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Countries have achieved sustained growth and development by adopting a range of approaches. Successful outcomes have come from policies varying from state capitalism to those based on market-driven private sector-oriented models. A high premium needs to be attached to the pursuit of pragmatic policies that are appropriate for country-specific conditions at a given point in ...
In biggest-ever industry deal, Asian insurance giant AIA enters Sri Lanka with $ 109 m investment to buy 92.3% stake in Aviva NDB Insurance Says timing is perfect as post-war rebounding Sri Lanka offers high growth opportunity; AIA’s first acquisition in two years after rigorous assessment Enters into 20-year bancassurance deal with NDB Marking the ...
Asian Development Bank (ADB) Vice President Xiaoyu Zhao has declared that Sri Lanka has big potential than any other country in Asia to become the most viable and attractive regional economic hub. “Strategic location, post conflict infrastructure development initiatives, peace and stability, high economic growth and able leadership are the main factors behind these potential,” ...
The Consulate General of Sri Lanka Dubai M.M. Abdul Raheem visited Hamriyah Free Zone Authority this week and met with Director General Dr. Rashid Alleem to strengthen bilateral business association and investment promotion between the two countries. During his meeting Raheem highlighted the investment potential and business environment for Sri Lankan business community. Sri Lanka ...
East London recently received a boost as five ICT firms announced plans to expand their operations in Tech City, Europe’s fastest-growing digital hub. Milton Keynes, Sheffield and Ulster will also benefit from multi-million pound international business deals announced at the Global Business Summit on ICT, organised by UK Trade & Investment (UKTI) during the Olympic ...
Reuters: Chinese university teacher Zhu Haibin wept softly as she and other Communist Party cadres stood in rows before a mass grave of Communist fighters in southern China. Ignoring light drizzle, the group listened to a party instructor tell the story of Zhang Longxiu, a “hero mother” from the early days of China’s Communist revolution ...
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison
Globe Mirror Industries (GMI), the first tempering plant to be established in Sri Lanka in 1969 has been awarded ISO 9001:2008 certification, a clear indication of its growth and credibility in terms of maintaining a high standard of quality throughout the years. GMI was started by late Mohammed Nawaz and has since grown to be ...
A number of articles which appeared in print media in the recent past signify the volatility in the economy. High volatility leads to vulnerability. Volatility and vulnerability are reflections of the haphazard nature of the economic policies and poor economic governance in a country
Khaleej Times: Sri Lankan efforts to increase its export of skilled workers to the UAE were the topic of discussion in a gathering of diplomatic officials at an overseas employment promotion seminar held on 13 September. At the event, officials addressed local recruiters and employers on the procedures and benefits associated with hiring workers from ...
“Genuine software, ultimately, is about optimisation rather than legalisation. Especially now that Sri Lanka is moving quickly, the economy will pick up even faster through partnerships with China, India and other developing countries. It’s the perfect time for companies
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
The Asian Development Bank (ADB) is concentrating on developing nine sectors including infrastructure in Sri Lanka and the far eastern region including Vietnam, Cambodia and Laos to foster economic development. “Asian Development Bank has assisted sub regional economic cooperation in the Greater Mekong Sub region (GMS) to enhance their economic relations, covering nine priority ...
The exchange of goods and services has been around for as long as civilisations themselves, if not longer. Humans, being extremely adaptive to their environments, have always found ways to utilise resources and build surplus. This surplus was then used to trade in order to obtain resources and goods that weren’t abundantly available. Evolution of ...
The festival of creativity – Spikes Asia 2012 in Singapore during its first two days showcased key insights on winning and creative ideas in the marketing communications sphere by a host of global and regional experts. Attended by nearly 1,800 creative industry professionals and students from 27 countries including nearly 20 from Sri Lanka, the ...
It is with great sacrifices that Sri Lanka brought about a victory against ruthless terrorism, which is certainly a feather in the cap of Rajapaksa family. No one can dispute the fact that President Rajapaksa provided the political leadership and ensured that the LTTE was decimated at any cost. The Tamil diaspora and the pro-separatist ...
“Broadband will represent a momentous economic and social change,” said President’s Secretary Lalith Weeratunga. Weeratunga said so while participating at the inauguration of a two-day ‘Regional Expert Consultation on Connecting Asia Pacific’s Digital Society for Building Resilience’ held in Colombo recently. Organised by the United Nations Economic and Social C...
Tightening brakes on growth, Government data released yesterday showed the country has slowed to a two-and-a-half-year low, slipping from 7.9% in the first quarter to 6.4 % in the second when compared with the same period last year. A Reuters report noted that economic growth eased to 6.4 per cent in the second quarter ...
US Assistant Secretary of State Robert O. Blake yesterday called on the Government to promote transparency and good governance in order to encourage more American investors. He told reporters at the end of his visit that investment could be encouraged if the Government took measures to improve the investment clime. A speech given by him ...
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
UNP MP Karu Jayasuriya yesterday said that the results of the elections for three Provincial Councils last week confirm that a large number of people do not approve the Government and the path it has taken with many burning issues unresolved. Following is the full text of the statement issued by Jayasuriya: The Provincial Council ...
Abans recently contributed Laptops to the Knowledge Hub initiative in Sri Lanka, a program spearheaded by Lalith Weeratunga – Secretary to the President of Sri Lanka. Mahinda Chintana – Vision for the Future envisages transforming Sri Lanka into a strategically important economic centre. Part of this vision entails the developing of five strategic knowledge ...
Commercial Bank of Ceylon has launched a programme in collaboration with the Central Bank of Sri Lanka to enhance entrepreneurship skills in the Small and Medium Scale Enterprise (SME) sector. The first seminar of this programme was held recently for entrepreneurs who are in the SME and Micro Enterprise sectors in Nuwara Eliya. Officials of ...
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 ...
“In order to create long term economic stability, the creation of incremental wealth is imperative,” stated former Hatton National Bank Managing Director and CEO Rienzie Wijetilleke addressing the a luncheon meeting organised by the Sri Lanka – Italy Business Council of The Ceylon Chamber of Commerce. It was also noted at the meeting that whilst ...
One of the largest healthcare systems providers in Sweden, Cambio Healthcare Systems has set up a research and development centre in Sri Lanka and is now poised to expand further with the vision of being the leading healthcare systems provider in the Nordic regions. “Cambio Healthcare Systems is currently one of the largest e-Health providers ...
The Tokyo Stock Exchange (TSE), which is the third largest equity/stock market in the world with a total market capitalisation of US$ 3.3 trillion, has expressed interest to have Sri Lankan listed corporates on the Colombo Stock Exchange (CSE) to be listed on the TSE as Japanese Depository Receipts (JDRs), stated Ambassador of Sri Lanka ...
The third edition of Richlist, the book about the richest and most successful business people in Sri Lanka, has been launched after a hiatus of four years. The book contains short descriptions of each of the people and companies in the book. Important world and Sri Lanka economic data are interspersed throughout the book. The ...