Colombo will regain garden city of the East status: Gotabaya

Colombo will regain its reputation as the garden city of the East through the government’s on-going urban renewal projects, according to Secretary to the Ministry of Defence and Urban Development, Gotabaya Rajapaksa.

Integrated development of Port City of Trincomalee

Trincomalee is also known as Gokkana (Pali) and Tirukonamalai (Tamil). The city is built on a peninsula which divides the inner and outer harbour. It was a major maritime and trading post since the 11th century under the control of Sri Lankan kings.

Public concerns about economic growth

The latest LMD/Nielsen Business Confidence Survey shows that the percentage of people concerned about the economy more than doubled in 4th quarter 2012. The proportion of people indicating that the economy was their biggest or second biggest concern increased from 22% to 46 %.

Lankan software piracy rate at daunting 84%

Despite recent efforts to tackle software piracy, Mirror Business learns that the unauthorized use of software by Sri Lankans has been shockingly high at 84 percent in 2012, implying that 84 out of 100 Lankans ran their computers on pirated software.

Hemas secures land in Ratmalana for fourth hospital

Hemas Hospitals Private Limited, the fully owned subsidiary of Hemas Holding PLC sending a strong signal to sector rivals yesterday revealed plans to construct its next hospital in Ratmalana, taking into account the area’s growing middle class. This will take the total number of Hemas hospitals to four.

Stocks high on foreign buying

Sri Lankan stocks edged up for the fourth straight session yesterday to a near fourweek high on foreign buying in blue chips like market heavyweight John Keells Holdings.

Rs.6 bn PLC debenture issue oversubscribed

The Rs.6 billion listed debenture issue by People’s Leasing & Finance PLC (PLC), a unit of state-owned People’s Bank was oversubscribed yesterday—the opening day of the issue

Katunayake Expressway to be opened this August

Arrangements are being made to open the 26 kilometre-long Katunayake - Kelaniya Expressway, built at a cost of US$ 291 million, this August.

Bourse near 1-month high on banks; rupee weaker

Sri Lankan stocks rose for a third straight session yesterday to a near one-month high as investors picked up bank shares, but turnover was low as many investors stayed away because of rising interest rates.

Safeguarding consumer interests by strengthening food safety in SL

Increased international trade in food has resulted in consumers benefitting from access to food at lower prices, year-round supplies, and a greater quality and variety of food.

Tax-free zone at Mattala airport

Sri Lanka is turning its newest international airport opening Monday into a tax-free zone to attract aviation-related industries, a top official said.

US sends warning signals to Lankan exporters on software piracy

With United States-sponsored resolution on alleged human rights violations against Sri Lanka forth coming (March 22) in Geneva, the largest US importer of Sri Lankan apparels has sent a warning signal to local exporters who fail to comply with genuine software in international trade.

Asia’s defence spending overtakes Europe’s: IISS

Asia’s defence spending overtook Europe’s for the first time last year, the International Institute for Strategic Studies (IISS) said on Thursday, reflecting China’s military rise and shrinking European economies.

Australia’s Paycorp to set up KPO centre in Sri Lanka

The Board of Investment (BoI) of Sri Lanka yesterday announced the signing of a US$ 4.40 million agreement with Paycorp Payment Solutions for the setting up of a Knowledge Process Outsourcing (KPO) center.

PUCSL to regulate petro prices by end 2013

Amidst wide-ranging consultations to revise electricity prices by the Public Utilities Commission of Sri Lanka (PUCSL), the next most challenging task of the regulator appears to be fixing prices from petroleum profits, probably from the third quarter of this year, Mirror Business learns.

Sri Lanka – Less optimistic on growth rebound

We see three reasons for a slower-than-expected recovery as the economy adjusts to bold...

Weak world economy curbing oil demand: IEA

Global oil demand will be squeezed by weak economic growth this year, while soaring U.S. production gives consumers a perfect cushion to withstand most supply outages, the West’s energy agency said yesterday.

Krrish Square construction to begin in June

Construction on Krrish Square is set to commence from June of this year, according to Krrish Group Chief Executive Officer R.P. Gupta.

January tourist arrivals up 13.4%

Sri Lanka’s tourist arrivals rose 13.4 percent yearon-year (YoY) to 97,411 in January, the unusually delayed data issued by the Sri Lanka Tourism Development Authority showed.

S’pore firm to set up PET packaging plant at H’tota Port

Hambana Petro Chemical Ltd (HPL), a firm owned by Peak Energy (Pte) Ltd of Singapore has recently signed agreements with the Sri Lanka Ports Authority (SLPA) to set up a plant to produce thermoplastic polymer resin at the Magam Ruhunupura Mahinda Rajapaksa Port (MRMR Port) in Hambantota.

MAS Chief recognized for women empowerment

MAS Holdings Chairman Deshamanya Mahesh Amalean has been recognized for exceptional leadership in championing women’s empowerment and support for the Women’s Empowerment Principles – a partnership initiative of UN Women and the UN Global Compact.

Korean Air begins direct flights to Colombo

South Korea’s flag carrier, Korean Air on Sunday began direct flights to Sri Lanka.

Broken promises: Plight of Lankan women and its economic costs

The United Nations celebrated the first International Women’s Day on 8th of March in 1975. Since then, the International Women’s Day has been celebrated each year on the 8th of March, all across the world.

Lanka among top boozing nations

High spirited Sri Lankans who crushed a so-called unbeatable terrorist outfit in 2009 has now set another world record by placing the country among the top boozing nations in the world, a study carried out by a local research firm showed.

CIMA President Babber in town

CIMA ’s President, Gulzari Babber who is on an official tour to all CIMA markets in the region makes his visit to Sri Lanka this week.

New motor vehicle registration plunges 24% in 2012

Sri Lanka’s new motor vehicle registrations dipped 24.4 percent Year-on-Year (YoY) to 128, 126 units in 2012 amid higher import duties and slow economic growth.

From crisis to sustenance : Treasure is out there in the blue ocean

Starting today and during the next few instalments, we will be making a brief study of what is known as the ‘blue ocean strategy’. To understand what is meant by Blue Ocean Strategy, let us see how the two Professors who wrote the book -  W. Chan Kim - Renee Mauborgne -  introduce their theme: “Imagine a market universe composed of two sorts of oceans:

Introduction to types of traders

A stock trader is a person or entity engaging in the trading of equity securities, in the capacity of agent, hedger, arbitrageur, speculator or investor. Several different types of stock trading strategies or approaches exist including scalping, momentum trading, technical trading, fundamental trading, swing trading, day trading, etc.

Norochcholai coal power plant : Debt-to-equity swap deal ‘dangerous' - Expert

A top energy expert recently warned of dire consequences of transferring the Norochcholai coal power plant back to the Chinese company in lieu of the massive loans obtained to construct the project and went on to describe a possible scenario of such a move as ‘dangerous'.

Stanchart and ADB collaborate to support microfinance across Asia

Standard Chartered Bank has entered into a collaboration with the Asian Development Bank (ADB) to support the growth of the microfinance sector in Asia. This region-wide collaboration aims to improve access to financial services for the poor in ADB's developing member countries (DMC's).