AAP: Sri Lankan captain Mahela Jayawardene claims Australia’s bowling attack is their weakness, and his batsmen will target them in Friday’s one-day international at the WACA Ground. With Brett Lee out injured and emerging stars Pat Cummins and James Pattinson still on the comeback trail, Jayawardene said Australia’s bowling attack could potentially be exposed if ...

Sydney Morning Herald: This summer’s tri-series will be played amid a backdrop of a pay dispute which sees Sri Lanka’s players owed as much as $US 5million ($4.71 million) due to a cash crisis within the country’s governing body. As Mahela Jayawardene’s team battle the world’s top two ODI sides on the field during this ...

Sri Lanka’s cricket chief on Friday defended the sacking of Australian coach Geoff Marsh and the selection of a new team captain, saying the changes would help usher in a new era of “cricketing excellence”. “We will reap the benefits of these changes in the fullness of time,” Sri Lanka Cricket president Upali Dharmadasa said ...

COLOMBO: Legendary Sri Lankan cricket captain Arjuna Ranatunga on Thursday slammed his country’s sacking of Australian coach Geoff Marsh as “disgraceful” and “unprofessional”. Marsh was this week replaced by South African Graham Ford. Former cricket captain Tillakaratne Dilshan (L) shakes hands with newly appointed national cricket team captain Mahela Jayawardene afte...

With debate on the future direction of audit and accounting gaining new momentum, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) in association with Baker Tilly Merali’s Chartered Accountants Sri Lanka will explore an influential topic in the financial world titled ‘The Future of Audit and Accounting’ at a symposium on 30 ...

Charith Senanayake new manager for Aussie tour COLOMBO (Reuters): Sri Lanka have sacked coach Geoff Marsh and appointed South African Graham Ford on a two-year contract, a Sri Lanka cricket official said on Thursday. “Ford has signed a two-year contract and his first assignment is to take the team to Australia for the Commonwealth Bank ...

The Members’ Benevolent Society of the Institute of Chartered Accountants of Sri Lanka has organised a seminar on taxation, scheduled to be held on Wednesday, 25 January from 8.30a.m. to 1p.m. at the Institute’s Auditorium, No. 30A, Malalasekera Mawatha, Colombo 7.    The seminar will discuss the recent amendments to tax legislation proposed by the ...

ESPNcricinfo: The winds of change blew over Colombo on Thursday with the appointment of a new selection committee for Sri Lankan cricket, but in hot, dry, still Kimberley, nothing had moved. Sri Lanka remained under pressure after a fourth consecutive series defeat. They trained as hard as they have all tour and they continued to ...

By Devin Jayasundara CIMA (The Chartered Institute of Management Accountants) Sri Lanka Division inducted its Board for the year 2012 at the Cinnamon Grand on 4 January. Union Assurance PLC (UA) CEO Dirk Pereira was elected as CIMA Sri Lanka Board Chairman, whilst Reyaz Mihular – Partner – Head of Advisory Services of KPMG Ford ...

The Sri Lanka-Malaysia Business Council of the Ceylon Chamber of Commerce announced that the independent audit partner KPMG Ford, Rhodes, Thornton & Co. have completed their audit of the applications. As Asia Pacific’s most prestigious award for entrepreneurs, it is a regional bench-mark. It honours enterprising men and women in business who have proven their ...

Nihal Sri Ameresekere releases his new book Colombo Hilton Hotel Construction – Fraud on Sri Lanka Government – Criminality Exposed, but Perversely Covered-up (published by AuthorHouse), the voluminous eighth book in a series by Nihal Sri Ameresekere on corruption, fraud, economic crime, governance, rule of law, dealing with real case studies. In this new release, ...

Reuters: Asia’s economic growth looks set to stumble over the next few months, prompting a flurry of interest rate cuts and a spike in stimulus spending that may ultimately pave the way for a strong recovery in the second half of 2012. “The catch-phrase for 2012 is the Asia yo-yo,” said Rob Subbaraman, chief Asia ...

SINGAPORE (Reuters): Asia’s economic growth looks set to stumble over the next few months, prompting a flurry of interest rate cuts and a spike in stimulus spending that may ultimately pave the way for a strong recovery in the second half of 2012. “The catch-phrase for 2012 is the Asia yo-yo,” said Rob Subbaraman, chief ...

What do nation states do when their politicians ruin their economies by serial lying to the voters, running up huge domestic and international financial deficits, uncontrolled corruption, cannot keep interest rates at reasonable rates, cannot control inflation nor hold the exchange rate steady and run the country on an unsustainable basis, depending on what has ...

WASHINGTON (Reuters): President Barack Obama will press European Union officials on Monday to reach a definitive solution to their sovereign debt crisis which is emerging as a major 2012 U.S. election worry. As Germany and France scramble to tighten budget controls across the euro zone, European Council President Herman Van Rompuy and European Commission President ...

The first ever Islamic Finance Country Report in Sri Lanka was launched by KPMG Ford, Rhodes, Thornton and Co. in collaboration with the Research Intelligence Unit. The publication titled ‘Islamic Finance Country Report – Window of opportunity in Sri Lanka’ provides insight into the demographics of the Islamic finance market and an in-depth analysis of ...

Races are scheduled to kick off from 7.00p.m on 17 December By Kshanika Argent For the first time in Sri Lanka’s history (with the exception of a brief period in the 60’s) Colombo will witness night races at the inaugural Colombo Night Races which coincides with the second Electric Peacock Festival, scheduled for this December. ...

Resolutions seeking reappointment of two retiring directors not passed; two new Directors rejected; four nominees of 7.6% owning BAT go throughThere was spark at the 21st Annual General Meeting of Blue Diamond Jewellery Worldwide last week with regard to the election and appointment of Directors to the Board. Ananda Wehalle and Mairus Fernando, who retire ...

Reuters: Switzerland, despite bank settlements with the United States to disclose tax evaders, remains the top refuge for financial secrecy, according to a new international ranking of tax haven countries. Switzerland is the world leader in financial opacity, only grudgingly conforming with disclosure agreements among developed countries while courting tax evaders in developing nations, said ...

By Dinali Goonewardene As International Financial Reporting Standards (IFRS) are to be adopted in Sri Lanka from 1 January 2012, a question looms as to how tax liabilities will be calculated under the new standards. The tax laws may be changed in order to fall in line with the IFRS or another set of accounts ...

By Dinali Goonewardene A luncheon presentation was held by the Association of Chartered Certified Accountants (ACCA) and KPMG Ford Rhodes Thornton on ‘International Financial Reporting Standards Implementation – The Next Steps,’ with the aim of promoting knowledge of IFRS before their adoption in Sri Lanka in January 2012. Speaking at the presentation V. Venkataramanan, Executive...

DUNEDIN,  (Reuters): The rugby World Cup paused for breath on Thursday with a rare rest day as attention turned to the preparations of the 13 teams hoping this weekend’s final round of pool games will send them into the quarter-finals. South African Springboks players Morne Steyn, Francois Louw, Victor Matfield and Jannie du Plessis stretch ...

The Taprobana 4×4 challenge, the country’s premier off-road race, this year powered by Etisalat will see 30 participants test their limits through some of the toughest terrains of the Uva Province. Come race day on 7 October through to the 14 October, this flagship race organised by the Four Wheel Drive (FWD) Club of Sri ...

IOS says that SL can take local benchmarks to the world to grow exportsBy Uditha Jayasinghe Sri Lanka’s attempt to broaden its presence in international markets must be led with its adherence to international standards and best practices, says an international expert. The International Organisation for Standardisation (IOS) Secretary General Rob Steele told the Daily ...

The second public lecture titled ‘Convergence of Sri Lanka accounting standards with international financial reporting standards: A business perspective,’ of the Postgraduate Institute of Management Alumni (PIMA) was successfully held on 9 September 2011 at the PIM Auditorium. The welcome address was made by Dilini Wijeweera, President of PIM Alumni. Professor Uditha Liyanage, Patron a...

The Association of Accounting Technicians Sri Lanka (AATSL) will hold a two-day international conference from September 27 to 28 at the Hotel Galadari Colombo. The inauguration will commence at 6.00 pm on 27th September and the theme of the conference will be “Confronting the New Economic Landscape.” “This theme has been chosen to address the ...

Oil futures fell on Friday as the market nervously awaited U.S. jobs data for new evidence on whether the world’s largest crude consumer can avoid recession. A storm blowing off the U.S. Gulf of Mexico provided modest price support after major oil and gas producers shut down platforms and evacuated workers to limit any damage. ...

President Mahinda Rajapaksa will inaugurate tomorrow the three-day Rotary South Asia Conference for Development and Cooperation hosted by Sri Lanka. The President will address the ceremonial inauguration on Sunday at 9 a.m. at Galadari Hotel whilst the conference will be held at Cinnamon Grand. Around 300 delegates and speakers of repute from the corporate and ...

Highly respected Managing Director and Editor in Chief of The Hindu N. Ram will be in town over the weekend to actively participate at the Rotary South Asia Conference on Development and Cooperation in Colombo from 4-6 September. Ram will moderate the first plenary session titled “Reaching within – Bonding South” on the inaugural day ...

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 ...