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Singapore, Hong Kong and Sydney have the strongest brand perception among major cities across Asia-Pacific, according to a new study by Ogilvy Public Relations and PublicAffairsAsia. Those cities were followed in descending order by Tokyo, Melbourne, Shanghai, Seoul, Osaka, Bangkok, Beijing, Kuala Lumpur, Ho Chi Minh, Mumbai, Delhi, Jakarta and Manila. A total of 300 ...
It was well past the graveyard shift, but I had to get to Minister Mervyn Silva. Evil-doers had cast a fiendish spell and he had just promulgated his impending suicide. His has been a monumental crusade for the oppressed, goats including. I raced towards Kelaniya. Just then the phone rang. His young son Malaka had, ...
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
Reuters: Germany’s Constitutional Court gave a green light on Wednesday for the country to ratify the euro zone’s new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund. The eagerly awaited verdict boosted global stocks and the euro currency as investors ...
On Friday (7) afternoon, the eve of provincial council elections in three provinces, a certain gathering took place at 101, Rosmead Place, which houses the corporate offices of Democratic National Alliance (DNA) National List Parliamentarian, Tiran Alles. Consultations that lasted for hours, took place between Alles and UNP Deputy Leader Sajith Premadasa and a few ...
Reflecting his bullishness on post-war rebound in tourism, former Delmege Chairman Ricky Mendis yesterday bought an 8% stake in Serendib Hotels Plc for around Rs. 142 million from Royal Ceramics Plc and its high net worth investor Managing Director Nimal Perera. In total 6.7 million shares of Serendib Hotels transacted via 312 trades for Rs. ...
It is unfortunate that today many impressions of Sri Lanka in foreign countries are based on unverified facts, and wrong or deliberately manipulated disinformation, carried out by those who once supported the forces of terror. These same elements continue to sow the seeds of division and separatism through various media, and also influence politicians in ...
The first Prime Minister of independent India, Pandit Jawaharlal Nehru, wrote 75 years ago: “It would be absurd to say that the profit motive does not appeal to the average Indian, but it is nevertheless true that there is no such admiration for it in India as there is in the west. The possessor of ...
Around 1,000 delegates in town for Commonwealth Parliamentary Conference and connected activities this week The entire Common-wealth is literally here as Sri Lanka plays host to the grouping’s annual gathering of Parliamentarians – this week, giving the country an excellent opportunity to be assessed firsthand as well as lift its profile globally. The 58th Annual ...
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 ...
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 ...
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 ...
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 ...
According to figures collected by PATA, international visitor arrivals into Asia Pacific destinations during May 2012 show a collective gain of 3% year-on-year. This is the second consecutive month with a declining growth rate. For the first five months of 2012, the average growth in international visitor arrivals into Asia Pacific destinations was 6% up ...
Reuters: China’s top state newspaper warned the visiting US Secretary of State Hillary Clinton on Wednesday not to seek advantage from tensions in the South China Sea, ahead of talks likely to focus territorial disputes and other sources of discord. Beijing and Washington have both stressed hopes for steady ties, especially as they confront domestic ...
By Devin Jayasundera Former Securities Exchange Commission (SEC) Chief Tilak Karunaratne yesterday 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 project ...
Government agencies are among the most complex organisations in nearly every country in the world. They often are large, have multiple objectives, and face increasing demands to deliver more services at a lower cost. As a result of this complexity, a government is faced with many organisational issues, including: redesigning their organisations and their interaction ...
All Sri Lankan universities except for the medical faculties have been closed down, but for most citizens, who have observed crisis after crisis in the education sector, this latest development is nothing new. The big difference is currently it is the university teachers who are on strike, not the students. The teachers’ main demands are: ...
Transparency International Sri Lanka (TISL) yesterday called upon the government to take necessary actions to resolve the present situation at the Securities and Exchange Commission (SEC) in a manner that will not negatively impact on market confidence.
NAIROBI (Reuters): Kenya’s horticulture export earnings are expected to grow by 10%this year thanks to above-normal rainfall, but the eurozone’s financial woes were expected to dampen demand for flowers, a senior industry official said on Monday. Horticulture is one of the east African country’s leading sources of foreign exchange alongside tea exports and tourism. The ...
Last week I met up with some key business people from Indonesia, which does heavy trading with China on the basis of subcontracted business, and is now attempting to diversify its business due to the volatility of the Chinese economy. This made me conduct some research on the Chinese economy. The findings highlighted the need ...
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 ...
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 ...
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 ...
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 ...
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...