Sri Lanka cuts rate to spur growth

Sri Lanka’s Central Bank reduced policy rates by 50 basis points to stimulate growth. Accordingly the repurchase rate will be placed at 7 percent and the reverse repurchase rate at 9 percent

Why women suffer most when garment industry collapses

Whether in Sri Lanka, Vietnam or Bangladesh, where a deadly factory collapse has killed over 500 people, the garment factory...

CB seen keeping rates steady tomorrow

Sri Lanka's Central Bank is expected to keep key monetary policy rates steady for the fifth straight month on Friday, a Reuters poll showed, and analysts predict at least a quarter percentage point cut in June as both the central bank and the country's treasury secretary have signaled

Priyan Fernando new Brandix Chairman

Brandix Lanka Limited has announced the appointment of Priyan Fernando, currently a non-executive Director, as Chairman effective May 3, 2013

Dialog first quarter profits at Rs.1.6bn

Sri Lanka's leading mobile services provider, Dialog Axiata PLC has posted a net profit of Rs.1.59 billion for the first quarter of FY13 against a net loss of Rs.531 million in the same quarter of the previous year, helped by reduced financial costs and tax refunds, the interim financial accounts released to the Colombo Stock Exchange showed

Ports Chairman elected IAPH Regional VP

Sri Lanka Ports Authority (SLPA) Chairman Dr Priyath B. Wickrama has been elected the third Vice President of the International Association of Ports and Harbours (IAPH) for the period 2013-2015.

Bourse steady at 1-1/2-year high; Keells leads

Shares rose for the fifth straight session yesterday to hit a new 1-1/2-year high, led by conglomerate John Keells Holdings despite foreign outflows as hopes of a rate cut at the Central Bank’s policy meeting later this week boosted local investor appetite for stocks.

Export drop moderates; March trade gap narrows 29%

Sri Lanka’s March export income drop moderated 2.8 percent year-on-year (YoY) to US $ 837 million, resulting the trade gap to narrow 29 percent YoY to US $ 704.5 million, the data released by the Central Bank showed.

The SHINKANSEN method to energize workforce

 “Why does the Shinkansen (Japan’s bullet train) travel much faster than an ordinary train?” was a question posed to us during a training programme in Japan. None of our answers ranging from technology to the tracks were correct.

Bourse at 1-1/2 yr high on blue chips, retail buying

Sri Lankan shares closed at their highest in nearly 1-1/2 years yesterday, led by blue chips, due to an improved appetite for risky assets after heavy foreign buying amid hopes of a rate cut at the central bank’s policy meeting later this week.

Lankan labour force and employment plunge in 2012

The economically-active population aged 10 years and above- popularly known as a country’s labour force - declined in Sri Lanka by 1.1 percent to 8.465 million due to migration of economically active persons during 2012, the Central Bank annual report showed.

Palm oil prices volatile despite high output

The price of the world’s most-used cooking oil, palm oil, is expected to remain volatile, given the high stock levels in Malaysia and Indonesia, a top official of a leading Malaysian oil palm cultivating company stated.

Feeding Asia’s energy appetite

Asia’s rise is increasingly considered a foregone conclusion, yet the extent to which the region will prosper hinges on its ability to feed its voracious, ever-increasing appetite for energy.

Capacity building at Mattala International Airport

 While the opportunities are being created to optimize the utilization of the new airport through Free Trade Zone, Industrial Park, Convention Centre etc. it is also necessary to look at what could be done from the existing opportunities both to the west and east of Sri Lanka in the immediate term.

Colombo Port gears for mega vessels from July

With the construction of the first phase of the South container terminal project nearing completion, the first berth will open up for ship traffic starting July, enabling the Colombo port to accommodate mega vessels that was not possible before, a top Sri Lanka Ports Authority official said.

India's Dabur opens US $16mn Sri Lankan factory

Dabur Lanka (Pvt) Ltd, a whollyowned subsidiary of India's leading consumer goods maker Dabur India Ltd, recently inaugurated its packaged fruit-based beverage manufacturing facility in Mirigama, Sri Lanka.

From crisis to sustenance : Blue Ocean Strategy – Where rules of game are waiting to be set

Today, we recap what we have studied during the past few weeks.  If you ever hear your executives whine about the competition, you will want to read this book.

Essentials for successful investors

Being a successful investor requires skills similar to those of a successful chef. Every cookbook stresses the need to read the recipe before beginning, make sure you have all the ingredients and do not deviate from the recipe until you have practiced it several times. 

March tea output up 11% YOY

Sri Lanka’s March tea production rose 11.3 percent from a year earlier due to favourable weather, pushing up output of the island nation’s top agricultural export by 8.1 percent in the first quarter of 2013, data from the state-run Tea Board showed on Thursday.

Export earnings, import expenditure, trade gap down in February

Sri Lanka’s export income fell 2.9 percent Year-on-Year (YoY) to US $ 797.5 million in February with both agricultural and industrial exports slowing down, the data released by the Central Bank showed.

Seylan 1Q net up 26% to Rs.510mn

Seylan Bank PLC has posted a net profit of Rs.509.5 million, up by 26 percent Year-on-Year, for the first quarter of the financial year 2013, the interim financial accounts released to the Colombo Stock Exchange showed.

Stocks close at 16-month high

Sri Lankan shares hit a 16-month high yesterday on expectations of a rate cut at a central bank policy meeting later this month, traders said.

Austerity in Europe hurting women the most

Europe has always been a centre of celebration for human rights, whether for minorities, lesbian, gay, bisexual...

Export earnings down in February

Sri Lanka's export income fell 2.9 percent Year-on-Year (YoY) to US $ 797.5 million in February with both agricultural and industrial exports slowing down, the data released by the Central Bank showed

Dialog to boost SL’s bandwidth with new submarine cable

Dialog Axiata PLC (Dialog), Sri Lanka’s largest mobile services operator has entered into an agreement with the Bay of Bengal Gateway (BBG) consortium to land a high capacity submarine cable at a Cable Landing Station (CLS) to be located in Colombo, a statement by the company said.

PLC secures 17th slot among “Top 20 Most Valuable Brands”

People’s Leasing & Finance PLC (PLC) has scaled up from 21st to 17th among the “Top 20 Most Valuable Brands”.

Sri Lanka to host first carbon neutral economic summit

The Institute of Policy Studies (IPS) has obtained global Carbon Neutral certification for the hosting of the 6th South Asia Economic Summit in Colombo.

Fitch affirms Sri Lanka at 'BB-' with stable outlook

Issuing the sovereign credit rating and the country outlook for 2013, Fitch Ratings yesterday affirmed Sri Lanka's long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BB-'

February tourist arrivals up 11.6% YOY

Tourist arrivals to Sri Lanka in the month of February rose 11.6 percent year-on-year (YoY) to 93,232, helped by increased arrivals from East Asian and Western and Eastern European blocks, the official data provided by the Sri Lanka Tourism Development Authority showed.

Loose monetary policy to widen savings-investment gap

The likely loosening of the monetary policy will increase the savings - investment gap, which narrowed to 6.6 percent of GDP or Rs.503 billion in 2012, increasing the dependency on foreign financing to feed the investment hungry nation, a global bank alerted.