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Power and Energy Minister Kanchana Wijesekera says Sri Lanka has enough petrol but the diesel stocks have been prioritised for electricity generation. Speaking in Parliament today, Wijesekera said that there is no shortage of petrol in the market. He said that more petrol had been dispatched to fuel sheds yesterday. However, he said that while […]
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The location of Sri Lanka has a strategic significance and this has been proven by the historical trading activities between Sri Lanka and ancient China, Egypt, and the Roman Empire. There is ample evidence to show that Sri Lanka was a main trading hub in Asia. The reasons for occupation of Sri Lanka by the ...
The worst drought in the US in at least five decades has resulted in the loss of one-sixth of the expected corn crop. The UD Department of Agriculture (USDA) has estimated that corn farmers have been compelled to abandon fields greater in area than Belgium and Luxembourg combined, following the hottest July ever recorded in ...
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 ...
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 ...
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 ...
Given one month extension pending reconstitution Adding to the confusion and controversies, the Board of Directors of the BOI is in limbo with subject Ministry Secretary Dr. P.B. Jayasundera giving it a month’s extension. The move follows the tenure of the members of the Board ending recently and until the latest extension indicated this week, ...
( April 29, 2012, Colombo, Sri Lanka Guardian) Sri Lanka has once again, like many times in recent years, sought the assistance of China to help avert a balance of payments crisis and also fund two key projects, official and political sources said. In a visit just before the Sinhala and Hindu New Year, that was kept under wraps, a team of officials led by Treasury Secretary Dr. P.B. Jayasundera we...
Sri Lanka has once again, like many times in recent years, sought the assistance of China to help avert a balance of payments crisis and also fund two key projects, official and political sources said. In a visit just before the Sinhala and Hindu New Year, that was kept under wraps, a team of officials led by Treasury Secretary Dr. P.B. Jayasundera went to China and secured assurances of a US$1....
Reuters: Indian Oil Corp is ready to help Sri Lanka cut its heavy dependence on Iranian crude imports, as tighter Western sanctions hit supplies from Tehran, IOC subsidiary Lanka IOC told Reuters on Thursday. A top Lanka official said it was ready to help in a $ 2-billion upgrade of Sri Lanka’s 50,000 barrels per ...
Fat burners do not burn fat, literally; aphrodisiacs are frustratingly passionless; tablets to prolong passion fall short of the desired duration; green tea is trying to slim fat bodies; memory enhancers inevitably cause dementia; Minoxidil and hair formulae keep heads balding; and beauty products create superficial, transient beauty. There are medications to elongate the phallus ...
Several days after its original announcement of suspension of flights during off-peak season, SriLankan Airlines retracted saying services to Rome, Milan and Moscow will continue uninterrupted. “SriLankan Airlines’ services to Rome, Milan and Moscow will remain uninterrupted as per the present schedule. The flight frequencies to these three destinations will also remain the same,”...
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
Loss-making State-owned enterprises are nothing new in Sri Lanka. One of the better known ones is SriLankan Airlines, which was given to Emirates due to its inability to breakeven but was retaken by the present Government. Pros and cons of this move is history but cash-strapped and a midst losses, it appears that the Government ...
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, ...
By Tisaranee Gunasekara “Nothing is closer to the law of the jungle than a system of distorted laws and procedures” Haaretz Editorial (2.1.2012) President Rajapaksa won the Eelam War, with the help of countless others (including the imprisoned Gen. Fonseka). In fairytales, the hero who saves a country from some deadly peril is rewarded with ...
A survey conducted last week on the health of the Sri Lankan economy revealed that almost 64% said that the Government had done its task but only 43% had said that there had been growth in the economy. Whilst some can say that this data is strange, a similar set of information was shared at ...
Reuters: New investors who have shown interest in Sri Lankan oil and gas exploration await the results of Cairn India’s drilling of a second well in the Mannar Basin before committing to anything, Sri Lanka’s Oil Minister said on Tuesday. Petroleum Industries Minister Susil Premajayantha confirmed that Russian gas export monopoly Gazprom, Malaysian State oil ...
In business the most difficult part is finding, servicing and retaining markets and market share. In exports, this is even more challenging. The ultimate in value addition is brand marketing. The optimum return in global business is achieved by the growth and development of brands. The national economy where the brand is owned has a ...
Eshana De Silva, the Chairman of the Esna Group of Companies and Shermans Logistics has been officially appointed as the Honorary Consul to Kazakhstan. De Silva is also a Director of Pan Asia Bank, Mc Marine and functions as a board member of the Board of Investment (BOI) and the Sri Lanka Ports Authority (SLPA). ...
Many moons ago, at the end of 2007 in fact, I did a piece for the now-defunct Montage magazine titled “And Then What?” seeking to deal with prospects for Sri Lankans after the Liberation Tigers of Tamil Eelam (LTTE) were done away with. Even though the prognostications were made about a year and a half ...
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 As Asia basks in the glow of the emergence of China and India and benefits from it (economists have even coined a term, ‘CHINDIA’, for this win-win strategic perspective), opinion makers and the media in Sri...
by Ranil Wickremesinghe By the 4th century BC, Asia had begun its first cycle of economic growth and power. This was the reason why Alexander the Great decided to travel eastward to establish an empire. At that time there was...
By Mandana Ismail Abeywickrema Sri Lanka’s decision to set up a 1,200MW nuclear power plant by 2025 is expected to be the single largest investment in the country. The nuclear power plant is aimed at generating cheap electricity to address the increasing demand while drawing large investments to boost the country’s economy. The Cabinet of ...
By K. Ratnayake Sri Lankan President Mahinda Rajapakse’s trip to New York and speech at the UN General Assembly last week had two main purposes: to cover up for war crimes committed during the country’s civil war and to appeal...
by Dr. Dayan Jayatilleka It is not that Sri Lanka’s foreign relations are not in need of repair, especially after five dismal years between Lakshman Kadirgamar and GL Pieris, but it is ironic in the extreme when the criticism comes...