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Visa has taken its first steps towards entry into Myanmar (previously known as Burma) with a series of training workshops to prepare selected local banks for the introduction of electronic payments as the country continues its economic and social reforms. The workshops are aimed at upgrading the banking facilities to accept and issue international payment ...
Arrived at the Pearly Gates four months early. Better to play it safe as monumental traffic jams are prophesied for 21 December. Checking in was unexpectedly swift; my host at the stately abode better known as the Temple Trees was expecting me. An air of tranquillity and affability greeted me instead of a militarised, regimented ...
is a cornerstone of the Indian Ocean island’s economy and ...
With the generous support of the American people through the US Agency for International Development, Volunteers for Economic Growth Alliance (VEGA) is implementing the US $24 million VEGA/BIZ+ program in Sri Lanka. The program’s main focus is on expanding livelihood opportunities that can enhance economic productivity, boosting household incomes in former conflict areas and promoting ...
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 ...
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 ...
I must have been a famous person in Africa in my previous life. If you believe the world will end on 21 December, you’d believe that, too! If not, you will, after this! This week, I received my 43rd e-mail since the advent of the internet, all from Africa, all well-heeled women, proclaiming my divinely-guided ...
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 ...
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 ...
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, ...
Their share in GDP may be shrinking but people in the Western Province got richer last year, whilst the post-war rebounding north clocked the highest growth in nominal terms. The per capita income of the Western Province amounted to Rs. 491,000 in 2011, up by near 15% from Rs. 428,000 whilst its overall GDP grew ...
The office bearers of the Sri Lanka-China Business Council (SLCHBC) of the Ceylon Chamber of Commerce paid a courtesy call to the newly appointed Ambassador of the People’s Republic of China Wu Jianghao in Colombo. The visit intended to renew the strong ties established between the Council and the Embassy of China in Colombo. Recalling ...
The country has entered into an era that was not witnessed for past 25 years. Growth rates of the economy cannot even be compared during this period as the ground situation in micro terms have changed drastically that was never before during a quarter of a century. The volatility and events
The Pathfinder Foundation (PF) welcomes IMF Country Director Dr. Koshy Mathai’s call for increased exports to India and China. Dr. Mathai, in his keynote address at the Annual General Meeting of the Exporters’ Association, stressed two interlinked themes that have been the subjects of several previous Economic Flashes and Economic Alerts: the decline in Sri ...
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 ...
Whilst tracking the key moments of the London Olympics, I realised how reliant I was on the text updates that beeped on my Blackberry and then when time permits go to YouTube or the official websites to experience this key happening as it unfolds to the world. But, then I realised that my friends had ...
Diversified blue chip Aitken Spence Plc has reported a pre-tax profit of Rs. 918 million for the first quarter, a growth of 25%, over the previous year, while the Group’s revenue rose by 54% to Rs. 8.61 billion. Earnings per share for the quarter stood at Rs. 1.58, an increase of 16% over the corresponding ...
Emirates’ A380 route network has extended to the Netherlands with the launch on 1 August of services to Amsterdam. Emirates is the first carrier to offer a scheduled A380 service to the Netherlands, after just two years since its first flight to Amsterdam. The double decker will operate as EK 0147, departing Dubai to Amsterdam ...
Sri Lanka has achieved excellent results in its Northern and Eastern rehabilitation and resettlement program and post-conflict economic development drive, a top United Nations official has said. John Ging, the Director of the Coordination and Response Division of the UN Office for the Coordination of Humanitarian Affairs (OCHA) with Economic Development Minister Basil Rajapaksa ...
A recollection of collective victory The Sri Lanka Export Development Board (EDB) celebrates its 33rd anniversary in August 2012. EDB deserves a high degree of praise for its remarkable contribution made toward the socioeconomic development of the country, the key national institution for export development and promotion during the last 33 years, sharing its responsibility ...
Every country must have a socioeconomic model for developing the country and achieving sustainable growth and prosperity. The function of a sound model is to transform aspirations into reality by identifying all that needs to be done to achieve the aspirations. What is prosperity? What do we mean by prosperity for a country? My ...
Motel One, citizenM attract guests with contemporary style Budget hotels grew faster than overall sector in 2011 Established chains Holiday Inn, Ibis refurbish By Victoria Bryan FRANKFURT, (Reuters): Hotelier Dieter Mueller wants to achieve a first by creating an international German hotel chain that proves cheap can be so much more than cheerful in the ...
Reuters: British tourism chiefs hope the Olympics and a global advertising campaign will entice more overseas visitors by 2015 and more than compensate for any short-term losses as the country tries to dig out from a double-dip recession. Tourism Minister John Penrose said the 2012 Olympics had given Britain the chance to re-establish itself as ...
The Pacific Asia Travel Association (PATA) has announced that PATA Travel Mart 2013 (PTM2013) and PATA Board Meeting will be hosted by the City of Chengdu, Sichuan Province, China in September 2013, at its PATA’s Executive Board Meeting on July 28, at the Hotel ICON, in Kowloon, Hong Kong. Martin J Craigs, PATA CEO, revealed ...
Thailand-based Centara Hotels and Resorts currently has 55 hotels and resorts in its portfolio, with a mixture of owned and managed properties. In the next five years the company has a target to acquire more than 45 hotel and resort properties with the intention of reaching 100 in 2017. Centara believes its ambitious target to ...
With the opening dates of terminals in the Colombo South Harbour Project in Sri Lanka and Deep Water Container Port in Pakistan now set as 2013 and 2014 respectively, port development in the South Asian region is about to enter another era. When completed, the new deep sea ports in Karachi and Colombo will have ...
British HC commends Sri Lanka for progress made over the years By Cheranka Mendis Ceylon Chamber of Commerce Chairman Susantha Ratnayake yesterday called for a new wave of reforms if the country were to come out of current shocks quickly with the least amount of pain. In his address at the chamber’s 173rd Annual General Meeting, ...
Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets
The International Council of Tourism Partners (ICTP) announced that the Sri Lanka Convention Bureau (SLCB) has become the second destination member from the country. The mission of the Sri Lanka Convention Bureau is to position Sri Lanka internationally as a unique venue for MICE activities, resulting in revenue from MICE tourism that will make a ...