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“In order to create long term economic stability, the creation of incremental wealth is imperative,” stated former Hatton National Bank Managing Director and CEO Rienzie Wijetilleke addressing the a luncheon meeting organised by the Sri Lanka – Italy Business Council of The Ceylon Chamber of Commerce. It was also noted at the meeting that whilst ...
Sri Lanka Telecom Mobitel has announced its partnership with the Department of Accountancy of the Kelaniya University to introduce ‘MBus’ – the Master of Business curriculum via its mLearning platform. With the introduction of this new initiative, students will now have the ability to access faculty on the internet via a Mobitel Dongle – making ...
One of the largest healthcare systems providers in Sweden, Cambio Healthcare Systems has set up a research and development centre in Sri Lanka and is now poised to expand further with the vision of being the leading healthcare systems provider in the Nordic regions. “Cambio Healthcare Systems is currently one of the largest e-Health providers ...
With the opening of the ibis Hong Kong Central and Sheung Wan, Accor now operates over 100,000 rooms in the region. “The Asia Pacific region is one of Accor’s strategic growth markets, and I congratulate the regional team and our partners on passing the key milestone of 100,000 rooms in the region,” said Denis Hennequin, ...
A thousand children moving upward and onward, embracing entrepreneurship to win the future – this is what participant children in the Future First program are experiencing. The program is a collaborative venture between Young Entrepreneurs Sri Lanka (YESL) and HSBC targeting 1,000 less affluent children from schools and centres catering to disadvantaged communities. Future First ...
THE Government’s move to use the Labour Commissioner to arbitrate for a solution to the academics strike ended in yet another dead end, prompting questions of whether the Government is prepared to take a serious step to solve the crisis. The offer was rejected for two reasons. One is that the academics insist their grievance ...
By Maheshi Perera Rubber tapping is a profession that requires deep skills and right tools, which is exactly what the rubber industry in Sri Lanka lacks today. The numbers of skilled tree tappers are declining and more and more people are deviating from the industry. This is having a huge negative impact on the rubber ...
The Tokyo Stock Exchange (TSE), which is the third largest equity/stock market in the world with a total market capitalisation of US$ 3.3 trillion, has expressed interest to have Sri Lankan listed corporates on the Colombo Stock Exchange (CSE) to be listed on the TSE as Japanese Depository Receipts (JDRs), stated Ambassador of Sri Lanka ...
By Shanuka Tissera Amendments to the Petroleum Products (Special Provisions) Act have been finalised and approved by the Attorney General. It is expected that both bills will be presented to Parliament shortly for enactment. Pending the enactment of new legislations, the Cabinet of Ministers has appointed the Public Utilities Commission of Sri Lanka (PUCSL) as ...
Reuters: Investors fed up with years of poor returns are deserting BRIC equity funds, pushing share valuations to record cheap levels and questioning the future of the high-profile investment theme. The term, coined in 2001 by Goldman Sachs banker Jim O’Neill, provided a catchy acronym to unite the four biggest emerging economies, two of which ...
The Board of Investment (BOI) hosted last week a high-powered visiting delegation from South Africa led by Deputy Minister of Economic Development MP Prof. Hlenginwe Mkhize, Ambassador of South Africa in Sri Lanka Geoff Doidge, A.N.C National Coordinator and former Minister Renier Schoeman and 30 officials of the ANC and entrepreneurs from South Africa. The ...
The third edition of Richlist, the book about the richest and most successful business people in Sri Lanka, has been launched after a hiatus of four years. The book contains short descriptions of each of the people and companies in the book. Important world and Sri Lanka economic data are interspersed throughout the book. The ...
Sri Lanka Insurance Corporation (SLIC) 2011 Annual Report won two prestigious awards at the recently held 2011 Vision Awards in New York. The awards – a Gold Award in the Insurance category and a Bronze Award for the most improved Annual report in the Asia Pacific region – are especially significant as the Annual Report ...
A Memorandum of Understanding (MOU) was entered into between the Ministry of Health and the National Health Development Fund on behalf of the Government of the Democratic Socialist Republic of Sri Lanka (GOSL) and the Trustees of the Foundation Supporting a National Trauma Service in Sri Lanka, Victoria, Australia (Project BEAP), which is a charitable ...
The first Prime Minister of independent India, Pandit Jawaharlal Nehru, wrote 75 years ago: “It would be absurd to say that the profit motive does not appeal to the average Indian, but it is nevertheless true that there is no such admiration for it in India as there is in the west. The possessor of ...
Power of the village One of the most respected business personalities that Sri Lanka has produced to the multinational belt of companies is Lalith De Mel, better known as J.C.L. De Mel. I was blessed to have had the exposure of being trained by him during the times that he was the Global Director for ...
South Africa, Sri Lankaandrsquo;s leading trade partner in Sub-Saharan Africa and the third most competitive economy in the US$ 13.7 trillion BRICS grouping, is making an unprecedented investment foray in to resurgent Sri Lanka-with no less than US$ 122 million initial investment andndash
The 33rd National Conference of Chartered Accountants structured by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will be held from 18 to 20 October at Waters Edge under the theme ‘Winning: Country, Corporate, Citizen’. It will be a three-day conference with six technical sessions that will feature a panel of highly ...
Around 1,000 delegates in town for Commonwealth Parliamentary Conference and connected activities this week The entire Common-wealth is literally here as Sri Lanka plays host to the grouping’s annual gathering of Parliamentarians – this week, giving the country an excellent opportunity to be assessed firsthand as well as lift its profile globally. The 58th Annual ...
Country fourth fastest growing economy in the world, but Bourse is world’s third worst performer The dichotomy of Sri Lanka of being among the fastest growing emerging economies and worst performers when it comes to the stock market appears to be correcting, according to broking firm DNH
Says foreigners likely to flood capital markets Sri Lanka’s prospects of real economic growth for 2012E appear to be ahead of regional peer economies as well as that of world’s advanced nations, according to Asia Wealth Management. It said latest projections made by IMF indicate Sri Lanka’s expected growth of 6.75% for 2012E is considerably ...
South Africa, Sri Lanka’s leading trade partner in Sub-Saharan Africa and the third most competitive economy in the $ 13.7 trillion BRICS grouping, is making an unprecedented investment foray into resurgent Sri Lanka with no less than a $ 122 m initial investment –and is scheduling
Incident could affect Madurai getting international connectivity: Trade bodies The Hindu: The recent tension over the presence of Sri Lankans in Tamil Nadu has caused trade bodies in southern districts worry over the prospects of international connectivity for Madurai as the first full-fledged international flight was scheduled from Colombo on 20 September. While not going ...
The International Air Transport Association (IATA) last week announced global traffic results for July showing slower growth in both air travel and freight, but with considerable variation by region and market. n July passenger demand in aggregate was 3.4% higher than the same month last year, compared to a 6.3% increase in June and average ...
2012 unlikely to match up to 2011 tea revenue; stakeholders’ voice uncertaintya By Cheranka Mendis The tea industry which brought in revenue of approximately US$ 675 million within the first six months of this year – US$ 50 million below the revenue collected in the same period in 2011 – is likely to fall short ...
The HSBC Youth Enterprise Awards (YEA) 2012 presented by the British Council was held at the Hilton Colombo amidst distinguished guests including Dr Sunil Nawaratne, Secretary, Higher Education Sri Lanka, Tony Reilly, Country Director British Council and Nick Nicolaou, Chief Executive Officer HSBC Sri Lanka and Maldives. Having been assessed through multiple rounds of workshops ...
A salutary reader interest on share market regulation A reader of the previous week’s My View titled ‘SEC: Not a mere watchdog, but a bloodhound mandated to bite’ has raised an important issue with this writer. He has asked the question why it is necessary to have a regulator to police the financial markets and ...
Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from the ...
Sri Lanka Telecom Mobitel has come forward as the Main Sponsor of the 20th Annual National Chamber of Export Awards to be held on 21 September this year. This is the seventh consecutive year that the National Mobile Service Provider will be supporting this endeavour of the NCE as its main sponsor, as they honour ...
Wins two Presidential Travel and Tourism Awards SriLankan Airlines was named ‘Airline of the Year’ for the fourth consecutive year at the SriLankan Tourism Awards 2011, firmly emphasising the National Carrier’s pivotal role in the growth of Sri Lanka’s tourism industry. SriLankan Airlines is proud to serve as a pillar of strength to Sri Lanka’s ...