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Qatar Airways is planning to launch scheduled flights to Gassim, in the Kingdom of Saudi Arabia, on 7 January 2013. Gassim will become Qatar Airways’ fifth destination in the Kingdom, where it already serves Riyadh, Jeddah, Dammam and Medina. The Doha-based airline will operate four-flights-a-week to the central Saudi city of Gassim, offering travellers a ...
BEIJING (Reuters): China will provide subsidies worth $2.2 billion to buyers of energy-efficient computers and air-conditioners in the latest effort to stimulate domestic demand and encourage the use of environmentally friendly technology, Xinhua reported on Sunday. The one-year subsidy programme will cover purchases of desktop computers, air-conditioners, fans, water pumps, compressors and transf...
South Africa, Sri Lankaandrsquo;s leading trade partner in Sub-Saharan Africa and the third most competitive economy in the US$ 13.7 trillion BRICS grouping, is making an unprecedented investment foray in to resurgent Sri Lanka-with no less than US$ 122 million initial investment andndash
The 33rd National Conference of Chartered Accountants structured by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will be held from 18 to 20 October at Waters Edge under the theme ‘Winning: Country, Corporate, Citizen’. It will be a three-day conference with six technical sessions that will feature a panel of highly ...
Around 1,000 delegates in town for Commonwealth Parliamentary Conference and connected activities this week The entire Common-wealth is literally here as Sri Lanka plays host to the grouping’s annual gathering of Parliamentarians – this week, giving the country an excellent opportunity to be assessed firsthand as well as lift its profile globally. The 58th Annual ...
Country fourth fastest growing economy in the world, but Bourse is world’s third worst performer The dichotomy of Sri Lanka of being among the fastest growing emerging economies and worst performers when it comes to the stock market appears to be correcting, according to broking firm DNH
Says foreigners likely to flood capital markets Sri Lanka’s prospects of real economic growth for 2012E appear to be ahead of regional peer economies as well as that of world’s advanced nations, according to Asia Wealth Management. It said latest projections made by IMF indicate Sri Lanka’s expected growth of 6.75% for 2012E is considerably ...
South Africa, Sri Lanka’s leading trade partner in Sub-Saharan Africa and the third most competitive economy in the $ 13.7 trillion BRICS grouping, is making an unprecedented investment foray into resurgent Sri Lanka with no less than a $ 122 m initial investment –and is scheduling
Thai Airways International recently held a pre-launch reception to showcase its first Airbus A380-800 aircraft and new products and services. Thai Airways has configured all six of its A380s scheduled to join the fleet between this year and next with 507 seats in three classes: 12 in Royal First Class, 60 in Royal Silk Class, ...
Emirates contributed $1.15 b as Foreign Exchange Earnings to the economy Emirates operations support 72,323 jobs in India Expansion of an efficient civil aviation sector is important for India as it becomes increasingly linked to global commerce and tourism. The National Council of Applied
Incident could affect Madurai getting international connectivity: Trade bodies The Hindu: The recent tension over the presence of Sri Lankans in Tamil Nadu has caused trade bodies in southern districts worry over the prospects of international connectivity for Madurai as the first full-fledged international flight was scheduled from Colombo on 20 September. While not going ...
The International Air Transport Association (IATA) last week announced global traffic results for July showing slower growth in both air travel and freight, but with considerable variation by region and market. n July passenger demand in aggregate was 3.4% higher than the same month last year, compared to a 6.3% increase in June and average ...
2012 unlikely to match up to 2011 tea revenue; stakeholders’ voice uncertaintya By Cheranka Mendis The tea industry which brought in revenue of approximately US$ 675 million within the first six months of this year – US$ 50 million below the revenue collected in the same period in 2011 – is likely to fall short ...
The HSBC Youth Enterprise Awards (YEA) 2012 presented by the British Council was held at the Hilton Colombo amidst distinguished guests including Dr Sunil Nawaratne, Secretary, Higher Education Sri Lanka, Tony Reilly, Country Director British Council and Nick Nicolaou, Chief Executive Officer HSBC Sri Lanka and Maldives. Having been assessed through multiple rounds of workshops ...
Reuters: Asia-Pacific nations including China, the United States and Russia will promise measures to boost growth on Sunday and reject limits on food exports to try to revive the flagging global economy. Countries on the Pacific Rim were expected to end a two-day summit on an island off the Russian
A salutary reader interest on share market regulation A reader of the previous week’s My View titled ‘SEC: Not a mere watchdog, but a bloodhound mandated to bite’ has raised an important issue with this writer. He has asked the question why it is necessary to have a regulator to police the financial markets and ...
Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from the ...
Sri Lanka Telecom Mobitel has come forward as the Main Sponsor of the 20th Annual National Chamber of Export Awards to be held on 21 September this year. This is the seventh consecutive year that the National Mobile Service Provider will be supporting this endeavour of the NCE as its main sponsor, as they honour ...
Reuters: China has given the green light for 60 infrastructure projects worth more than $150 billion as it looks to energise an economy mired in its worst slowdown in three years, fuelling hopes the world’s growth engine may get a lift from the fourth quarter. Shares and steel futures jumped
Reuters: President Barack Obama asked Americans on Thursday for patience in rebuilding the weak economy as he appealed for a new term in office and defiantly rejected Republican Mitt Romney’s proposals for growth as heartless. Accepting the presidential nomination at the Democratic National
SINGAPORE (Reuters): Indonesia, the world’s second-largest rubber producer, will start cutting exports in the fourth quarter of this year, a senior industry official said, holding back around 100,000 tons of the commodity in a joint effort with Malaysia and Thailand to boost sagging prices. “Whether (export curbs) are going to last for six or three ...
By S.S. Selvanayagam The Supreme Court yesterday (6) ordered the Central Bank to file the Foreign Reserve Management Rules (Guidelines) to Court sequent to the Fundamental Rights violation petition challenging the investment on the controversial Greek bonds, which resulted in a loss of Rs. 2.14 billion of public funds to the State. The Deputy Solicitor ...
Wins two Presidential Travel and Tourism Awards SriLankan Airlines was named ‘Airline of the Year’ for the fourth consecutive year at the SriLankan Tourism Awards 2011, firmly emphasising the National Carrier’s pivotal role in the growth of Sri Lanka’s tourism industry. SriLankan Airlines is proud to serve as a pillar of strength to Sri Lanka’s ...
By Devin Jayasundera With the country’s Islamic banking still at a low penetration level, experts point out that with the strategic position that Sri Lanka occupies in the region, it should make forays into Islamic capital market to reap full benefits of this industry. Central Bank Governor Ajith Nivard Cabraal addressing the gathering KPMG’s Global ...
Reuters: Oil futures rose above $114 per barrel on Thursday, buoyed by expectations the European Central Bank will manage to ease its debt crisis with a new programme of bond purchases. Europe’s debt crisis and slowing global economic growth have fuelled worries about the demand outlook for commodities. Investors hope a new ECB bond-buying programme ...
Ceylon Tea Brokers Plc in the financial year ended on 31 March 2012 posted an income of Rs. 185.69 million, up from Rs. 157.5 million in FY11 whilst pre-tax profit improved to Rs. 63.3 million from Rs. 56.7 million. Total assets as at 31 March 2012 amounted to Rs. 933 million as against Rs. 788.7 ...
By Shanuka Tissera A very determined large business delegation from South Africa landed in Sri Lanka for a five-day tour, geared to heavily increase bilateral trade between the two countries. Exchanging of the MoU between Minister of Economic Development South Africa Prof. Hlengiwe Buhle Mkhize and Deputy Minister of Economic Development Sri Lanka Lakshman Yapa ...
GENEVA (Reuters): Unemployment among young people is likely to rise globally as the euro crisis hits emerging economies and more discouraged jobless youth drop out of the labour force altogether, the International Labour Organisation said on Tuesday. The ILO said jobless rates among people under 25 worldwide are expected to inch up to 12.9% by ...
SRI Lanka’s slide of 16 places in the Global Competitiveness Index will not come as a surprise to many, though it will act as a guide to pointing out the challenges still facing the economy. Last year when 10 places were gained, everyone was jubilant, with the Government and private sector
Results of the ICC-Ifo World Economic Survey, released recently, reveal declining optimism over global economic recovery as fear continues to spread about the unsolved debt crisis in Europe. The Survey, which received responses from 1,079 experts in 123 countries, showed that the world economic climate indicator fell to 85.1 in Q3 2012 after two successive ...