overseas sources; corporate offshore debt capital raising tops $260 m Private sector borrowing averages Rs. 37 b per month in 2011 CB leaves policy rates unchanged for 10th straight month despite benign inflation and the inflation outlook Urges ...

Audi AG, positioned within the Volkswagen Group as a premium brand, has been manufacturing technologically advanced cars since 1899. Keeping to the institution of Audi’s tag line ‘Vorsprung durch Technik’ meaning ‘Advancement through Technology,’ Audi is once again setting standards in the full-size category with the seventh-generation A6. With a broad portfolio of in...

Following is a statement on the Expropriation Bill by UNP Deputy Leader Karu JayasuriyaThe might of numbers in Parliament steamrolled the plight of the private sector albeit the nation last week. Notwithstanding widespread protests, the Government has placed in the statute books the draconian Revival of Underperforming Enterprises and Underutilised Act. That 37 business enterprises, ...

Wella, the world’s leader in hair care, was re-launched in Sri Lanka today with plans to take the country’s hair care industry by storm. Adding significance to this milestone event was the parallel launch of the exclusive Wella Studio (Training Centre) at 630, Kotte Road in Kotte.  Authorised dealer for Wella in Sri Lanka is ...

Unique driving pleasure in the premium compact segment BMW Asia last week announced the official launch of the new BMW 1 Series which will be available in two variants; BMW 116i and BMW 118i. This second generation entry-level BMW model has achieved maturity, offering an even better balance between sportiness and driving comfort, improved functionality, ...

Dialog Enterprise, the corporate business solutions arm of Dialog Axiata has opened a state-of-the-art demonstration and interaction center named as Dialog Enterprise Discovery Centre which will be a conduit to showcase the latest enterprise services and solutions provided to corporate customers. Also it acts as an incubation gallery where latest communication technologies are introduced with ...

Discussion on the validity of non-military engagements of the military The war or internal armed conflict in the north and east is over; the Emergency is no more; but still the military is everywhere. The military is now engaged in peacetime police-work, whale watching, selling vegetables, agriculture, cleaning, constructions and many other non-military activities. Yet, ...

MJF Group Director Operations Malik J. Fernando has called for a Master Plan for the plantation sector. In a press statement issued this week, Fernando says an industry-wide Master Plan is required for Sri Lanka’s 150-year-old plantation industry to realign itself with internal and external changes and to remain competitive. “We need to develop a ...

The biggest ever IPO by a home grown entity People’s Leasing Ltd., (PLC) officially opens today aiming to raise Rs. 7 billion to boost its growing business in post-war Sri Lanka. The IPO involves 390 million ordinary voting shares at Rs. 18 each. Top brokerages have already recommended the IPO as ‘Buy’. PLC is 100% ...

Following is the address delivered by Senior Minister for International Monetary Cooperation Dr. Sarath Amunugama at the fourth South Asia Economic Summit (SAES IV) Plenary Session: In the aftermath of the global economic crisis, there has been a noticeable shift in economic clout, moving from the USA and the debt-plagued countries of the Eurozone, to ...

Annual inflation surprises with higher-than-expected fall Improved food supply cool inflation-cenbank Cenbank says Nov inflation to rise By Shihar Aneez  (Reuters) – Sri Lanka’s annual inflation slowed far faster than forecast to a 14-month low in October from a year earlier, government data showed on Monday, due to a better local food supply and easing ...

By Ranga Sirilal (Reuters) – Lanka Indian Oil Corp. (LIOC), the Sri Lankan arm of India’s state petroleum firm, said yesterday it expects to turn a profit in the 2011/12 financial year, after the government raised fuel prices that contributed to a loss in the first quarter. LIOC, part of the Indian Oil Corp., has ...

HSBC announced its new alliance with Lanka IOC PLC, an overseas venture of the oil giant, Indian Oil Corporation Ltd., to offer the bank’s loyal credit card holders more benefits and convenience. The new agreement was signed on 19 October between HSBC Sri Lanka and Maldives Chief Executive Officer Nick A. Nicolaou and LIOC Managing ...

Sri Lanka hikes fuel prices

Parliamentarians for Global Action, a non-profit, non-partisan international network of over 1,000 legislators in 131 elected parliaments around the globe, aims to promote peace, democracy, the rule of law, human rights, sustainable development and population issues by informing, convening, and mobilising parliamentarians to realise these goals will start their three day deliberations in Colombo o...

Sri Lanka Seals supported the recently concluded first South Asian Beach Games in Hambantota as an event sponsor for the water sports events. Sri Lanka Seals was seen launching the Sea Jet Suzuki 1400CC Jet Skis in the high waters of Hambantota for pilot, rescue, media and support operations. The four stroke engines with a ...

Reuters: New investors who have shown interest in Sri Lankan oil and gas exploration await the results of Cairn India’s drilling of a second well in the Mannar Basin before committing to anything, Sri Lanka’s Oil Minister said on Tuesday. Petroleum Industries Minister Susil Premajayantha confirmed that Russian gas export monopoly Gazprom, Malaysian State oil ...

The passenger sales operations of Emirates in Sri Lanka have been recognised for outstanding performance in 2010/11 with an award for sales excellence, presented at a recent regional conference of the award-winning Dubai-based international airline. The award is in acknowledgement of revenue growth that has exceeded budgeted levels and reflected a 31 per cent improvement ...

A global best practice adopted in local context By Mayuri Wijayasundara, Sajith Edirisooriya, Tharinda Jayawardena and Sudarshan Senaratne Holcim (Lanka) Ltd. was placed first runners-up at the CIMA Case Study Awards 2011 for their case study pertaining to the theme ‘creating value through sustainability’. The CIMA Case Study Awards is a competition where leading corporates ...

The last week was an eventful week indeed. We barely recovered from the news of the death of the maverick inventor Steve Jobs. Although I am a loyal Microsoft right-brain person, I admired the ‘left-brain innovative spirit’ of Apple and the ingenuity of the man. He had not gone to university and had what some ...

 Following the resounding success of the first Pecha Kucha night held in July 2011, the second night will take place on 23 October 2011 at the Warehouse Project, Maradana as done so previously. The event which was initiated to fuel interaction between people in creative industries is set to be held four times a year. ...

Global banking giant HSBC is upbeat on Sri Lanka’s external trade, predicting exponential growth above global average over the next 15 years. In its October 2011 dated HSBC Trade Connections Trade Forecast Quarterly Update, HSBC said Sri Lanka’s external trade would grow in volume terms by 105% by 2025 and value wise by 83% to ...

Sri Lanka Standards Institution (SLSI), the national standard body in the country, awarded ISO 9001-2008 certificate to LAUGSF Eco Sri Private Limited, a subsidiary of the LAUGFS Gas PLC, one of the dynamic public quoted energy company in Sri Lanka. Chairman of the SLSI, Kanchana Ratwatte, presenting the certificate to Chairman of LAUGFS Gas PLC ...

In business the most difficult part is finding, servicing and retaining markets and market share. In exports, this is even more challenging. The ultimate in value addition is brand marketing. The optimum return in global business is achieved by the growth and development of brands. The national economy where the brand is owned has a ...

Bangalore (IANS): Asia’s boutique airline Bangkok Airways has connected the Thai capital of Bangkok with India’s Information Technology hub Bangalore. It is targeting business and leisure travellers from South India wishing to see exotic tourist and pilgrim destinations in Thailand and other South East Asian countries. “As a vibrant city thriving on knowledge economy, Bangalore ....

This may sound too religious! Yet the objective is to show the attitude and the direction needed in our words and deeds today in terms aligning ourselves to national economic development. The essence of the statement is that thoughts manifest as words and words manifest as deeds and so on. The onus is on ensuring ...

Economic Development Minister Basil Rajapaksa yesterday inaugurated the country’s largest ultra modern fuel station and shopping complex in Paradise, Kuruwita along the Colombo-Ratnapura road. This trade complex includes a fuel station, a Commercial Bank branch, ATM machines, a restaurant and a super market. The KDU Group of companies has planned this commercial trade complex to ...

I like to be an optimist. No matter what may happen around us, I would like to retain feelings of hope I have for all human-kind and on a more intimate level for you, for me, the newborn and the to-be-born. Yet, what has already happened around me, happening now and may happen in the ...

(Reuters): Indian gas importer Petronet LNG Ltd., could supply liquefied natural gas (LNG) to Sri Lanka from its Kochi terminal in southern India, its head of finance said, as the island nation aims to convert all power plants to gas use. Sri Lanka depends on fuel oil imports for over half of its power generation ...