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By Tudor Wijenayake Most Sri Lankan universities seem to be in chaos. The majority of them are closed down due to student unrest, where the Government claims that students are manipulated by left parties and breakaway groups aspiring to come into power. The students may be manipulated, but this level of operation is not possible ...
By Cheranka Mendis To be on top of the world tea trade as a producer, countries must learn and understand the criteria for being developed continuously in the main trading countries and innovatively come up with new marketing strategies to promote their products. These must be backed by new product variation and differentiations in terms ...
Country records second successive year of over 20% growth in exports; 2011 full year value tops $ 10 b; when ICT exports included total figure to rise to $ 11 bConfirming resilience and an improved competitive mindset amidst global and local difficulties, Sri Lanka’s exports sector has concluded its second year of over 20% growth. ...
COLOMBO (Reuters): Oman may sell oil to Sri Lanka in the event of a crisis, which the island nation is racing to avert with US sanctions on Iranian crude threatening its primary refining supply, Sri Lankan officials told Reuters on Friday. Omani Oil Minister Mohammad bin Hamad al-Rumhy on Friday
Top professional Gamini Karunathilake has left the post of CEO at Merchant Bank of Sri Lanka (MBSL) following a golden handshake. This was after he filed an action against MBSL and obtained an interim order against the purported letter of suspension issued to him in December 2010 through his lawyers Wijedasa Rajapakse President’s Counsel and ...
Unlike in many life pursuits, it is said that sports is the great leveller. Sport is where you walk the talk or more precisely, run, sprint, jump, throw, shoot, bat, bowl, field, kick, pass and speed the talk. It is also where superfluous claims and extreme flatulence lose its appeal and action is the key ...
Reuters: Sri Lanka and the International Monetary Fund (IMF) meet this week amid a standoff over the Central Bank’s defence of the rupee currency, which has cost $ 2.6 billion in foreign exchange reserves since July – the same amount the global lender has pledged to loan. Bucking all its Asian peers, Sri Lanka has ...
Regulatory pressure mounted further over the course of 2011 – bad news for financial services firms, but good news for the consultancies to which they turned for help. Ernst and Young topped the Operational Risk and Regulation consultancy rankings again in 2011 (http://www.risk.net/operational-risk-and-regulation/feature/2135016/orr-consultancy-rankings-2011), and the New York-based head of ...
The Sri Lanka Tea Board, the apex authority of the tea industry in Sri Lanka, will be hosting the United Nation’s Food and Agriculture Organization’s (FAO) 20th Session of the Inter-Governmental Group (IGG) on tea from 30 January to 1 February 2012 in Colombo. At the 19th session held in May 2010 in New Delhi, Sri ...
Basic questions to answer In the late 1970s, a Deputy Commissioner of Examinations was prosecuted for interfering with the results of a son of a Minister and a son of a school principal. He was jailed. It was possible to prosecute him because the then Commissioner got wind of this illegal activity and moved for ...
Sri Lanka businesses and their leaders are optimistic of prospects for 2012 whilst they are also confident the country will progress in the New Year according to key findings of a CEOs survey done by MTI Market Research. “Despite concerns about the global economic outlook, Sri Lankan businesses seem confident that the local economy and ...
In a landmark move Sri Lanka is to donate 7,500 metric tonnes of rice to Somalia, a minister said yesterday. Cabinet decided to donate 7,500 MT of rice to Somalia and a paddy stock of 15,000 MT will be released from Ampara in the Eastern Province and Polonnaruwa in the North Central Province to produce ...
At a recent seminar an activist pointed out that our country is filled with professional and private sector hypocrites. This is very true private sector people in the recent past have jumped the line and begun to sing praise on behalf of the government. This is not to say the government is not performing. The ...
The Central Bank of Sri Lanka recently unveiled its pioneering Sixth Strategic Plan – communicating in all transparency its plans for the forthcoming financial period – based on the theme ‘Raising the Bar’. The Sixth Strategic Plan, like its predecessors, takes root from the policy measures underscored in the ‘Mahinda Chinthana,’ and is formulated to ...
in the US and a crisis in Europe; key markets ...
Colombo, (AFP): The Sri Lankan government has ordered a probe into the national cricket team’s “crisis situation” after they fell to another defeat in their one-day series in South Africa, an official said on Wednesday. Sports Minister Mahindananda Aluthgamage asked the country
A pioneering Sri Lankan finance company, Alliance Finance has increased its profit after tax by a phenomenal 406% during the six months ended September 2011 compared with September 2010. Alliance Finance AGM – Deposits Champa Nakandala said that the company has witnessed a significant growth last year on all fronts with its deposit base reaching ...
The newly elected president of Sri Lanka Cricket (SLC) has once again has predicted that at least five years will be needed to resolve its financial crisis. Upali Dharmadasa, who was elected uncontested on 03 January, said the SLC will get a considerable amount of income from future tours
Benefits of the present tourism boom are spreading to all the other sectors of the country, including heritage, arts and cultural sectors. During the period of terrorism many institutions in the cultural, arts and archeological sectors were severely affected. One of these institutions was the Cultural Triangle Project. As a result of reduced income from ...
By Dr. Laksiri Fernando Asian Tribune: I was in Colombo for two weeks before Christmas for some personal matters and all appeared positive, more or less, except perhaps for the thorn of the ‘General’. When I was waiting for the connection in Singapore, two expatriates came across and talked to me about the situation in ...
COLOMBO: A Sri Lankan minister slammed the country’s cricket team on Thursday, blaming poor team spirit for its humiliating 258-run thrashing by South Africa, the island’s worst one-day international defeat. Government spokesman and Media Minister Keheliya Rambukwella said he was “horrified” when Sri Lanka were dismissed for 43 runs at Boland Park in Paarl on ...
Hopes of improving multilateral trade through the Doha Development Agenda of the WTO are fast fading. Over 10 years of negotiations, negotiators have not been able to find common ground for the most important issues on the table. Whether the next 10 years would see the conclusion of the Round appear to be doubtful for ...
By Cassandra Mascarenhas Addressing a topical subject which is of crucial significance to Sri Lanka in the context of the current drive towards achieving GDP growth of over eight percent per annum in the next five years, the Postgraduate Institute of Management hosted a lecture-discussion on ‘International Financial Institutions and Development in Asia’ earlier this ...
“Our sense is that if we do not act boldly and if we do not act together, the economy around the world runs the risk of a downward spiral of uncertainty, financial instability and potential collapse of global demand… we could run the risk of what some commentators are already calling the lost decade” – ...
If the Governor of Central Bank has an urge to enter politics, he should come to Parliament without playing politics inside the CB, charges United National Party Parliamentarian and well-known Economist Dr. Harsha de Silva. Dr. de Silva notes that Governor Nivard Cabraal should respect the sanctity of the Central Bank and therefore if Cabraal ...
The Colombo stock market continued its miserable run in the New Year with no iota of ‘Wonder of Asia’ mindset or optimism. Whilst recording its fifth successive negative session, the Colombo bourse has seen Rs. 68 billion in value wiped off since the New Year and the All Share Index’ negative return topping 3% mark. ...
The Standard Chartered Bank (SCB) has opined the Central Bank’s forecast of $ 25 billion foreign inflow as “optimistic” given external headwinds whilst cautioning that pressure was mounting on the rupee given the rising import demand. This view along with weaker GDP forecast is contained in SCB's latest country update titled 'A challenging year ahead' ...
German Chancellor Angela Merkel and French President Nicolas Sarkozy, the two leaders of the Eurozone’s most powerful economies, met on 9 January to discuss further steps to resolve the debt crisis. Their first meeting of 2012 comes after all EU countries except the UK agreed
The media is still abuzz over the issue of the faulty A/L results, with reports filtering in of postal revenues doubling with most students applying for re-correction. One report told of how the Anuradhapura post office earned Rs. 200,000 in one day due to the rush. The extent of the alleged inaccuracies in A/L results, ...