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The Sri Lanka Economic Summit will be held in Colombo from 10 to 12 July. The event organised by the Ceylon Chamber of Commerce for the thirteenth year will have a number of sessions examining diverse issues related to the country’s economy. KPMG Sri Lanka Partner Head of Tax
Case study Middle East Sri Lanka is one of the most sought-after tourist destinations in the world. It is surrounded by the Indian Ocean strategically located between West Asia and South East Asia and has been an important stop on the silk route or the Silk Road. It has all requirements to be one ...
The renowned Thomian Society of Colombo brings on stage one of the most expensive and yet completely sought after plays on stage on Sunday, 8 July at 7.30p.m. at Waters Edge. Feroze Kamardeen’s renowned H.G.H.E. Pusswedilla has hitherto drawn packed houses at the Lionel Wendt Theatre. Many were known to have gone away disappointed for ...
By Uditha Jayasinghe As the rupee weakened further, the United National Party (UNP) yesterday discharged a fresh salvo against the Government’s economic management, insisting that the rupee’s decline was being “militaristically controlled” and called for greater transparency. Referring to reports that banks stopped quoting spot prices after what dealers said w...
Rio+20 has come and gone. For some, with June gone, the task may be looking at the flavour of the month for July to prop up different hoardings. The conference was concluded successfully and most of the final photos and comments indicated it was well attended and well run and perhaps well concluded. For sure, ...
The Standard and Poor’s (S&P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable. There are also issues related
The Sri Lanka Economic Association (SLEA) on Friday 29 June will launch a book titled “Achieving Economic Goals in the Midst of Global Challenges” containing the proceedings of its 2011 Annual Sessions. It will be held at HARTI Auditorium, Hector Kobbekaduwa Agrarian Research and Training Institute, 114, Wijerama Mawatha, Colombo 7 at 4.30 p.m. SLEA ...
Reuters: Coca-Cola Co. announced a further $3 billion in investment in India over the next eight years on Tuesday as the world’s biggest soft drinks maker seeks to expand in a country where its flagship brand trails rival Pepsi. The investment by Coca-Cola and its bottlers, on top of a $2 billion five-year plan announced ...
By Shelton Dharmaratne Changing global trends will continually pose challenges to economic theory and policy and the ways in which we analyse tourism activity. Sri Lanka Tourism’s public policies are trapped in a dynamic, ongoing process and it has become increasingly evident that the Government is struggling to comprehend the tourism industry, its impact and ...
Reuters: India is optimistic it can seal a free trade deal with the European Union and is urging its negotiating partner to settle the details of an agreement it says would benefit both their stumbling economies. The two sides have disagreed over duties on car imports – India’s tariff on European cars being nearly 10 ...
CEMS-Global USA Conference and Exhibition Management Services Ltd., in association CEMS Bangladesh, are pleased to present once again three comprehensive International Exhibitions focused to the entire textile and garment sector of Bangladesh named, ‘13th Textech Bangladesh 2012 International Expo – An International Exhibition on Textile Garment Technology and Machinery along wit...
A solution for loss-making SOEs? In the USA, a new corporate entity referred to as a Benefit Corporation (B-Corp) has been brought into being. The states of Maryland, New Jersey, Virginia, California and Vermont have legislation which permits companies to combine the profit motive with the purpose of making a positive impact on society and ...
MUMBAI/NEW DELHI (Reuters): India announced steps on Monday to bolster the embattled rupee, including a $5 billion increase in the foreign investment cap in government bonds, but disappointed markets hoping for bolder action to prop up a currency that hit a record low on Friday. After the central bank raised the bond limit to $20 ...
Economic Development Minister Basil Rajapaksa said developing weekly fairs throughout Sri Lanka under the Divi Naguma Sathipola concept will make Mahinda Chinthana vision a reality since sathipolas had served the island’s economy as barter exchange centres in towns and villages
Reuters: Swedish retailer IKEA, the world’s largest furniture maker, is opening up in India, marking a crucial step for the Indian government whose policy flip flops related to foreign investment have damaged market confidence. The company, known for huge stores selling flatpack furniture and accessories, said it would invest 1.5 billion euros to open 25 ...
Differences of opinion are normal It is not unusual for one to find instances where there is a difference of opinion as to how one sees oneself and how others see him. Such differences invariably lead to hurling charges at each other and even making counter-charges to prove that the original opinions expressed had all ...
By Cheranka Mendis NDB Group yesterday introduced full service investment banking operations with the re-launch of Capital Development and Investment Company (CDIC) under a new corporate identity as NDB Capital Holdings Plc. NDB Capital Holdings CEO and Director Vajira Kulatilaka (second from left) addresses the media yesterday. Others from left are NDB Capital Holdings Chief ...
A new social contract between Government and the people The Friday Forum comprises a group of concerned citizens who have come together to consider current issues of public interest with a view to making meaningful contributions towards peace, democracy, good governance and social justice in Sri Lanka. The recent attack on the Dambulla Mosque is ...
By Shanuka TIssera In an annual fellowship held on Tuesday (19), Gamma Pharmaceuticals Pvt. Ltd and Interpharm Pvt Ltd showcased their latest product – Gamma’s Gripe Mixture and provided attendees with an in-depth, up to date position of both companies including their means to a brighter future. From left: Product Development Executive Mahesh Arthanayaka, Manager ...
By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard
As Sri Lanka-Japan bilateral discourse completes 60 memorable events, Japan has become our seventh largest international trade partner. “The total bilateral trade turnover between the two nations has grown to $ 1,250 m in 2011. Japan, our seventh largest trade partner in 2011, has always been a key trading nation as well as a generous ...
Offers $ 43 b in overall deal which will see Fund’s base doubling to $ 456 b Reuters: China on Monday offered $43 billion to the IMF’s crisis-fighting reserves, rounding off a global push to nearly double the Fund’s war chest to $456 billion to help protect countries from fallout from the euro zone debt ...
Market’s value up Rs. 23 b, ASI back again in 5,000-points level The Colombo stock market produced a confident rebound yesterday driven by high net worth investors as well as institutions picking up low valued opportunities. The market’s value rose by Rs. 23 billion, slightly lower than Friday’s gain of Rs. 26 billion. The rise ...
Reuters: Sri Lankan shares ended a tad firmer on Monday in thin trade as late buying in blue chips helped to offset short term profit taking by retail investors earlier in the day, brokers said. The Colombo Stock Exchange’s main index fell 1.1% in early trade, but recouped its losses and closed 0.14% or 6.89 ...
A top Government politician is among scores of investors who have received notice of summons by the Securities and Exchange Commission (SEC) as part of regulator’s move to punish manipulative trading. The Daily FT learns the SEC has fired letters to concerned investors based on material and information it has in possession following investigations in ...
Speaking at a forum organised by KPMG in Sri Lanka for chief financial officers and chief risk officers of banking institutions, KPMG India’s Partner and Head of the Financial Risk Management (FRM) practice, Rohit Bammi emphasised that local banks have the opportunity to further enhance their risk management functions. In his opening remarks, Rohit discussed ...
In the first five months of 2012, HSBC has broadened its global renminbi (RMB) network coverage to 59 markets with RMB Trade Settlement capabilities. The recent launch of RMB Trade Settlement services in Jordan further consolidates HSBC’s position as the leading international RMB bank and complements its existing RMB Trade Settlement capabilities in 19 Asia-Pacific ...
will come from looking downmarket at low-cost, high-return economy hotels ...
The global financial crisis of 2008/09 has not sent migrant workers streaming back home, despite worsening employment prospects and anti-immigration rhetoric in some destination countries, says a new book on migration and remittances, published by the World Bank last week. In fact, migrants may have mitigated some of the pain of the crisis as they ...
The Oxford Dictionary definition of ‘inept’ is ‘acting or done with no skill’. An ineptitude results is such behaviour being manifested An ‘Inept’ocracy’ has been defined in the Urban Dictionary as ‘a system of government, where the least capable to lead are elected, by the least capable of producing, and where the members of society ...