From crisis to sustenance : Finding the right customer is not rocket science

Ask someone why they bought a certain brand of prestige car. What do you hear? “I’ve got to keep up my status”, “I thought I’d look good in it”, “Makes me look successful”.  You wouldn’t get answers like “handles really well” or “It has a low rate of depreciation” or maybe “It’s got a really good sized boot”.

Honda launches 4 stroke genuine oil in Sri Lanka.

Bharat Petroleum Corporation Ltd has been a trend setter and market leader in motorcycle genuine oil segment in Sri Lanka and India.

Healthy Cooking with the Sharp Healsio Microwave Ovens

Browns & Company presents the revolutionary solution to healthy cooking with the Healsio Sharp microwave oven with steam heating technology development which effectively removes excess oil food ingredients, and reduces cell damage to food.

PACKER’S CASINO ENTRY: Where is the licence? - Harsha

Australian casino kingpin James Packer should not be permitted to set up a casino in Sri Lanka without a valid license, in line with the Casino Business (Regulation) Act passed by the present government, an opposition legislator stated.

Industrialists worried by changes to land ownership, taxes

The restrictions on land ownership by foreigners brought in by the government this February has disturbed the country’s industrialists the most, as fears of such restrictions would hamper foreign investments in the manufacturing sector, according to Sri Lanka’s apex industrial body.

EPF buys 10 percent stake in Cargills Bank with board influence

Sri Lanka’s state-controlled pension fund, Employees’ Provident Fund (EPF) is believed to have made a substantial investment in Sri Lanka’s Cargills Agriculture and Commercial Bank (CACB), the yet to be launched greenfield banking unit of Cargills group, Mirror Business learns.

JKH ups integrated resort investment by US $ 200mn

Premier blue chip John Keells Holdings PLC (JKH) has indicated to the Board of Investment (BoI) that the firm would increase its investment in the proposed integrated resort project in Glennie Street

No agreement signed with Packer directly so far: BOI

Despite the controversy surrounding the potential social degradation and the massive tax concessions granted for James Packer’s proposed US $ 350 million resort and casino in D.R. Wijewardena Mawatha, the Board of Investment (BoI) said it had so far not entered into a formal agreement with the casino kingpin.

Govt. must invest in the right type of education: Academic

Education remained a hot-topic of discussion on the second day of the Sri Lanka Economic Summit 2013 with University of Sri Jayawardenapura Senior Professor, Ajit Abeysekera voicing support for tertiary education curricula.

Laksala to open landmark store in Colombo Museum premise

With the objective of popularizing and promoting the Sri Lankan handy-crafts industry both locally and...

Renminbi fund looking at Lankan private and listed equity

A renminby denominated Chinese fund which has access to onshore Chinese credit market has explored opportunities in investing in private and listed equity in Sri Lanka

IMF cautions govt of changing debt dynamics

The International Monetary Fund (IMF) yesterday cautioned the government of the changing debt dynamics, which could have unfavourable repercussions in the years to come and called for immediate fiscal adjustments.

Mechanism set up to remedy issues faced by EU investments

The European Chamber of Commerce of Sri Lanka (ECCSL) recently launched the European Union-Sri Lanka (EUSL) Investor Dialogue, to identify barriers and constraints faced by the European investors in Sri Lanka and find solutions to these issues.

JKH officially announces US $ 650 integrated resort project

Premier blue chip John Keells Holdings (JKH) yesterday announced the much hyped Glennie Street project to the Colombo Stock Exchange (CSE) officially, of which the company kept mum even in its latest annual report.

Defining luxury in the hospitality industry

The blurb appearing in a hotel advertisement that said, “Please cast your valuable vote for the Kxxxxxxxx Hotel in the 2013 World Luxury Hotels Awards...” caught my eye and immediately had me thinking.

Will Asia’s largest FTA make a difference?

The first round of negotiations to establish the Asian Regional Comprehensive Economic Partnership (RCEP) -- a free trade agreement (FTA) across ASEAN+6 (the 10 ASEAN members plus Australia, China, Japan, South Korea, India and New Zealand) -- was held in Brunei in May. The RCEP idea was first proposed by Indonesia during its chairmanship in 2011.

Reviving agriculture: The case for a fundamental rethink

The 35 years since liberalization of the economy has seen repeated cycles of the economy overheating once growth exceeds 6 percent. Growth of 8 percent or more is necessary over a sustained period to achieve economic transformation similar to that achieved by a number of countries in East and South East Asia.

To GSP or not to GSP, that is the question

The European Union’s (EU) Generalised System of Tariff Preferences (GSP) is a scheme where the EU grants developing countries such as Sri Lanka duty free or preferential duty access to the EU market for a selected number of products. What is GSP Plus?

Role of good governance in achieving economic success

In the Best Interest of my Country is the fourth Volume of Dinesh Weerakkody based on his regular columns in the print media.   Starting in 1990 with the first volume, he proceeded to bring out the second volume in 1993 and the third in 1996.

GSMB: Issuance of mining permits, exploration licenses and consultancies

As a former Director of the Geological Survey Department (Present GSMB) I have critically analyzed the Minerals Yearbook 2012 released by the Director General GSMB in August 2012.

Drought resistant coconut trees an urgent need: Coconut growers

Climate change has invariably taken its toll on the country’s coconut cultivation considerably and thus, the growers are calling for drought and temperature resistant coconut plants as an urgent need.

Rupee slips on importer demand

The Sri Lankan rupee edged down to a near eight-month low in early trade yesterday as the Central Bank asked banks not to buy dollars beyond 130.60 with the local currency remaining under pressure on concerns of further foreign outflows.

Adverse weather dampens tea production: Planters

Prolonged heavy showers and strong gale force winds have drastically impacted tea production with some estates having recorded only 40 percent of their estimated average yield in the past two months, Planters' Association said in a statement.

Aitken Spence puts two thermal power plants up for sale

Two thermal power plants belonging to Aiken Spence PLC have been put up for sale following the lapse of the power purchase agreements they had with Ceylon Electricity Board.

We aren’t obliged to honour Indo–Lanka Accord

By Udaya P Gammanpila Shiv Shankar Menon is Indian Prime Minister’s all-powerful National Security Advisor.  He has served as Indian High Commissioner in Sri Lanka.  In fact, in certain cases, he has acted as a de facto Ambassador for Sri Lanka in India defending Sri Lanka within the Indian circles. 

Importers call for Gold Card System re-introduction

Country’s importers renewed their call to bring back the Gold Card System where selected importers could enjoy preferential treatment when clearing their cargo, doing away with the existing system where all importers are treated alike.

Japan overtakes China as largest lender to Lanka

Overtaking China, Japan became the single largest development finance provider to Sri Lanka during the first four months.

Are women less susceptible to corruption?

With half of the world’s population being female, gender equality in political representation has...

Amana Bank enters Puttalam with 22nd branch

Amana Bank opened its 22nd branch on July 1 in Puttalam, thereby expanding its services to the residents of the locality and nearby towns such as Kalpitiya, Norochcholai, Palavi, Karative and Madurankuliya.

State enterprises’ outstanding debt expands to Rs.333bn

The total outstanding debt of t he country’s non-financial state-owned business enterprises (SOBEs) has swollen by as much as Rs.12 billion during the first five months to Rs.333.3 billion by the end of May 2013, Mirror Business observes.