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MACAU,(Reuters): Russia is placing bets that plans to build a gambling and entertainment zone near the port city of Vladivostok will lure investors who have spent big money on casinos for Asian gamblers in Macau and Singapore. Vladivostok, located near China and known more for its oil and gas pipes, has been undergoing a facelift ...
The UNWTO has welcomed the Declaration issued by the Tourism Ministers of the G20 economies (T20) calling for priority to be given to facilitating travel as a means to boost economic growth and create jobs. The Declaration states, “To ensure that tourism can play a key role in creating employment opportunities, both directly and indirectly ...
Minister of External Affairs Prof. G.L. Peiris will pay an official visit to the Russian Federation on the invitation of Sergey Lavrov, Minister of Foreign Affairs of the Russian Federation on May 23. During the visit Prof. Peiris will hold official talks with his Russian counterpart on a range of issues of importance to both ...
Pakistan won its first SAARC Film Award on Sunday night for the documentary ‘Saving Face’ that chronicles the work of a British plastic surgeon who rebuilds the faces of women disfigured by acid attacks. Another Pakistani movie nominated for the Awards was Mehreen Jabbar’s directed Raam Chand Pakistani, which bagged silver medal in the Best ...
Following is the response from Dlimah Tea Director Malik J. Fernando to Willie Weerasekera’s article ‘Pure Ceylon Tea’ or ‘tea hub’? The billion dollar question published last Friday in Daily FT.The writer speaks sense when he says “the million-dollar question is therefore much more than ‘Ceylon Tea’ or ‘tea hub’ – It is: How do ...
News reports point to an important decision that the minister concerned has been requested to make on the above subject. If this is correct it is important that we recognise that it is more than a million dollar decision that has been called for. It is so important a decision because it could determine the ...
Expolanka Holdings PLC yesterday acquired the controlling stake in Akquasun Holidays India (Pvt) Ltd. at a cost of US$ 915,000, thus further consolidating both its presence and strength in the leisure and travel sectors. Akquasun Holidays, the Mumbai-based destination management specialist is a B2B Destination Management network company. Primarily mandated to attracting traffic from emerging ...
Expolanka Holdings PLC yesterday acquired the controlling stake in Akquasun Holidays India (Pvt) Ltd. at a cost of US$ 915,000, thus further consolidating both its presence and strength in the leisure and travel sectors. Akquasun Holidays, the Mumbai-based destination management specialist is a B2B Destination Management network company. Primarily mandated to attracting traffic from emerging ...
By Saman Kelegama New deal from Busan? The 4th High Level Forum (HLF) on Aid Effectiveness in Busan which took place during 29 November to 1 December 2011 came out with a New Deal for Engagement of Fragile States – a somewhat novel document of aid architecture that provides fragile states a stronger role in ...
During the April holidays, Travelon ventured out to Ho Chi Minh (Saigon) City with 14 adventurous Sri Lankans led by their tour captain, Director Bandula De Silva. This was the maiden voyage to Vietnam by Travelon and the management was very keen that the tour should come off with flying colours since this was a ...
By Cheranka Mendis Asia Leisure, a fully-owned subsidiary of Asia Capital Group, has formed a strategic tie-up with Teoria Investments Japan, through which Teoria has made an initial investment of US$ 2 million into Asia Leisure’s property Taprobana in Balapitiya. Anticipated to be launched in April 2013, Taprobana is the start of a major expansion ...
The Ceylon Chamber of Commerce (CCC) signed a cooperation agreement with the Chamber for Promotion and Economic Development of the BRICS Countries (Brazil, Russia, India, China and South Africa) called ‘BRICS-PED’ recently. This special agreement will initially promote an identified range of products/services between Sri Lanka and BRICS Countries and facilitate alliances on reciprocal ...
Dubai’s rapidly-expanding hotel industry has posted an all-time high of Dh16 billion ($4.35 billion) in revenues during the first quarter of 2012, marking an increase of 24% over last year’s figures. Dubai hotels also showed a nine% increase in guest numbers (which crossed the nine million mark), 22% jump in guestnights and a 12 per ...
The fall of the rupee is likely to bring mixed results for the tea industry, John Keells Plc said last week. It said Sri Lanka’s Rupee fell to a record Rs. 132.20 against the dollar breaking the previous record of Rs. 131.60 on 19 March 2012. “The impact of the devaluation and rising energy ...
Reuters: Indian Oil Corp is ready to help Sri Lanka cut its heavy dependence on Iranian crude imports, as tighter Western sanctions hit supplies from Tehran, IOC subsidiary Lanka IOC told Reuters on Thursday. A top Lanka official said it was ready to help in a $ 2-billion upgrade of Sri Lanka’s 50,000 barrels per ...
Sri Lanka’s tea exports in 2011 reached an all time in US Dollar terms as well, according to Ceylon Tea Brokers Plc. “Based on the weighted average rupee value for US$ 1 in 2011 and 2010 as obtained from the website of the Central Bank of Sri Lanka, equivalent US$ export earnings in 2011 amounted ...
Technology and Research Deputy Minister Faiszer Musthapha, who was among the Sri Lankan delegation to the UNHRC sessions in Geneva, says there are issues in any country when majorities and minorities live together. “Such issues can only be solved through dialogue. Any third party intervention makes the issues more complicated and totally destroys countries. Iraq, ...
Although relatively unknown in Sri Lanka, the world’s third largest advertising holding company, the Publicis Groupe, has a formidable presence worldwide and is represented in Sri Lanka by one of its main global subsidiaries, Leo Burnett. With Sri Lanka showing potential for high growth in the years to come, the second-in-command of the French multinational ...
Sri Lanka’s embassy in Russia has completed an innovative project to further promote Sri Lanka as the preferred tourism destination among the Russian people. Under this project, which was ably supported by Sri Lanka Tourism, they have compiled a tourist guidebook on Sri Lanka in the Russian language and two audio CD’s containing details of ...
Prospects for the global economy are slowly improving again, but growth is expected to be weak, especially in Europe, and unemployment in many advanced economies will stay high, according to the IMF’s latest forecast. Although action by policymakers in Europe and elsewhere has helped to reduce vulnerabilities, risks of a renewed upsurge of the crisis ...
Commodity broker John Keells Plc said yesterday that the global production of black tea was heading towards a shortfall in the first half of 2012 due to the prevailing dry weather in major tea producing countries and this will help stabilise prices at remunerative levels. It said worst ever drought in fifteen years in North ...
Sri Lanka’s embassy in Russia has completed an innovative project to further promote Sri Lanka as the preferred tourism destination among the Russian people. Under this project, which was ably supported by Sri Lanka tourism, they have compiled a Tourist Guide Book on Sri Lanka in the Russian language and two audio CD’s containing details ...
The heads of state of BRICS countries met for the fourth time at their annual summit, this time held in Delhi. The original BRICS countries are Brazil, Russia, India and China with South Africa joining later on. These countries belong to the category now described as emerging economies. The BRIC countries together represent over 40 ...
David Parker, a leading global expert on prepaid payment cards will be visiting Sri Lanka on 18 April as the guest of MTI Worldwide, a leading Sri Lankan payments consultancy, to run a workshop for banks. He has forecasted that prepaid payment cards in Sri Lanka will soon see explosive growth. “Prepaid cards are Visa/MasterCard ...
Several days after its original announcement of suspension of flights during off-peak season, SriLankan Airlines retracted saying services to Rome, Milan and Moscow will continue uninterrupted. “SriLankan Airlines’ services to Rome, Milan and Moscow will remain uninterrupted as per the present schedule. The flight frequencies to these three destinations will also remain the same,”...
Deals worth $ 12.1 m under negotiation “An invaluable learning curve for Sri Lanka’s international trade scheme,” says Rishad The recently-concluded Expo 2012 was a successful event, coming after a lapse of 15 years. “Expo 2012 garnered confirmed orders to the value of US$ 66,090 and currently orders under negotiation amount to US$ 12,110,315. There ...
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 ...
Sri Lanka thanks all Muslim countries which supported the country at the UNHRC sessions in Geneva by voting against the resolution and by abstaining from voting. President Mahinda Rajapaksa is a true and long time friend of Islamic nations, Technology and Research Deputy Minister Faizer Mustapha said yesterday. Mustapha said that 15 countries that voted ...
SriLankan Airlines yesterday announced certain capacity adjustments to its European route network, taking into consideration the rise in fuel and operational costs and economic indicators in the EU region. It said taking current travel trends into consideration, the airline will cancel flights to Zurich, Switzerland during the off-peak from 1 May to 26 June and ...
Novo Nordisk, the reputed multinational Danish company, a world leader in diabetes related products, launched a new drug – Victoza – for treating adults with type 2 diabetes in Sri Lanka recently. Victoza (generic name: Liraglutide) which has multiple benefits was launched at an event on 31 March attended by well known specialist physicians and ...