With the recent relaxing of the rupee exchange rate and subsequent increase in fuel prices, trade unions and the opposition parties are conducting protest campaigns against the Government, demanding a reduction in oil prices and the cost of living. This article investigates the living conditions of citizens in the recent past and present, quality and ...

Travel and tourism is set for a milestone year as the industry’s direct contribution to the global economy is expected to pass $2 trillion in GDP and 100 million jobs. According to research by the World Travel and Tourism Council (WTTC), the global travel and tourism industry will grow by 2.8

NDB‘s contribution to infrastructure development has been substantial during the last three decades. Having garnered the experience and expertise to cater towards the development process in Sri Lanka, NDB continues to focus on this vital component providing the necessary support that will help towards economic development in the country. NDB CEO Russell de Mel says, ...

Unity is strength: Let us unite as a nation and a group of likeminded nations in the world Sri Lanka is a senior member Sri Lanka is a senior member of the world family, maintaining high standards of human rights on international standards, which is not an alien system to us. Our culture is based ...

Oman Air, the national airline of the Sultanate of Oman, announced its successful participation at the ITB Berlin which concluded recently. Guests from the travel trade, media and general public, visited the Oman Air stall at the ITB. Showcasing its multi-award-winning products and services, Oman Air hosted a range of events at its spectacular stand ...

Reuters: Sri Lanka's tea production edged down 0.6 percent in February due to high base in the same month last year, the state-run tea board said on Wednesday. Sri Lanka's February tea output was 21.98 million kg compared to 22.13 million kg in February 2011. The production in the first two months has increased 4.7 ...

WASHINGTON (Reuters): More foreign tourists than ever came to the United States last year, and they spent a record amount along the way, the Commerce Department said on Wednesday. The number of foreign tourists hit a record 62 million last year, up 4 percent from 2010, the department said in a statement. Foreign visitors spent ...

The one billion international tourists expected to travel this year are a vital force for economic growth and social welfare according to the UNWTO Secretary-General, Taleb Rifai.  “By the end of 2012, one seventh of the world’s population will have crossed international borders as tourists in a single year,” said Rifai in his keynote speech ...

Parliamentarian Namal Rajapaksa was an invitee panellist at the prestigious India Today Conclave 2012 held in New Delhi from 16-17 March 2012. The India Today Conclave, which is held annually, has seen the participation of leading Indian and international personalities such as Shah Rukh Khan, Mohamed El Baradei, Sarah Palin, Dominique De Villepin, Union Minister ...

The STING Corporate Accountability Index is an independently researched analysis of the standing of corporate Sri Lanka against a model of responsible business practices. It is published in order to encourage more companies to adopt a holistic system of corporate responsibility. The adoption of such a system and making this the usual way of operating, ...

The entry in to Sri Lanka by Malaysia’s sovereign wealth fund Khazanah Nasional Berhad via John Keells Holdings (JKH) is being hailed as a all round boost for the country, the Colombo stock market as well as the premier blue chip. JKH which has many first to its credit is also the first stock on ...

Today is 19 March 2012. The day and the month of March are significant in the lives of many people – some celebrating birthdays, some wedding anniversaries, while others nurse what is yet left over from the hangover of the three day drawn encounter that we experienced a week ago or the limited over Royal ...

Emirates, one of the world’s fastest growing airlines, will boost its operations in Italy this October as the airline adds a third daily flight to Rome. This will take the total number of flights offered to Italy to 56 a week. Starting 1 October, EK 099 will leave Dubai at 0315hrs and will arrive in ...

Cabinet has approved a Rs.11.2 billion infrastructure project funded by France for the former war-torn Eastern Province, a Minister said yesterday. Acting Cabinet Spokesman Minister Lakshman Yapa Abeywardana told the media that the project would fund much-needed infrastructure for the town of Trincomalee in the Eastern Province. The money would also be used to upgrade ...

By Cheranka Mendis Despite the Central Bank’s forecast reading 7.2% growth for 2012, RAM Ratings Lanka CEO Adrian Perera is confident that the country can touch the 7.5%-7.6% mark by the end of the year. Perera told the Daily FT that the new projection is a realistic number from the 8% noted at the beginning ...

My column today is an attempt to focus our attention on a few less spoken or untold developments that may have a profound influence on how we carve our way through in creating a desirable social, economic and political future for mankind on this only planet of ours. While I will not specifically touch on ...

MANILA, PHILIPPINES: Economic growth in the Pacific region is expected to slow to 6.0% in 2012 from 7.0% in 2011, according to the latest Pacific Economic Monitor released yesterday by the Asian Development Bank (ADB). The slowdown is driven by lower growth in large resource-exporting economies that dominate regional growth. The Pacific region continues to ...

As the world decides vote on Sri Lanka on the methods used on the eradication of terrorism in the country, my mind goes back to the December 2008 when three of us were organising the staging of the first Industrial Exhibition in Jaffna so that the north gets connected to south on an economic front. ...

It is pleasant to lead a peaceful life with no encumbrances and without debts. In the modern world, debt has become a part of life like breath. In Sri Lankan society, it has not been the case and the practice before. It has been a burden and a commitment for somebody to live in a ...

Etihad Airways, the national airline of the UAE, has commenced scheduled flights between its hub in Abu Dhabi and Shanghai, China. The airline will initially operate five weekly Airbus A330-300 services to Shanghai’s main international airport – Pudong (PVG) – with commitments to a daily schedule from 15 April. James Hogan, President and Chief Executive ...

Janashakthi Insurance PLC, Sri Lanka’s third biggest insurer, posted a total income of Rs. 7.27 billion rupees, while total Gross Written Premium income rose 16.0 per cent to Rs. 7.13 billion for the year- ending December 31, 2011, the best ever performance of the company. Non-life insurance business rose 18.0 per cent to Rs. 5.256 ...

the economy and achieve the country’s development objectives such as creation ...

Over the weekend I met up with a cross section of business people, which gave me view of the current climate that exists in corporate world of Sri Lanka. One said that their production plant was closed last week as the cost of production was higher than the selling price given the devaluation of the ...

Scanning through the papers recently after the Central Bank of Sri Lanka published its 2011 external sector performance report, I was reminded of a pithy observation made by William W. Watt: “Do not put your faith in what statistics say until you have carefully considered what they do not say.” Some of the data were ...

Emirates is to upgrade its Amsterdam service to an A380 from 1 August. Since launching passenger flights to the Netherlands in May 2010, the route has been operated with a combination of Boeing 777-300ER and 777-200LR aircraft, arranged in a three-class configuration. Following 18 months of strong demand, the Boeings will be replaced with the ...

’s economy. One of Sri Lanka’s award-winning marketers and former ...

By Cheranka Mendis Gathered to discuss the implications, opportunities and challenges of the sudden announcement and introduction of the Government’s new policies, the export community was advised by a panel of experts to watch ahead, be prepared and make their own judgments from the information provided. With the country facing no immediate risks of getting ...

In the latest UNWTO report, it is stated that tourism has become one of the world’s largest foreign exchange earners with the industry catapulting to US$ 900 billion and visitor numbers crossing 980 million visitors globally.The growth has been ignited with the launch of e-commerce where a holiday can be booked and paid for from ...

DUBAI: The value of trade between the UAE and Sri Lanka has increased from $720 million to $1.1 billion in 2011, officials said. MM Abdul Raheem, Consul General of Sri Lanka in Dubai, said that Sri Lanka’s total export to the world has increased its values from $7,122 million in 2009 to $10,017 million in ...

Shangri-La Hotels and Resorts yesterday broke ground for its first ever hotel project in Sri Lanka, the US$ 550 million Shangri-La Colombo, on a land overlooking the Galle Face Green promenade. This was followed by the ground breaking ceremony for their US$ 150 million Hambantota Resort and Spa in the Sirakala Estate in Hambantota today. ...