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MANILA, PHILIPPINES: Asian Development Bank (ADB) President Haruhiko Kuroda today opened the 7th Asia Clean Energy Forum (ACEF) which is gathering high-level experts and investors to exchange experiences and forge new partnerships to advance clean energy development in the region. Asia and the Pacific has a huge and growing demand for energy. Yet the region ...
- Inclusive, green, knowledge-based growth keys to Asia’s future: ADB Chief (Category: Business)
- ADB funds $ 130 m for power supply upgrades to aid post-conflict regions (Category: Business)
- Sri Lanka to celebrate World Tourism Day tomorrow (Category: Business)
- UN Chief Ban calls for ensuring clean energy future for all (Category: Business)
The Colombo stock market fell 2.8 per cent yesterday wiping out Rs. 20 billion in value to hit a 23-month low as domestic and foreign investors sold on both worry global gloom and a weak rupee and the outlook for interest rates. The main index ASI fell 136.58 points to 4,748.60, its lowest since July ...
- Stocks fall amid profit-taking in overbought market (Category: Business)
- Stock market at two-week low; block deals boost activity (Category: Business)
- Shares down on foreign selling (Category: Business)
- Stocks at 23-month low; Rupee stronger (Category: Business)
Reuters: Oil prices near $100 a barrel are still a threat to a slowing global economy that is likely to consume less fuel than the International Energy Agency (IEA) had forecast, the IEA’s executive director said on Tuesday. Brent crude this week dropped to a 16-month low below $96 a barrel
- Iran sanctions already hitting oil trade flows: IEA (Category: Business)
- IEA has assured OPEC no more oil stock shocks (Category: Business)
- Arab Spring disrupts energy investment-IEA (Category: Business)
- Saudi says high oil prices a worry, will take steps (Category: Business)
LOLC Group posted yet another year of healthy growth in profitability recording Rs. 10.3 b profit before tax, a 24% year on year growth. Profit after tax for the year was Rs. 8.9 b, a 27% increase over last year which was Rs. 7 b. LOLC Group’s superior performance comes amidst a challenging environment where ...
- LOLC Group kicks off FY13 with Rs. 1.1 b pre-tax profit in 1Q (Category: Business)
- LOLC forges ahead with steady growth in profitability (Category: Business)
- Commercial Leasing records impressive growth, to list on CSE (Category: Business)
- Lanka ORIX Finance records momentous profit growth (Category: Business)
Bank of Ceylon’s supremacy in Sri Lanka is well known but recently the bankers to the nation proved its true mettle with landmark success for its ground breaking $ 500 million five year bond issue. The issue is a trailblazer for several reasons. It was the first global bond issue by a Sri Lankan corporate. ...
- Sri Lanka unit trust industry to reach Rs. 50 b in five years (Category: Business)
- Successful $ 500 m BOC Bond is landmark says HSBC CEO (Category: Business)
- HSBC clinches award for best Sri Lanka deal (Category: Business)
Reuters: Indian export data released on Friday confirmed a sharp slowdown in foreign trade, adding to the woes of Asia’s third-largest economy and piling more pressure on the weak coalition government to take steps to boost economic growth. Indian exports inched up 3.23 percent to $24.5
- Sevenagala sugar factory will be controlled solely by the govt., Basil (Category: Breaking News)
- EXPLAINER: What caused Sri Lanka’s economic collapse? (Category: Breaking News)
- Economic decisions cannot be taken by politicians – Namal (Category: Breaking News)
- Govt. To Remove Unauthorized Structures In Economic Center (Category: Breaking News)
Government’s commitment: Will improve state enterprises The Annual Report of the Ministry of Finance and Planning for 2011, just released, has, among many others, one important positive message for the nation. It has reiterated the Government’s commitment, as it had done earlier too, to improving the performance of what it calls State Owned Business Enterprises ...
- Taming the ‘monsters’ (Category: Business)
- Electrifying losses (Category: Business)
- C-Suits focus on implementing Enterprise Risk Management on enterprise-wide (Category: Business)
- Sajith slams Expropriation Bill (Category: Business)
A team of officials from the International Monetary Fund (IMF) is to arrive in Sri Lanka next week to review the country’s economic conditions before disbursing the final tranche of the US$ 2.6 billion Stand-By Agreement (SBA), Government officials said. The review is scheduled to commence on 4 June, Central Bank Governor Ajith Nivard Cabraal ...
- Tete-a-tete (Category: Business)
- IMF team to visit Sri Lanka on review mission before final disbursement of SBA (Category: Breaking News)
- IMF approves the US$ 415 million final tranche of SBA for Sri Lanka (Category: Breaking News)
- IMF approves $ 415m final disbursement (Category: Breaking News)
UNP MP Ravi Karunanayake has written to Committee On Public Enterprises (COPE) Chairman D.E.W. Gunasekara requesting him to summon officials of the Securities and Exchange Commission (SEC) and the Colombo Stock Exchange (CSE) over the fiasco in capital markets and boost investor confidence. Following is Karunanayake’s full letter to the COPE Chairman: Over the last ...
- SEC Chief insists on independence at COPE (Category: Business)
- Fresh motion to summon Ex-SEC Chiefs before COPE (Category: Business)
- Chandra J writes to COPE Chief over SEC (Category: Business)
- Peoples Bank Nonperforming loans Rs. 54 billion in 2021 (Category: Breaking News)
Finance Ministry 2011 Annual Report lists key factors Raps promotional agencies BOI, Sri Lanka Tourism, EDB Tea Board and others for bureaucracy and lack of coordination Private investment needs to be increased to 30% of GDP from 24% in 2011 Despite the end of the war three years ago, the full potential for higher investments ...
- BOI Board in limbo (Category: Business)
- Ministry of Economic Development breaks silence; responds to tourism, BOI issues (Category: Business)
- Will Mahinda’s 7th Budget be lucky for Lanka? (Category: Business)
- Basil bats for PB (Category: Business)
The Central Bank of Sri Lanka has just released its annual publication titled ‘Economic and Social Statistics of Sri Lanka 2012, Volume XXXIV’. This publication contains a wide range of economic and social indicators of Sri Lanka covering areas such as climate, population and labour force, national accounts, agriculture, industry, prices and wages, external trade ...
- Release of ‘Economic and Social Statistics of Sri Lanka – 2022’ Publication (Category: Breaking News)
- Sri Lanka Central Banks releases report on economic and social statistics for 2010 (Category: Breaking News)
- Vital Data (Category: Business)
- Increase in Per Capita Income (Category: Breaking News)
Reuters: The Central Bank said on Thursday it still believed the battered rupee would stabilise at levels stronger than 125 to the dollar, despite comments from a senior bank official. Chief Economist Swarna Gunaratna told Reuters on Wednesday that the Central Bank expected the currency to stabilise at current levels, which are now around 132. ...
- Rupee value: CB denies report, Reuters stands by its story (Category: Business)
- Rupee’s value: Out goes 125; welcome 132 (Category: Business)
- Rupee slips on importer dollar demand; shares down (Category: Business)
- Stocks at 23-month low; Rupee stronger (Category: Business)
By Cassandra Mascarenhas The biggest mobile forum in the region, the South Asian Mobile Conference was held for the third year in Colombo earlier this week, bringing together some of the world’s top experts in the mobile sphere, developers of the next generation, researchers, academics and policy makers, creating a platform for a chance of ...
- Creating digital inclusion and regional connectivity (Category: Business)
- Microsoft, Nokia unveil new Lumia smartphone (Category: Business)
- Google+ and Apple iCloud bring mobile platform battle to the cloud (Category: Business)
Reuters: Central Bank expects the rupee to stabilise at current levels of around 132 to the dollar without intervention, a senior official said on Wednesday, abandoning its earlier stance where it had expected the currency to settle at a higher level. The rupee was trading around 132 per dollar on Wednesday. Both the Central Bank ...
- CB intervenes again to defend rupee (Category: Business)
- CB expects currency volatility to ease (Category: Business)
- Rupee on a yo-yo! (Category: Business)
- Rupee hits new low, but State intervenes (Category: Business)
Every day we wake up to news from the economic front – and that is the war we declared after the conclusion of the 30-year conflict and with some zeal – and sometimes the figures and news are not quite enthralling, maybe to some extent we should take up the same battle positions here too. ...
- Who will win the Gratiaen? (Category: Business)
- ‘Power Sri Lanka 2012’ (Category: Business)
- Treasure island in nano times: Welcoming 2012 in Sri Lanka (Category: Business)
By R.M.B Senanayake The Secretary to the Treasury wants a ban on imported food items that can be produced locally. He refers to the possibility of saving foreign exchange by banning imports of milk foods, sugar, etc., which can be produced locally. We can agree that goods that can be produced locally should be produced ...
- Bull “Dose” (Category: Breaking News)
- Reducing Trade Deficit (Category: Breaking News)
- Government raises tax on potatoes and canned fish (Category: Business)
- Brazil sugar losing competitiveness-Kingsman (Category: Business)
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011
- ‘Rupee Volatility – In Search of Equilibrium’ (Category: Business)
- Forex crisis: CB explains and assures (Category: Business)
- Economic growth to rebound in 2013: SCB (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
Wide publicity has been given to the events unfolding at the Sri Lanka Tourism regarding the resignation of the Chairman from Sri Lanka Tourism Promotion Bureau, Sri Lanka Institute of Tourism and Hotel Management and Sri Lanka Convention Bureau and the performance of the Board of Investment. The media reports have given the impression that ...
- Basil bats for PB (Category: Business)
- BOI Board in limbo (Category: Business)
- Combined publicity blitz for Sri Lanka tourism still not 100% ready (Category: Business)
- Nalaka Godahewa tosses three tourism hats (Category: Business)
International arrivals into Asia/Pacific1 destinations grew by a collective 7% year-on-year during the first two months of 2012, according to preliminary data released by the Pacific Asia Travel Association (PATA) last week. At this point Southeast Asia is the fastest growing destination, followed by South Asia, however, both sub-regions generated somewhat slower growth than last ...
- Asia Pacific visitor arrivals up 3% in May (Category: Business)
- Asia dominates in Asia Pacific tourism boom – PATA (Category: Business)
- Asia Pacific tourism records 6% growth in 2011 – PATA (Category: Business)
- PATA says international arrivals up in April but growth rate slows (Category: Business)
The Sri Lanka Economic Summit 2012 on the theme ‘Positioning Sri Lanka in the Global Economy’ will be held from 10 to 12 July 2012 at the Cinnamon Grand, Colombo. The first session of the event titled ‘Sri Lankan Economy in Perspective’ is scheduled to take place from 9 a.m
- Young guns to share insights to positioning Sri Lanka in global economy (Category: Business)
- Institute of Hospitality – Sri Lanka Chapter AGM (Category: Business)
- Sri Lanka Economic Summit to bring the economy in perspective (Category: Breaking News)
- Carson Cumberbatch platinum sponsor of Sri Lanka Economic Summit 2012 (Category: Business)
The World Bank said its lending to Sri Lanka will more than double in the year starting July to help spur investment and sustain economic expansion according to Bloomberg. The island will receive $500 million in the period under a recently endorsed new country partnership strategy and $527 million in the 12 months ending June ...
The Royal Bank of Scotland Group’s Head of Rating Advisory Raymond Woo had recently called on Economic Development Minister Basil Rajapaksa. “Sri Lanka was able to control the impact of internal and external crisis successfully due to the efficiency of the political, economic and administrative management of President Mahinda Rajapaksa,” Minister had told Woo. Minister ...
- Minister suggests exporting Sri Lanka`s surplus rice and vegetables (Category: Breaking News)
- Minister suggests exporting Sri Lanka's surplus rice and vegetables (Category: Breaking News)
- Sri Lanka exporting maize is a people's victory - Minister (Category: Breaking News)
- Sri Lankan would face any challenge - minister (Category: Breaking News)
SINGAPORE (Reuters): China’s total in 2012, fuelled by demand from the automobile and other sectors, a senior rubber industry official said last week, despite a slowdown in the world’s second-largest economy. China accounts for 35 percent of global natural rubber consumption
- Globle rubber industry hopes China demand will offset Europe woes (Category: Business)
- Thai 2012 rubber output seen up 5% (Category: Business)
- Rubber rumbles (Category: Business)
- Thailand seeks global cooperation on rubber prices (Category: Business)
NDB opened its latest branch amidst the peaks of Nawalapitiya, offering a wide array of financial services to the people of the area. With the opening of this branch, NDB’s network now extends to 66 branches across the island. The branch is located at No. 70B, Gampola Road, Nawalapitiya and will be open from Monday ...
- NDB Bank extends footprint to Bandarawela (Category: Business)
- NDB geared for development in Hambantota (Category: Business)
- NDB Bank opens Borella branch with Saturday banking (Category: Business)
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
- Hub is no hoodoo, says TEA (Category: Business)
- Marketing 3.0 and Sri Lanka (Category: Business)
- ‘Pure Ceylon Tea’ or ‘tea hub’? The billion dollar question (Category: Business)
- Do people prefer coffee over tea? (Category: Business)
Sri Lanka and Kazakhstan have signed a Memorandum of Understanding (MoU) to expand the bilateral relations between the two countries and hold regular consultations between the respective foreign ministries. The MoU was signed during the visit of External Affairs Minister, Prof. G. L. Peiris to Kazakhstan on 24 and 25 May at the invitation of ...
- Sri Lanka and Kazakhstan to improve relations (Category: Business)
- GL off to Russia and Kazakhstan (Category: Business)
- G.L. to Russia and Kazakhstan (Category: Breaking News)
- Sri Lanka to strengthen bilateral ties with Qatar during Premier’s visit (Category: Business)
President Mahinda Rajapaksa has pointed out the need for proper management in lifestyles in line with the economic limits. Participating in an event to release the 2011 Annual Report of Ministry of Finance and Planning at the Ministry Thursday, the President has said that attention should be focused on the aspiration of youths and modern ...
- Kamala Harris' VP win is huge for HBCUs, Tougaloo president says (Category: USA, Mississippi)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
Sri Lanka has thrown open it $ 1 billion packaging sector for the vital SMEs. It also wants the packaging sector to enter exports sector targeting India and China. “Since the future of packaging, appear to head towards niche consumer markets, and our region’s major buyers India and China are demanding more and more packaging ...
- ‘Lankapack 2012’ geared to showcase best local packaging solutions (Category: Business)
- Food industry to the fore (Category: Business)
- Sri Lanka spends over Rs.100 b on brand building (Category: Business)
- Sri Lanka's US$ 1 billion packaging industry targets India and China (Category: Breaking News)
Reuters: European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout programme. After nearly six hours of talks held during an informal dinner, leaders said they were committed ...
- World economies prepare for panic after Greek polls (Category: Business)
- G20 backs Europe’s plans for overhaul to fight crisis (Category: Business)
- Global leaders urge swift action to resolve Europe crisis (Category: Business)
- Euro zone crisis reaches France, turns existential (Category: Business)
The Urban Development Authority (UDA) of Colombo, supported by foreign investment, is in advanced stages of developing the shoreline around Beira Lake. Situated in the heart of the Sri Lankan capital, the man-made lake is already surrounded by major productive use buildings such as offices, hotels, shopping malls, apartments, banks and commercial and leisure establishments. ...
- Bigger ambitions for city tower (Category: South Australia)
- Residents join new tower fight (Category: Australia, Tasmania )
- Moshe Safdie designed 65-storied tower to be built near Beira Lake (Category: Breaking News)
- Indian firm to construct Sri Lanka's tallest building (Category: Breaking News)
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