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Despite a reversal in the rate of exports decline and evidence of some improvement, Sri Lanka is actively moving to help its exporters to face the global downturn, with a challenging new $ 12 b export goal set for 2102. “Since you, the distinguished exporters, who account for nearly 80 per cent of Sri Lanka’s ...
In a significant move, the National Lotteries Board (NLB) has signed a long term agreement with the country’s premier printing and packaging company Printcare to supply their scratch lottery tickets. These tickets had hitherto been imported from India, and other countries. The tender to produce 120 million lottery tickets annually was awarded to Printcare ...
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 ...
Continuing in its commitment towards strengthening and adding value for customers, Nations Trust Bank PLC recently opened its seventh Foreign Exchange Service Branch at Traveller Global Pvt Ltd. in Kandy. The new foreign exchange branch is strategically located at a central and convenient point in the heart of Kandy and offers customers, sales and encashment ...
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 ...
Singapore, Hong Kong and Sydney have the strongest brand perception among major cities across Asia-Pacific, according to a new study by Ogilvy Public Relations and PublicAffairsAsia. Those cities were followed in descending order by Tokyo, Melbourne, Shanghai, Seoul, Osaka, Bangkok, Beijing, Kuala Lumpur, Ho Chi Minh, Mumbai, Delhi, Jakarta and Manila. A total of 300 ...
Close to 4,900 entries across 16 award categories A record number of Spikes Asia entries have been submitted this year, totalling 4,860 from 23 countries. The largest creative communications festival in Asia Pacific, which kicks off on Sunday in Singapore, is also set to welcome industry professionals from 27 countries who over two insightful ...
The Human Resources Research Program of Lirneasia has prepared and published a directory named “CHOICES – Higher Education Opportunities after A/Levels”. This directory gives out results of one of its researches, Lirneasia plans to carry out several in-depth researches into higher education field of subject. Lirneasia plans to make the directory available at major super ...
It was well past the graveyard shift, but I had to get to Minister Mervyn Silva. Evil-doers had cast a fiendish spell and he had just promulgated his impending suicide. His has been a monumental crusade for the oppressed, goats including. I raced towards Kelaniya. Just then the phone rang. His young son Malaka had, ...
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 ...
Reuters: Germany’s Constitutional Court gave a green light on Wednesday for the country to ratify the euro zone’s new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund. The eagerly awaited verdict boosted global stocks and the euro currency as investors ...
The statistics by Bloomberg yesterday showed that the Colombo Stock Exchange (CSE) had become the third best performing market in the world during the period from August 10, 2012 to September 10, 2012.
The Colombo Bourse bounced back sharply yesterday, energised by a fresh round of buying interest in both blue chips as well as second tier stocks. The manner in which the Colombo Stock Exchange has been behaving of late – continuous foreign and institutional buying on blue chips and active play by retailers on low-value stocks ...
By Uditha Jayasinghe The Opposition yesterday called on the Government to promote economic good governance and complete investigations into the controversial deal between National Savings Bank (NSB) and The Finance Company (TFC). UNP MP and top economist Dr. Harsha de Silva at a press conference criticised the Government’s handling of the economy and insisted that ...
The Central Bank yesterday said earnings from tourism and workers’ remittances continued to hold up, cushioning the current account of the Balance of Payments (BOP). It said earnings from tourism in July 2012 grew by 23.6%, year-on-year, to $ 100 million, while during the first seven months of 2012, earnings from tourism have grown at ...
Continuing its growth momentum, Orient Finance PLC added yet another milestone with the opening of its doors to the acceptance of fixed deposits. This is subsequent to the company being licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 as a Finance Company. ...
“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 ...
The Colombo Stock Exchange (CSE) is set to launch one of its numerous initiatives to promote an island wide investor awareness program. This will include investor days followed by education workshops throughout the island. The principal focus of the program is to educate the general public on the investment opportunities available at the CSE. As ...
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 ...
Reuters: Natural rubber futures in India are likely to rise this week tracking gains in the overseas markets and on lower supplies in local spot markets as farmers hold back stocks expecting a further rise in prices. On Tuesday, the key October rubber contract on India’s National Multi Commodity Exchange provisionally ended 1.3 percent higher ...
On Friday (7) afternoon, the eve of provincial council elections in three provinces, a certain gathering took place at 101, Rosmead Place, which houses the corporate offices of Democratic National Alliance (DNA) National List Parliamentarian, Tiran Alles. Consultations that lasted for hours, took place between Alles and UNP Deputy Leader Sajith Premadasa and a few ...
In the last 15 years, the major hospitals invested over Rs. 50 billion by way of total expenditure to increase capacity building within the private healthcare sector by investing in necessary infrastructure, cutting edge technology and continuous development in human capital in the clinical discipline. The centres have created several hundreds of employment opportunities with ...
SINGAPORE (Reuters): Tyre makers snapped up rubber for nearby shipment before prices rise again on expectations of more stimulus measures from the U.S. Federal Reserve, dealers said, although there are some concerns about rising inventories in main consumer China. Tyre grades from Thailand, Indonesia and Malaysia for October/November delivery were sold overnight at between $2.63 ...
Over 10 new deals to be signed between China and Sri Lanka next week Impending visit of the most high profile in history, biz team included but no opposition meetings scheduled By Uditha Jayasinghe Over 10 agreements are to be signed during top Chinese legislator Wu Bangguo’s visit to Sri Lanka that will kick off ...
10-day rally checkmated by profit taking on Rs. 2 b turnover; buying returns at tail-end Retailers, who staged a dramatic bull run in recent weeks, propelling indices to rise by over 10%, yesterday took what one broker described as a “well-deserved breather” as profit taking ruled the Colombo Bourse. The ASI after a momentary rise ...
Reflecting his bullishness on post-war rebound in tourism, former Delmege Chairman Ricky Mendis yesterday bought an 8% stake in Serendib Hotels Plc for around Rs. 142 million from Royal Ceramics Plc and its high net worth investor Managing Director Nimal Perera. In total 6.7 million shares of Serendib Hotels transacted via 312 trades for Rs. ...
The Tokyo Stock Exchange (TSE), which is the third largest equity/stock market in the world with a total market capitalisation of US$ 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 ...
Whilst locals took profit, foreigners stepped up their buying yesterday, bringing the year-to-date net inflow to over Rs. 29 billion, an all time record. Rs. 334.5 million worth of shares were bought whilst selling was only Rs. 86.6 million, resulting in a net inflow of Rs. 248 million. According to Softlogic Stockbrokers, the year-to-date net ...
Sri Lanka’s diamond-swallowing story took an surprising turn Tuesday as police revealed the 1.5 carat stone gulped by Chou Wan, 32, at a gem show was fake, and that the real thief is still out there with the stolen precious stone valued at $13,000. Wan was taken to Colombo National Hospital on Saturday where X-rays ...
The Small Hydro Power Developers Association said yesterday that finally a transparent tariff setting process was in place for Non Conventional Renewable Energy (NCRE). It particularly appreciated the initiative taken by the Public Utilities Commission in inviting stakeholders and the public to give views and critic the parameters and the tariff setting policy. Previously it was ...