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Reinforcing its supremacy John Keells Holdings Group bagged most of the major titles in an impressive haul of 12 in the fifth annual Sri Lanka Tourism Awards presented last week. JKH Group’s Cinnamon Lakeside won the best five star city hotel whilst its Cinnamon Lodge Habrana bagged the best five star resort award. Group entity ...
The Securities and Exchange Commission (SEC) is likely to get a new Commissioner following the Government's decision to make a change as opposed to the previous move. A Finance Ministry official confirmed there has been a change but didn’t give details. Previously Pricewaterhouse-Coopers Partner and former Ex-Officio Commissioner Sujeewa Mudalige was named among new appointees ...
Nihal Sri Ameresekere’s 11th book in a series of books, ‘Overseas corporate structures, which hide ‘real owners’ (published by AuthorHouse), documenting revelations in real case studies and dealing with subjects of corruption, fraud, economic crime, governance, and the rule of law, discloses in incisive detail strategies and facts, as to how real owners of assets ...
A number of measures to promote bilateral trade between Sri Lanka and Nordic countries will be adopted in the year ahead, revealed Majid Awn, President, Sri Lanka Nordic Business Council of the Ceylon Chamber of Commerce addressing the Annual General Meeting of the Sri Lanka – Nordic Business Council (SLNBC) held at the Ceylon Chamber ...
MS Technologies (Private) Limited was honoured with the Microsoft ‘Best Public Sector Partner of the Year’ award at the recently-held Microsoft Sri Lanka Partner Awards 2012. The event was held on 3 August 2012 at Waters Edge, and the award was received by Padman De Silva, CEO of the company. M S Technologies, which has been ...
The University of Southern Queensland (USQ) MBA programme offered by the Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has received a tremendous boost with a new specialisation incorporated for the benefit of the new intake which will commence in September 2012. With intake commencing from September, the USQ ...
CEO of Kantar Eric Salama is scheduled to meet with local business leaders, hosted by LMRB, a fully-owned subsidiary of the Kantar Group, on Tuesday 4 September 2012 at The Earl’s Court, Cinnamon Lakeside, Colombo. Kantar, WPP’s information, insight and consulting division Group UK, is engaged in providing insight and consultancy services around the world ...
SEC is not a mere watchdog After the recent Securities and Exchange Commission of Sri Lanka fiasco, the media and many analysts, calling it the ‘watchdog’ of the securities market, had expressed the wish that it should remain a mere watchdog. Some had even found fault with the former chairpersons of the SEC that they ...
Reuters: Indian Finance Minister Palaniappan Chidambaram urged officials on Tuesday not to hound the country’s taxpayers, despite the pressure the officials are under to meet the annual tax targets as the economy faces its deepest slump for nine years. “We are not going to be regarded as a hounding tax administration,” Chidambaram told reporters after ...
Reuters: Stocks rose 1.3 per cent on Thursday to hit a three-month high with retail traders buying speculative shares as the appointment of someone seen as market-friendly as head of the regulator boosted sentiment. Nalaka Godahewa took over as Chief of the Securities and Exchange Commission on Wednesday evening. The Colombo Stock Exchange̵...
Placed amidst of wave of opportunity, today Sri Lanka is poised for exponential growth and sustainable economic development. In this context of emerging national prosperity, exports irrefutably play a pivotal role in driving the much anticipated economic progress. Exports are the main foreign exchange earners for the country and present many prospects for growth and ...
Reuters: Citigroup Inc agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets, one of the largest settlements stemming from the global financial crisis. The agreement resolves claims that shareholders ended up with massive losses after the bank failed to take timely ...
Reuters: China’s economy is stabilising slowly as pro-growth government policies gain traction while real estate curbs have suppressed speculation, the head of the country’s top planning agency, the National Development and Reform Commission, said on Wednesday. Zhang told a meeting of the National People’s Congress (NPC), China’s top legislature, that China’s two-pron...
Human rights Human rights are on the top of agenda today. Nations accuse each other of violations of human rights of themselves and others. Rights are generally violated during conflicts and wars as the strength of the weapon supersedes peace over and stability and rule of law. There is no shortage of conflicts in most ...
Reuters: India’s latest Olympic hero is hoping that a Bollywood movie on her life isn’t just about the sweat, tears and grime. Mary Kom, five-time women’s boxing world champion, won a bronze medal at the London Games, and her exploits will now be captured on the big screen. “I hope they show some romance in ...
Part of the Kandurata Warriors team, Kithruwan Vithanage is a young and upcoming player in Sri Lanka’s domestic cricket league. Here are excerpts of an interview with the young star: Kithuruwan Vithanage Q: How do you feel about being chosen to participate in the Mahindra Sri Lanka Premier League? A: It’s an honour to ...
Robinson Crusoe is very much alive! He has been living alone in Australia’s Restoration Island for 20 years. Well, not quite alone. He has some company, a dog and a mannequin. The Aussie Government handed a third of the island to businessman David Glasheen who promised to build a fishing resort. But fate had other ...
United National Party (UNP) MP and economist Dr. Harsha de Silva yesterday lashed out at the new Securities and Exchange Commission (SEC) Chairman and Commissioner Priyantha Fernando, on grounds of conflict of interest.
Retailers-driven ‘small caps’ dominated the Colombo Bourse yesterday, whilst most blue chips and conservative investors were less active as the capital market prepared to adjust under a new regime at the SEC. Perhaps finding it difficult to comprehend whether the new appointments to the Securities and Exchange Commission (SEC) were good or bad, stock market ...
Dr. Nalaka Godahewa yesterday assumed duties as the new Chairman of the Securities and Exchange Commission (SEC). After a meeting with President and Finance Minister Mahinda Rajapaksa, Godahewa visited the SEC premises around 3:30 p.m., had a discussion with the Directors and thereafter spoke to the Secretariat staff. Prior to assuming duties, Godahewa attended a ...
Soon after the appointment of Dr. Nalaka Godahewa as the new Chairman at the Securities and Exchange Commission (SEC) yesterday, the funny tale in Sinhala doing the rounds in stock market circles was “Market Goda!” rhyming with the first four letters of his surname. Godahewa’s appointment has raised both praise and concern among different stakeholders ...
President Mahinda Rajapaksa left for Tehran yesterday to attend the 16th Summit of Heads of State or Governments of the Non-Aligned Movement (NAM). The President is scheduled to address the Non-Aligned Movement Summit on 30 August and hold several bilateral meetings with leaders of various countries on the sideline of the summit during the course ...
Sri Lankan Architect practicing in USA is in Sri Lanka to replicate his success in Panama here “Architecture is an art; a pragmatic art. It is a science, a sensuous science,” says Archt. Dr. Raj Barr-Kumar. Here in Sri Lanka to initiate three projects incorporating sustainability, latest technology and modern design, Barr joined the ...
UNP MP Dr. Harsha de Silva yesterday issued the following statement on the new appointments to the Securities and Exchange Commission (SEC): Is the Government’s message to go ahead and engage in fraud at the CSE without worrying about getting caught? If the Minister of Finance was genuinely concerned in re-establishing a fair and equitable ...
Dr. Saroshi Dubash, a Director of the Abans Group of companies, was unanimously elected as the new Chairperson of Women’s Chamber of Industry and Commerce (WCIC) at the Annual General Meeting held recently. She succeeds Vidyani Hettigoda who raised the WCIC to great heights during her tenure and was also the recipient of the honourable ...
Access Engineering Plc Chairman Sumal Perera has described the financial year ended on 31 March 2012 as a “watershed” for the Company. The Company a post-war listed entity, saw its revenue for FY12 enjoy a 100% and 98% growth over the previous year at Group and Company level to mark Rs. 7.3 billion and Rs. ...
OSAKA (Reuters) : Daikin Industries Ltd will buy Goodman Global Inc for $3.8 billion, gaining greater access to the North American market and making the Japanese company the world’s largest maker of heating, ventilation and air-conditioning (HVAC) systems. Daikin has long been interested in its Houston, Texas-based rival, but put off takeover talks following Japan’s ...
Fitch Ratings Lanka has assigned Singer (Sri Lanka) PLC’s (Singer) proposed three-year senior unsecured redeemable debentures of up to Rs. 1 billion a National Long-Term rating of ‘A(lka)’. The Outlook is Stable. The rating reflects Singer’s market position as one of Sri Lanka’s largest consumer durables retailers, as well as its established franchise and extensive .....
The British High Commissioner to Sri Lanka and Maldives John Rankin hosted a pre-departure briefing for the Chevening scholars for 2012/2013 at his residence on Tuesday, 28 August 2012. The Chevening Scholarship Scheme, funded by the Foreign and Commonwealth Office, is the UK’s most prestigious scholarship scheme for foreign post-graduate students. It aims to enable ...
The launching of the A.W. Institution of Training and Etiquette was held recently at the Galadari Hotel. The event was held on a grand scale, with a press conference followed by a cocktail with the presence of Deputy General Manager Mangala Randeniya of the Sri Lankan Foreign Employment Bureau, Anusha Withanage, Managing Director of A.W Institution of Training ...