SEC to set strategic plan to curb manipulation Target of doubling foreign stake in market to 30% Past efforts to curb price-manipulation were stymied REUTERS: Sri Lanka’s once-buoyant, now-ailing stock market needs integrity and greater participation by foreigners to grow well, the new director-general of the country’s exchange regulator said. Hareendra Dissabandara, who has a ...

The frequent flyer programs of Scandinavian Airlines (SAS) and airBaltic as well as the South American loyalty coalition network Multiplus, have become the latest partners for Worldhotels. Members of the three programs are now able to collect points at almost 500 Worldhotels properties worldwide on qualifying rates. They can also benefit from various bonus miles ...

News Butterfly, the unique TV programme from the US’ FOX news network, is now filming in Colombo for an exclusive segment on Sri Lanka’s new upswing. News Butterfly Market Place (NBMP) is described as a ‘unique women’s movement on TV’. According to NBMP, ‘the programme is a TV Channel venture for beautiful and talented women ...

The 26th CA Students’ National Conference organised by the Practicing Accountants Chartered Students’ Society (PACSS), the student body of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), will be held on 4 April at the Hotel Galadari – Grand Ballroom. This year’s conference will focus on the theme ‘Dream… Focus… Excel…’ which...

Top achievers walk away with a spate of overseas tours and fabulous cash prizes Janashakthi Insurance, a leading insurer in Sri Lanka, rewarded more than 200 top sales performers in a glittering and spectacular Awards Ceremony with overseas tours to USA, UK, China, Dubai, Bangkok and India, overseas training, air tickets, cash prizes, trophies and ...

Calling out to all SharePoint developers and enthusiasts in Sri Lanka, the Colombo Code Camp Community organised the Colombo SharePoint Camp held earlier this week featuring world-renowned SharePoint guru Bjørn Furuknap who shared his vast experience and knowledge with the small yet flourishing community here in Sri Lanka.  Furuknap has been a Senior Solution Architect ...

NDB‘s contribution to infrastructure development has been substantial during the last three decades. Having garnered the experience and expertise to cater towards the development process in Sri Lanka, NDB continues to focus on this vital component providing the necessary support that will help towards economic development in the country. NDB CEO Russell de Mel says, ...

BENTOTA Beach Hotel has been hosting foreign weddings since 2002 and is now poised to celebrate 10 wonderful years of celebrating matrimony. ‘David and Eleanor’ were the lucky 600th couple to choose Bentota Beach Hotel as their venue to celebrate the beginning of their married life together. The wedding celebration took place in the garden ...

In an effort to become a truly eco friendly resort, Cinnamon Lodge Habarana sowed its own paddy and set off on a journey of farming under organic principles four months ago. Accordingly the first ever harvest was reaped a few days back. The hotel together with guests celebrated this event with the true spirit of ...

Continuous foreign buying in to select listed companies saw the year to date net inflow top the Rs. 20 billion mark by yesterday. The Colombo stock market began a fresh week with year to date net inflowing being at Rs. 17.7 billion and a further Rs. 2.5 billion was added bringing the total to Rs. ...

Outlines OZO Colombo plans to provide a 4-star product at a 3-star priceQ: As a veteran and experienced hotelier as well as a prominent personality in the tourism sector, what are your thoughts on the hotel industry in Sri Lanka and what needs to be done? A: These are exciting times with great opportunities for ...

A fundraiser charity concert, in aid of the Children’s Cancer ward, is scheduled to take place on 18 March, at the British School Auditorium. The guest performer at this concert is Sri Lankan born Paediatrician Dr. Feizal Zavahir, now domiciled in the US, along with one of Colombo’s most popular bands, Flame. The audience will ...

By Cheranka Mendis With a membership of 107 top entrepreneurs of the country – among which close to 200 leading organisations is managed providing employment close to 250,000 people – the Chamber of Young Lankan Entrepreneurs (COYLE) is a unique and highly valuable organisation to the country. Taking the mantle of the Chamber from K.H. ...

Reuters: Britain’s Betfair Group Plc took 50 million pounds ($79.4 million) of bets on the marathon Australian Open tennis final between Novak Djokovic and Rafael Nadel, highlighting the growing popularity of in-play gaming on major sporting events. Horse racing was also a driver of growth, with races such as Kauto Star’s victory in the King ...

Sri Lanka Tourism Chairman Dr. Nalaka Godahewa addressed the members of The Council for Business with Britain (CBB) of the Ceylon Chamber of Commerce recently. He highlighted the vision of President Mahinda Rajapaksa for the tourism industry, the world’s largest service industry. The presentation was titled ‘Towards 2.5 million visitors by 2016 – Where are ...

Reuters: “A Separation” won the Oscar for best foreign language film on Sunday, becoming the first Iranian movie to win the honor. Written and directed by Asghar Farhadi, the domestic drama focuses on a couple going through a divorce and touches on traditions, justice, and male-female relationships in modern Iran. “A Separation” was regarded as ...

Reuters: Hollywood showed some love for its history at the Oscars on Sunday, giving its best film award and four others to silent movie “The Artist” in a ceremony that recalled why cinema is special to so many people. The Academy of Motion Picture Arts and Sciences also gave Oscars to Meryl Streep playing former ...

In the latest UNWTO report, it is stated that tourism has become one of the world’s largest foreign exchange earners with the industry catapulting to US$ 900 billion and visitor numbers crossing 980 million visitors globally.The growth has been ignited with the launch of e-commerce where a holiday can be booked and paid for from ...

GR Visions Singapore is proud to present ‘Harmony,’ an exhilarating concert of dance and music featuring lead artiste Sharmila Gunasingham, accomplished exponent of classical Indian Odissi dance, and Guy Manoukian, the award winning Lebanese Armenian musician. Sharmila will be partnered by Ramli Ibrahim, her Guru and the world’s leading male Odissi exponent.  Accompanying th...

Maalu Maalu Resort & Spa is proud to have hosted its first wedding on 18 February 2012 at the pristine Pasikudah beach, in the East Coast of Sri Lanka making it the first foreign wedding to be held in this region after the end of three decades of war.   These Russian nationals, Olga Yurievna Gorbacheva ...

By Dr. Laksiri Fernando Sri Lanka’s independence on 4 February 1948 was never a final act, but a major landmark in a process of evolution from colonialism to independence and underdevelopment to development. It is truly a process of internal emancipation. It is the 63rd anniversary of this landmark or the 64th Independence Day that ...

The Daily FT spoke to the Immediate Past President of Sri Lanka Association of Inbound Tour Operators (SLAITO) and Chairman and Managing Director of Conniassance de Ceylan Ltd., on the state of post-war Sri Lanka tourism industry, the progress and key challenges as well as future prospects and how best they could be harnessed. Here ...

Stock market plunges further; Rs. 69 b in value wiped off One year loss of value is a staggering Rs. 766 b EPF and foreign buying saves Bourse after near 5% crash Rupee dips to all-time low of Rs. 120; likely to settle down though triggering panic in import trade Crisis could be an understatement ...

Blue chip conglomerate Aitken Spence PLC has reported its interim results to the Colombo Stock Exchange on Monday, showing Rs. 3.02 billion as pre-tax profit and Rs. 1.95 billion as profit attributable to shareholders for the nine months ended 31 December 2011; an increase of 24% and 20% respectively over the previous year. For the ...

By Jyoti Malhotra Business Standard (New Delhi): India’s promise to sell two Offshore Patrol Vessels (OPVs) to Sri Lanka, during their first-ever defence dialogue in New Delhi last week, as well as the recent agreement to build an electricity transmission line from Madurai to Trincomalee and connect the electricity grids of the two countries, is ...

Following are some responses from three economists to the guest column by Chandra Jayaratne titled ‘Important issues’ for Sri Lankan legislators, the Executive, policymakers, Central Bankers, economists and thought leaders to ponder over published on 2 February 1) I disagree with the Stiglitz-Krugman line. My diagnosis is that Europe is in this mess for two ...

Reuters: Japan’s ailing electronics giant, Sony Corp (6758.T), warned investors on Thursday it was heading for a worse-than-expected $2.9 billion annual loss, revealing the daunting task ahead for its incoming chief executive, Kazuo Hirai. The company, overtaken by more innovative rivals such as Apple and Samsung over the past decade, gave the forecast in its ...

Some important issues for Sri Lankan legislators, the Executive, policymakers, Central Bankers, economists and thought leaders to ponder over: Stiglitz believes that the austerity plans in the EU nations, especially by the debt ridden poorer nations of the group is akin to a collective suicide pact and is an act madness promoted and enforced by ...

Preliminary results released by the Pacific Asia Travel Association (PATA) show a collective increase of 6% year-on-year for international arrivals into Asia/Pacific1 destinations during each of the months of October and November 2011. For the first 11 months of the year, South Asia was the star growth performer, followed by Southeast Asia, Northeast Asia and ...

Are the Indian Army’s golf courses illegal?                 Sri Lanka’s fourth golf course opened by Air Force   India’s national auditor, the Comptroller and Auditor General (CAG), has reported to Parliament that the country’s Army has turned large tracts of State military property into illegal privately-run ...