CIMB and the Colombo Stock Exchange jointly concluded a Sri Lanka Corporate Day in Kuala Lumpur, Malaysia on 30 November 2011, themed ‘Invest Sri Lanka: Opportunities in a New Era’. This conference aim was to provide a snapshot of what lies ahead for the Sri Lankan economy and why Sri Lanka is one of the ...

SRI Lanka’s main opposition has been in crisis for a long time. So long that many people have given up hope of seeing the party rejuvenated. The announcement of United National Party Co-Deputy Leader Karu Jayasuriya as a candidate for the upcoming leadership battle has finally perked up the public with high expectations of seeing ...

Last week my phone beeped and the text message read ‘The Chairperson of the Security and Exchange Commission Indrani Sugathadasa had resigned citing reasons of values and principles for her resignation’. My mind went back to the time when this lady when she was the Board Director at EDB. Whenever tough decisions had be taken ...

The following report is based on the speech Economic Development Minister Basil Rajapaksa made, concluding the debate on the second reading of the Budget for the year 2012. This is the seventh budget presented by the Government of President Mahinda Rajapaksa I regret there was no constructive criticism at all during the debate on the ...

By Cheranka Mendis Sunquick Sri Lanka, the much loved super concentrated fruit quash will today bring home the prestigious Co-Ro Best country award also known as the Global Sunquick best awards. The award is an annual presentation by the brand owners of Sunquick, Co-Ro Food A/S, a Danish Company awarded for the country that marks ...

IN 2010, the boost for Sri Lanka tourism was being named the top travel destination by the New York Times. As the dawn of 2012 emerges the plus point is being among the top six of National Geographic’s best global destinations. Upbeat on tourism, the Government is considering a target of 950,000 arrivals for 2012 ...

By Uditha Jayasinghe Global hotel giant Sheraton has received Cabinet approval to invest US$ 300 million in Sri Lanka, on a venture that will stand on land made famous in the China National Technical Import and Export Corporation (CATIC) deal. ITC Limited of India is a franchise holder of Sheraton Group of USA and the ...

Consul General of Sri Lanka in Dubai, Abdul Raheem met with Director General Hamad Buamain and Dubai Chamber of Commerce Director, External Relations Hassan Al Hashemi at their Head Quarters to discuss mutual trade interests between UAE and Sri Lanka and also brief them about forthcoming mega trade event ‘Expo 2012’ to be held in ...

This is the week of Budget bashing for some and for others it is the week for inventing cute ways to meet the bashes. As is usual for most, it is looking at this all in the ‘what’s in it for me?’ mode. For some, it is also about ‘who said what’ and not ‘what’s ...

President Mahinda Rajapaksa presents development-oriented fiscal programme for 2012 and medium-term policy framework with support for almost all key segments of society and economy In their initial takes, overall welcome tone from private sector, though a few express concerns on select proposals President and Finance Minister Mahinda Rajapaksa yesterday presented what the Government described as ....

If we look at the corporate sector performance of 2010/11, the results of the listed companies was outstanding, with revenue growing by 184% and profits growing by a 418%, whilst the cash in the bank is at Rs. 168 billion, which incidentally is higher than the FDI target set for Sri Lanka of 1.5 billion ...

Underutilisation, underperformance, acquisitionThere is a story about Sir Winston Churchill. When an Opposition Member of Parliament, he was using the urinal in the House of Commons gentleman’s restroom, when a Minister in the Labour Party Government (which was in the midst of a spate of nationalisation of British industry) walked in and stood at the ...

Having being involved actively in the last seven years of Sri Lanka’s economic development agenda, the last two years in particular have been dramatic in nature. Private sector thinking has now come into the public sector which is interesting but needs to be careful managed so that we do not lose the democratic spirit of ...

By Chamitha Kuruppu The Janatha Vimukthi Peramuna claims spending Rs. 265 billion on an 11-day extravaganza is intolerable for an economically ailing country like Sri Lanka. Addressing a media briefing the JVP warned that the aftermath of hosting the 2018 Commonwealth Games would not be rosy as the Rajapaksa administration predicts According to JVP Propaganda ...

This was written upon following recent events that unfolded in our midst which made one wonder if we adequately managed our natural assets at our national parks and protected areas… many lovers of nature and concerned persons presented varied views in the print and e- media. On the global front we also observe the intensified ...

THE South Asian Association for Regional Cooperation better known as SAARC has had a dubious record for talking much and doing little. While other trade and political organisations in the world, such as the European Union, leaped ahead to promote cooperation between their member countries, SAARC has been mired for decades in mistrust. So what ...

By Sanath Weerasuriya in London The curtain rises at the World Travel Mart in London yesterday with a new hope for Sri Lanka Tourism to go beyond its target of 800,000 tourist arrivals to the country by the end of this year. The business for the Sri Lanka Tourism at the modern architecturally designed Sri ...

By Sanath Weerasuriya in London Sri Lanka Tourism participating this years’ World Travel Mart (WTM) in London to promote Sri Lanka to new markets apart from the traditional West European segment. WTM 2011 will showcase Sri Lanka as ‘Miracle of Asia’ and  focus Sri Lanka as a destination offers unrivaled variety with 100 waterfalls, 17 ...

Expolanka Holdings PLC said yesterday it has sustained its consolidated NPAT for the first half of FY 2011/12 at Rs. 668 m, with a consolidated NPBT at Rs. 862 m. These results have been achieved against the backdrop of the many challenges faced by the Group in the international trading sector with its global economic ...

Sri Lanka’s economic progress gained acknowledgement when the World Bank on Thursday announced that Sri Lanka was the most business friendly country in South Asia. Yet the journey still looms long on several points. A new report from IFC and World Bank finds that the reforms implemented by Sri Lanka have helped create a much ...

Viet Nam President promises full support, encourages investment in tourism, textile, agriculture, says consistent policies key to FDI By Uditha Jayasinghe Sealing Sri Lankan and Viet Nam ties, the Presidents of the two countries yesterday witnessed the signing of eight  agreements, including one on oil and gas exploration. Speaking at the Sri Lanka-Viet Nam Business ...

Arguably the world’s most powerful leader, Barak Obama, underscored that the Eurozone crisis is “scaring the world”. It comes as no surprise then that his Treasury Secretary Tim Geithner heads the international clamour for more action to solve the burgeoning sovereign debt problem that has dominated financial markets in recent times. George Osborne, Britain’s current ...

Much media coverage is given to the tourism development promotional strategies that are intended to be carried out in the immediate future in order to increase revenue from tourism. Is the same coverage given to export promotion strategies which are equally important?There is no doubt about the ambitious plans to increase exports from Sri Lanka. ...

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 ...

Deputy Minister of Technology and Research Faizer Mustapha shares his thoughts on development, minority and an expected win: Q: What are your thoughts on the upcoming elections? A: I think it is clear that the win is in the hands of the UPFA, which would place Milinda Moragoda as the Mayor of Colombo. This victory ...

In the latest figures available, the Pacific Asia Travel Association (PATA) last week reported that the preliminary figures for international visitor arrivals into Asia/Pacific destinations1 for July 2011 show a year-on-year increase of 7%. Director of the PATA Strategic Intelligence Centre John Koldowski PATA’s Strategic Intelligence Centre notes that the growth rate has become more ...

Economic Development Minister Basil Rajapaksa met a high level business delegation led by Kuniyo Takahashi, Japanese ambassador in Sri Lanka with a view to reviewing the progress made by the Japanese investors already operating in Sri Lanka and promoting further investment from Japan. This meeting was the third in a series of interactions that the ...

More inflows into service, capital, financial accounts, says CB Rupee was under pressure due to heavy imports in Aug., Sept. Currency dealers wary on rupee stability By Shihar Aneez Reuters: Pressure on Sri Lanka’s rupee currency will recede in coming months due to increasing inflows into the country’s service, capital and financial accounts, the Central ...

Sri Lanka Ports Authority (SLPA) Chairman Dr. Priyath B. Wickrama made an exclusive presentation at the International Port Security Conference in the Netherlands on 28 September 2011. Expressing views delivering the keynote address at the International Port Security 2011 conference on the subject of the past successes of securing Sri Lankan ports and the predicted ...

Introduction Growth has stalled in the global economy. Stock markets have plummeted. Risk appetite has declined and there has been a flow of resources to safe havens. The IMF has stated that the world economy has entered its most dangerous phase since the financial crisis of 2008. The ammunition available to policymakers is much reduced ...