Sri Lanka missing world’s biggest trade party and it’s in her backyard

Once upon a time, Sri Lanka was at the forefront of South Asian trade liberalisation. Beginning in 1989, Sri Lanka made large reductions in import duties and by 2001, Sri Lanka’s average applied import duty was down to 9.1 percent compared to India’s 32 percent and Pakistan’s 20 percent.

Onshore potential for oil and gas in Sri Lanka

The island of Sri Lanka is underlain with Precambrian rocks of Achaean age about 3500 – 1500 million years (MY) old with a few granites of Cambrian age - about 540 MY old.

Gold faces more pressure as inflation stays tame

Gold prices are looking even more vulnerable after April’s price crash, as rampant inflation expected from successive rounds of monetary easing fails to materialize. The idea that record-low interest rates would damage paper currencies and boost inflation was a key factor pushing gold to record highs

Wijeya Newspapers and TELiBrahma add excitement to print publishing

Colombo, 22 May 2013: TELiBrahma, India’s leading mobile advertising solutions company specializing in augmenting real world context with digital engagements; announced its partnership with Wijeya Newspapers Ltd - to bring interactive print content LIVE on readers’ mobile/tab.

JKH FY 2012/13 net up 24% to Rs.13.6bn

Sri Lanka’s John Keells Holdings PLC, the conglomerate with the largest market capitalization posted a net profit of Rs.13.6 billion, up 24 percent for the financial year ended March 2013.

US $ 75-100mn cement venture on track

Binod Chaudhary-controlled Cinnovation Group has already obtained the preliminary approvals from the Board of Investment (BoI) of Sri Lanka and licence to carry out tests from the Geological Survey and Mines Bureau (GSMB) for the US $ 75-100 million cement factory the group is planning to set up in Sri Lanka’s northern peninsular.

Billionaire Binod Chaudhary bullish on Sri Lanka

The 1,342nd Forbes US dollar billionaire in the world, Binod Chaudhary, yesterday said that he has ‘full confidence in the Sri Lankan system’ to make investments and set up businesses in the island nation and stressed fast tracking of official procedures will further enhance the business-friendly environment.

MTD Walkers records Rs.275.5mn net profit for FY12/13

MTD Walkers PLC, a company which has interests in construction and power generation, has reported a net profit of Rs.275.5 million for the financial year ended March 31, 2013, up by Rs.129 million the firm reported in the previous year.

April tourist arrivals up 14.7%

Tourist arrivals to Sri Lanka increased by 14.7 percent year-on-year (YoY) to 79,829 during the month of April.

Natural Rubber future appears uncertain

NR market’s slow growth in recent times, after the unrealistic boom in the beginning of this decade, is mainly due to a lull in demand across the globe. The issue is whether NR prices will bounce back or will continue to be very volatile.

US research study spells boom for Lanka’s cinnamon industry

Results of a scientific research study just released in the US and publicized by news media worldwide present a game-changing bonanza for Sri Lanka’s cinnamon industry needs.

South Asians rely on informal money transfers: Study

PTI: Nearly 800 million South Asians and Indonesians sent or received a payment or remittance last year with a majority of them doing so informally, according to a new Gallup study.

Achieving faster progress in education and health

Economic growth is front-page news everywhere. But experience tells us that the link between income and human development is far from assured. Worldwide, countries with similar per capita incomes have had quite different achievements in basic education or basic health.

NDB poised to take on growth opportunities and support emerging entrepreneurs: Official

Following are the excerpts of an exclusive interview Daily Mirror had with NDB Vice President and Head of Corporate Banking Buwanekabahu Perera.

Sampath Bank plans aggressive market share expansion with e-remittance facility

Sampath Bank plans to aggressively expand market share with its e-remittance facility, having already gathered significant momentum through the course of last year, according to the bank’s Marketing and Business Development Deputy General Manager Tharaka Ranwala.

Step-by-step guide to invest in stock market

The fundamentals of world economics have shifted from commodity markets to financial markets. Hence, financial markets play a pivotal role in wealth creation, economic development and economic equality.

Challenging the process: Stepping into the unknown

George Bernard Shaw once said, “The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.”

Dialog Axiata bags Sri Lankan Cricket sponsorship

Dialog Axiata PLC, a unit of Malaysia's Axiata group has clinched the sponsorship deal for Sri Lanka Cricket at a sum of Rs.753.9 million+ taxes, a stock exchange filing by Sri Lanka's largest mobile services provider said.

Sri Lanka on track to achieve MDGs: ADB

With 2 years to go for the 2015 Millennium Development Goal (MDG) deadline, Sri Lanka appears to have made notable progress in many fronts, particularly in areas of achieving universal primary education enrollment and water supply & basic sanitation (WSS), Asian Development Bank (ADB) showed.

New Xbox One unveiled as home entertainment hub

Microsoft on Tuesday staked a claim to the Internet Age living room with an eagerly awaited new generation Xbox...

Local construction industry calls to trim foreign presence

Sri Lanka’s construction sector professionals recently called to cut down the number of foreign consultants, contractors and labourers employed in mega infrastructure projects taking place in the country, stressing the practice has proved detrimental to the local construction industry.

SLT’s superfast Internet goes live

Celebrating the ‘World Telecommunication and Information Society Day (WTISD) last week, the national telecommunication service provider – Sri Lanka Telecom (SLT) announced the soft launch of its Very-High-Bit-Rate Digital Subscriber Line 2 (VDSL2) advanced fixed broadband technology.

Flydubai begins Mattala services

The Dubai-based budget carrier Flydubai officially launched its services to Sri Lanka’s second international airport in Mattala yesterday.

Make the Change- Agile Human Resource Management

Adaptability and Responsiveness is a highly acclaimed characteristic in business world.  Changing customer needs and mounting competition can only be won by managerswho can lead their workers to respond the changers in an agile manner.

Biodiversity for sustainable development: Sri Lankan perspective

There is growing recognition of the fact that biological resources and diversity are vital to humankind’s economic and social development. It is accepted that diversity is a global asset of tremendous value, and that it needs to be preserved for future generations.

CICT receives first vessel carrying equipment

Colombo International Container Ter minal (CICT), which is developed under the South Harbour Terminal project received its first vessel on May 20, carrying on board 3 gantry cranes and 10 rubber tire gantry cranes to be installed at the CICT.

SL'S public investments, FDIs lagging behind peers

Despite government investments in the economy increasing as a percentage of GDP as well as in absolute terms during 2012, the International Monetary Fund (IMF) points out that Sri Lanka’s public investment is low compared to countries that have experienced sustained high growth.

New CEO at MillenniumIT

Mack Gill has been appointed the new CEO of MillenniumIT, a unit of diversified international exchange business of London Stock Exchange Group.

Electricity protests: Losing trust and unplugging the refrigerator

Matthew Arnold’s famous poem, Dover Beach, ends with a rather despairing couplet, “Swept with confused alarms of struggle and flight, / Where ignorant armies clash by night.”

No end to poverty without better governance

In April the World Bank governors endorsed two historic goals: to end extreme poverty by 2030 and to ensure that prosperity is shared. It will take a lot to end poverty: strong growth, more infrastructure investments, increased agricultural productivity, better business environments, jobs, good education, and quality health care.