In an exclusive interview with the Daily FT, Keells Hotel Management Services Head of Eco Tourism and Special Projects Chitral Jayatilake said that over the years, Yala has progressed from being a great place to go on safari to a great place to see leopards. According to Jayatilake, the transition took place over the last ...

By Cheranka Mendis  Godrej Locks will launch an aggressive three year marketing and expansion road map in April 2012 in a bid to expand its global footprint with Sri Lanka at the forefront. Godrej Locks, the number on locks in India yesterday announced a partnership with Abans Group to promote and market the brand’s globally ...

By Cassandra Mascarenhas Market experts last week declared that the stock market has corrected itself enough and that it is now a good time for investors to buy. This assessment was made at an interactive forum titled ‘Share Market Volatility – Causes and Remedies’ organised by the Institute of Chartered Corporate Secretaries of Sri Lanka ...

In the midst of the volatility and speculation currently shrouding the Colombo Stock Exchange, the Institute of Chartered Corporate Secretaries of Sri Lanka in partnership with the Daily FT organised a seminar titled ‘Share Market Volatility – Causes and Remedies,’ which featured

By Devin Jayasundera Siedles (Pvt) Ltd. in its attempt to expand the Sony customer base in Sri Lanka and to provide a world class service to its cutomers launched a state-of-the-art Sony showroom at 150/3, Ward Place, Colombo 7 last week. The flagship Sony showroom equipped with the latest modern designs and sleek interior is ...

By Cheranka Mendis The tourism industry yesterday welcomed the reduction in the online visa processing fee from the initial US$ 50 flat rate for every country, giving into the concerns and objections of industry stakeholders. The scheme, scheduled to be in effect from January 2012, will now charge US$ 10 from travellers from South Asian ...

Pelwatte Sugar Industries Plc said yesterday that it was awaiting instructions on the way forward from Secretary to the Treasury following the Parliament passing the Revival of Underperforming Enterprises and Underutilised Assets on Wednesday. “At this moment we are unable to comment on the implications on the ruling as we await instructions by the Secretary ...

By Cheranka Mendis Chairman and founding member of CSR Asia, Richard Welford was in Sri Lanka for a hands on two day training course titled ‘Embedding global compact and sustainability in to your organisation’. Organised by UN ESCAP, Global Compact Network Ceylon and The Global Compact Regional Support Centre Asia Pacific, the course was taken ...

The Institute of Internal Auditors Sri Lanka (IIASL), at its Fourth National Conference scheduled for 15 November at Kings Court Cinnamon Lakeside will deliberate on some of the “big questions” currently facing internal auditors today. This is in line with this year’s theme: “Strategies for Internal Audit Excellence.” IIASL President Dharshana De Silva stated that ...

By Devin Jayasundera EPSI iStore – Sri Lanka’s only digital store which is especially dedicated for world renowned Apple products launched operations on Wednesday. EPSI Computers Ltd a leading IT company has been appointed as an authorised re-seller for Apple products in Sri Lanka.   The state of the art Apple showroom caters toward all ...

Deepal V. Perera reporting from St. Kitts Hambantota Bid Co-Chairman Ajith N. Cabraal is cautiously optimistic that delegates of the Commonwealth Games Federation annual assembly will vote through Sri Lanka to host 2018 contest in Hambantota. Hambantota Bid Co-Chairman Ajith N. Cabraal with CEO Nalin Attygalle at a briefing. Pic by Deepal V Perera He ...

All of the Commonwealth will today focus on the crucial vote for the host of 2018 Commonwealth Games with Sri Lankan contingent publicly and personally upbeat about candidate city Hambantota’s chances. Sri Lanka’s spirited southern port city Hambantota and Australia’s Gold Coast need minimum 36 votes out of 71 Commonwealth Games Associations at the CGF ...

The Institute of Chartered Corporate Secretaries of Sri Lanka and the Daily FT have brought together an expert panel of speakers to examine the state of the share market. Aptly titled ‘Share market volatility – Causes and Remedies’ the power-packed seminar will be held

The Institute of Chartered Corporate Secretaries of Sri Lanka and the Daily FT have brought together an expert panel of speakers to examine the state of the share market. Aptly titled ‘Share market volatility – Causes and Remedies’ the power-packed seminar will be held tomorrow

As Asia Asset Finance Ltd (AAFL) opens its Rs. 425 million Initial Public Offering (IPO) on 28 November the company forecasts that it will grow Net Profits by 20 per cent going forward. The company plans to expand their branch network from 10 to 19 before the end of year 2012, mainly in the North ...

 Submits proposals; Secures several assurances at meeting with President and team Govt. remains firms on Bill The country’s private sector in a welcome united move, has succeeded in securing some assurances over the upcoming Expropriation Bill from the Government, which however remains stubborn in not withdrawing the contentious new piece of legislation. Leading chambers of ...

The American Center in Colombo held its ‘Open Mike Competitive Poetry Slam’ at the American Center Auditorium on 27 October. Introduced for the first time in Sri Lanka, the ‘Poetry Slam’ called out to poets, spoken word stars, rappers and performance artistes. With an award for the best performer and free entrance, the event drew ...

By Dinali Goonewardene Asian Asset Finance will be offering 120 million shares to raise Rs.425.4 million in an Initial Public Offering due to open on 28 November. The IPO will be priced at Rs. 2.50 per share with the option to sell a further 50 million shares. “The funds will be used to expand the ...

This is the seventh article in the Daily FT’s fortnightly series titled ‘Business of Sports,’ focusing on the back office of the various sports administered and played in this country. Readers are invited to share their views and express their opinion via email to editor@ft.lk

nUNP, TNA express opposition; Govt. to go ahead by tabling the Bill in Parliament next week The contentious Takeover Bill on underperforming State enterprises and underutilised assets had come under fire by the Opposition at the Party Leaders meeting yesterday in Parliament. At the meeting, representatives of the UNP and TNA have vehemently opposed the ...

UNP MP Dr. Harsha de Silva, activist Chandra Jayaratne express concern; other analysts welcome Bill Colombo Hilton owning firm Hotel Developers sole enterprise; rest all lands majority of which are of defunct BOI-approved enterprises; listed Pelwatte Sugar Industries land inclusion a surprise Criticism is mounting over the urgent bill on takeover of underperforming enterprises and ...

I still remember the thoughts that crossed my mind on the day that Harvard University announced the top 50 candidates for the 2011 Global Leaders in Development forum. The excitement was high, but then again the commitment to me personally in Sri Lanka made it a catch 22 decision. The decision was tougher, given that ...

The courage the Government has demonstrated in cancelling the CATIC deal and yet feeling secure, rather than embarrassed by it, must be recognised. It is a responsible step, a prudent decision, which will have enduring benefit both in terms of national policy and FDI strategy. This step will also earn the respect of the indigenous ...

By Cheranka Mendis The rubber industry is opposing a planned hike in cess on exports as the sector is amidst uncertainty owing to volatility in global markets. Adverse implication against the move mooted by rubber products manufacturers had been communicated to Prime Minister D.M. Jayaratne last week. “Last Thursday a delegation met him (Premier) to ...

The UNP yesterday welcomed the Government’s decision to cancel the Galle Face project with CATIC, a move which the main Opposition party lobbied for as it lacked transparency, among other issues. “We are glad to note that our relentless campaign to reverse this absolutely shady deal to sell Sri Lanka’s most valuable property to a ...

Daily FT, Sri Lanka’s first and only dedicated business newspaper, has just completed a major strategy review and strategic directional planning with MTI Consulting. “Within just two years, the Daily FT has proved to be the main source of business news for Sri Lanka’s corporate

Govt. exploring other options in lieu of advance paid by Chinese state-owned firm; promoting city’s prime land space to other prospective investors By Cheranka Mendis The US$ 500 million China Aviation Technology Import-Export Corporation (CATIC) investment to build the CATIC Grant Skyline Hotel and Rainbow Multifunctional Complex on Galle Face land has been called off, ...

Recently the Daily FT reported that the Board of Blue Diamonds Jewellery Worldwide Plc was getting richer with Managing Directors and if that wasn’t enough, the company last week announced more additions – bringing the total number of Directors to a high 15. The latest appointments

Securities and Exchange Commission (SEC) Chairperson Indrani Sugathadasa on Saturday used religion to bring some sanity to the capital market, currently marred by allegations of greed and power. Before concluding her speech at the ceremonial opening of the SEC-organised Investment Day 2011 at the Sri Lanka Exhibition and Convention Centre, Sugathadasa, quoting Lord Buddha, said: ...

Amidst woes in US and European markets, Sri Lanka’s apparel sector has survived to grow with the outlook for the next few quarters remaining positive, industry sources told the Daily FT yesterday. Whilst July saw earnings from textiles and garments increase year on year by 5% to US$ 385