Leadership and succession

Succession planning is a process for identifying and developing internal people with the potential to fill key leadership positions in the company. Succession planning increases the availability of experienced and capable employees that are ready to assume key leadership roles as they become available.

September trade gap widens over 40%

The imports to the country during the month of September rose 23 percent Year-on-Year (YoY) to US $ 1.61 billion and exports grew by 11 percent to US $ 890 million, expanding the country’s trade gap by 41.1 percent or US $ 698 million, external sector data showed.

Australia’s Property Alliance Capital signs MoU for US$ 450mn project

Property Alliance Capital, Australia and local ISL Holdings (Pvt) recently signed a Memorandum of Understanding with the Urban Development Authority (UDA) and the Board of Investment (BOI) over its US$ 450 million Prosperity Place mixed development alongside the Beira Lake.

Mobitel powers CHOGM App

In light of the 23rd Commonwealth Heads of Government Meeting (CHOGM) being held this week, the very first Android app developed in the history of CHOGM, titled ‘CHOGM 2013 – Sri Lanka’ is gaining quick popularity.

Packer makes strong case for his Lankan casino

Making a compelling case for his controversial integrated resort (IR) project in Sri Lanka, the Australian casino mogul and the Chairman of Crown Limited, James Packer yesterday stressed the need for Sri Lanka to identify the importance of providing the right tourism offering, if the country is serious about achieving her ambitious tourism targets.

NDB comes up with biggest debt issue ever

National Development Bank PLC (NDB), a development financier, yesterday announced its plans for Rs.10 billion listed debt, the largest ever debenture issue a listed company has so far announced.

Investment agreements worth US $ 2.1bn to be signed in parallel with CHOGM

Three investment agreements worth US $ 2.1 billion are due to be signed today in Hambantota concurrent to the Commonwealth Heads of Government Meeting (CHOGM) events taking place in the city.

Dwindling aid slows Sri Lanka

When the first trains in almost two and a half decades started running through this war-ravaged town in Sri Lanka in mid-September, Sinngamuththu Jesudasan could not resist the temptation to go and have a look – repeatedly.

Chairing the Commonwealth: Capturing opportunities for economic advancement

Sri Lanka is in the midst of hosting the Commonwealth Heads of Government Meeting (CHOGM) and President Mahinda Rajapaksa is about to assume the position of Chair-in-Office for the next two years.

Why the Commonwealth MUST go to Sri Lanka

When Commonwealth leaders gather in Colombo on November 15 for their biennial meeting, they will be sending a message to the human rights advocates worldwide who campaigned so strongly against this event.

President visits and tweets to the world from Airtel booth

President Mahinda Rajapaksa ceremoniously inaugurated the Business Forum of the Commonwealth Heads of Government Meeting at the Hotel Cinnamon Grand yesterday.

Neapli billionaire calls for policy consistency to boost SAARC investments

Nepal’s first Forbes billionaire yesterday called for policy consistency by governments in the region, to foster investments and become globally competitive.

Advanced economies should honestly support trade with emerging nations

Following is the address delivered by President Mahinda Rajapaksa at the inauguration of Commonwealth Business Forum 2013 at Cinnamon Grand Colombo yesterday.

Export economics beyond the ‘white underwear’

Exports from Sri Lanka are thrice cursed. They are declining as a share of global exports, as a percentage of Sri Lankan gross domestic product (GDP) and also in absolute value. It’s timely to evaluate the reasons and consider solutions.

Fashion Bug takes another stride in contributing to regional development

Fashion Bug, one of Sri Lanka’s leading retail clothing stores with over 17 outlets island-wide, completed yet another project by donating a computer unit, under its present Social Sustainability platform titled ‘Sisu Dirimaga’.

Reforming post-war economy in four years

“It has only been four years since the end of the armed conflict in Sri Lanka. The government needs more time to provide a business-friendly climate that would attract more investment”.

Lankan consumer more evolved in terms of knowledge: Unilever Chief

Unilever’s new Chairperson for its Sri Lankan business operation, Shazia Syed spoke with Mirror Business about her personal experience in Pakistan, where she was the first Pakistani woman to head Unilever’s Sales division and Unilever’s expectations for the coming year. Excerpts:

CB leaves policy rates unchanged

The Central Bank (CB) yesterday kept the policy rates on hold for the month of November, providing a breather to the recent monetary easing to take effect during the next few months.

Invest Sri Lanka Pavilion to assist CBF delegates

Investment Promotion Minister Lakshman Yapa Abeywardena yesterday inspected the Invest Sri Lanka Pavilion at Cinnamon Grand Hotel.

Italian high-end restaurant chain plans Lankan entry

High-end Italian restaurant chain SOHO is currently in discussions with potential local partners to set up a luxury restaurant in Colombo as early as next year, followed by a second restaurant in Galle, according to the founder owner.

Commonwealth Association of Accountants launched

With the objective of bringing together the accounting professionals of the Commonwealth countries under one common platform, Sri Lanka last week took the lead in launching the first-ever Commonwealth Association of Accountants (CAA).

CCC urges businesses to make use of CBF

The Commonwealth Business Forum (CBF) to be held from November 12 to 14 in Colombo within the ambit of CHOGM, would definitely provide the Sri Lankan businesses the prospect of harnessing new as well as expanding their existing business dealings to a greater level, a media statement by the Ceylon Chamber of Commerce (CCC) stated.

S’pore bourse selects MillenniumIT as post-trade tech partner

MillenniumIT, London Stock Exchange’s proprietary technology business service provider said yesterday that it has been selected by Singapore Exchange (SGX) to power the bourse’s post trade operations.

Country is progressing without any deviation from original plan: Cabraal

The following is a speech by Central Bank Governor Ajith Nivard Cabraal, a guest speaker at Business Today Top Twenty Five 2012-2013 awards ceremony. Let me start by....

Hemas announces key changes to top management

Hemas Holdings PLC yesterday announced changes to its director board and the top management.

A critical analysis of equity investments in foreign coal mining companies by GOSL

Two recent  articles in a weekly newspaper  reported that the government of Sri Lanka  has been advised  equity participation in coal mining companies after the Board of Investment (BOI) had.....

Mobitel mTicketing now enables government employees to make reservations via warrants

The National Mobile Service Provider, Sri Lanka Telecom Mobitel which introduced the innovative mTicketingservice which also offers purchasing train tickets via your Mobitel phone, has now extended its services for the greater convenience ofgovernment employees through a new service titled ‘mWarrants’. 

Aitken Spence in US $ 100mn resort deal with Spanish chain

As exclusively reported by Mirror Business a couple months back, Sri Lanka’s Aitken Spence PLC yesterday said it is teaming up with Spanish Hotel chain RIU Hotels to set up a US $ 100m million resort in Ahungalla.

A wish list for China’s Third Plenum

Hard landing, soft landing, no landing, overheating. Pundits’ views on China’s economy bounce around—often rapidly—between these descriptions. Just two short months ago, the dominant concern was

Buying a condominium: Getting increasingly popular in cities across the world

If this home ownership style is properly followed and developed, affordable homes at different levels will continue to create vibrant and healthy communities and cities across the country.