Reuters: Iran, facing sanctions that could cripple its oil exports, has told world powers it wants to resume long-stalled talks with “new initiatives”, and France said it might be open to addressing suspicions about its nuclear programme. Tehran made the offer in a letter to the EU’s foreign policy chief obtained by Reuters on Thursday, ...

Sri Lanka’s benchmark stock index, the world’s worst performer this year, may extend its slump as the central bank raises interest rates to curb inflation, according to HSBC Holdings Plc’s private banking unit. HSBC Private Bank, which oversees about $499 billion, will wait for stock valuations to fall to “single digit” multiples before it considers ...

“It is unlikely that in making his overstatement on development that the President was seeking to downplay the achievements of the past by his illustrious predecessors in the governance of the country. In the 1950s there was the Gal Oya development scheme that opened up the vast territories of thick jungle land in the east ...

Reuters: President Nicolas Sarkozy used a primetime television interview on Sunday to flesh out a flurry of measures to boost employment and competitiveness which he hopes to rush through France’s parliament before a presidential election in April. Sarkozy, who is running far behind Socialist challenger Francois Hollande in opinion polls for the election, said he ...

Reuters: India cut cash reserve requirements for banks by 50 basis points on Tuesday to ease tight liquidity conditions, signalling a shift in policy towards reviving growth after two years of fighting inflation. With core inflation still stubbornly high, the Reserve Bank of India as expected left its policy repo rate unchanged at 8.50 percent ...

Looking back at 2011, DFCC Vardhana Bank (DVB), the everyday banking unit of DFCC Bank had a productive year in terms of profitability, asset growth, with a number of milestones being achieved, awards won and expansion in the bank’s products and services. The entirety of the bank’s activities focused on one goal: financial inclusion, which ...

By Dinali Goonewardene Prathilaba was telecast on Rupavahini on Sundays at 10 a.m. The TV documentary, a studio discussion on investing in the stock market was commissioned by the Securities and Exchange Commission and panellists from the stock market industry participated. These included stock brokers, research analysts, fund managers and officials from the Colombo Stock ...

In 2011, leading Sri Lankan conglomerate CIC Holdings found itself at a crossroads: although the company had become synonymous with chemicals and paints, its dynamic growth was increasingly driven by its agricultural businesses, creating a disconnect in the minds of consumers. The brand was in urgent need of more than just a fresh coat of ...

By Ian The President in his speech at the opening of the Southern Expressway said that this could be the beginning of building a modern society. He also mentioned that had there been such an expressway linking the north with the south the extremists would not have succeeded in capitalising on the mistrust among communities. ...

Having launched Sri Lanka’s first-ever equity investments and financial information portal, Sri Lanka Equity Analytics (www.srilankaequity.com) recently celebrated its successive second year of operations by reaching the milestone of 5,000 registered online memberships and over five million hits. Sri Lanka Equity Analytics is a financial portal designed to address varying needs of the invest...

Arrenga Capital Research takes a deeper look at Budget 2012 and impact on select listed companies 1. A challenging deficit target – 6.2% of GDP in 2012 I. Government revenue targeted to grow by 20.2% YoY to Rs. 1,126.1 b (14.7% of GDP) II. Total Government expenditure to rise 14.1% YoY to Rs. 1,594.9 b ...

A reader of the previous week’s My View on ‘Playing the Share Market Game: Play it according to Rules’ has taken issue with economists for not using mathematics to present their ideas precisely and failing to come up with theories acceptable to everyone alike. As a result of this second implication, he has claimed that ...

The courage the Government has demonstrated in cancelling the CATIC deal and yet feeling secure, rather than embarrassed by it, must be recognised. It is a responsible step, a prudent decision, which will have enduring benefit both in terms of national policy and FDI strategy. This step will also earn the respect of the indigenous ...

Deutsche Bank yesterday announced that it has successfully implemented a new integration solution for Dialog Axiata PLC, Sri Lanka’s largest mobile network provider, which enables seamless, secure and direct connectivity between the client and the Bank via the SAP NetWeaver Process Integration (“SAP NetWeaver PI”) technology. In addition to a flexible user interface, the BankR...

‘There is reason for fearing that men and women will be taught that dishonesty, if it can become splendid, will cease to be abominable’- Anthony Trollope in his Autobigraphy (1883) The famous English Novelist, Anthony Trollope wrote the above words after he was disgusted by what he perceived as a decline of ethical values in British public life ...

Reuters: The man tasked with running the new Libya reminded his forces that the war was not yet over as the latest deadline for the surrender of pro Muammar Gaddafi towns loomed and fighters massed on both sides. Earlier on Thursday, the voice of the on-the-run former leader boomed out from his hiding place, denying ...

Bullish on post-war revival in tourism and to cater to growing demand for its hospitality Renuka City Hotels Plc, is investing Rs. 200 million to add 20 more rooms, bringing the total to 100 inclusive of the adjoining Hotel Renuka. Chairman Ravi Thambiayah told the Daily FT that the company was waiting for approvals to ...

Power Scan (Pvt) Ltd started its operations in 2003. Throughout the years the company’s product offering and related services has expanded to Data Center Design Building and Total IT infrastructure solutions creating a name for itself in the IT industry in Sri Lanka. The company has tied up with world reputed brands like Emerson/Liebert for ...

Reuters: England piled more misery on India with a thrilling six-wicket victory in a one-off Twenty20 match at Old Trafford on Wednesday. After losing the test series 4-0, India started brightly in the shortest version of the game and racked up 165 all out, only to see England reach their target with three balls to ...

The Economist Intelligence Unit: Asia's consumers are demanding and difficult to please. But they are getting richer, and they might help to save the world from a protracted recession, as well as bring about a long-overdue economic rebalancing. For Western multinationals, Asian consumer markets offer exciting growth opportunities. Despite the challenges of reaching Asian consumers ...

By Ranjit Jayasundera Sensational evidence has come to light that demonstrates beyond a shadow of doubt that in Sri Lanka fortune favours not necessarily the bold but certainly the favoured. Carlton Sports Network (CSN) a company incorporated on 10th February 2011 has won the rights to broadcast the Australian Cricket tour of Sri Lanka next ...

Banks’ Profits Up 111% The banking industry achieved a considerably high level of profits in 2010. Profit after tax amounted to Rs. 57.5 billion last year, a 111% growth in comparison to a Rs. 27.2 billion profit in 2009. The significant growth in profitability was mainly attributed to a higher increase in fee-based income, a ...

Dynasties have to start somewhere. For an aspiring Gandhi in India, or a Bhutto in Pakistan, exploiting the family name to get into politics is relatively simple. Getting a dynasty going in the first place is more testing. Sri Lanka’s President since 2005, Mahinda Rajapaksa, is evidently giving the matter some thought. His government is ...

DYNASTIES have to start somewhere. For an aspiring Gandhi in India , or a Bhutto in Pakistan , exploiting the family name to get into politics is relatively simple. Getting a dynasty going in the first place is more testing....

by Darini Rajasingham Senanayake On 4 February, Sri Lanka celebrated its 63rd birthday. After nearly three decades of armed conflict, it is now one of Southasia’s calmest and fastest-growing countries. Its social indicators, apart from the northeast zone, remain the...

Lasantha’s Killers Still Walk Free By Frederica Jansz A year ago, a high profile investigation into the murder of Lasantha Wickrematunge and the attacks on Editors Upali Tennekoon, Keith Noyahr and Namal Perera got underway as senior sleuths attached to the Criminal Investigations Department (CID) and the Terrorist Investigations Department (TID) sifted through a smattering ...

The Central Bank is to take a series of new steps to educate the masses on the importance of maintaining a high standard of cleanliness in the use of currency notes and coin circulation. The Central Bank implements its ‘clean note policy’ under the monetary law for this purpose. Superintendent of Currency of the Central ...

By Malathi De Alwis On 18 May 2009, Sri Lanka officially declared the end of a 30-year civil war fought between. Sri Lankan government forces (GoSL) and Tamil militants, namely the Liberation Tigers of Tamil Elam (LTTE). Such a sea...

by Dr.Dayan Jayatilleka “The contest is never over, the field never quite ours.”- Dave Robicheaux in James Lee Burke, ‘The Tin Roof Blowdown’ (2007) Is it only me, or is not sad that there is no review in the Sri Lankan public space, of the first decade of the 21st century and the new millennium? Should we not be looking back at the road that has been travelled by the world, by our co...

By Dr.Harsha de Silva Mr. Speaker, I am glad that important Ministers and Members from the Government side have come to listen to this speech. I must first state that I am happy to have been able to join the...