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With the rejection of the Cabinet decision proposed to resolve the problem of university academics, the issue seems to be dragging without a settlement. The lecturers’ main demands are a salary increase, increase in Government funding of the education system to 6% of GDP (Gross Domestic Product), end to political interference in education, and establishment ...
- Universities in crisis: Key learnings (Category: Business)
- Chaos in universities: A solution? (Category: Business)
- English as medium of instruction at Law College (Category: Breaking News)
- Medical education at crossroads (Category: Breaking News)
The unprecedented drought over the past few months due to the long delay of the south-west monsoon affected the entire country, resulting in withered paddy-fields to farmers; chicken farmers forced to slaughter animals due to water scarcity, soaring vegetable prices for housewives, and power cuts for everyone. The effects of the drought, the victims and ...
- The drought, Mahaveli waters and the farmer (Category: Business)
- Paddy farmers’ problems (Category: Business)
- CEB: Making losses or deliberate blunders? (Category: Business)
- Reservoirs run dry with no rains, country heading for electricity crisis (Category: Breaking News)
Traders Association Chairman M.S. Rahim told the Daily FT that if ...
- No bounce at 2012’s first Colombo rubber auction (Category: Business)
- No takers for rubber! (Category: Business)
- FACTBOX:How Asia’s rubber producers intervene on prices (Category: Business)
- Global 2012 rubber output forecast revised up: ANRPC (Category: Business)
By Marianne David and Cheranka Mendis The safari savagery that erupted last week with mobile tented safari operators being attacked seems to have reached a ceasefire of sorts, following two meetings between stakeholders on Wednesday. Employees attached to Mahoora Safari Camps, Kulu Safaris and Leopard Safaris were assaulted by mobs affiliated to the Tissamaharama Jeep ...
- Safari savagery yet to be settled; stakeholder meeting in the offing (Category: Business)
- One size fits all (Category: Business)
- Safari savagery (Category: Business)
- Trailblazing Eco Team Marks 11th year of adventure tourism in Sri Lanka (Category: Business)
Given first half performance, believes several 2012 Roadmap targets will be missed UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday claimed that most of the Central Bank’s 2012 Roadmap targets were likely to be missed, based on below par performance on the external trade front during the first half. ...
- Harsha renews call for swift action against NSB-TFC deal makers (Category: Business)
- Readying for a fight? (Category: Business)
- Central Bank emphatic dollars are coming (Category: Business)
- Imports swell, exports lose steam (Category: Business)
By Nisthar Cassim The world’s leading nutrition, health and wellness company, Nestlé said last week Sri Lanka is a high growth market with strong upside in tandem with improving socioeconomic development aided by the end-of-war benefit. “We are experiencing double digit growth in Sri Lanka and see very positive prospects going forward. Our commitment to ...
- Creamier 2011 for Nestlé Lanka shareholders (Category: Business)
- Nestlé Worldwide Executive Vice President in town (Category: Business)
- Nestle Lanka ends 2011 with strong results (Category: Business)
- Rs. 1.1 b Nestle rice noodle plant to serve convenient-foods hungry Sri Lanka (Category: Business)
With US$ 500 m capital infusion national carrier ready for stronger take off By Cheranka Mendis Sri Lanka’s national carrier SriLankan Airlines and budget carrier Mihin Lanka are growing despite challenges and are no longer loss-making entities, SriLankan Airlines Chairman Nishantha Wickremasinghe said. Hosting a group of journalists around the SriLankan base in Katunayake, Wickremasinghe .....
- SriLankan Airlines’ IAA completes first TAASL member agent training program (Category: Business)
- SriLankan goes daily to Beijing, Shanghai from mid-July (Category: Business)
- SriLankan lauded for role in tourism promotion (Category: Business)
- House of SriLankan Airlines chairman robbed (Category: Breaking News)
D.E.W. Gunasekara says it is routine with 2010 Annual Report as subject; Ravi K says will take up reversed NSB-TFC deal and other stock market illsThe Chairman and Commissioners of the Securities and Exchange Commission (SEC) will appear before the Committee on Public Enterprises (COPE) today when Opposition is likely to query on ill doings ...
- NSB-TFC deal: CID questions Kariyawasam (Category: Business)
- A comprehensive investigation is underway on TFC-NSB deal – SEC (Category: Breaking News)
- NSB’s custodial role suspended, Sampath clears Friday settlements (Category: Business)
- NSB Head gives quit notice (Category: Business)
In Sri Lanka to empower and enlighten Sri Lanka’s business community and budding entrepreneurs, Chair Emeritus and board member of the MIT/Stanford Venture Lab Gigi Wang will host a seminar titled ‘Success drivers of Silicon Valley – venture capital, investment and business opportunities for Sri Lanka’ tomorrow in collaboration with Infotechs Ideas. Speaking to the ...
- Internet pioneer and Silicon Valley insider Gigi to hold top seminar on 8 Aug. (Category: Business)
- Growth Plan for Sri Lanka (Category: Breaking News)
At Tuesday’s meeting Finance Ministry Secy. reiterates united effort by all to revive Colombo Bourse To appoint all stakeholders-comprised Consultative Committee for regular dialogue and consensus Credit rule to be revised to boost retail participation; fresh support to brokers in the offing, among other measures Meeting with top listed blue chips to be convened next ...
- SEC succumbs! (Category: Business)
- Dr. jayasundera-capital market meeting positive (Category: Business)
- Brokers delighted by talk, lunch with President (Category: Business)
- Dr. PB to meet SEC Commissioners today (Category: Business)
Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets
- Lion leads frontier markets (Category: Business)
- Sri Lanka’s growth world’s fourth best! (Category: Business)
- Sharper slip in Sri Lanka’s rank in global competitiveness (Category: Business)
Says trade before politics and wants better connectivity for businessmen By Uditha Jayasinghe Sri Lanka should tap into the south Asian region, which is putting trade before politics, said a top official, calling for Sri Lanka to move ahead with the Comprehensive Economic Free Trade Agreement (CEPA). South Asian Association for Regional Cooperation (SAARC) Chamber ...
- Basil urges greater integration by SAARC biz (Category: Business)
- Re-considering SAARC trade (Category: Business)
- Sun Foundation extends its initiative in Sri Lanka (Category: Business)
- South Asia’s private sector unites to fast-track trade facilitation (Category: Business)
By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard and Poor’s.“Standard and Poor’s reiterated what we have been saying ...
- Harsha claims Govt., CB lack credibility (Category: Business)
- UNP draws guns on “military control” of Rupee (Category: Business)
- S&P’s soother! (Category: Business)
Market’s value up Rs. 23 b, ASI back again in 5,000-points level The Colombo stock market produced a confident rebound yesterday driven by high net worth investors as well as institutions picking up low valued opportunities. The market’s value rose by Rs. 23 billion, slightly lower than Friday’s gain of Rs. 26 billion. The rise ...
- Stocks extend rally on banks, hotels (Category: Business)
- Bourse loses Rs. 85 b in value in a week (Category: Business)
- Foreign craving for stocks grows; inflow tops Rs. 28 b (Category: Business)
- Net foreign inflow tops Rs. 30 b; Bourse rebounds (Category: Business)
The NSB/TFC deal and the General Recent events in Sri Lanka have reconfirmed that though seemingly power may be unlimited, there are in reality constraints which limit the options those in power have. As proof of this fundamental reality, the first event is the purchase by the National Savings Bank (NSB), a State-owned entity, whose ...
- NSB conspicuous by its silence on allegations over TFC buy (Category: Business)
- Not-so-ugly truth of the NSB saga! (Category: Business)
- NSB-TFC deal’s stench spreads! (Category: Business)
- NSB Head gives quit notice (Category: Business)
By Deepal V Perera The volatile exchange rate environment since this year has dealt a fresh crisis for illegal money changers, though the positive outcome is that more transactions taking place officially. “The illegal money changers are now finding a crisis situation to match the daily changing rates, therefore forcing many to change their foreign ...
- CBSL decides not to renew permits of 15 money changers (Category: Breaking News)
- CBSL suspends renewal of permits of 15 private foreign exchange dealers (Category: Breaking News)
- Pressure mounts on overnight rates (Category: Breaking News)
- CBSL permanently revokes money changing permit of Prasanna Money Exchange (Category: Breaking News)
In mid February, the Ceylon Electricity Board (CEB) informed consumers of their intention to revise their electricity charges from the following month. The March electricity bill issued to the consumer by the meter-reader was based on previous rate. The April bill based on revised rates with the addition of fuel surcharge for March was sure ...
- More power cuts after China-built plant fails again (Category: Business)
- In the Chinese-built coal power plant of Norchcholai, there are more questions than answers. (Category: Breaking News)
- Chinese firm says coal plant failed after overuse (Category: Business)
- CEB is not a burden on national economy, says Power Minister (Category: Business)
Parliament told EPF has lost Rs. 4.2 b in value over investments in five listed companies alone Last audited accounts of EPF presented in Parliament was for year 2009 only The main Opposition UNP yesterday in Parliament stepped up its charge on alleged mismanagement of funds of the EPF by the Central Bank, raising fresh ...
- Ranil raises red flag over EPF, ETF in Parliament (Category: Business)
- What the UNP Leader told Parliament (Category: Business)
- EPF is well managed, not corrupt: CB Chief (Category: Business)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
Sri Lanka’s top policy administrator, Dr. P.B. Jayasundera, popularly known by the initials of his name PB, is reported to have proclaimed that Sri Lanka should stop altogether the importation of tea from abroad for blending purposes for it would tarnish the reputation which the country has earned for centuries as the best tea producer ...
- ‘Pure Ceylon Tea’ or ‘tea hub’? The billion dollar question (Category: Business)
- Ceylon Tea: To blend or not to blend? (Category: Business)
- Coca-Cola launches ‘Minute Maid Apple’ flavour (Category: Business)
- Hub is no hoodoo, says TEA (Category: Business)
Planned divestiture of subsidiary – the sole private savings bank in the country – not advertised Deal with in-out-and-in Navara Capital under fire as Rs. 562 m strike price falls below Board recommendation Analysts label deal price as “cheap” when CB is unlikely to be generous in issuing new Specialised Bank licences in the future ...
- Shareholders furious over lack of disclosure, sale plan of MBSL’s savings subsidiary (Category: Business)
- Navara-led consortium to buy 68% of MBSL Savings Bank for Rs. 562 m (Category: Business)
- MBSL says savings subsidiary sale will result in a profit of Rs. 325 m (Category: Business)
- Double-edged deal (Category: Business)
A word about ‘The Business of Sport’ column that appears in the Daily FT, which I have deeply enjoyed. Here is a series of articles that touched the ‘inner depth’ of Sri Lanka’s popular sport arenas. It is a pity that the sport enthusiasts in Sri Lanka are denied
- Asian delegation in town for Hambantota bid (Category: Business)
- “Cricketainment” will drive the cricket industry – MTI (Category: Business)
- Mobitel supports Civil Defence Force ‘Nandimithra’ Football Team (Category: Business)
- Do sports need carnivals? (Category: Business)
Dear Editor, During the past few months, I have observed criticism, mainly by the Opposition Parliamentarians, about the manner in which the Sri Lankan economy has been managed. In my view, their attempts seem to be designed to impose blame on the Governor, Central Bank, perhaps to weaken his resolve and strength and discourage him. ...
- Sri Lanka could miss 7.2% growth target (Category: Business)
- Lankan team for U19 World Cup (Category: Business)
- Toastmasters dazzles at the Semi Annual Conference in Mangalore (Category: Business)
CB asks banks overnight for their forex commitments for Thursday and Friday; steps up bank visits Convenes meeting with treasury heads of banks; rupee crisis figures in monthly CB-bank CEOs meeting as well Dealers say no room for speculation given the very narrow net open positions; new rules apart from lack of dollars could be ...
- Markets becalmed (Category: Business)
- Rupee sinks to record low (Category: Business)
- Rupee on a yo-yo! (Category: Business)
- An effective consumer lending proposition (Category: Business)
Peradeniya Uni's Dr. Perera says exchange volatility is temporary and acceptable IMF's Mathai says no crisis but stability measures taken By Cheranka Mendis UNP MP Dr. Harsha de Silva yesterday made a compelling case that the ‘feel good’ party that the President Mahinda Rajapaksa Government tried to propagate among the people post-war was over, warning ...
- Harsha says CB has moral responsibility to be more transparent (Category: Business)
- Sri Lanka may need to consider easing monetary policy: PB (Category: Business)
- Harsha claims Govt., CB lack credibility (Category: Business)
Less than a year after starting up on its own, the company prepares to replicate its Indian success in Sri LankaJubilant FoodWorks, the master franchisee of Dominos Pizza for South Asia, last year set up its own subsidiary company in Sri Lanka, moving away from the franchisee partnership which held the fort for the Group ...
- Domino’s Pizza, opens in Colombo (Category: Business)
- India’s Jubilant Foodworks to expand overseas (Category: Business)
- Aviraté dresses up for aggressive expansion (Category: Business)
- Lenovo experiencing ‘tremendous growth’ in SL under ‘Smarter Tech for All’ vision (Category: Breaking News)
The Sambhashana discussion organised by Transparency International Sri Lanka will focus on ‘The Rupee Crisis’ on 25 April at the auditorium of the Organisation of Professional Associations (OPA), Stanley Wijesundara Mawatha, off Bauddhaloka Mawatha Colombo 7 from 4 to 6 p.m. MP Dr. Harsha de Silva, Senior Lecturer of University of Peradeniya Dr. Prasanna Perera ...
Clarifies 2011 per capita GDP computation technically correct but given fall in Rupee’s value in 2012 Central Bank should have been honest with greater disclosure and putting data in context As per IMF staff report Net International Reserves in 2011 alarming low at $ 4 b; Net Open Position below $ 3 b; Short Term ...
- CB data: Cabraal shoots down Harsha’s claim (Category: Business)
- CB statistics under fire (Category: Business)
- Borrowed surplus looming, warns Harsha (Category: Business)
- The GDP Per Capita in the Central Bank Annual Report for 2011 (Category: Business)
The Central Bank, in its latest Annual Report, has downgraded its growth forecast for 2012 from eight per cent to 7.2 per cent. This is due to a combination of adverse global developments and the negative effects of domestic policy misalignments. The contractionary measures introduced to address the imbalance in the trade account (i.e. to ...
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
- International financial institutions and development in Asia (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
- Central Bank’s Check List for 2012 and beyond (Category: Business)
Many readers would have by now heard and read about the annual Oxford – Cambridge boat race over the weekend, where a spoiler sprang an underwater surprise and about an oar that broke. All this led to what I would term as a less than wholesome win awarded to Cambridge. Almost three weeks ago, I ...
- Final countdown starts to London Games (Category: Business)
- ‘The Artist’ Wins Producers Guild’s Best Picture Award (Category: Business)
- F1 looks for a pattern in the unpredictable (Category: Business)
- Phelps quits the pool with unchallenged record (Category: Business)
The Daily FT on Thursday featured on page 1 a story based on some startling comments and allegations by UNP MP Dr. Harsha De Silva and young business leader Dilith Jayaweera. The headlines and the contents wouldn’t have been a good read for President Mahinda Rajapaksa
- Rocky Road (Category: Business)
- Not Under (Category: Business)
- Six new Bank branches in the North next week (Category: Breaking News)
- Commercial Bank arrives at Maskeliya (Category: Business)
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