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The development activities already on track will never be stopped or cancelled with the change of ministers, President Mahinda Rajapaksa said this week. “Even with the change of portfolios or a changing of government, the planned development activities should continue as scheduled and those development activities should not be affected,” the President said. He stressed ...
More expansion planned to ride the post-war rebound in tourism and entertainmentBy Cheranka Mendis Hilton Colombo Residence has embarked on a major renovation plan for the hotel to reap post war benefits starting with the expansion and refurbishment of its Union Ballroom. Completed in seven months at a cost of US$ 3 million, the Union ...
Reuters: Congestion at Indian ports is delaying corn and rice shipments to Asia and Africa, dealing a fresh blow to buyers stung by record-high global grain prices as a worsening US drought threatens to spark a shortage in food supply. Ships faced up to 25 days of waiting at ports on India’
We talk more about absenteeism. A new research trend has emerged to look into the opposite of it. There are confusing definitions and complicated diagnostics yet the path is worth exploring. Today’s column is all about presenteeism. Overview Absenteeism, generally defined as not showing up for scheduled work, has a long research history. This ...
Janatha Vimukthi Peramuna (JVP) has called on the Government to immediately address the issues faced by the university lecturers. JVP parliamentarian Anura Kumara Dissanayake said the government should not allow the current crisis in the university sector to further aggravate. He explained that the university lecturers were on strike to win four demands and the ...
KfW should try not to grow too fast New investor types needed for infrastructure Bank business to shrink under regulation, capital requirements FRANKFURT, (Reuters): German state bank KfW predicts a credit crunch due to a shortage of long-term project financing partly due to a retreat
By Shamil Samsul Mueen 1. Introduction The global financial crisis has raised imperative issues concerning the stability and reliability of existing financial systems. This has driven an extensive global re-examination on the competence of the existing financial architecture and the search for a more enduring solution. As a result an increasing interest in Islamic finance ...
By Cheranka Mendis While the aggressive expansion plans for ports in the country are being commended by many due to the potential they hold for the future, it has not been easy sailing for the Sri Lanka Ports Authority (SLPA), which has had to face many turbulent waves ever since development work began. SLPA Director ...
By Cassandra Mascarenhas Setting its sights on placing Sri Lanka in the global economy and expanding its reach in overseas markets, the Sri Lanka Economic Summit 2012, the Ceylon Chamber of Commerce’s annual flagship event, aptly themed ‘Positioning Sri Lanka in the Global Economy,’ commenced last evening at the Cinnamon Grand. In the context of ...
Sri Lanka Ports, Trade and Logistics Conference kicks off By Cheranka Mendis Sri Lanka’s potential as a major maritime and shipping hub in the South Asian region was showcased yesterday at the launch of the two-day Sri Lanka Ports, Trade and Logistics Conference and Exhibition held at the Hilton, Colombo. While times are challenging for ...
or are on the verge of being ruined. Some villages complain of the shortage ...
President Mahinda Rajapaksa has instructed the relevant officials to call tenders for the construction of Northern Expressway before the end of this year. At the progress review meeting of Kandy District Development Committee held in the President’s House in Kandy, the President has informed that plans have already been drawn for the first phase of ...
Sri Lanka’s new development tagline Sri Lanka’s current development tagline has been to make it the ‘Emerging Wonder of Asia’ as originally enunciated in the ‘Mahinda Chinthana: Vision for the Future’ and reaffirmed in both the Development Policy Framework of the Government issued in 2010 and the Annual Report of the Ministry of Finance and ...
Janatha Vimukthi Peramuna (JVP) will intervene to win the demands of the paddy farmers who have been badly affected by the shortage of water in the agricultural areas. JVP politburo member K.D. Lalkantha said that he would take the lead in winning relief for the drought stricken farmers if 10,000
Colombo Page: Ministry of Agriculture sources say that around 20,000 hectares of paddy cultivation is under threat of destruction due to shortage of irrigated water and rains. An estimated 600,000 metric tons of paddy may be lost due to the crisis, Ministry sources say. However, the Minister
Hope shone brightly in the faces of the youth gathered in the Ballroom of Jetwing Blue, as well as within the parents accompanying their children. The stage was set for the inauguration for the fifth Jetwing Youth Development Project (JYDP), this time catering to 37 individuals. The ceremony began according to tradition; with the National ...
Colombo Page: The Agriculture Ministry of Sri Lanka predicts a shortage of rice in country in the event of a failure of the Yala harvest due to the drought. A senior official at the Agriculture Ministry said that the rains have failed and the drought conditions in the agricultural
President of the UNCSD, Secretary General of the UN, excellencies, ladies and gentlemen, it is indeed a great pleasure for me to be here in Rio de Janeiro and to share my thoughts at this momentous event. The presence of so many Heads of State and Governments, Senior Ministers, Officials and thousands of members of ...
A few weeks ago, based on a proposal made by the Minister for Environment, the Cabinet of Ministers agreed and informed the public that the legal requirement that permits to be obtained for the transport of sand during day as well as in the nights had been discontinued. The action was to reduce the burden ...
Given that Sri Lanka is to launch its IPL version later this year branded Sri Lanka Premier League (SLPL) and there is a trend globally for sports to be integrated to business, I thought of picking some insights that are emerging from the recently-concluded Indian Premier League (IPL). IPL A key pick up from the ...
By Amantha Perera IRIN: Three years after conflict ended in northern Sri Lanka, many thousands of civilians remain separated from their ID cards and other official documents lost in the heat of battle and are consequently unable to access a range of essential Government services. From 2008 until the war was declared over in May ...
Whilst acknowledging progress, business tycoon Harry Jayawardena has renewed his call for a more enabling environment to boost private sector investments to a desired level, warning that rest of Asia was fast reaping benefits of such strategy. “The region offers many examples of how enabling environments have thrust their private sectors to the forefront of ...
The Hindu: The major economic problem of India is that agriculture and allied activities account for only 15 per cent of GDP while 70 per cent of the country’s population lives in rural areas. With a growth of agriculture at a rate significantly lower than that of GDP, the trend is an inexorable reduction of ...
TOKYO (Reuters): Asian shares and commodities slid while the euro fell to its lowest in almost two years against the dollar on Thursday, as surging borrowing costs in troubled Spain raised fears that it could fail to rescue its banks and may need to seek a bailout. Investors fled from risk assets to U.S. government ...
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011. As a result the trade deficit widened, putting the ...
The Royal Bank of Scotland Group’s Head of Rating Advisory Raymond Woo had recently called on Economic Development Minister Basil Rajapaksa. “Sri Lanka was able to control the impact of internal and external crisis successfully due to the efficiency of the political, economic and administrative management of President Mahinda Rajapaksa,” Minister had told Woo. Minister ...
In mid February, the Ceylon Electricity Board (CEB) informed consumers of their intention to revise their electricity charges from the following month. The March electricity bill issued to the consumer by the meter-reader was based on previous rate. The April bill based on revised rates with the addition of fuel surcharge for March was sure ...
Sri Lanka’s top policy administrator, Dr. P.B. Jayasundera, popularly known by the initials of his name PB, is reported to have proclaimed that Sri Lanka should stop altogether the importation of tea from abroad for blending purposes for it would tarnish the reputation which the country has earned for centuries as the best tea producer ...
Predicts wide-body 777 would be a success Warns Airbus on delays of its A350-1000 DUBAI (Reuters): Dubai’s flagship carrier Emirates has urged Boeing to make up its mind quickly on plans for an enhanced version of the wide-body 777, predicting it would be a success in the market. Emirates’ President Tim Clark also warned Boeing ...
Asian prices return to pre-Lehman crash high New production start-ups to add 10 cargoes/month Europe re-exports record number of cargoes London (Reuters) : Asian liquefied natural gas (LNG) spot prices for July delivery hit highs not seen since mid-2008 this week as import demand from a nuclear power-free Japan rose while recent high oil prices ...