Sri Lanka tourism: What got us here, won’t get us there

In 2009, Sri Lanka’s tourist arrivals were a mere 447 thousand. By 2010 the arrivals increased almost 50 percent to 654 thousand. That number is estimated to have almost doubled by 2013 to almost 1.3 million. The current plans are for this number to double again by 2016 to 2.5 million.

CB keeps policy rates unchanged

The Monetary Board of Central Bank yesterday decided to keep the policy rates unchanged with government and state-corporations borrowing less, which in return has created a favourable environment for private credit to pick up, the Central Bank said.

Colombo District Scout hobby fair and exhibition

The Colombo District Branch of the Sri Lanka Scouts Association is celebrating 100 years this year. The 1st scout troop was established by Mr F G Stevenson in 2014 just two years after establishing the movement in Sri Lanka.

Palm oil imports rise as coconut oil output drops

A sharp decline in Sri Lanka’s coconut oil production in 2013 has resulted in significantly more palm oil imports, which is a close substitute for coconut oil, the 2013 Central Bank annual report showed.

Special ventures and promotions from findmyfare in Nuwara Eliya this holiday season

The comforting atmosphere and luxuriant green mountain peaks attract thousands of visitors to Nuwara Eliya especially during the month of April. Findmyfare.com Sri Lanka’s first and largest online travel company was a part of the excitement around the Gregory Lake in Nuwara Eliya  with a special social media promotion for the findmyfare Facebook fans as a special seasonal giveaway.

Fashion Bug powers 22nd Fox Hill Supercross

Fashion Bug, one of Sri Lanka’s leading retail clothing stores with over 17 outlets island-wide, stepped up as the principal sponsor and exclusive apparel partner in extending its support to the most popular and thrilling motor sports event Fox Hill Supercross 2014 which was held recently on 19th April.

360-degree feedback – Developing self-awareness among employees

In the 1990s, organisations started to change from highly structured pyramid-like hierarchies towards flatter and leaner shapes. The autocratic management styles that suited a pyramid structure won’t work in the modern organisation with its wide spans of control, high levels of self-management and a workforce that relies on....

Are you a responsible investor?

During the past few weeks we have addressed the need of educating yourself on the stock market prior to investing. An equally important factor is to manage your relationship with the stockbroker firm/investment advisor and refrain from unwanted disputes that could have an adverse impact on one’s portfolio.

Dialog Axiata to invest US $ 30mn on new submarine cable

Dialog Axiata PLC, a unit of Malaysia’s Axiata Group said, it will invest US $ 30 million on a new sub marine cable and has entered into an agreement with Bay of Bengal Gateway (BBG) Consortium to establish a Cable Landing Station in South Colombo (Mount Lavinia, off De Saram Road).

Sri Lanka among top 10 broadband countries

Sri Lanka has been rated among the top 10 broadband countries in terms of growth in 2013 by Broadband Forum, a leading non-profit telecom industry consortium dedicated to developing broadband network specifications.

March vehicle registrations up on Feb effect

Sri Lanka’s vehicle registrations in March rose 16 percent to 26,921 units over February, though the increase was mainly due to the less number of days and more holidays in February, according to a monthly analysis of vehicle registrations by research and stock brokerage firm, JB Securities Limited.

Conflicts among Sri Lanka’s health workers hurting patients

All health sector workers – doctors, nurses, midwives and other paramedics – share the responsibility for delivering good health services in government hospitals. Duties and roles of these professionals are intertwined. Health workers who are discharging duties in health facilities are the products of years of

Balancing short-term vs. long-term interest of workers

There were recent press reports that a number of trade unions have submitted proposals to the National Pay Commission requesting establishment of; 1. a national wages commission for the private sector, 2. a national minimum wage, 3. an unemployment benefit insurance scheme, 4. a pension scheme for the.....

Fashion Bug makes CSR effort towards public health

In its recent CSR activities, Fashion Bug, one of Sri Lanka’s leading retail clothing stores with over 17 outlets island-wide, refurbished the maternity ward at the Ragama-based Colombo North Teaching Hospital for the beneficial of its needy patients.

What can female entrepreneurs rejoice about?

It seems much. According to the Gender Global Entrepreneurship Development Index, the conditions that foster high potential female entrepreneurship are three-fold - encouraging an entrepreneurial environment, entrepreneurial eco-system and entrepreneurial aspirations.

Focus should now shift to long-term targets: Cabraal

Sri Lanka is on course to achieve macro-economic targets in the near-medium term, and focus must now shift towards longer-term targets up-to and beyond 2030, according to Central Bank of Sri Lanka (CBSL) Governor, Ajith Nivard Cabraal.

Holcim, Lafarge agree merger to create cement giant

REUTERS: Switzerland’s Holcim has unveiled an all-share deal to buy France’s Lafarge to create the world’s biggest cement maker with combined sales of 32 billion euros.

Unresolved sustainability issues in global tea sector

Although the subject of sustainability in tea plantations had been discussed on many occasions before, yet in view of its importance to the tea sector and also as many issues still remain unresolved, this article re-examines this subject.

March tourist arrivals up 17.5%

Sri Lanka’s tourist arrivals rose 17.5 percent Year- on-Year (YoY) to 133,048 in March 2014, with Russia, China, Saudi Arabia and the UAE leading the list, data released by the country’s tourism authority showed. Arrivals in the first three months of the year were up 24.8 percent YoY to 421,501.

ComBank to start Myanmar operations soon: Chairman

Commercial Bank PLC (Combank), Sri Lanka’s largest private sector bank yesterday expressed optimism of their foray into the fast emerging Southeast Asian nation, Myanmar before the third quarter of this year.

Responsibility grid - Integrating re-engineering with total quality

One of the most sacred tenets of management is the need for clear accountability. As such, organisations spend enormous amounts of time and energy defining jobs, roles, and goals — and then figure out who to reward or penalize when things go well or poorly.

Are you interested in investing in an IPO?

The Colombo Stock Exchange (CSE) witnessed an increase in Initial Public Offerings (IPOs) since the beginning of the year as a result of the incentives given by the budget for the year 2014 and the prudent measures taken by market stakeholders.

Are you trapped in a toxic career environment?

In today’s world, filled with stress, ambition and ruthless pursuit of career goals, environments and people can turn toxic without much notice. The toxicity generated can have a deadly effect on others, especially those caught by surprise. When environments do turn toxic, it is usually due to a few or a group of......

UNHRC: Measuring consequences and implications

Last year Verité Insights examined the trading relationship between Sri Lanka and the countries that had voted for and against the UNHRC resolution on Sri Lanka both in 2012 and 2013. The findings were important.

Wijeya Newspapers partners Wow.lk to form largest interactive classified portal

Wijeya Newspapers Limited owned Hit Ad and Lahipita, Sri Lanka’s largest classified giants joined hands with Dialog’s wow. lk, to create the country’s largest interactive mobile and web-based classifieds portal.

CB goes public with deposit rate caps on finance companies

The Central Bank yesterday informed the public of maximum interest rates that could be offered for deposits by finance companies, with effect from April 1, 2014.

CEAT to open Rs.600 mn radial plant in Kelaniya

CEAT Kelani Holdings, the company that manufactures half of Sri Lanka’s tyre requirements, has announced a further commitment to the country in the form of an investment of Rs.600 million on a new tyre plant to produce highend radial tyres.

March inflation unchanged at 4.2%

Sri Lanka’s annual inflation increased to 4.2 percent in March, unchanged from the previous month, the data released by the Census and Statistics Department showed.

Performance of global rubber in 2013 and outlook

A recent report released (March) by the International Rubber Study Group (IRSG) indicates that the stock balance of the global natural rubber industry at the end of 2013, specifically that of the Asia Pacific region, is in a position of production exceeding that of consumption by 3,020,000 tonnes, which may be a worrying factor to....

Dialog Axiata invests further US $ 115mn to expand ICT infrastructure

Dialog Axiata PLC, a unit of Malaysia’s Axiata Group, has recently inked a deal with Sri Lanka’s Board of Investments (BoI) to invest a further US $ 115 million, approximately Rs.15 billion, to expand Dialog’s nationwide telecommunication networks and digital satellite television services.