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Sri Lanka's Central Bank believes the rupee can strengthen to around 125 per U.S. dollar due to high foreign inflows into the economy, the head of the country's monetary authority said yesterday.
Reuters: The Central Bank believes the rupee can strengthen to around 125 per US Dollar due to high foreign inflows into the economy, the Head of the country’s monetary authority said of Monday. Since April, the Central Bank and Finance Ministry have repeatedly said the rupee should stabilise
A high-level 15-member delegation from the Republic of Seychelles arrived in Colombo yesterday on a three-day visit. Led by President of Seychelles James Alix Michel, the delegation will comprise, among others, Minister of Foreign Affairs Jean Paul Adam, Minister of Natural Resources and Industry Peter Sinon, Delhi-based High Commissioner of Seychelles to Sri Lanka Waven ...
By Shanuka Tissera A year to date, since the last annual general meeting of The Planters’ Association of Ceylon, there have been some turbulent changes in the tea, rubber and coconut industries due to the crisis in the Middle-East and EU. The 158th AGM of The Planters’ Association of Ceylon took place on 17 August ...
Last week I had the opportunity of meeting Hermawan Kartajaya, one of the top 50 gurus who has shaped the world of marketing. His perspective to the changing landscape of marketing and what business must do sure opened my mind set to a new way of thinking business and Sri Lanka’s policy decision making. Hermawan ...
Nearly 50 stocks had gained by over 10% in the past month Three solid stocks gives over 23% year-to-date return against near 20% dip of the market If the general investing and savings public believes the Colombo Stock Exchange isn’t attractive, then nearly 50 stocks are likely to prove this incorrect, especially given their performance ...
LOLC Group has recorded Rs. 9.5 b as gross revenue, Rs. 1.1 b as Profit Before Tax (PBT) and a corresponding Profit After Tax (PAT) of Rs. 721 m in the first quarter. In the first quarter of FY12 LOLC Group pre-tax profit was Rs. 2.1 billion. FY13 post-tax was Rs. 721.4 million, down by ...
The Colombo Tea Traders’ Association (CTTA), which manages the world’s premier and largest single origin tea auction in the world – the Colombo Tea Auction (CTA) – has completed a study with MTI Consulting, aimed at improving the process of the auction. Addressing the CTTA Committee at the project presentation, Chairman of CTTA Jayantha Keragala ...
Sri Lanka’s leading travel agents have lauded the introduction of flat bed seats into the business class cabins of SriLankan Airlines’ wide bodied aircraft. During a recent familiarisation trip organised by the Sri Lanka Sales department of the airline, senior representatives from these travel agencies visited the BIA airport and inspected the refurbished aircraft interiors ...
Fitch examines financing alternatives to the current predominant international borrowingsBy Cassandra Mascarenhas Discussing new investment opportunities and financing structures for Sri Lankan private sector entities to enter the current government dominated infrastructure financing in the country, Fitch Ratings Lanka hosted a seminar titled ‘Fitch Perspectives’ last week, featuring F...
The Sri Lanka Institute of Directors (SLID) has joined the chorus for greater independence at the Securities and Exchange Commission (SEC) by issuing a statement urging the Government to act appropriately. The SLID statement is as follows: The Sri Lanka Institute of Directors (SLID), which has the furtherance of corporate governance as its foremost objective, ...
Inflation, hyper inflation and chronic inflation Inflation, as understood by the unsuspecting citizen, is the rising cost of prices over a period of time. This interpretation is far from satisfactory. It is high time people were educated as to the real causes of inflation. Dissecting the inflationary causes would be a difficult task for an ...
In the next few years, Sri Lankan economy will reach a Gross Domestic Production (GDP) value of US$100 billion, up sharply from the slow paced economy of about US$ 24 billion GDP in 2004, Central Bank Governor Ajith Nivard Cabraal said.
Brand Finance’s Annual Global Nation Brand Analysis Prologue Over the past three years, nation branding has received an enormous amount of coverage in Sri Lankan newspapers. Whilst some of these are based on the need to provide a marketing approach to building a nation, and its brand; many of the articles focus on developing a ...
Minority shareholder activist K.C. Vignarajah has written a letter to President Mahinda Rajapaksa appealing him to retain Securities and Exchange Commission (SEC) Chairman Tilak Karunaratne who has announced his resignation by Friday. Here is the full text of the letter: 16.08.2012 H.E Mahinda Rajapaksa The President of the Republic of Sri Lanka, Temple Trees, Colombo ...
A well respected professional, Dr. Hermawan Kartajaya from Indonesia was on a visit to Sri Lanka Institute of Marketing (SLIM) the national body of marketing in Sri Lanka. The Indonesian author and public speaker in marketing studies, who co-authored several books with the worlds marketing guru Professor Philip Kotler, met with SLIM Council members and ...
KUALA LUMPUR (Reuters): Malaysia’s economy grew at a surprisingly strong annual pace of 5.4% in the second quarter, the central bank said on Wednesday, as a jump in private and government investment helped offset weakness in exports amid faltering global demand. The second-quarter growth beat
The Mahindra Sri Lanka Premier League is set to bring life to the city of Kandy, with the Pallekele leg of the matches beginning on Friday 17 August, with the encounter between Wayamba and Uva kicking off the proceedings. Somerset Entertainment Ventures Chairman Sandiip Bhammer said, “We are excited about the eight matches set to ...
For better economic development in Sri Lanka After the war we are experiencing the dividends of peace. Sri Lanka economy grew by 8.3 per cent in the year 2011, following an eight per cent growth in 2010. But this year it has forecast economic growth may be as slow as 6.75 per cent due to ...
Both governments to double bilateral trade to USD 10 billion by 2015 The High Commission of India and the Indian expatriate community in Sri Lanka celebrated the 66th Independence Day of India yesterday at the India House in Colombo. Indian High Commissioner Ashok K. Kantha hoisted the Indian national flag, which was followed by ...
Point of view By a market participant The investors were compelled to wait nearly 17 years to reap the benefit of a real bull run in 2009 after the elimination of the LTTE terrorism and how the SEC destroyed it within a one-and-a-half year period due to ill conceived, irresponsible decisions is well known and ...
Shares thoughts on sustainability in volatility and the way forward The Guest of Honour, Dato’ Charon, President and Members of the Professional Bankers’ Association, my dear friends, first of all, let me thank the Association of Professional Bankers for inviting me this evening to your 24th Convention and giving me the opportunity to share a ...
Reuters: Tourist arrivals in July rose 7.8% from a year earlier, Government data showed on Tuesday. The number of visitors has risen year-on-year in the past 39 months since a 25-year civil war ended in May 2009. The Tourism Board expects over one million tourists in 2012, yielding revenue of more than $ 1 billion, ...
Following is the copy of letter written by public interest activist Nihal Sri Ameresekere to Secretary to President Lalith Weeratunga on the Securities and Exchange Commission (SEC) based on some of the reported discussions during the President’s meeting capital market stakeholders in late July at Temple Trees. 10th August 2012 Mr. Lalith Weeratunga &...
By Cassandra Mascarenhas The technical sessions of the Association of Professional Bankers’ 24th anniversary convention were held yesterday, bringing the APB’s flagship event to a close. Aptly themed ‘Sustainability in volatility: The bankers’ challenge,’ each technical session explored an area that could throw obstacles in the path of bankers and the line-up of speak...
Emirates is offering its passengers star-class accommodation in Dubai from just US$40 per person per night, valid over a whopping 12 months – from November 2012 to October 2013. Available to all Emirates passengers regardless of class of travel, the amazing Emirates Dubai Stopovers promotional offer encompasses a series of exceptional value-added packages for the ...
The NDB Group has delivered yet another strong performance for the first half year of 2012 recording a commendable profit after tax of Rs. 1,362 million to its shareholders, which is an increase of 36 per cent compared to the previous year. Chairman of the Bank Hemaka Amarasuriya stated: “The impressive results are attributable to ...
Sri Lanka Telecom (SLT), the pioneer telecommunication services provider, has in the first half of 2012 posted a Rs. 3.36 billion group operating profit, a growth of 15% Year-on-Year (YoY). Group revenue has increased to Rs. 27.50 billion, an increase of 11% YoY. Depreciation of the Sri Lankan Rupee continued to have a significant adverse ...
Diesel and Motor Engineering PLC (DIMO) recently introduced the first Komatsu PC130-8 excavator to the local market. The first excavator was delivered to Rodrigo Electricals – Wattala Director Randeer Rodrigo by DIMO General Manager – Construction and Mining Machinery Chaminda Ranawana at the DIMO construction machinery service complex at Siyambalape. Speaking at the handing over ...
The ‘Yes-Man’ Parasite, a.k.a. HMV The dictionary definition of a ‘pun’: ‘the clever or humorous use of a word that has more than one meaning, or words that have different meanings but sound the same’. The second word of the headline of today’s column is not exactly a pun, but somewhat akin to one, as ...