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President’s revelation in Kandy of natural gas find in Mannar basin prompts global giant’s Indian unit to make official disclosure Hydrocarbon column found to be predominantly gas bearing with some additional liquid hydrocarbon potential Further drilling required to establish commerciality; Cairn investing over $100m Key breakthrough opens up Mannar basin for geological play In ...
1. Section 2 is of prime importance to an understanding of the scope of the income tax. Unless a person can be brought within the charge imposed by Section 2, he cannot be taxed, subject to the exception mentioned in paragraph 8 below. The power to tax which is implicit in Section 2, is a ...
By Engineer P.G. Joseph An official website about the life and vision of the late Dr. Ray Wijewardene, one of the most accomplished and innovative engineers and scientists produced by Sri Lanka, will be launched on 28 September and will be located at www.raywijewardene.net. In this article, one of several available on the website, a ...
Financial stability risks have risen sharply in recent months, as slower economic growth, market turbulence in Europe, and the credit downgrade of the United States have weighed on the global financial system, according to new analysis by the IMF. Financial markets have begun to question the ability of policymakers to command broad political support for ...
With the World Bank announcing that the world economy is teetering on “a new danger zone,” it is of paramount importance for governments and financial power-houses to restore confidence through concrete policies and systematic financial planning. This is the order of the day, given the recent pessimistic report on the world economy delivered by Morgan ...
KIA Motors (Lanka) Limited has announced plans to invest an estimated Rs. 1 billion over the next three years to expand service infrastructure in Sri Lanka, following phenomenal sales and the growing demand for and popularity of its vehicles. Sales of KIA SUVs Sorento and Sportage exceeded 1,500 units in the first six months of ...
The Suzuki Maruti Alto and Alto K10 set a new average fuel consumption record of 27.8 Km/L at the Suzuki Maruti Economy Rally 2011 held on 11 September 2011 at AMW Suzuki Maruti show room premises. The Rally, organised by AMW and conducted by the Ceylon Motor Sports Club (CMSC) – which is affiliated ...
Union Bank of Colombo PLC (UBC) held the ‘Mega Dinum’ promotion grand draw prize awarding ceremony on Tuesday at its Colpetty Branch. The winner of the super prize of a brand new Suzuki A Star motor car and two years free fuel was produced by the UBC Old Moor Street branch. The winner, M. Yoganathan, ...
BANGKOK (Reuters): Thai Airways International Pcl said on Friday it will not extend its budget airline contract with Singapore’s Tiger Airways Holdings Ltd., effectively terminating their alliance. The Thai flag carrier’s planned new regional airline, Thai Smile, would help replace the alliance with Tiger Airways, Chairman Ampon Kittiampon told reporters after a board meeting “We...
Says SJKMC highly corrupt; UNP Mayor’s first act will be to establish Right-to-Information procedure UNP National List MP and the party’s chief spokesman on economic affairs as well as the newly appointed head of the campaign committee of the Sri Jayawardenepura Kotte Municipal Council Dr. Harsha de Silva yesterday fired the opening salvo at the ...
Reuters: With precious little time to rest after their brutal U.S. Open final, world number one Novak Djokovic and Rafa Nadal will be energised by national pride this weekend as they lead their countries into battle in the Davis Cup semi-finals. Djokovic, winner of three of the year’s four majors in a stupendous season ...
Since 1948, we have been planning for economic prosperity, but six decades have gone by without a semblance of anything to claim as our own. India has superseded all Asian countries and has reached a pinnacle of an economic power and it has even more potential to be a super power. It would be of ...
The Asian Development Bank (ADB) has cut its 2011 and 2012 growth forecasts for developing Asia amid ongoing worries about weak external demand from its key trading partners. In its Asian Development Outlook Update 2011, released yesterday, ADB trimmed its full year forecast to 7.5% from 7.8% seen in April. The 2012 projection is also ...
St. Benedict’s College will showcase its talent through an exhibition covering diverse areas of science, information technology among others at an event titled CUBE from 15 to 17 September at the College from 9 a.m. to 9 p.m. St. Benedict’s College Director Rev. Bro. Granville Perera said CUBE’s objective was to help students transform theoretical ...
Solar, wind, wave, geo thermal, bio massNorochcholai – underperforming, Kerawalapitiya – under maintenance, power utility – threatens strike, Sampur at Trincomalee – coal power agreement signed with NTPC of India, lack of rain in hydropower catchments… the travails of Sri Lanka’s power sector are always in the news. The policy on energy has been driven ...
Greenwich Lanka, a leading systems integrator in advanced ICT infrastructure development in Sri Lanka reached another milestone in its quest to achieve supremacy in delivering efficient enterprise solutions by graduating to the Enterprise partnership level from VMware the global leader in virtualization and cloud software. VMware invented and pioneered Server Virtualization and is the undisputed ....
Chevron Lubricants President Danny Roden will be in Sri Lanka today on a two-day visit, first of its kind by a head of the global giant’s lubricants operations. Roden will be accompanied by Chevron Lubricants Asia Pacific Vice President Farrukh Saeed who is also the Chairman of Chevron Lubricants Lanka Plc. “This is the first ...
Nearly two decades ago, Jeep invented the premium sport-utility vehicle (SUV) segment with the introduction of the Jeep Grand Cherokee. More than four million sales later, Jeep improves the formula and delivers the ultimate combination of Jeep 4×4 capability and on-road refinement with the all-new 2011 Jeep Grand Cherokee. Jeep Grand Cherokee delivers premium on-road ...
MetalFactor teamed up with the International Advertising Association’s (IAA) Sri Lanka Chapter yet again to host the Young Spikes contest for young advertising professionals. The winning team, consisting of two members each from the following categories – Integrated communication and Media, will represent Sri Lanka at the Young Spikes contest at Spikes Asia 2011 in ...
‘Remember your humanity’ is a phrase that was made famous by the Russel Einstein manifesto issued on 9 July 1955. This document is considered as the final major document that Albert Einstein signed before his death in 1955 and is quite a famous statement. The whole idea of issuing this statement has been to indicate ...
By Devin Jayasundera A top Finance Ministry official last week declared that the country’s import sector has bright opportunities on to the future in tandem with fast growing economy and per capita income of the people. Delivering the keynote address at the Ceylon Chamber Import Section Annual General Meeting the Ministry of Finance and Planning ...
* 70% of the country’s households don’t use LPG for cooking * Litro, COOPFED partner to promote use of LPG among low income groups bundling cylinder with cooker via Rs. 10,000 concessionary easy pay loan scheme By Dinali Goonewardene As an estimated 70% of the country’s households cook without Liquefied Petroleum Gas (LPG), a Government ...
Two of Sri Lanka’s oldest companies — Shaw Wallace Ceylon Ltd., (subsidiary of Renuka Holdings PLC) and McLarens Holdings Ltd., signed a joint venture agreement today (1 September) by forming McShaw Automotive Ltd., to create an island wide extensive automotive distribution channel. Shaw Wallace Ceylon Chairman Dr. S. R. Rajiyah (left) and McLarens Holdings ...
The Transport Ministry has made a step in the right direction by combining private and public time tables so that passengers can have a more efficient service. However there are several tasks that must be done before the service can be launched early next year as planned. Public transport in Sri Lanka has long been ...
(Reuters) – Sri Lanka plans to increase bunkering capacity at its port of Colombo by more than 50 percent as demand for marine fuel is rising along with an increase in its post-war shipping business, the country's ports authority said on Tuesday. The capacity at the country's main sea port will rise to 45,000 tonnes ...
THE report of the three member committee appointed to investigate the import and distribution of substandard petrol was out on Monday. Unlike some of the other reports, this one was made public much to the relief of civil society. The Committee was headed by Power and Energy Ministry Secretary M.M.C. Ferdinando and comprised CPC Chemical ...
DHL, the world’s leading logistics company, and Blue Dart, part of the DHL Group, are piloting Smart Truck technology in Bengaluru, India, the first deployment of this successful logistics innovation outside Germany. Created by DHL Solutions & Innovations (DSI), the DHL Smart Truck is an “intelligent” pick-up and delivery vehicle that combines a number of ...
According to latest report of Global Peace Index (GPI), Sri Lanka ranked 126 while Norway ranked in ninth place. Here we are talking about the riots that took place in UK recently and the same GPI ranked the UK in 26th place (100 places ahead of Sri Lanka). A series of incidents erupted in England ...
Eshana De Silva, the Chairman of the Esna Group of Companies and Shermans Logistics has been officially appointed as the Honorary Consul to Kazakhstan. De Silva is also a Director of Pan Asia Bank, Mc Marine and functions as a board member of the Board of Investment (BOI) and the Sri Lanka Ports Authority (SLPA). ...