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Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from the ...
Secretary, Ministry of Defence and Urban Development Gotabhaya Rajapaksa visited Poland at the invitation of Minister of National Defense Tomasz Siemoniak to attend the 20th International Defence Industry Exhibition (MPSO) held in Kielce from 3 to 6 September. The exhibition was inaugurated by President of Poland Boruslaw Komorowski on 3rd of September amidst a large ...
A youth delegation comprising of 24 children of Indian Army families accompanied by two academic staff visited Sri Lanka from 30 August to 5 September under the ‘Youth Exchange Program’ of Sri Lanka Army’s Viru Daru Society. The delegation was received at the Bandaranaike International Airport by Viru Daru Society Chairperson Deshani Jayasuriya and several ...
Reuters: President Barack Obama asked Americans on Thursday for patience in rebuilding the weak economy as he appealed for a new term in office and defiantly rejected Republican Mitt Romney’s proposals for growth as heartless. Accepting the presidential nomination at the Democratic National Convention, Obama gave a more down-to-earth follow-up to his 2008 “hope and ...
Reuters: Asian shares were on track for their biggest daily gain in six weeks on Friday after the European Central Bank outlined its plan to calm the euro zone’s debt crisis and firm US data fed speculation of a strong jobs report later in the day. European equities will likely extend gains modestly after rallying ...
ESPNCricinfo: Federation of International Cricketers Associations (FICA) has said it will deter players from taking part in the 2013 Sri Lanka Premier League (SLPL) unless tournament organisers honour the bank guarantees clause in player contracts. FICA CEO Tim May said his organisation had made repeated requests for proof of the bank guarantees, but SLC and ...
Marketing Director of Pan Audio Private Limited and Director of Pan Care Pvt. Limited, G. S. Sylvester has been selected as team leader for the Group Study Exchange, an international programme exchange for young professionals organized by The Rotary Foundation of Rotary International.
Securities and Exchange Commission of Sri Lanka (SEC) in its first-ever statement following the appointme4nt of Dr. Nalaka Godahewa emphasized that it had not initiated any new investigations as alleged.
The lull at the Colombo Stock Exchange has not deterred plans to market equity instruments in the provincial towns of the country, as Softlogic Stockbrokers andndash; one of the youngest market participants, have already embarked on opening offices in Negombo and Kurunegala whilst a branch in Matara is scheduled to be open shortly.
The Securities and Exchange Commission of Sri Lanka (SEC) in a statement said yesterday that it was concerned about certain daily and weekly newspaper articles which appeared recently, giving an impression that a number of companies are under investigation by the SEC. “The SEC wishes to categorically mention that there are no ongoing or pending ...
Professional Met Consu-ltancy Services (Pvt.) Ltd. has been awarded Sri Lanka National best Energy Services Company award for the second consecutive year 2012 at the Sri Lanka National Energy Efficiency award ceremony held on 19 August at Colombo Hilton Hotel. Professional Met Consultancy Services Chairman and Managing Director M.A. Justin receives the award from Environment ...
REUTERS: Tiger Woods finds himself in foreign territory heading into this week’s BMW Championship in Carmel, Indiana, having failed to qualify for the PGA Tour’s four lucrative playoff events last year. Twelve months ago, Woods had slipped to 46th in the world rankings after being sidelined for 12 weeks earlier in the season while recovering ...
By S.S. Selvanayagam The Supreme Court yesterday (6) ordered the Central Bank to file the Foreign Reserve Management Rules (Guidelines) to Court sequent to the Fundamental Rights violation petition challenging the investment on the controversial Greek bonds, which resulted in a loss of Rs. 2.14 billion of public funds to the State. The Deputy Solicitor ...
US Embassy Chargé d’ Affaires William Weinstein yesterday announced that the new Ambassador to Sri Lanka Michele Sison will participate in the US trade show scheduled to be held on 16 September. Sison has 30 years of experience in the US Foreign Service including postings as Ambassador to the UAE and Lebanon. She has also ...
The Colombo Stock Exchange (CSE) is turning to become a real market of producing a dip and a gain within a day, showing early signs of maturity though some remain sceptical overall. Having appreciated by nearly 11% in 12 market days, there was quick profit taking in early morning trading yesterday. This saw the ASI ...
George Steuart Finance Ltd. on Wednesday unveiled to the public the new corporate name and its future plans for growth. The company also announced the approval for listing on the Diri Savi Board of the Colombo Stock Exchange in the near future. Central Bank Governor Nivard Cabraal was the Chief Guest at the launch whilst ...
Newly-appointed Chairman of the Securities and Exchange Commission (SEC) Dr. Nalaka Godahewa will hold his first-ever meeting with Commissioners today. He assumed duties last Thursday.
SRI Lanka’s slide of 16 places in the Global Competitiveness Index will not come as a surprise to many, though it will act as a guide to pointing out the challenges still facing the economy. Last year when 10 places were gained, everyone was jubilant, with the Government and private sector voicing hopes that the ...
A goat’s best friend is Mervyn! The populace has been cruel to him. Ok, to the goat too, but I am talking about a man willing to be incarcerated just to liberate a hapless animal. Thankfully, the President interceded and saved the day for both. The Minister had promised to defy a Court order and ...
By Shanuka Tissera SREI Infrastructure Finance Ltd (India) announced their launch in Sri Lanka through a partnership with Arinma Holdings Pvt Ltd. SREI has helped over 30,000 entrepreneurs over its 23 years in operation offering a range of services in the infrastructure sector: Infrastructure project finance, advisory and development infrastructure equipment finance, venture capital and ...
By Cassandra Mascarenhas Offering an insightful view into international trade law and electronic transactions across borders, the second and final day of the regional expert consultation on connecting Asia-Pacific’s digital society for building resilience organised jointly by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the ICT Agency of ...
The Central Bank said yesterday the gross official reserves increased to $ 7,099 million by end July 2012 from US$ 6,045 million at end June 2012. This level of reserves is equivalent to 4.2 months of imports, it added. “The final tranche of the IMF-SBA facility as well as the proceeds of the fifth international ...
The Colombo stock market ended yesterday on a resilient note marking an over 10% rise in 12 days, though a degree of profit taking saw the liquid Milanka Index close marginally negative by eight points. The 0.84% or 45 points gain in All Share Index brought its 12-day increase to 10.8% apart from reducing the ...
A foreign fund had picked up Rs. 34 million worth of Sampath Bank shares on Tuesday, whilst the seller was Captains, who were busy collecting JKH. Sampath was a key contributor to Rs. 69 million net foreign inflow and 1.45% gain in ASI on Tuesday. Commercial Bank also saw Rs. 21 million worth of foreign ...
Nihal Sri Ameresekere’s 12th book in a series of books, Socio-Political Realities – (Hilton Hotel Fiasco and Ad Hominem Legislation) – Expropriation Law (published by AuthorHouse), documenting facts pertaining to real case studies, and dealing with subjects of corruption, fraud, economic crime, governance, and the rule of law, is in 2 parts; the first part, ...
By Devin Jayasundera Former Securities Exchange Commission (SEC) Chief Tilak Karunaratne on Tuesday rebuked allegations of over regulation and ad hoc measures as having impacted the stock market during his tenure and noted that the SEC Act should be strengthened further to punish manipulators. “What some of the crony brokers and dishonest investors try to ...
By Cheranka Mendis Sri Lanka’s very own dress designing manufacturer, Timex Garments, under its brand name Aviraté, has launched an aggressive expansion plan in both Sri Lankan and Indian markets. Two years since debuting the brand to the local market, the 100% Sri Lankan brand has grown exponentially over the years, having established itself in ...
A four-part Investor Education Workshop conducted by the Colombo Stock Exchange (CSE) – Kurunegala Branch is currently underway at the Branch premises. Participants from Kurunegala, Kandy, Kegalle and Anuradhapura districts attended the workshop. The workshop titled ‘Aayojanayata Danuma’ covers the themes Introduction to Investing, Understanding Financial Statements, Stock Select...
By Cassandra Mascarenhas Sri Lanka’s biggest ICT events of 2012, the ASOCIO international conference and the country’s national IT expo INFOTEL, will be held consecutively portraying the country’s persistent ICT development and the significance of the rapidly expanding industry. Hosted by the Federation of Information Technology Industry (FITIS), the Asian-Oceanian Computi...
The impact of the tourism boom enjoyed by the country after the end of the conflict had spread to the other sectors, resulting in a big increase in production and services. The internal conflict that prevailed in the country for 30 years ended in May 2009 and tourist arrivals increased in an unprecedented manner since ...