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Vesak is a time to revisit and refocus on the core of Buddhism. It is also the time to see how Buddhist principles of truth, peace, honesty and kindness can be promoted in the country. At the start of the week, just a cursory glance at the newspapers reveals many things that could do with ...
- Tactful Diplomacy Will Bring Durable Solution (Category: Breaking News)
- Notre Dame Federal Credit Union raises minimum wage to $16 an hour (Category: USA, Indiana)
- Museums' hidden treasures unveiled (Category: Technology)
- It's not a land of ‘mañana,’ but it is a good land (Category: USA, New Mexico)
SriLankan Airlines expands its operations in the North of Sri Lanka, opening its newest Sales Office in the heart of the Jaffna Peninsula yesterday. The branch office will facilitate travel formalities to a large clientele in the Jaffna and Kilinochchi areas, being fully equipped to handle reservations, ticketing, Prepaid Ticket Advices (PTAs), requests for special ...
- SriLankan Airlines now in Jaffna (Category: Breaking News)
- SriLankan arrives in Hambantota (Category: Business)
- SriLankan opens an office in the Northern capital (Category: Breaking News)
- Lankan Army construct new Army base at Jaffna Port (Category: Breaking News)
Commercial ties offer many profitable opportunities, says Pakistan’s High CommissionerFollowing is the statement of the High Commissioner of Pakistan Seema Ilahi Baloch, on the occasion of the ‘Made in Pakistan’ exhibition 2012 Pakistan and Sri Lanka have traditionally enjoyed excellent relations. We also need to strive to add more substance to our economic cooperation and ...
- Pakistan wants strong economic ties with Lanka (Category: Breaking News)
- Pakistan wants strong economic ties with Lanka (Category: Breaking News)
- Sri Lanka, Pakistan FTA review meeting concludes with success (Category: Business)
Reuters: Nepal’s prime minister worked on Friday to form a coalition government that will include the main opposition parties after his cabinet quit as part of a negotiated effort to quell political tumult in the desperately poor Himalayan state. Nepal, wedged between its giant neighbours China and India, has been plagued by instability for years ...
- Delegation from Nepal arrive to promote ‘Visit Lumbini 2012’ (Category: Business)
- Fonseka Group refused Asylum in Nepal (Category: Breaking News)
- Report: Nepal Rejected Refugee Status To SF Supporters (Category: Breaking News)
- April 8: The best case scenario in Sri Lanka (Category: Breaking News)
The Singer Group, with revenue of Rs. 6.2 billion for the first quarter of 2012, expressed confidence in its continued growth. The growth was on top of very high growth in prior year. Noting that group revenue rose by Rs. 1.1 billion in absolute terms and by 22% in percentage terms over the first quarter ...
- Singer partners Artmatrix (Category: Business)
- Singer’s profit doubles in first 9 months (Category: Business)
- Singer Sri Lanka ends 2011 with Rs. 22 b revenue; profits up 95% (Category: Business)
- Singer Finance goes for Rs. 645.3 m Rights (Category: Business)
President Mahinda Rajapaksa along with his officials early this week held a meeting with the senior management of SriLankan Airlines to discuss the progress and future plans of the national carrier. As per the Central Bank 2011 Annual Report, revenue of SriLankan Airlines had increased by 16.3% to Rs. 78.9 billion, while operating expenditure increased ...
- Economy Exercise (Category: Business)
- Social Media (Category: Business)
- New Wings (Category: Business)
- Flexible Flights (Category: Business)
American Express card members stand a chance to win Rs. 25,000 daily this May. They simply need to spend Rs. 2,500 to win. Every Rs. 2,500 spent per day through the American Express Credit Card entitles the card member to one entry for the daily draw. Multiples of Rs. 2,500 spent will entitle the card ...
- Big wins for American Express card members (Category: Business)
- American Express extends Rs. 25,000 daily giveaway (Category: Business)
- American Express extends ‘Big Wins’ offer (Category: Business)
- American Express to reward spenders with Samsung Galaxy SIII giveaway (Category: Business)
The name ‘Jetwing’ has long been associated with caring, and a commitment to hospitality as well as the environment. For almost 40 years, the family owned company has grown tremendously, from humble beginnings in Negombo in 1963. Future projects, planned to bear fruit in the next three years, include the doubling of the current room ...
- Jetwing introduces Galle Heritage Villa (Category: Business)
- Jetwing Sea honours with PATA Gold award (Category: Business)
- Jetwing Hotels says ‘lights out’ to mark Earth Hour 2012 (Category: Business)
Further highlighting its strong position as one of Sri Lanka’s fastest growing banks, Union Bank reported a noticeable upturn in its performance for the period ended 31 March 2012. The bank’s operating profit before VAT and corporate tax improved by 21.4 %, recording Rs 142.7 m up from Rs. 117.5 m for the period ended ...
- Union Bank Q2 income up by 58.6% (Category: Business)
- Sampath ends 3Q with group net profit up 51.7% to Rs.3.2 b (Category: Business)
- NDB group records Rs. 1 b profit in 1H (Category: Business)
The Asian Development Bank (ADB) said yesterday it has secured Special Drawing Rights 7.9 billion ($ 12.4 billion) for the next four-year phase of its concessional development fund that will provide critical financial support to fight poverty in the Asia and Pacific region. The contributions to the Asian Development Fund (ADF), which will cover ADB ...
- ADB says loan fund for poor nations may reach $12 b (Category: Business)
- ADB Director General in town (Category: Business)
- More ADB assistance for the North (Category: Breaking News)
- ADB’s new regional DG calls on President (Category: Business)
Much has been spoken of the Sri Lankan economy by different bodies including the guardians of the economy (the Central Bank and Government Treasury). There is constant backlash to the Government bringing out historical events while portraying a very bleak future, although the Government has taken corrective action to address any major economic catastrophe. The ...
- Fitch affirms SLT at ‘BB-’ (Category: Business)
- Bartleet Finance launches ‘Bilindu’ (Category: Business)
- S&P fires warning on Sri Lankan banking system; ranked along with Nigeria (Category: Business)
At Monday’s encounter with the media, there was an apparent sense of frustration in Treasury Secretary Dr. P.B. Jayasundera over the manner in which markets and businesses have failed to respond to what he described as ‘fundamentals” but being swayed by speculation. A series of monetary and fiscal policy measures effected from as far back ...
- Sanity will prevail, over speculation says Dr. PB (Category: Business)
- Rupee soars after Dr. PB’s remarks (Category: Business)
- Govt. on right course, private sector must adapt and grow: Dr. P.B. (Category: Business)
- Drought may cut growth to 6.7% (Category: Business)
Reuters: Sri Lanka’s annual inflation rate accelerated to a seven-month high of 6.1% in April from a year earlier mainly due to expensive imports after rupee depreciation and price hikes in fuel and electricity to reflect rising oil prices. Inflation rose to 6.1%, above the 6.0% expected by analysts and up from 5.5% in March, ...
- April annual inflation up 6.1% (Category: Business)
- Inflation rises to six month high of 5.5% (Category: Business)
- May annual inflation rises to 7% (Category: Business)
- September annual inflation eases to eight-month low (Category: Business)
By Mani Shankar Aiyar It is curious but true that although from the time of Mahatma Gandhi leading the struggle for Independence to the present day there has been extensive recognition in India of the imperative of effective Panchayat Raj1 (local self-government) for both deepening India’s democracy and making its development processes “inclusive”, that is, ...
- Governance - Four examples; two bad and two good (Category: Business)
- Rahul Gandhi may succeed as Congress chief in weeks — report (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- Stromme strives to fight poverty in global south (Category: Business)
SINGAPORE (Reuters): The Ceylon Petroleum Co (Ceypetco) has unexpectedly shut a unit at its 50,000 barrels-per-day refinery, reducing its jet fuel production, a company source said on Monday. The shutdown is expected to last a week, said the source who was speaking on condition of anonymity as he was not authorised to speak to the ...
- Asia distillates: Margins slip on excess supply (Category: Business)
- CPC floats fresh tender (Category: Business)
- CPC refinery to start production by tomorrow (Category: Business)
- CPC renews gasoil term with Vietnam Petro firm’s affiliate (Category: Business)
SINGAPORE (Reuters): Asian gasoil and jet fuel margins slipped on Monday as refineries returned from maintenance, adding to supply, while demand remained steady. The gasoil crack for May slipped 30 cents to $16.47 a barrel over Dubai crude, while the jet fuel crack fell 32 cents to $16.79 a barrel, Reuters data showed. Japan’s Cosmo ...
- Sri Lanka, Philippines spot demand supports Asian gasoil market (Category: Business)
- Asia distillates-high sulphur gasoil premiums down on demand dip (Category: Business)
- CPC renews gasoil term with Vietnam Petro firm’s affiliate (Category: Business)
- Lanka IOC seeks over 70,000 T gasoil, gasoline for May (Category: Business)
Finance Ministry Secretary Dr. P.B. Jayasundera yesterday insisted that the recent fall in the value of the rupee was unwarranted and blamed it on speculators as recent corrective policy actions had strengthened fundamentals for greater stability in the exchange rate. “The recent spike is due to speculation more than on fundamentals. I reiterate that the ...
- Believe us today like when the going was good: Dr. PB (Category: Business)
- IMF’s take on Sri Lanka’s good, bad and the ugly (Category: Business)
- Rupee soars after Dr. PB’s remarks (Category: Business)
- Borrowed surplus looming, warns Harsha (Category: Business)
Reuters: Asian shares rose on Monday as weaker-than-expected U.S. growth data left open the possibility of further monetary stimulus from the Federal Reserve to boost growth, but trading was subdued with Japanese and Chinese markets closed. The dollar remained pressured by Friday’s report showing annual growth in the U.S. economy cooled in the first quarter ...
- Asian shares rise as China data soothes, caution caps (Category: Business)
- Asian shares slump after S. Korea rate cut, Australia jobs data (Category: Business)
- Asian shares fall on sluggish US jobs, focus on more data (Category: Business)
- Shares, euro dip on Europe; French bond auction eyed (Category: Business)
VESAK is the festival of light. Yet this year it seems that the lights will have to be dimmed to reflect the reduced lustre of the country’s economy. As the Power and Energy Ministry organisers raffle draws for people who save electricity during the upcoming religious season there are many other efforts happening behind the ...
- Plane explodes near school (Category: South Australia)
- Hayleys Consumer’s ‘Light-Styles’ glow at architectural lighting showroom (Category: Business)
- No electricity tariff hike this year (Category: Business)
Reuters: China COSCO Holdings Co Ltd, flagship of the country’s biggest shipping conglomerate, made a net loss in the first quarter of 2.7 billion yuan ($429 million) as a continued supply glut in its bulk carrier business pushed freight rates to loss-making levels. China COSCO, which operates the world’s largest bulk cargo fleet and is ...
- China COSCO reports $ 326 m Q3 loss (Category: Business)
- COSCO posts H1 loss on falling freight rates (Category: Business)
- COSCO says resolved some lease disputes, ship owners hopeful (Category: Business)
- Global shipping downturn worse than 2008-China (Category: Business)
According to the preliminary traffic figures from the Association of Asia Pacific Airlines (AAPA) for the month of March 2012, international air passenger demand showed sustained growth, while international air cargo markets remained weak. Supported by an improvement in business travel markets, airlines based in the Asia Pacific region carried a combined total of 17.2 ...
- Mixed fortunes in September for Asia Pacific airlines (Category: Business)
- AAPA on Asia Pacific airlines performance in November (Category: Business)
- Steady growth in 2011 for Asia Pacific Airlines (Category: Business)
- Asia Pacific airlines start 2012 with growth in traffic (Category: Business)
A new concept cargo ship equipped with giant composition sails to augment the engine has been designed by a team at the University of Tokyo The sails will be made from 5 sheets of aluminium and fibre reinforced plastic, and will each stand 164 feet tall and 65 feet wide. The 5 sheets which ...
- Emergency sails through (Category: Breaking News)
- Preparing for winter sails (Category: Business)
- Serena sails through, Venus crashes out (Category: Business)
- Buffett sails back into Tinley Park (Category: USA, Illinois)
Reuters: A United Nations-backed court convicted former Liberian president Charles Taylor of war crimes and crimes against humanity, the first time a head of state has been found guilty by an international tribunal since the Nazi trials at Nuremberg. The first African leader to stand trial for war crimes, Taylor had been charged with 11 ...
- Queen’s 10,000 diamonds on display in London (Category: Business)
- Paul takes over as Blue Diamonds Chairman, Anura as Deputy (Category: Business)
- Blue Diamonds and Daya Senanayake are forever! (Category: Business)
- Blue Diamonds shines with 100% rise in 2Q turnover (Category: Business)
Reuters: Indian Oil Corp is ready to help Sri Lanka cut its heavy dependence on Iranian crude imports, as tighter Western sanctions hit supplies from Tehran, IOC subsidiary Lanka IOC told Reuters on Thursday. A top Lanka official said it was ready to help in a $ 2-billion upgrade of Sri Lanka’s 50,000 barrels per ...
- IndianOil to set up refinery in Sri Lanka for Rs 20,000 cr (Category: Breaking News)
- IndianOil to set up $3.6 bln refinery in Sri Lanka (Category: Breaking News)
- IOC plans $ 3.6 billion refinery at Sapugaskanda (Category: Business)
- Indian oil company to set up refinery in Sri Lanka (Category: Breaking News)
HNB Pathum Vimana, the biggest deposit draw in Sri Lanka, has rewarded countless Sri Lankans with amazing prizes over the last twenty years. The lucky winners of the Pathum Vimana 2011 draw received their prizes at a ceremony organized by Hatton National Bank. The prize presentation for the winners was held at HNB Towers on ...
- HNB donates school books in Nochchiyagama in conjunction with Deyata Kirula 2012 (Category: Business)
- HNB promotes Pathum Vimana 2012 (Category: Business)
- Independence Day launch for HNB Pathum Vimana 2012 (Category: Business)
- HNB launches Pathum Vimana 2012 on Independence Day (Category: Business)
The Department of Railways has imported 15 oil tank carriages from Pakistan to expand transportation of fuel through the railways. These oil tank carriages have been imported under the Pakistani Aid Program. Each tank has the capacity of storing eleven thousand gallons. The General Manager of Railways B.A.P Ariyarathna said that transport of fuel to ...
- SLDR Imports 15 Oil Tank carriages (Category: Breaking News)
- ‘Space ball’ mystery solved (Category: Australia, Queensland)
- Jet 'could have exploded' (Category: Australia, Queensland)
- Fuel spill at Colombo port (Category: Breaking News)
Colombo Dockyard PLC on Friday laid the keel, to mark the commencement of construction of the largest vessel in its history of Shipbuilding, a 400 Passenger cum 250 Ton Cargo Vessel for the Administration of Union Territory of Lakshadweep, India. This is the first vessel of a series of two vessels that has been ordered ...
- Colombo dockyard to build largest vessel (Category: Breaking News)
- Colombo Dockyard lays keel for platform supply vessel for S’pore (Category: Business)
- Support Vessel (Category: Business)
- Support Vessel (Category: Business)
The International Air Transport Association (IATA) last week called upon governments to work together and with the aviation industry to maximise aviation’s ability to sustainably drive global economic development and job creation. “Governments and industry share a common interest in aviation’s success. Aviation is a business and a driver of economic and social development that .....
- IATA disappointed with CJEU opinion; Urges global solution through ICAO (Category: Business)
- UN aviation body says emissions proposal by year-end (Category: Business)
- IATA calls for harmonization and vigilance for secure aviation (Category: Business)
- Qantas’ Joyce is new IATA Chairman (Category: Business)
The rupee edged down on Friday due to importer dollar demand despite the Central Bank saying $ 574 million inflows are expected within a month. The rupee ended at 120.20/30 against the dollar, weaker than Thursday’s close of 129.70/90. It fell to 130.60 intraday, but a State-owned bank sold dollars at 130.40, helping the currency ...
- Rupee on a yo-yo! (Category: Business)
- Stocks at three-week high; rupee steady (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- Remittances, exporter conversions boost Sri Lanka rupee (Category: Business)
LONDON (Reuters): Warm weather and fears of a fuel shortage helped drive the biggest increase in British retail sales in more than a year in March, raising chances that recovering consumer spending may have helped the economy to avoid recession. The unexpectedly strong figures will come as a relief for policymakers as they try to ...
- Auto Appetite (Category: Business)
- Auto Market (Category: Business)
- British official retail sales dip after riots (Category: Business)
- S. Korea April retail sales drop (Category: Business)
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