Rubber production falters; Minister calls for crisis forum

Sri Lanka’s Plantation Minister Mahinda Samarasinghe has called for a special stakeholder forum to discuss the present crisis situation faced by the country’s rubber sector originating from lower demand at the international market place.

Asian shares mixed, China data provides lift

Asian markets were mixed yesterday, following a Wall Street sell-off, as oil prices hit a nine-month high on concerns about the growing crisis in Iraq but Hong Kong and Shanghai reversed morning losses following upbeat Chinese data.

Is entrepreneurship recognized and rewarded in Sri Lanka?

There’s something about innovation and entrepreneurship that goes hand-in-hand. While inventions on their own are fine, if they are not tied to fulfilling a practical need, the invention is likely to lie idle. In Sri Lanka, we see many inventors whose stories hit media often.

Sideways move continues with strong foreign buying

Foreign money seems to be flowing into the Colombo Stock Exchange (CSE) listed equities with Rs.3.1 billion worth of shares been bought by overseas investors month to-date in June, while the net foreign purchases thus far for the month was Rs. 2.6 billion.

Proposed Holcim-Lafarge merger: Holcim CEO sees no impact on Lankan operations

The proposed merger between cement majors Holcim and Lafarge is unlikely to have any negative implication on Holcim’s Sri Lankan operations, as the country remains a “strategic market”, a top Holcim official said.

Aitken Spence in US $ 25mn Indian hotel acquisition

Leading leisure sector operator Aitken Spence PLC said it purchased a brand-new five-star hotel with 143 rooms in Chennai for a consideration of US $ 25 million. The acquisition has been carried out through Aitken Spence Hotel Managements (South India) Private Limited.

Leading Sri Lankan mobile operators launch GSMA mobile connect trial

The GSMA today announced that leading Sri Lankan operators Dialog Axiata and Mobitel will launch a beta trial of the GSMA Mobile Connect service that will allow consumers to conveniently, securely and consistently access a wide array of digital services by using their smartphones and feature phones as devices for authentication.

Problem with plantations

“Plantations are not forests” is a phrase that has been around for many years, but that does not mean that tree plantations are neither good nor bad in them. The benefits or threats of plantations depend on their scale, their objective, the trees planted and the natural and..........

New tank farm, bunkering terminal facilities to open at H’tota port

The new tank farm complex and the bunkering terminal of the Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) in Hambantota is set to be opened on June 22 by President Mahinda Rjapaksa, a media statement by the Sri Lanka Ports Authority (SLPA) said.

CEAT Kelani opens high-tech radial plant

A milestone was achieved yesterday in the manufacture of tyres in Sri Lanka with the official inauguration of a new hi-tech production facility for radial tyres for passenger cars and Sports Utility Vehicles (SUVs) at CEAT Kelani Holdings, the country’s leading tyre maker.

Tourism sector hit by marketing, resource snags

Some core challenges continue to pose threats to the future viability of Sri Lanka’s tourism industry despite positive changes which have brought new opportunities, head of a leading leisure group said.

The Spirit and Charm of the Galle Face Hotel

The Bard of Avon once wrote that “A rose by any other name would smell as sweet”. The Galle Face Hotel for almost a century and a half has been known by many names.

Implications of Modi’s victory for Indo-Sri Lanka relations

The outcome of LokSabha (lower house of the Indian Parliament) elections on May 16th was unexpected and unprecedented over the last three decades.The outcome of LokSabha (lower house of the Indian Parliament) elections on May 16th was unexpected and......

Middle East investors see SL ‘fertile’ for entry: MTI

The Middle East investors, particularly in the six Gulf States, are increasingly positive about entering and investing into Sri Lanka, according to MTI’s ‘Market Pulse’.

Hutch & Janashakthi brings Accident & Life Cover for as low as Rs.50 per month

Hutch is pleased to announce it has entered in to a partnership with the leading Sri Lankan insurer Janashakthi Insurance to provide more affordable and convenient insurance cover for their subscribers for as low as Rs. 50/- a month

Situational leadership for productivity through people

We saw last week how the two management gurus, Ken Blanchard and Paul Hersey interpreted their secret to success of leadership. Through their popular theory called situational leadership, they advise managers that there is no best style of leadership.

Stock-picking strategies

Aside from having a general understanding of what a company does, you should analyse the characteristics of its industry, such as its growth potential. A mediocre company in a great industry can provide a solid return, while a mediocre company in a poor industry......

Aitken Spence’s B’desh power sector hopes shrink

Aitken Spence PLC, which has interests in hotels, shipping, power and plantations has exited from a proposed thermal power project in Bangladesh with authorities failing to provide suitable land for the plant. However discussions continue in relation to the second project.

Citrus Waskaduwa introduces Seafood Brunch for the Most Important Man in Your Life…

Waskaduwa, June 7th 2014: Each year on the third Sunday in June the world celebrates the day dedicated to the most important man in your life. This year on Sunday 15th June, Citrus Waskaduwa introduces an extra special promotion for dads.

China calls SA biz experts to promote new silk route

At the launch of the second China- South Asia Expo in Kungmin, China announced its strategy of implementing ‘Silk Road Economic Belt and 21st Century Maritime Silk Road, facilitating scientific and technological co-operation with South Asian nations such as Sri Lanka.

ALL Hands Together : Project Initiated by the Rotaract Club of University of Sri Jayawardenepura

The Rotaract Club of University of Sri Jayawardenepura is a club that actively engages in a variety of community service and professional development projects. The most recent project was on the 1st of June. This project “ALL Hands Together” was to take differently-abled kids of the Sevana Children’s Home (Kotte) on a field trip to Galle.

Does your success define you?

There’s something about success that doesn’t hinge right for some. While achieving success is expected in today’s competitive world, once it is indeed achieved, how do you define it – are you an extension of your success or vice versa?

How and where to spend your training money?

Recently, at a senior executive forum, a CEO asked me to share my experiences of how companies measure the return on investment of their training and development spend. To begin, training is basically the formal activity that generally occurs in a classroom or....

Analysis of nutrient management system in rubber plantations

Until the early 1960s, it was generally accepted that fertilisers were essential for immature rubber, whereas for mature rubber, fertiliser applications were given on an insurance basis. The large variability in yield responses was a major contributing factor in the reluctance to....

Court orders Touchwood winding up

The Commercial High Court yesterday ordered the winding up of Touchwood Investments PLC, for which purpose a liquidator is to be appointed by July 14, to control the assets of the company and dispose them to pay investor dues.

Emerging markets should be prepared for Fed tightening

Central Bank Governor Ajith Nivard Cabraal said he would not expect the US Federal Reserve to take account of its actions on developing economies when time comes for the end of quantitative easing and every emerging market should be prepared for Fed tightening.

CEAT to officially open Rs.600mn radial tyre plant next week

CEAT Kelani Holdings, a joint venture between India’s RPG Group and Sri Lanka’s Kelani Tyre, is scheduled t o officially open a Rs.600 million passenger car radial tyre production facility next week, with the aegis of Economic Development Minister Basil Rajapaksa.

An innovative framework for global climate policy beyond 2015

With the approach of the World Environment Day today (June 5, 2014) much attention is focussed on climate change and its impact on developing countries due to the release of CO2 to the atmosphere with rapid economic development.

Who will own the world in 2050?

“Will the world in 2050 be owned by traders and the super-rich or will it belong to the oil and gas producing countries or Bank of China? questions Thomas Piketty, author of the famous book (2013) ‘Capital in the Twenty-First century’.

Low phosphate output likely to trigger fertilizer shortage

The major fertilizer manufacturing companies in Sri Lanka are currently facing an acute shortage of rock phosphate, a key ingredient used in the manufacturing of fertilizers for tea, rubber and coconut, the industry sources said.