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The NDB Group has delivered yet another strong performance for the first half year of 2012 recording a commendable profit after tax of Rs. 1,362 million to its shareholders, which is an increase of 36 per cent compared to the previous year. Chairman of the Bank Hemaka Amarasuriya stated: “The impressive results are attributable to ...
1.Lack of priority for consultative policy planning Education is regulated in this country by a colonial Education Ordinance (1939) and post-independence legislation on higher education culminating in the Universities Act (1978). Various expert policy advisory bodies like the University Grants Commission (UGC) and the National Education Commission (NEC) examined the regulatory framework many...
Several dual citizens as well as former expats who have settled home recently have expressed concern over the blocking of remittances abroad via Central Bank’s recent rules on NRFC accounts, a move they alleged suggests the country could be facing a forex crisis. In an announcement in mid
By Martin Roll The last decade has seen cities, islands and countries aggressively branding themselves in order to create a resonating identity among stakeholders and build sustainable lifetime customer relationships. Country branding refers to a process in which a country claims a distinct positioning in the minds of its citizens, global customers and stakeholders. To ...
The Central Bank is expected to keep interest rates steady for a fourth straight month on Tuesday as a spike in inflation to a 42-month high complicates its efforts to bolster cooling growth. All 11 analysts polled by Reuters expected repurchase and reverse repurchase rates to be left unchanged at 7.75% and 9.75% respectively. Both ...
In Sri Lanka to empower and enlighten Sri Lanka’s business community and budding entrepreneurs, Chair Emeritus and board member of the MIT/Stanford Venture Lab Gigi Wang will host a seminar titled ‘Success drivers of Silicon Valley – venture capital, investment and business opportunities for Sri Lanka’ tomorrow in collaboration with Infotechs Ideas. Speaking to the ...
The following is a statement issued by Vitol Group regarding allegations on inferior diesel supplies which has caused a crisis among motorists: The Vitol Group of Companies strongly refutes any allegation that the cargo of Diesel supplied under tender BKl35l2O12 and discharged at Dolphin Pier on 22
Top apparel exporter Brandix partnered with banking giant HSBC to assist more than 600 families facing severe hardship in Sri Lanka’s dry zone due to the prevailing drought. Working with local councils and officials of ‘Grama Niladhari’ Divisions, the two corporate entities have funded the transport of water to needy families in six villages in ...
Reuters: The International Monetary Fund on Thursday called for a “policy game changer” in the euro zone to arrest the spread of the debt crisis it now says is clearly engulfing the entire currency bloc and its smaller neighbors. An IMF spillover report that looks at how the economic
In the global public relations business, Asia is also rising. The flow of Western talent and treasure into the region is well known in our industry, but less visible is the advance of many powerful Asian consultancies with international ambitions which are rising fast. On my 10th anniversary here I would like to share 10 truths ...
It is reported that the European Commission has requested approval from its 27 members to commence negotiations with Japan for a Free Trade Agreement (FTA). The once all powerful bloc, which is now having to cope with many a crisis, has sought this agreement as part of a broader effort to boost
Reuters: Over the past couple of years, Europe has muddled through a long series of crunch moments in its debt crisis, but this September is shaping up as a “make-or-break” month as policymakers run desperately short of options to save the common currency. Reuters: Over the past couple
by Sarath De Alwis The crisis is not in our system of higher education. The crisis is in not knowing what higher education is. Arrogance of presumed superior knowledge of the policy makers and dogmatism of the teachers has precipitated a debate that reflects a pedantry of crisis proportions. We do not seem to have ...
By Hamid Mahmood Aid is part and parcel of the development package in South Asia. The book titled ‘Foreign Aid in South Asia: Emerging Scenario; offers insights into the role of foreign aid in South Asia’s development. It covers the chronology of aid development and provides a detailed examination of South Asian countries’ adaptation to ...
Janaka Walisundera, an international business management professional has been appointed as the Chief Executive Officer of UB Finance Company recently. UB Finance, which was formed with the acquisition of The Finance & Guarantee Co Ltd by Sri Lanka’s premier financial institution, Union Bank of Colombo PLC and its international strategic investment partner ShoreCap II Ltd., ...
This is a day quite dear to some 300 million plus people in United States of America. Irrespective of their land of origin, the day is celebrated as the day of independence commemorating the adoption of the Declaration of Independence and the Founding Fathers remembered. The fourth of July this year is also important for ...
Sri Lanka needs a new wave of reform to avert a possible balance of payment (BoP) crisis, stressed Ceylon Chamber of Commerce Chairman Susantha Ratnayake.
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 are well aware of the risk-return tradeoff intrinsic to these markets. Low ...
By a Special Correspondent A year or back from today, Sri Lankan economy had been sailing strongly amidst global economic typhoons. Most of the macro variables were reflecting peace dividends and rejuvenated hope. However, by mid 2011, the country’s trade deficit, fuelled by credit expansion was signalling early signs of an economic turmoil. Perhaps being ...
The Ceylon Electricity Board (CEB) has decided to impose country wide power cuts from Monday (23). Power cuts will be imposed daily for two hours in the morning and afternoon in selected areas, the CEB says. The power crisis has been caused by the collapse of power generation at two thermal plants
Former White House Communications Director to lead firm Burson-Marsteller, a leading global public relations and communications firm, today announced the appointment of Donald A. Baer as Worldwide CEO. Baer has wide-ranging executive experience across the worlds of media, communications, journalism and politics, including serving as White House Communications Director and Chief Speechwriter for Pr...
‘Shakthi’ fundraiser by Emerge Lanka Foundation today ‘Shakthi, a Celebration of Femininity,’ a fundraiser for Emerge Lanka Foundation to spread awareness about sexual assault/abuse through artistic avenues, will be held at Barefoot Café today, 21 July, from 6 to 10 p.m. Emerge Global is dedicated to empowering young women around the world who have ...
‘Z-score and crisis in education’ is the theme of the monthly ‘Sambhashana’ panel discussion organised by Transparency International Sri Lanka (TISL) to be held at the auditorium of the Organisation of Professional Associations (OPA), Stanley Wijesundera
By Harold Burson, Co-Founder and President, Burson-Marsteller Receiving more recognition than it deserves is a recently-voted ‘modern’ definition of public relations, resulting from a competition sponsored by the Public Relations Society of America (PRSA). It was selected in a voting process in which 1447 votes were cast, presumably most of them members of PRSA and ...
UNCTAD released its World Investment Report 2012 recently. The report indicated that for the first time since 2007, global FDI inflows increased by 16% despite the continuing effects of the global and financial economic crisis. However, UNCTAD predicts the FDI growth rates to decline in 2012 due
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
The Sri Lanka Economic Association or SLEA, the long-standing professional body of economists of Sri Lanka, has published some selected papers presented at its Annual Sessions in October 2011 in a volume titled ‘Achieving Economic Goals in the Midst of Global Challenges,’ the theme of the sessions. The volume, edited by two veteran economists – ...
The conference on ‘Sri Lanka Ports Trade and Logistics’ concluded recently at Hilton Hotel Sri Lanka, revolved around the need to market Sri Lankan ports globally with a view to achieving a better synergy between maritime and logistics operations in Sri Lanka, with its geo-strategic location along the main International Shipping Lane. This apart strategic ...
China was a tower of strength to Sri Lanka, especially when we faced various challenges in the international arena, External Affairs Minister Prof. G.L. Peiris said. The Minister was making the keynote address at the 55th anniversary of the establishment of diplomatic relations between Sri Lanka and the People’s Republic of China and the 60th ...