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(Reuters) – Sri Lanka’s stock market edged down on Wednesday to a one-week low, as cautious investors stayed on the sidelines over concerns over a proposed government act to acquire underperforming assets, including from two listed firms. After the market closed Sri Lanka’s parliament began to debate the proposed legislation to acquire underperforming enterprises and ...
- Stock market at two-week low; block deals boost activity (Category: Business)
- Bourse gains on bargain hunting; rupee steady (Category: Business)
- Stocks extend rally on banks, hotels (Category: Business)
- Rupee weaker on importer dollar demand (Category: Business)
Reuters: Sri Lanka’s stock market fell to a one-week low on Tuesday, with investor sentiment hit by a proposed government act to acquire underperforming assets, including from two listed firms. The main share index fell 1.3 percent, or 9.08 points, to 6,322.01. Sri Lanka’s Supreme Court has decided that proposed legislation to acquire underperforming enterprises ...
- ASI survives; volume slumps to two-year low (Category: Business)
- Stocks down on asset takeover bill (Category: Business)
- 2011 tea output slips from record high (Category: Business)
- Fitch rates People’s Leasing’s Rs. 1 b commercial paper at ‘F1’ (Category: Business)
COLOMBO (Reuters): Sri Lanka’s Supreme Court has ruled that the government’s controversial legislation to acquire so-called underperforming enterprises and under-utilised assets is consistent with the country’s constitution, parliament was told on Tuesday, despite some opposition. The government act, which was presented to parliament on Tuesday, will see the state acquiring 37 pr...
- Fitch joins chorus, says nationalisation law could hinder investment (Category: Business)
- CATIC’s Galle Face deal off! (Category: Business)
- Economist Intelligence Unit says Expropriation law raises investor concerns (Category: Business)
- UNP cheers CATIC cancellation (Category: Business)
Expolanka Holdings PLC said yesterday it has sustained its consolidated NPAT for the first half of FY 2011/12 at Rs. 668 m, with a consolidated NPBT at Rs. 862 m. These results have been achieved against the backdrop of the many challenges faced by the Group in the international trading sector with its global economic ...
- Expolanka Holdings posts Rs. 903 m profit for 9M of FY12 (Category: Business)
- Expolanka Holdings announces delisting and change of company name (Category: Breaking News)
- Global recognition for Expolanka’s social marketing at 20th World Brand Congress (Category: Business)
- Expolanka Holdings buys controlling stake in Norfolk Foods for Rs. 300 m (Category: Business)
Marque fund manager and investor Asanga Seneviratne structures deal; Galadari Brothers part sell stake as part of settlement of cases in UAEThe buying of a 16% stake in Galadari Hotel (Lanka) Plc by the Dubai Government for Rs. 1.18 billion yesterday is expected to throw open the city five star as an attractive investment in ...
- Debt To Be Converted To Equity (Category: Breaking News)
- The going is good, says Galadari GM (Category: Business)
- Galadari Hotels directors sets price for debt conversion (Category: Breaking News)
- Kandy Hotels in JV to build 100 room new hotel for Rs. 1.2 b (Category: Business)
HSBC announced its new alliance with Lanka IOC PLC, an overseas venture of the oil giant, Indian Oil Corporation Ltd., to offer the bank’s loyal credit card holders more benefits and convenience. The new agreement was signed on 19 October between HSBC Sri Lanka and Maldives Chief Executive Officer Nick A. Nicolaou and LIOC Managing ...
- HSBC to give away 10 million Reward points to cardholders (Category: Business)
- Lanka IOC limits pumping fuel for light vehicles (Category: Breaking News)
- Sri Lanka fuel pass rationing system at 50-pct of filling stations (Category: Breaking News)
- Lanka IOC suspends fuel supplies to 26 filling stations (Category: Breaking News)
Janaka Palapathwala has assumed duties as new Director/General Manager at Nation Lanka Equities (Pvt) Ltd, a subsidiary of Nation Lanka Finance PLC. Palapathwala who holds a MBA is an Associate member of the International Professional Finance Managers (London). He is an old boy of St. Anne’s College Kurunegala and Trinity College Kandy. He has ...
- Aviva NDB Finance Lanka in internal share re-organisation (Category: Business)
- Shares at one-week high, rupee steady (Category: Business)
- eChanneling offering ambulance services on “225” Sri Lanka short code (Category: Business)
- Intertek Lanka awarded Best Service Provider at the Presidential Export Award (Category: Breaking News)
The third edition of the of the Old Peterites Tag Rugby 7s will come alive on Sunday, 30 October at the Murrayfield of Peterite Rugby – St. Peter’s College grounds. The event is organised by the the 1995-2000 batch group of the Old Boys’ Union of St. Peter’s College, was first introduced to the calendar of the Old Boys’ ...
- Third Peterite Walk on 13 May (Category: Business)
- Peterite Walk 2012 on Sunday (Category: Business)
- The Peterite walk – 2012 (Category: Business)
- First contribution for SPC Chapel (Category: Business)
Corruption is a serious impediment to reducing poverty and achieving development goals, the head of the United Nations agency anti-crime agency said Monday, adding that this year’s uprisings in the Arab world highlighted the anger within societies at this scourge. Yury Fedotov, the Executive Director of the UN Office on Drugs and Crime (UNODC), said ...
- JVP reveals extensive details of corruption in Sri Lanka including Rajapaksas and Premadasa (Category: Breaking News)
- Revised ICC rules boost G20 efforts to curtail corruption (Category: Business)
- Big draw for new anti-corruption drive says JVP (Category: Business)
- Free legal advice on corruption issues (Category: Business)
Following the success of the World Spice Food Festival since 2005, Sri Lanka Tourism is once again staging the World Spice Food Festival 2011 with the aim of showcasing culinary expertise from around the world with added Sri Lankan flavour. The festival will be held from 28 October to 9 November in Colombo. This year’s ...
- Sri Lanka Launches Spice Festival (Category: Breaking News)
- Sri Lanka to hold World Spice Food Festival 2010 (Category: Breaking News)
- World Spice Food Festival in Colombo (Category: Breaking News)
- Sri Lanka boosts tourism via street spice food festival (Category: Breaking News)
Eden Resort and Spa, the five-star beach resort located on the Golden Mile of Beruwela, successfully hosted its 50th foreign wedding ceremony for the year 2011. This being the highest number of foreign weddings held at a hotel located in the area, the 50th foreign wedding ceremony was held in grand style on 15 September ...
- Eden Resort & Spa receives Certificate of Excellence 2012 by Trip Advisor (Category: Business)
- Bentota Beach Hotel host 600th wedding ceremony (Category: Business)
- Eden Resort and Spa creates signature cocktail for Sri Lanka Tourism (Category: Business)
Pakistan Pavilion at the International Buddhist Museum Kandy visited by manyIn response to the proposed plans for establishment of an International Buddhist Museum, the Government and people of Pakistan established the historic Pakistan Pavilion at the Sri Dalada International Museum of World Buddhism Kandy. The Pakistan Pavilion was opened by President Mahinda Rajapaksha in May ...
- Pakistan’s Buddhist art comes to Sri Lanka (Category: Business)
- Relics of Buddha brought from Gandhara region (Category: Breaking News)
- India to gift 16 foot high idol of Lord Buddha to Sri Lanka (Category: Breaking News)
- Thailand donates Buddha statues to proposed International Buddhist Museum (Category: Breaking News)
Text & Pic by : Ruzaik Farook The Past Prefects’ Association of Zahira College, Colombo will organize “Zahira Super 16 Soccer 7’s” for the seventh consecutive year on Saturday, 22nd October 2011 from 8.00 am onwards at Zahira College Grounds, Maradana, Colombo. This is an inter school invitation seven a side football tournament approved by ...
- 8th Zahira Super 16 Soccer 7’s kicks off next week (Category: Business)
- Hameed Al Husseine College wins Champion Cup (Category: Business)
- Zahira College marks 120 year anniversary with sixes soccer tournament (Category: Business)
- Past rugby players of Zahira College to honor war heroes (Category: Business)
Amidst crises in the region, Sri Lanka remains the star for both stock market and tourism sector performance in Asia. As reported in the Daily FT on Monday, the Colombo Stock Exchange remains Asia’s best performing frontier market with an over 2% year to date growth. This is in contrast to sharp plunges by other ...
- Tax Collaboration (Category: Business)
- Capital Crisis (Category: Business)
- Sri Lanka v India - live score (Category: Breaking News)
- Special Thing (Category: Business)
Sri Lanka’s flagship telecommunications service provider, Dialog Axiata, in collaboration with Starhub, a fully integrated operator in Singapore, now offers customized international connectivity solutions to customers. The partnership is focused on delivering the lowest cost connectivity solutions with strict service levels between Sri Lanka and Singapore using each other’s network....
- Dialog Axiata opens Enterprise Discovery Centre in Colombo (Category: Business)
- Commercial Bank of Ceylon and Dialog partner for managed services (Category: Business)
- Deutsche Bank rolls out new integration solution for Dialog Axiata (Category: Business)
- Dialog Enterprise Cloud receives first VMware Cloud verification status in Sri Lanka (Category: Breaking News)
By Engineer P.G. Joseph An official website about the life and vision of the late Dr. Ray Wijewardene, one of the most accomplished and innovative engineers and scientists produced by Sri Lanka, will be launched on 28 September and will be located at www.raywijewardene.net. In this article, one of several available on the website, a ...
- Inventor Ray dies (Category: Breaking News)
- LOLC’s commitment to renewable energy recognised (Category: Business)
- Dr. Ray Wijewardena passes away (Category: Breaking News)
- Understanding required system change (Category: Breaking News)
Dove, one of Unilever’s leading global brands, launched their superior new range of hair care recently at Salon Nayana, World Trade Center. The New Dove Damage Therapy Range, which is patented with fibre-actives and micro moisture serum technology repairs damage at the heart of hair while making hair six times stronger. The Dove brand is ...
- Unilever campaign makes every employee ‘Head of Sustainability’ (Category: Business)
- ‘Sunsilk Experts’ to unlock career opportunities for women entrepreneurs (Category: Business)
Dr. Anila Dias Bandaranaike is one of the reputed speakers scheduled to preside at the 32nd National Conference of Chartered Accountants to be held from 20 to 22 October 2011. The theme of the seminar is ‘Quest for Balance’ and the noted statistician will be speaking on ‘Our Country: Vanity, Sanity and Reality’. Her session ...
- Jana Aragalaya now ‘Frontline Socialist Party’ (Category: Breaking News)
- For tourism, after BRICs, Lanka-included SLIMMA is the best (Category: Business)
- Results of 2012 SAARC Film Awards (Category: Business)
- ‘The Artist’ Wins Producers Guild’s Best Picture Award (Category: Business)
The policy changes, reforms and modernisation since Budget 2011 appears to have been the context of a presentation made to the Joint Apparel Association Forum in July 2011 by the “leading light” in finance, planning, treasury management and economic development. Sri Lanka background 2000-’10 The presentation articulates the background issues experienced from 2000 to 2010. ...
- Achieving economic goals amidst global challenges (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
- For a change Geneva, Zurich to hear Sri Lanka’s post-war potential this week (Category: Business)
Last week I received an invite for an ‘Inventors Day Celebration’ in one of the leading schools in the country and the master in charge shared a thought that I felt was a cutting edge idea. Apparently, every one of us is an inventor in some part of our daily life. The issue is that ...
- Wimbledon 2012 pick-ups for Lanka (Category: Business)
- Global Commerce Excellence awards next week (Category: Business)
- For tourism, after BRICs, Lanka-included SLIMMA is the best (Category: Business)
Women in South AsiaFollowing is the address delivered by the High Commissioner of Pakistan Seema Ilahi Baloch at the South Asia Women in Media Forum: The women of South Asia must be proud, because our land can boast of some of the greatest women leaders of our times. Sirimavo Bandaranaike, Indira Gandhi, Benazir Bhutto, Husina ...
- More Women In Politics For Better Politics (Category: Breaking News)
- More Women In Politics For Better Politics (Category: Breaking News)
- More Women In Politics For Better Politics (Category: Breaking News)
- More Women In Politics For Better Politics (Category: Breaking News)
In what is likely to be major breakthrough to the litigation-filled long-drawn-out impasse at Hilton Colombo-owning company Hotel Developers Plc (HDL), a proposal for an amicable win-win settlement has been presented to the Treasury. Sources said that as per the proposals with four options studied by Treasury, major shareholder Cornel Perera (owning 56% but held ...
- Consultants 21 files civil litigation on revival of ailing Hotel Developers (Category: Business)
- Nihal files fresh motion in District Court of Colombo over Hotel Developers (Category: Business)
- Indian Casino Mogul Makes A Play For Hilton Colombo (Category: Breaking News)
The gem mining sub-sector grew by 7.9% in 2010. The gem and jewellery exports too reported 1.56% positive growth in 2010. Even in the first-half of 2011, increased earnings from mineral exports were led by higher exports of gems which increased by 35.5% in the first half of 2011, according to the Central Bank. The ...
- FACETS’ foreign sales top $ 10 M, world rediscovers Ceylon Blue Sapphire (Category: Business)
- Exports grow by 41% to $ 5.1 b in 1H, Govt. to sustain growth (Category: Business)
- Boost for gem and jewellery as top multinational arrives (Category: Business)
- Exporters’ Forum returns in full strength; exporters upbeat on prompt results (Category: Business)
Following an impressive 125-run victory inside four days at Galle, Australia can wrap up a series victory over Sri Lanka when the second Test starts in Kandy on Thursday. The visitors seized the upper hand on a surface described as a dustbowl, but the early indication is the Pallekele International Stadium pitch looks a more ...
- MCC says putting off Test Championship a setback (Category: Business)
- England host West Indies, Australia and South Africa next year (Category: Business)
- Ponting to miss second test against Sri Lanka (Category: Business)
- Australia not sacrificing T20 or one-day cricket for Tests: Clarke (Category: Business)
Colombo: Foreign Employment and Welfare Minister Dilan Perera says the country’s foreign employment agencies would be rated from next year. Perera has said the agencies will be graded into star classes based on their merits in providing services. The move is expected to help foreign employment seekers to select a job agency based on its ...
- Sri Lanka suspends deals with 609 foreign employment agencies (Category: Breaking News)
- Sri Lankan government to rate foreign employment agencies from next year (Category: Breaking News)
- Sri Lanka government to grade the foreign employment agencies (Category: Breaking News)
- Sri Lanka Foreign Employment Bureau grants licenses for 110 new employment agencies (Category: Breaking News)
The history of the Rockwood familyBy Sydney Knight William Sukumar Rockwood has authored this well-researched book on his family. Inside, one sees the photograph of a pastel portrait of Col. David Narasiah drawn by his wife Kalabooshana Sarasvati Rockwood in 1976 and Sukumar has quite rightly dedicated this book as a memorial to his ...
- Booklet recalls most damaging SC wildfire (Category: USA, South Carolina)
- Book Review: Gananath Obeyesekere – Stories And Histories (Category: Breaking News)
Exponential 575% rise in comparison to FY2010’s figure of Rs. 155 m; Posts Rs. 829 m net profit attributable to equity holders; Turnover more than doubles to Rs. 10.6 b FY2012 1Q revenue up 162% to Rs. 4.4 b; after tax profit up 257% to Rs. 368 m Assets worth Rs. 34.3 b, up from ...
- 2Q results add further value to Softlogic story: Ashok (Category: Business)
- Softlogic’s 9 month revenue, post-tax profit up, bottom line down (Category: Business)
- Distilleries toasts FY12 start with 1Q net profit up 50% to Rs. 1.2 b (Category: Business)
- RPC posts strong results for 9 months (Category: Business)
Qatar will invest $20 billion to $25 billion in tourism infrastructure development over the next 11 years as it prepares to host the 2022 soccer World Cup, the head of its state-run tourism authority said on Monday. Qatar’s copious natural gas reserves have turned it into an economic powerhouse and the world’s richest country per-capita, ...
- WTA honours global travel giants (Category: Business)
- Travel and tourism forecast to pass 100m jobs; $2 trillion GDP in 2012 (Category: Business)
- Sharp fall in Qatar economic growth forecast (Category: Business)
- Celebrating World Tourism Day by linking global cultures (Category: Business)
Reuters: A hotel in orbit, lunar sightseeing flights and luxury rides into the cosmos – all are part of Russia’s vision to ensure it is not left behind in the growing space tourism industry. Russian firms unveiled their plans at the country’s premiere air show this week at Zhukovsky, outside Moscow, saying the race was ...
- Capello vows to turn Russia’s fortunes around (Category: Business)
- Russia Davos party has unusual opposition flavour (Category: Business)
- Serena Williams storms to golden slam (Category: Business)
- Guide book on Sri Lanka in Russian language debuts (Category: Business)
After two decades, Hilton Colombo owning company Hotel Developers finally releases accounts Accumulated losses by end FY 2009/2010 top Rs. 10 billion Revaluation of hotel results in Rs. 4.7 b gain yet company beset with negative networth of Rs. 4.7 b as against Rs. 8.26 b in 2008/9 Total outstanding loans and borrowings near Rs ...
- Consultants 21 files civil litigation on revival of ailing Hotel Developers (Category: Business)
- End to HDL hangover hovering? (Category: Business)
- HDL saga: Hilton feasts as Govt. loses (Category: Business)
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