Despite being a regional leader in enforcing standards, Sri Lanka still has a long way to go before reaping the full benefits of having its exports globally accepted. Studies have shown that a country can add as much as 1% to its GDP by proscribing to international standards. Daily FT met

Analysts upbeat new valuation will spur fresh buyingProving Daily FT’s concerns right, the Colombo stock market yesterday crashed to its lowest level in 2011, but a chorus is growing that new valuation will spur a fresh round of buying with some already collecting available quantities

The Daily FT, the country’s only daily business paper, is spearheading a unique private-public sector forum aimed at shaping the thinking and policies ahead of the presentation of the Government’s 2012 Budget. The forum titled ‘Speak Up Before the 2012 Budget’ tomorrow

Eight new products launched and more to come in the pipelineBy Cheranka Mendis A leading player in the local smartphone industry, Sony Ericsson yesterday launched eight new phones to the Sri Lankan market hoping to establish itself as the leader in android segment in the country within the next few years. Gearing to tackle the ...

By Cheranka Mendis Hayleys Group on friday introduced the latest airline to enter the Sri Lankan skies, Ukrainian airline AeroSvit, which has been brought into Sri Lanka on an investment of US$ 65,000 (approximately Rs. 7. 16 million). The airline, acknowledged as the largest in Ukraine, will operate on a point-to-point non-stop basis to Colombo ...

Ganesan calls for grand opposition alliance Leader of the Democratic People’s Front (DPF) Mano Ganesan is once again in the limelight of country’s political scene, following his impressive performance at the recently-concluded local authority elections. Ganesan told the Daily FT

Growth assets are a good investment in the current climate Felix Stephen is the Manager Investment Strategy and Research at Advance Asset Management Ltd., Sydney, aapart of Westpac, which is one of the big four banks in Australia. He spoke to the Daily FT about the global economy and investment

By Cheranka Mendis Sri Lanka’s tea industry has been battered and beaten by the weather gods this year and is now looking at lower production volumes and low auction prices despite early expectations of the year continuing the trend of 2010, which ended off as a record year for the industry. Colombo Tea Brokers’ Association ...

Way to wow the world? Issuer of Rs. 7 b biggest post-war IPO People’s Leasing confident of success midst challenges Says pricing attractive with good upside, robust leasing industry growing at double digit Preferential allocation for foreigners; strong appetite following road shows in Singapore, Hong Kong; next stop is three cities in India; managers believe ...

By Cheranka Mendis The Cabinet-approved online visa system which will come into effect from January 2012 may hinder the arrivals from the country’s main tourism markets with the high levy of Electronic Travel Authorisation (ETA) that will be set on all inbound tourists. With India and UK being Sri Lanka’s prime tourist markets bringing in ...

By Chamitha Kuruppu HEALTH Minister Maithripala Sirisena on Tuesday dissolved the management of the Sri Jayawardenapura Teaching Hospital with immediate effect. The hospital is to function under an interim board until a new director board is appointed next week. Speaking to Daily FT Deputy Health

Microsoft is determined to continue its lawful mission of protecting consumers from the risks of counterfeit/pirated software. In a report carried in the Daily FT recently, it was stated that the Commercial High Court of Colombo refused to grant an interim injunction sought by Microsoft to prevent

For representing some of his victimised members at a media briefing on Wednesday the chief of the Eksath Velanda Sangamaya of the Nugegoda Janatha Pola has been mercilessly and undemocratically shut out from his livelihood. UNP MP Dr. Harsha de Silva yesterday alleged that the head of the traders’ union P.W. Pathirana had originally received ...

NIMS University India has launched its MBA in Sri Lanka following the establishment of its Sri Lanka Campus in July 2011. It is an MBA conforming to international standards with 18 taught modules over a two year period. It is delivered by an unmatched panel of lecturers including both academics and industry practitioners. This quality ...

By Cheranka Mendis Classic Travel (Pvt) Limited early this week partnered with the holiday division of Thai Airways International, Royal Orchid Holidays who promises to ‘provide unmatched experiences to the Sri Lankan holiday maker.’ The agreement appoints Classic Travel as an agent for Royal Orchid Holidays. Chief Executive Officer Classic Travel Suresh Mendis speaking to ...

of the municipality on an election extravaganza. In a candid interview with the Daily FT, the ...

Amidst crises in the region, Sri Lanka remains the star for both stock market and tourism sector performance in Asia. As reported in the Daily FT on Monday, the Colombo Stock Exchange remains Asia’s best performing frontier market with an over 2% year to date growth. This is in contrast

By Uditha Jayasinghe Brewed by external demand reductions and local policies, Sri Lanka’s value-added tea exports are declining while bulk shipments are increasing, resulting in a possible drop in earnings, industry experts warned yesterday.  Terming the reduction in value-added tea as a “disturbing trend,” Asia Siyaka Commodities said in a review report that Sri Lanka’...

By Cheranka Mendis People’s Leasing, the undisputed market leader in the industry for nine years, is going for a record profit this year having achieved a profit of Rs. 2.2 billion within the first five months of the year. CEO of People’s Leasing D.P. Kumarage told the Daily FT

 By Cheranka Mendis A three-day tourism awareness event organised by Wayamba Development Authority comes to an end today, having attracted more than 200 people from the area on the first two days. The event, held in conjunction with World Tourism Day celebrations, took the same line as the global theme of ‘Linking Cultures’ and presented ...

Top professional Aravinda Perera has been appointed as the Managing Director of Sampath Bank with effect from 1 January 2012. The appointment was made by the Board of Directors of Sampath Bank at its meeting last week, following the incumbent Harris Premaratne opting to leave at the end of his contract at Sampath Bank by ...

Gives quit notice as MD at Sampath Bank, to take up new post from 1 January Proven industry leader Harris Premaratane is to head the country’s newest entrant to the financial services sector, Cargills Agriculture and Commercial Bank, from 1 January 2012. The move follows Premaratne giving quit notice to Sampath Bank yesterday from his ...

By Uditha Jayasinghe Reeled by the overall crisis in the Middle East, the country’s tea industry has got a fresh jolt with Syria banning imports in value added form though the Government is cautioning undue panic was unwarranted. As part of a national policy Syria has banned all imports carrying a tariff of over 5% ...

A B Mauri Lanka held a ceremony to welcome the Group Human  Resources Director of its parent company Associated British Foods who was on a brief visit to Sri Lanka as a part of his Asian tour. Associated British Foods is a food ingredient and retail group which is quoted on the London Stock Exchange ...

IOS says that SL can take local benchmarks to the world to grow exportsBy Uditha Jayasinghe Sri Lanka’s attempt to broaden its presence in international markets must be led with its adherence to international standards and best practices, says an international expert. The International Organisation for Standardisation (IOS) Secretary General Rob Steele told the Daily ...

By Cassandra Mascarenhas Professional Edge Consulting, a Canadian company based in Ottawa headed by young Sri Lankan entrepreneur Praveeni Perera is set to commence its entry onto a global platform in Sri Lanka with the launch of ‘Manners in Management’, a two-day conference in business etiquette to be held in March 2012. The company offers ...

Industry expects modest growth but no boom expectationsby Cheranka Mendis The tourism industry is looking at a 10-15% increase during the coming winter season although there will be no sell-out as earlier expected, according to industry experts. The season, which usually amounts to the highest number of arrivals each year, was initially expected to bring ...

President seeks legal advice; Major General has 21 days to respond By Nisthar Cassim in New York Sri Lanka’s Deputy Permanent Representative in the United Nations Major General Shavendra Silva yesterday said he was prepared to face any international court for the sake of Sri Lanka and defend the country. He had been served summons ...

Says business environment needs to improve, seventh review to be concluded in December By Deepal V. Perera in Washington DC The International Monetary Fund (IMF) yesterday stated that in the face of the global downturn, the performance of the Sri Lankan economy has been impressive. “The Sri Lankan economy suffered a lot during the conflict ...

By Nisthar Cassim in New York President Mahinda Rajapaksa described his engagement with the United Nations member countries last week as very successful for him personally and Sri Lanka at large. “I am very happy with the visit as it was very productive and through our discussions we were able to portray the true picture,” ...