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The Singer Group’s recently released results showed that it continued its growth momentum with 2012 first half revenue up 23% to Rs. 12.6 billion and net profit by 21% to Rs. 680 million over the corresponding period of last year. The Group’s results in the first half were impressive considering that they were achieved despite ...
The country has entered into an era that was not witnessed for past 25 years. Growth rates of the economy cannot even be compared during this period as the ground situation in micro terms have changed drastically that was never before during a quarter of a century. The volatility and events
Some countries make progress outside U.N. process Progress is slow towards new climate deal Shift needed from targets, penalties to standards CO2 emissions continue to grow LONDON/OSLO: Green economic growth rather than strict targets for cutting greenhouse gases needs higher priority if the world is to reach a deal to fight climate change by a ...
Reuters: Indian Finance Minister P. Chidambaram sought on Monday to allay investor worries about an economy growing at its weakest pace in almost a decade by pledging to address their concerns over taxes, public finances and interest rates. In his first comments since becoming finance minister
RAM Ratings has called for right policy measures to diversify the country’s energy sources as well as increase private sector participation in the sector. This and several other key recommendations along with salient developments are highlighted in RAM’s energy sector update titled ‘Sri Lanka Power Sector – Firing the Rain’. The report said, drawing parallels ...
Can one imagine how long it took a ship to arrive from London to Colombo five centuries back? Now it takes only a couple days to courier a special package to any part of the world and a full file of any amount of documents could be sent to any part of the world in ...
Heavy challenges faced by currency depreciation and increase in fuel, energy and other costs Nestlé Lanka PLC, Sri Lanka’s leading nutrition, health and wellness company has recorded a good revenue growth of 13.5% (YoY) for the six months ending 30 June 2012, posting a revenue of Rs. 14.5 billion against the background of a difficult ...
The 2012 Suzuki Swift Sport first appeared at the Australian Motor Show in concept form back in July 2011. Fast forward 12 months and the hatch fans can now buy the production version in Colombo. The road going version of the Swift Sport has changed little since the concept appeared. While it looks a little ...
Weak rupee, price hikes, drought driving inflation-analysts CB expects easing in inflation on Govt. price cuts Reuters: Sri Lanka’s annual inflation rate may have accelerated to a 42-month high in July as a drought pushed up local food prices and a weaker rupee aggravated import bills. Annual inflation is expected to have accelerated to 9.4%in ...
Diesel & Motor Engineering PLC (DIMO) together with TATA Motors India recently introduced the latest range of TATA Small Commercial Vehicles (SCV) to Sri Lankan market. The SCV range comprises of the DIMO Batti (promoted in India as Tata Ace Zip), TATA Super ACE (earlier known as DIMO Lokka ) and DIMO 207 DI BULLET. ...
Emirates’ five daily flights to London Heathrow will all be served by A380s by 1st February next year, firmly establishing the airline as the principal double decker operator into the British capital. Combined with the daily Manchester A380 service, this will mean the world’s largest A380 carrier will be sending 42 A380 flights to the ...
UNP MP Dr. Harsha De Silva yesterday called upon the Government to take urgent steps to reverse the decline in apparel exports. He said that the Central Bank had announced that apparel exports fell every month this year in spite of the depreciation of the currency in February. Monthly exports amounting to US$ 367 million ...
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 ...
LONDON (Reuters): Britain’s economy shrank far more than expected in the second quarter, battered by everything from an extra public holiday to government spending cuts and the neighbouring euro zone crisis. Finance minister George Osborne said figures released on Wednesday showed Britain
By Amantha Perera IPS: For many Sri Lankans, the effects of climate change can be summed up in one word: rainfall. “The biggest impact (of climate change) is rainfall or the lack of it,” W.L. Sumathipala, one of Sri Lanka’s foremost experts in changing climate patterns, told IPS on a scorching hot and humid day ...
Reuters: The United Nations’ carbon offset market has a long future in helping the world curb man-made greenhouse gas emissions, even with carbon prices at record lows, the executive chairman of the UN Clean Development Mechanism (CDM) said last week. UN-backed carbon credits, called certified emissions reductions (CERs), have plunged around 70 per cent over ...
Reuters: India’s lawmakers voted for a new president on Thursday, ending weeks of wrangling and opening a much-hyped political window billed as the best chance for Prime Minister Manmohan Singh to launch a wave of reforms and reverse an economic slowdown. India’s markets are anticipating quick action to relax investment rules and cut subsidies once ...
Industry experts urge disillusioned local investors to ‘buy when it’s down and sell when it’s up’ In a highly volatile atmosphere and with low investor confidence in the Colombo Bourse, experts earlier this week went against the negative sentiments and instead stated that now is the time to buy. These views were aired at a ...
Global Foreign Direct Investment (FDI) inflows rose 16 per cent in 2011, surpassing the 2005-2007 pre-crisis level for the first time, despite the continuing effects of the global financial and economic crisis and the current debt crisis in Europe, UNCTAD’s annual survey of investment trends reports. The World Investment Report 20121, subtitled ‘Towards a New ...
LONDON (Reuters): Oil retreated slightly on Wednesday, snapping five days of gains as U.S. Federal Reserve Chairman Ben Bernanke offered few signs of further monetary stimulus and a gloomy view of the economy of the world’s top oil consumer. Brent crude slipped 38 cents to $103.62
Four examples; two bad and two goodThe website of the London Economist newspaper has a reference to an official of a certain country referring to a journalist in words similar to what follows – I have substituted words which would be appropriate to an officer and a gentleman addressing a lady, for what was actually ...
Introducing energy management systems to establishments will be coordinated through Energy Managers appointed at establishment level in accordance with the provisions given in Sri Lanka Sustainable Energy Authority Act. Minister of Power and Energy Champika Ranawaka said yesterday that a gazette notification (No. 1715/12) was issued on 20th July 2011, and it prescribes the qualifications ...
A SWISS-based company has emerged to negotiate a disputed payment deal the UAE-based Fujairah Petroleum Company had signed with the Ceylon Petroleum Corporation (CPC) to supply up to 160,000 tons of low sulphur oil. The blatant lack of transparency of this deal has raised new questions over the governance of CPC and why repeated transgressions ...
Boeing, Airbus report $35 b total firm orders Production issues in focus at quiet air show FARNBOROUGH, England (Reuters): The world’s dominant aircraft makers, Airbus and Boeing, left a rain-swept Farnborough Airshow without the order deluge some had predicted, but each claiming victories as they prepare to focus on delivering a huge jet backlog from ...
Opposition MPs warn post-war gains will be wasted unless Govt. puts house in order Insist on better policies, respect for law and order Call for common agenda for clear and consistent regulations By Uditha Jayasinghe Opposition politicians joined the private sector yesterday in calling for the Government to work on law and order and consistent ...
Maintaining that the Government was on the right course, Treasury Secretary Dr. P.B. Jayasundera yesterday urged the private sector to adapt as well as tap unprecedented growth potential, harnessing supportive policies and other measures. Delivering the keynote at the first plenary session of the Ceylon Chamber of Commerce Sri Lanka Economic Summit, Dr. Jayasundera in ...
Following is the full text of Secretary to Ministry of Finance and Planning and Ministry of Economic Development Dr. P.B. Jayasundera’s keynote address titled ‘Sri Lankan Economy in Perspective’ at first plenary session of the Ceylon Chamber of Commerce Sri Lanka Economic Summit
By Shanuka Tissera The LAUGFS group held an awareness presentation at their head office yesterday in a bid to encourage and educate individuals on the benefits of an auto gas conversion. The life of an engine will be prolonged, you will help protect the environment, but the answer your wallet is listening for is that ...
LONDON (Reuters): A voluntary tax on tourists who visit the luxury resorts and white sands of the Maldives could raise up to $100 million a year towards the country’s aim to become carbon neutral by 2020, President Mohamed Waheed said. The Maldives is made up of 1,192 low-lying islands in the Indian Ocean. With average ...
Reuters: Asian shares slid on Monday after U.S. jobs data and cooling inflation in China exacerbated worries about flagging global economic growth, with investors not particularly hopeful that a European meeting later in the day would bring further progress for the region’s banks. The euro hit a two-year low of $1.2225 in early Monday Asian ...