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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. What is volatility? Volatility is the severity and the frequency with ...
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...
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 ...
According to the Thai Ministry of Tourism and Sports, Thailand recorded a 31% y-o-y increase in tourism receipts in 2011. The total earnings of 776 billion Baht (US$25.45 billion) were also well above the original target of 716 billion Baht (US$ 23 billion). The growth in total number of visitors is being matched by increased ...
The Tourism Authority of Thailand has unveiled a series of strategies designed to maintain, enhance and promote Thailand’s brand image, marketing profile and visitor arrivals. TAT has set a 2013 target of 22.22 million international visitor arrivals, generating estimated foreign exchange revenues of 966 billion Baht (US$ 30.62 billion, based on the exchange rate of ...
By Cassandra Mascarenhas Setting its sights on placing Sri Lanka in the global economy and expanding its reach in overseas markets, the Sri Lanka Economic Summit 2012, the Ceylon Chamber of Commerce’s annual flagship event, aptly themed ‘Positioning Sri Lanka in the Global Economy,’ commenced last evening at the Cinnamon Grand. In the context of ...
Tie-up with East West Properties to see 200-room, 11-storey Weligama Marriott Resort and Space come up in mid 2014Marriott International has announced the signing of an agreement with Weligama Hotel Properties Ltd., a fully-owned subsidiary of East West Properties PLC, to open a hotel in Sri Lanka – the Weligama Marriott Resort & Spa in ...
WASHINGTON: Developing countries should prepare for a long period of volatility in the global economy by re-emphasising medium-term development strategies, while preparing for tougher times, says the World Bank in the newly-released Global Economic Prospects (GEP), June 2012. A resurgence of tensions in high-income Europe has eroded the gains made during the first four months ...
The International Air Transport Association (IATA) on Tuesday announced in Beijing that South African Airways will host the 69th Annual General Meeting (AGM) and World Air Transport Summit (WATS). The event will draw the top leadership of the air transport industry to Cape Town’s International Convention Centre from 2 to 4 June 2013. “South Africa ...
Fresh push to woo Chinese tourists and tap greater share of two-way traffic, including to Maldives Upgrade brings total flights to four cities in China including Hong Kong to 21 per week By Nisthar Cassim in Beijing, China In a fresh push to woo more Chinese tourists as well as cater to growing two-way traffic, ...
A document named ‘Growing Together’ prepared by UNESCAP for the sixty sixth session of ESCAP states that the realisation of what is termed as the ‘Asia Pacific century’ will depend on the region’s ability to harness the potential of regional economic integration. A shared history and culture, complementarities arising from their very different levels of ...
Wide publicity has been given to the events unfolding at the Sri Lanka Tourism regarding the resignation of the Chairman from Sri Lanka Tourism Promotion Bureau, Sri Lanka Institute of Tourism and Hotel Management and Sri Lanka Convention Bureau and the performance of the Board of Investment. The media reports have given the impression that ...
After the LTTE was defeated, a campaign designed to promote Sri Lanka as a leisure and investment destination labelled ‘The Small Miracle’ was shot down, ostensibly on the ground that the miracle was in no way ‘small’. The marketing value in Sri Lanka’s compact size, our rich biodiversity, the diversity of leisure locations and physical ...
MACAU,(Reuters): Russia is placing bets that plans to build a gambling and entertainment zone near the port city of Vladivostok will lure investors who have spent big money on casinos for Asian gamblers in Macau and Singapore. Vladivostok, located near China and known more for its oil and gas pipes
The UNWTO has welcomed the Declaration issued by the Tourism Ministers of the G20 economies (T20) calling for priority to be given to facilitating travel as a means to boost economic growth and create jobs. The Declaration states, “To ensure that tourism can play a key role in creating employment opportunities, both directly and indirectly ...
Expolanka Holdings PLC yesterday acquired the controlling stake in Akquasun Holidays India (Pvt) Ltd. at a cost of US$ 915,000, thus further consolidating both its presence and strength in the leisure and travel sectors. Akquasun Holidays, the Mumbai-based destination management specialist is a B2B Destination Management network company. Primarily mandated to attracting traffic from emerging ...
Expolanka Holdings PLC yesterday acquired the controlling stake in Akquasun Holidays India (Pvt) Ltd. at a cost of US$ 915,000, thus further consolidating both its presence and strength in the leisure and travel sectors. Akquasun Holidays, the Mumbai-based destination management specialist is a B2B Destination Management network company. Primarily mandated to attracting traffic from emerging ...
The Ceylon Chamber of Commerce (CCC) signed a cooperation agreement with the Chamber for Promotion and Economic Development of the BRICS Countries (Brazil, Russia, India, China and South Africa) called ‘BRICS-PED’ recently. This special agreement will initially promote an identified
Prospects for the global economy are slowly improving again, but growth is expected to be weak, especially in Europe, and unemployment in many advanced economies will stay high, according to the IMF’s latest forecast. Although action by policymakers in Europe and elsewhere has helped to reduce vulnerabilities, risks of a renewed upsurge of the crisis ...
Deals worth $ 12.1 m under negotiation “An invaluable learning curve for Sri Lanka’s international trade scheme,” says Rishad The recently-concluded Expo 2012 was a successful event, coming after a lapse of 15 years. “Expo 2012 garnered confirmed orders to the value of US$ 66,090 and currently orders under negotiation amount to US$ 12,110,315. There ...
Expo 2012, organised by the Export Development Board, provided an ideal opportunity to Sri Lanka Tourism industry to promote its product to the international market. At the end of the event, Sri Lanka Tourism Promotion Bureau (SLTPB) had been able to achieve its targets successfully. The stall of the SLTPB was one of the eye ...
A new Air Services Agreement between Sri Lanka and the Russian Federation was signed at the Ministry of Transport of Russia in Moscow on 26 March. Sri Lankan Ambassador in the Russian Federation Udayanga Weeratunga signed the Agreement on behalf of the Government of Sri Lanka while Deputy Minister
The Expo 2012 show that commenced yesterday highlights Sri Lanka’s export products across more than 20 sectors. “Expo 2012 is a viable platform for UAE to identify the export product portfolio of Sri Lanka. In fact, we did not know that Sri Lanka has such a huge export portfolio until today,” said Rashid Al Telaji, ...
Travel and tourism is set for a milestone year as the industry’s direct contribution to the global economy is expected to pass $2 trillion in GDP and 100 million jobs. According to research by the World Travel and Tourism Council (WTTC), the global travel and tourism industry will grow by 2.8% in 2012, marginally faster ...
Today is 19 March 2012. The day and the month of March are significant in the lives of many people – some celebrating birthdays, some wedding anniversaries, while others nurse what is yet left over from the hangover of the three day drawn encounter that we experienced a week ago or the limited over Royal ...
By Cheranka Mendis Sri Lanka’s tourist arrivals rose 27% to 83,549 in February from a year earlier, continuing the growth momentum established in 2010. Data released by the Sri Lanka Tourism Development Authority yesterday showed arrivals topping 169,423 during the first two months of the year, a 21% increase from the period a year ago. ...
With just 12 days to go, Sri Lanka’s largest mega trade, investment and tourism promotion initiative ‘Expo 2012’ has attracted close to 1,200 people, exceeding the expected 1,000 mark, EDB Chairman Janaka Ratnayake said yesterday. Speaking to the Daily FT, he asserted that the number of participants had increased by 500 from last week, when ...
By Cheranka Mendis The much anticipated HSBC Colombo Fashion Week is now all set to open three days of glamour and fashion related business to the local community starting 24 February. With fashion weeks around the world being identified as the most glamorous business meetings, HSBC CFW will aim at promoting and encouraging local ...
To focus on skills development, trade, investment, sustainable development and business excellence to sustain GDP growth rate of 8%Following is the address delivered by National Chamber of Commerce of Sri Lanka President Asoka Hettigoda at the NCCSL’s 53rd Annual General Meeting Ayubowan, good evening. Let me extend a warm welcome to all of you to ...
International tourist arrivals grew by 4.4% in 2011 to a total 980 million, up from 939 million in 2010, in a year characterised by a stalled global economic recovery, major political changes in the Middle East and North Africa and natural disasters in Japan. By region, Europe (+6%) was the best performer, while by sub ...