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Part 3: Inalienable power is in the people, exercised in trust by the organs – the legislature, executive and judiciary – and prohibits transfer of power from one organ to anotherIn the public interest to create awareness of the issues involved, the FT will continue to publish extracts adapted from the Petition filed by public ...
- Nihal Sri files application before SC to re-examine Expropriation Bill (Category: Business)
- Breakthrough in Nihal’s FR application on ‘Expropriation Bill’ (Category: Business)
- Nihal Sri takes on ‘Expropriation Bill’ (Category: Business)
EFC says if the Govt. is serious about fund returns to employees, it should be exempted; urges holistic look at pension funds and calls for better governance By Uditha Jayasinghe As opposition political parties ready to do battle over the proposed amendments to the Employees Provident Fund (EPF) that will be presented in Parliament today, ...
- Main opposition of Sri Lanka calls on the government to contribute monies to proposed private se... (Category: Breaking News)
- PB: Will Amend EPF And ETF Acts (Category: Breaking News)
- CTU Organizes Protest Against Pvt. Sector Pension Scheme (Category: Breaking News)
- EPF by the people for the people (Category: Business)
Part 2 – UN Universal Declaration of Human Rights? Judiciary entrusted with task of keeping every organ of the State within the law? In the public interest to create awareness of the issues involved, the Daily FT will continue to publish extracts from the petition filed by public
- Nihal Sri files application before SC to re-examine Expropriation Bill (Category: Business)
- Nihal’s FR Application on the Expropriation Law (Category: Business)
By Devin Jayasundera Kelani Cables PLC, the foremost name in Sri Lanka’s wiredrawing industry, last week conducted a programme titled ‘Knowledge Forum’ with the intention of enhancing the knowledge of the professionals in the industry. Over 200 engineers working in customer companies of Kelani Cables attended this event. “The primary objective of this forum is ...
- Kelani Cables export first consignment to Australia (Category: Business)
- Kelani Armoured Cables obtains SLS 1186 certification (Category: Business)
- Kelani Cables felicitates their distributors and sales force (Category: Business)
How the key industry progressed last yearBy Cheranka Mendis Sri Lanka’s tourism industry, which saw a 30.8% growth over the previous year in 2011, has been driven by key markets India, UK and Germany and is likely to be the foremost contributor in 2012 as well. Named as ‘Visit Sri Lanka year,’ 2011 saw the ...
- Tourist arrivals in Feb. up 27% (Category: Business)
- Tourism triumph! - Ends 2011 with record 855,975 arrivals (Category: Business)
- Treasures of Sri Lanka, the ethical way (Category: Business)
- Warm welcome for record-breaking 800,000th tourist arrival in 2011 (Category: Business)
LTTE rump groups and pro-LTTE organisations are trying hard to achieve their separatist ideology in the countryDefence Secretary Gotabaya Rajapaksa on Tuesday said that there is a possibility of the re-emergence of the LTTE in Sri Lanka, as LTTE sympathisers abroad are still struggling to achieve the LTTE’s separatist ideology in the country. He made ...
- Sri Lanka is still under threat, warns Defence Secy. – Part I (Category: Business)
- Security is still critical in peaceful Sri Lanka – Gota (Category: Business)
- Country must utilise opportunity afforded by peace: Defence Secy (Category: Business)
Central Bank Governor Nivard Cabraal has been increasingly under attack by UNP MP Dr. Harsha de Silva over some of the policies, actions and comments of the professional-turned-politician-turned-Chief of the monetary regulatory authority. Cabraal’s ambitious and robust Roadmap for 2012 and beyond too had come under critique as being overconfident. However, this is unlikely to ...
- CB says no need for FX intervention (Category: Business)
- Can and will sustain rupee defence: CB Chief (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
If time already taken wasn’t long enough then the Securities and Exchange Commission don’t agree, and hence opted to meet again on Monday to take a final decision on relaxation of rules on broker credit. Issuing a one paragraph statement the SEC said “At the 294th Commission Meeting of the Securities and Exchange Com-mission of ...
- Broker Leveraging (Category: Business)
- Credit Rules (Category: Business)
- Credit Play (Category: Business)
UNP MP and Consultant Economist Dr. Harsha de Silva yesterday opined that the Daily FT reported pullout of Aitken Spence Plc from the Colombo port’s new terminal project as a direct fallout of the contentious Expropriation Act. He alleged that the move was a “retaliatory act”
- New construction association takes aim at Anti-Black racism in the industry (Category: Canada)
- Aitken Spence unveils country’s first green printing facility (Category: Business)
- Aitken Spence Hotels observe Earth Hour 2012 (Category: Business)
- Rs. 630 m windfall for Aitken Spence from port venture exit (Category: Business)
The Daily FT’s exclusive expose of Aitken Spence Plc’s pullout from Sri Lanka’s biggest ever FDI project – the upcoming US$ 500 million Colombo South Container Terminal sent shock waves in corporate, shipping, political and diplomatic circles yesterday whilst investors found
- Rs. 630 m windfall for Aitken Spence from port venture exit (Category: Business)
- Harry triggers Takeover Code on Aitken Spence (Category: Business)
- Melstacorp completes Spence acquisition (Category: Business)
- Others secure, Harry misses in scramble for Spence shares (Category: Business)
Respected blue chip Aitken Spence pulls out of biggest FDI project – the $ 500 m Colombo South Container Terminal due to issues with funding and cost escalations Construction cost up 30% to $ 350 m; overall project cost now estimated at $ 595 m up from $ 475 m at bid proposal stage Lender ...
- Deal signed to build Colombo Port Expansion project’s South Container Terminal (Category: Business)
- BOI signs US$ 500 m agreement for Colombo South Container Terminal (Category: Business)
- WORK ON SOUTH CONTAINER TERMINAL OF COLOMBO PORT LAUNCHED (Category: Breaking News)
- AGREEMENT INKED FOR US$500 M AGREEMENT FOR CBO SOUTH CONTAINER TERMINAL (Category: Breaking News)
Ends 2011 with record 855,975 arrivalsBy Cheranka Mendis The high-flying tourism industry closed the year with a record 855,975 arrivals, marking a rise of 100,000 from the original target for the year. Statistics revealed by the Sri Lanka Tourism Development Authority (SLTDA) yesterday noted that the figure reflects a 30.8% increase from the previous year. ...
- Sri Lanka opens up for a 4 million domestic tourism industry (Category: Business)
- Sri Lanka draws 60,989 tourists in 16 days (Category: Business)
- SL welcomes 800,000th tourist (Category: Breaking News)
Expects 2012 to continue 2011 success despite anticipating slow year By Cheranka Mendis Kia Motors is geared to embrace a phenomenal year in 2012, riding high on the extraordinary success of 2011. Launching the final model that was to be introduced to the local market in 2011, the all new fourth generation Kia Rio, Kia ...
- KIA Motors to invest Rs. 1 b on service facilities (Category: Business)
- KIA To Drive Royal Rugby As Sole Team Sponsor Of 1st XV (Category: Breaking News)
- Ceylon Chamber identifies opportunities in Brazil during FIFA 2014 and Olympics 2016 (Category: Business)
As exclusively reported by the Daily FT yesterday, top professional and senior Board member Dinesh Weerakkody was appointed as the new Chairman of Commercial Bank. At 47 years old, he is also the youngest to be appointed as Chairman of Commercial Bank, the largest private sector bank
- Dinesh Weerakkody appointed Chairman of Commercial Bank (Category: Breaking News)
- Dinesh Weerakkody, new Chairman of the Commercial Bank (Category: Breaking News)
- Dinesh Weerakkody is new chairman of Commercial Bank (Category: Breaking News)
- Dinesh new Deputy Chairman of Commercial Bank (Category: Business)
Dinesh tipped to be appointed Chairman; Dheerasinghe as Deputy; business leader Preethi new face on the Board Commercial Bank is slated to have a special Board meeting today, the second in three days, to elect a new Chairman. The move follows the resignation of longstanding Chairman and Board member Mahendra Amarasuriya, as exclusively reported by ...
- Former CB Deputy Governor appointed to COMBank Board (Category: Business)
- Eraj steps down, Dharma new Chairman at Bartleet Finance (Category: Business)
- Mahendra resigns as COMBank Chairman; Captains’ buy in (Category: Business)
- Dinesh Weerakkody, new Chairman of the Commercial Bank (Category: Breaking News)
Unhappy after questionable downgrade Hayleys fires letter; legal action next? Rating agency Fitch is under fire for some of its judgments and the latest to join the chorus is Hayleys Plc. Seemingly disturbed by the downgrade from AA- to A+ with a negative outlook by Fitch, Hayleys has fired a letter expressing its reservations, ...
- Fitch Ratings has withdrawn Hayleys PLC’s ‘A+(lka)’ National Long-Term rating (Category: Breaking News)
- Hayleys, Fitch part ways (Category: Business)
- Fitch Downgrades Hayleys PLC to ‘A+(lka)’/Outlook Negative (Category: Breaking News)
- RAM says stable but Fitch downgrades Hayleys (Category: Business)
The Pathfinder Foundation issued the following response to the IFC opinion piece on its Economic Alert No. 20 titled ‘Improving Sri Lanka’s Business Climate,’ published in the Daily FT: The Pathfinder Foun-dation (PF) is grateful to the International Finance Corporation (IFC
- Easy Biz (Category: Business)
- Business Skills (Category: Business)
- IFC, NTB help small businesses become more competitive (Category: Business)
to the article above in yesterday’s Daily FT by the Pathfinder Foundation – in which there a...
- Pathfinder responds to IFC (Category: Business)
- Easy Biz (Category: Business)
- Improving Sri Lanka’s business climate (Category: Business)
By Cheranka Mendis Dismissing claims that the merger of Dialog and Suntel has created the second largest fixed line provider, the rightful owner of the title Lanka Bell is now on the go to rectify the wrongful claims. Lanka Bell Managing Director Prasad Samarasinghe told the Daily FT yesterday
- TRCSL download test shows Lanka Bell WiMAX to be fastest (Category: Business)
- Lanka Bell introduces exciting broadband packages (Category: Business)
- SLT deploys FTTX technology to boost broadband (Category: Business)
- Vallibel One dials Suntel (Category: Business)
The right to privacy is our right to keep a domain around us, which includes all those things that are part of us, such as our body, home, thoughts, feelings, secrets and identity. The right to privacy gives us the ability to choose which parts in this domain can be accessed by others, and to ...
- Right to information: Transformation from a secretive society to transparency (Category: Business)
- Govt waits for clearance to implement India-funded Unique ID card project (Category: Breaking News)
- Lanka @ 63: The ‘Military business model’ of post-war economic development (Category: Breaking News)
By Dinali Goonewardene The private sector yesterday welcomed the relaxation of rules for foreign investment in debentures and overseas borrowings by Sri Lankan firms. The Central Bank yesterday announced it was relaxing regulations for foreign investment in corporate debentures of Sri Lankan firms and foreign borrowings by local firms. In the case of corporate debentures ...
- Sri Lanka Central Bank relaxes regulations on foreign investment (Category: Breaking News)
- Sri Lanka relaxes restrictions on foreign investments in corporate debts and foreign borrowings ... (Category: Breaking News)
- NDB Group conducts successful investor forum in Singapore (Category: Business)
- Can and will sustain rupee defence: CB Chief (Category: Business)
Daily FT Editor Nisthar Cassim was among 40 top individuals apart from 60 institutions from private and public sectors picked last night for Global Commerce Excellence by the Shippers Academy Colombo, with support from the Central Bank, Export Development Board, Sri Lanka Ports Authority
- Dr. Nicholas to share key insights on global economy (Category: Business)
- Empowerment (Category: Business)
- Stock market crashes to lowest level in 2011 (Category: Breaking News)
- No FT during Avurudhu (Category: Business)
Following is a response from Hotel Developers (Lanka) Limited to the article titled ‘Cornel Perera rebuts Basil’ published in the Daily FT of 24 November 2011 We give below a fair summary of the background of establishment of Hilton Hotel Colombo given by the well-respected Attorney
- Indian Casino Mogul Makes A Play For Hilton Colombo (Category: Breaking News)
- A 5-star loss! (Category: Business)
- Cornel Perera says Hilton takeover not the solution, selling via bourse is (Category: Business)
By Cheranka Mendis Sunquick Sri Lanka, the much loved super concentrated fruit quash will today bring home the prestigious Co-Ro Best country award also known as the Global Sunquick best awards. The award is an annual presentation by the brand owners of Sunquick, Co-Ro Food A/S, a Danish Company awarded for the country that marks ...
- Scan Products wins Sunquick Best country award (Category: Business)
- Sunquick mocktail competition a huge success (Category: Business)
- Lankan consumers are shifting from commodities to branded products (Category: Business)
- Scan Products sales force recognised (Category: Business)
By Marianne David Triumph International Lanka unveiled a revolutionary innovation in shapewear with the launch of its all-new ‘Shape Sensation’ collection last evening at its Majestic City Triumph Store. The company’s General Manager Shalindra Fernando presented the first set of the ‘Shape Sensation’ series to former Miss Sri Lanka for Miss Universe Aruni Rajapaksha a...
- Triumph enlarges retail network (Category: Business)
- Triumph rewards dealers with gold! (Category: Business)
- Triumph opens exclusive store at Kandy (Category: Business)
- Triumph inspires up and coming designers through Dragons and Butterflies (Category: Business)
With the world’s largest and most prestigious professional body for marketing, the Chartered Institute of Marketing (CIM) celebrating its centenary this year, CIM Chairman Chris Lenton spent a couple of days in Sri Lanka to be part of the celebrations in the country earlier this week and to speak to the marketing community here to ...
- Plugging into marketing trends of the future (Category: Business)
- Driving marketing in the boardroom (Category: Business)
- Fortune 100’s ‘hired gun’ set to awaken the Sri Lankan marketing community (Category: Business)
- Driving marketing in the boardroom (Category: Business)
By Cheranka Mendis Sri Lanka got its fair share of Formula 1 racing yesterday as duty free operator Autogrill Lanka Ltd unveiled the Vodafone McLaren Mercedes F1 racing car used by former World Champions Lewis Hamilton and Jensen Button at the Bandaranaike International Airport. F1 car first, next Grand Prix? Airport and Aviation Services Chairman ...
- F1 car first, next Grand Prix? (Category: Business)
- F1 launch time and optimism is in the air (Category: Business)
- Caterham first out with ‘ugly’ new F1 car (Category: Business)
- India can be one of the great F1 venues (Category: Business)
Mahinda urges brokers to venture overseas, market post-warSri Lanka among foreigners; reach out and educate rural investors Cautions against pump and dump, thereby avoid sharp pricefluctuations endangering innocent investors Brokers say ASI dropping 2,000 points, PE down to 13 times from 26 create conducive environment for relaxed rules President Mahinda Rajapaksa stresses a point duri...
- Mahinda magic! (Category: Business)
- No show by SEC Santa this X’mas! (Category: Business)
- Dr. PB to meet stock brokers today; says right balance key for regulation (Category: Business)
- Message clear: Market must move up (Category: Business)
No unanimity on exchange rate movement A front page headline news item in this paper on last Saturday had reported on an apparent division of opinion between the two top policy makers of the country, namely the Treasury Secretary Dr. P.B. Jayasundera and the Central Bank Governor Ajith Nivard Cabraal, on the depreciation of the ...
- Rupee sinks to record low (Category: Business)
- CB to stop supplying dollars for oil bills (Category: Business)
- Appreciating the exchange rate to create prosperity (Category: Business)
- Devaluation divide (Category: Business)
With 3Cs in place what more does private sector want from President Rajapaksa, asks Treasury Secretary Dr. P.B. Jayasundera at Daily FT-Colombo Uni. MBA Alumni Association post-Budget seminar Urges business leaders to make best use of Budget 2012 aided by peaceful and sound macroeconomic
- Flocking for experts views on Budget 2012 (Category: Business)
- President consults entrepreneurs on Budget 2013 (Category: Business)
- Brainstorming Budget 2012 (Category: Business)
- TAX SYSTEM SIMPLIFIED FROM NEXT YEAR – FINANCE SECRETARY (Category: Breaking News)
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