The passenger sales operations of Emirates in Sri Lanka have been recognised for outstanding performance in 2010/11 with an award for sales excellence, presented at a recent regional conference of the award-winning Dubai-based international airline. The award is in acknowledgement of revenue growth that has exceeded budgeted levels and reflected a 31 per cent improvement ...

WASHINGTON,  (Reuters): U.S. retail sales grew at their fastest pace in seven months in September as consumers shook off concerns about a weak stock market and political gridlock, giving a bit more momentum to the economic recovery. Sales rose 1.1 percent from a month earlier, boosted by strong auto purchases, the Commerce Department said on ...

Sir Richard Branson, the founder and Chairman of the Virgin Group, has said that the world faces “the mother of all recessions” unless much more is done to encourage the development of renewable energy. Addressing delegates at the third annual Six Senses Slow Life Symposium at Soneva Fushi in the Maldives, last week Sir Richard ...

Global banking giant HSBC is upbeat on Sri Lanka’s external trade, predicting exponential growth above global average over the next 15 years. In its October 2011 dated HSBC Trade Connections Trade Forecast Quarterly Update, HSBC said Sri Lanka’s external trade would grow in volume terms by 105% by 2025 and value wise by 83% to ...

economy where the brand is owned has a ...

and other South East Asian countries. “As a vibrant city thriving on knowledge economy, Bangalore ....

Reuters: China will cut retail ceiling prices for gasoline and diesel by about 3 percent from Sunday, taking prices off record highs at a time when headline inflation eased from a three-year peak. The National Development & Reform Commission (NDRC), the country's macro policy maker said the price cut, at 300 yuan per ($47) per ...

Last year, the world’s airlines spent $140 billion on jet fuel. Now, the Air Transport Action Group (ATAG), an organisation representing parties from across the aviation industry, says that governments across Asia could be getting a slice of that by kick-starting development of a new source of energy for flights. In July, the global standards ...

LONDON (Reuters):  Oil prices slipped towards $105 on Friday as some London traders cashed in on a sharp move up in Brent at the close of the U.S. session and as negative sentiment around UK banks returned, reminding investors of the worrying global economic outlook. Brent crude futures were down 57 cents to $105.16 a ...

This may sound too religious! Yet the objective is to show the attitude and the direction needed in our words and deeds today in terms aligning ourselves to national economic development. The essence of the statement is that thoughts manifest as words and words manifest as deeds and so on. The onus is on ensuring ...

I like to be an optimist. No matter what may happen around us, I would like to retain feelings of hope I have for all human-kind and on a more intimate level for you, for me, the newborn and the to-be-born. Yet, what has already happened around me, happening now and may happen in the ...

Reuters: Anyone hoping that recent falls in commodity prices would provide a boost to powerhouse Asian economies and help lift the developed world out of recessionary danger will be disappointed. The region’s focus remains firmly on inflation. Commodities from crude to corn have slid in the last quarter, with many showing the most dramatic losses ...

NEW DELHI (Reuters): Maruti Suzuki, India’s top car maker, said a month-long strike at one of its plants that cost the company about $135 million in lost output ended on Saturday, after workers agreed to sign discipline agreements. Maruti, 54.2 per cent owned by Japan’s Suzuki Motor , also said its vehicle sales in September ...

LONDON(Reuters): World stock markets will recover next year from a nightmarish 2011 that has wiped trillions of dollars off share prices, according to a Reuters poll that showed almost all major stock indexes ending 2011 in the red. Darkening economic prospects and fears the euro zone debt crisis will unravel into financial catastrophe sent global ...

Reuters: The International Air Transport Association (IATA) said on Tuesday that the outlook for the global economy is very uncertain, but it does not expect a recession. “There is so much uncertainty over the world economy, obviously in Europe and United States,” said IATA Director

Financial stability risks have risen sharply in recent months, as slower economic growth, market turbulence in Europe, and the credit downgrade of the United States have weighed on the global financial system, according to new analysis by the IMF. Financial markets have begun to question the ability of policymakers to command broad political support for ...

With the World Bank announcing that the world economy is teetering on “a new danger zone,” it is of paramount importance for governments and financial power-houses to restore confidence through concrete policies and systematic financial planning. This is the order of the day

The Suzuki Maruti Alto and Alto K10 set a new average fuel consumption record of 27.8 Km/L at the Suzuki Maruti Economy Rally 2011 held on 11 September 2011 at AMW Suzuki Maruti show room premises.   The Rally, organised by AMW and conducted by the Ceylon Motor Sports Club (CMSC) –

Reuters: Demand for new airplanes from China and Asia will provide Airbus with a buffer for growth in the event of a global recession resulting from Europe’s debt crisis, the company’s chief operating office said last week. “So far we have 1,000 net orders (from Europe) at the end of August and the air traffic ...

New Delhi, (IANS) India’s annual inflation rate for August inched closer towards double digits, fuelling speculation that the central bank may hike key rates again for the 12th time since January last year amid fears over slackening industrial output.  The headline inflation, based on the wholesale price index, rose to 9.78 percent in August as ...

Since 1948, we have been planning for economic prosperity, but six decades have gone by without a semblance of anything to claim as our own. India has superseded all Asian countries and has reached a pinnacle of an economic power and it has even more potential to be a super power. It would be of ...

The Asian Development Bank (ADB) has cut its 2011 and 2012 growth forecasts for developing Asia amid ongoing worries about weak external demand from its key trading partners. In its Asian Development Outlook Update 2011, released yesterday, ADB trimmed its full year forecast to 7.5% from 7.8% seen in April. The 2012 projection is also ...

Solar, wind, wave, geo thermal, bio massNorochcholai – underperforming, Kerawalapitiya – under maintenance, power utility – threatens strike, Sampur at Trincomalee – coal power agreement signed with NTPC of India, lack of rain in hydropower catchments… the travails of Sri Lanka’s power sector are always in the news. The policy on energy has been driven ...

Nearly two decades ago, Jeep invented the premium sport-utility vehicle (SUV) segment with the introduction of the Jeep Grand Cherokee. More than four million sales later, Jeep improves the formula and delivers the ultimate combination of Jeep 4×4 capability and on-road refinement with the all-new 2011 Jeep Grand Cherokee.  Jeep Grand Cherokee delivers premium on-road ...

Fifty years after the E-Type redefined desirability, a successor has arrived. Jaguar has revealed its most important new model for a generation – a stunning two-seat Porsche Cayman rival that blends the brand’s foundations of beauty and performance with cutting-edge hybrid technology. It’s called the C-X16, as it’s the 16th project design director Ian Callum ...

‘Remember your humanity’ is a phrase that was made famous by the Russel Einstein manifesto issued on 9 July 1955. This document is considered as the final major document that Albert Einstein signed before his death in 1955 and is quite a famous statement. The whole idea of issuing this statement has been to indicate ...

Reuters: Toyota Motor Corp unveiled a new Camry sedan for Japan on Monday, offering it only as a gasoline-electric model to jump-start sluggish sales of the model in its hybrid-friendly home market. The Camry has been the best-selling car in the United States for the last nine years, but Japan accounts for just 1 percent ...

The International Air Transport Association (IATA) last week announced traffic results for July which showed that passenger travel was up 5.9% over July 2010. Freight markets were stagnating with a 0.4% demand decline over previous year levels. “Passenger travel bucked the gloomy economic outlook with a 5.9% increase in July. This increase was likely based ...

By Devin Jayasundera A top Finance Ministry official last week declared that the country’s import sector has bright opportunities on to the future in tandem with fast growing economy and per capita income of the people. Delivering the keynote address at the Ceylon Chamber Import Section

Reuters) – Asian stocks rose on Monday morning, after the recent sell-off, while the dollar struggled after U.S. Federal Reserve Chairman Ben Bernanke left the door open for further action to stimulate the economy and fight high unemployment. Gains in equities were also supported by firmer