Young Water Professionals Symposium begins Nov. 22

Sri Lanka's first-ever Young Water Professionals Symposium (YWPS) will be held on Thursday, November 22, at the Galadari Hotel. Minister of Water Supply and Drainage Minister the Hon. Dinesh Gunawardena will be the chief guest and 2007 Nobel Peace Prize co-winner Prof. Mohan Munasinghe the keynote speaker.

Mobitel Reports Strong Profitability in Q3 2012

Mobitel, the country’s National Mobile Service Provider continued to grow its revenue despite heavy competition in the industry. Revenue for the first nine months of 2012 grew by 14% from Rs.15.9bn to Rs.18.2bn compared to the same period in the previous year.

Apparel exports dip 4.3%; exports to US up 6%

Export earnings from textile and garments declined by 4.3% during the first three quarters of this year, largely due to the declining demand from the European Union despite a growth in exports to the United States, according to a report compiled by the Ceylon Chamber of Commerce.

Challenging times ahead for smaller telcos- Fitch

Anticipated high capital expenditure for Sri Lankan telecommunications companies (telcos) will likely translate into a challenging year for smaller operators in the country over the course of next year, according to a report from Fitch Ratings.

Additional funding from ADB for Lankan roads

Sri Lanka's Finance Ministry today entered into an agreement with Asian Development Bank (ADB) for additional financial assistance to improve the road connectivity between the country’s Northern Province and other provinces

Driving business with creativity, innovation

Last week, we studied about Kaizen and today we venture into the concept of innovation. At this point, you might ask, “Why? Isn’t it the same thing you are talking about?”

What Obama re-election means for the world

America has created history again. With the re-election of Barack Hussein Obama as the President of the United States, the world’s most powerful economy and superpower, has sent another signal to the world.

This time it’s different. Is it?

The press conference called by the Securities and Exchange Commission (SEC) of Sri Lanka last week may have reminded most of the enlightened attendees the most dreaded phrase in the financial world, ‘this time it’s different’.

SEC, judiciary issues pose downside risks- Moody’s

A report from credit ratings agency, Moody’s, has highlighted regulatory issues in the Securities and Exchange Commission (SEC) and growing tension between the judiciary and the government as posing downside risks to Sri Lanka’s institutional strength.

October tourist arrivals grow 15.5 percent; Chinese tourist inflows to Maldives continue

Tourist arrivals to Sri Lanka during the month of October increased by 15.5% Year-on-Year (YoY) to 80,379, whilst total arrivals from the start of the year increased by 16% to 774,151, the data issued by Sri Lanka Tourist Board showed.

Increased private investments would ease fiscal pressure – WB MD

If Sri Lanka wants to sustain high economic growth in future, the country should try to import more and attract more capital from credible private sector partners, a top World Bank official said.

CB keeps policy rates unchanged

The Central Bank of Sri Lanka yesterday decided to keep the policy rates on hold amidst deceleration of credit to private sector and improved trade deficit position.

SEC unveils three - year roadmap

The Securities and Exchange Commission (SEC) of Sri Lanka released its roadmap for capital market development over the next three years yesterday.

Singer turnover tops Rs.18.7 bn end of Q3

Singer Sri Lanka f urther strengthened its position as the leader in Sri Lanka’s consumer durables sector as the Singer Group’s revenue rose by Rs. 3.2 billion to Rs. 18.7 billion, at the end of the third quarter.

Central Bank seen keeping policy rates on hold

Sri Lanka’s Central Bank is expected to keep interest rates steady for a seventh straight month today, a Reuters poll showed, and may join other banks in Asia to loosen monetary conditions only after inflation eases early next year.

Do women make better Internet entrepreneurs?

The buzz-word is here to stay – Internet-based business. With its vast reach across geographical boundaries and time zones, the power of the web...

Strong tourism gains boost Aitken Spence’s bottom line

Sri Lanka’s Aitken Spence PLC said its net profit for the quarter ended September 30 (2Q13) rose to Rs.731.4 million against Rs.468 million reported in the same period of the previous quarter, largely helped by strong gains from tourism operations.

Sri Lanka’s first Shariah-based income fund launched

The Islamic finance industry in Sri Lanka achieved another milestone in its fast evolving history, with the launch of Sri Lanka’s first-ever Shariahbased income fund recently.

Mixed reactions to tea concessions

Budget proposals concerning the tea sector have met with a mixed reception from industry stakeholders, who welcomed the direction of policies whilst questioning the relevance and adequacy of concessions and monetary allocations for subsidies.

GOLDEN AGE OF AD PRETESTING: Is metric-driven advertising killing creativity?

A car commercial prominently featuring a child hits the market in 2011 to a tepid response. Advertising industry sources believe the child was included purely because kids score well in ad pretesting. If the pretests were anything to go by, both client and agency believed they had a blockbuster on hand.

Natural Rubber growing is green business

United Nations Conference on Trade and Development (UNCTAD) concluded a few years ago that natural rubber stands to gain from internalization of environmental costs in the entire rubber industry.  The economic variables prevailing in the natural rubber market favour internalization:

Long term T-bill yields edges up

Long term Treasury bill yields edged higher at today’s bill auction with short term bill yields edging lower, the data released by the Public Debt Department of the Central Bank showed.

Amana Bank MD speaks at IFN Asia Forum in Malaysia

Amana Bank’s Managing Director/CEO Faizal Salieh delivered a country presentation on the topic ‘The Journey of Islamic Finance in Sri Lanka’ at the IFN Asia Forum held in Kuala Lumpur, Malaysia recently.

BOI signs agreement for graphite mining venture

The BOI signed an agreement with Plumbago Lanka (Pvt) Ltd facilitating a business venture for mining and to export value added graphite. The company plans to invest US$20 to US $78 million over the next 4 years

Mobitel and Ministry of Telecommunication & Information Technology launch revolutionary Upahara Inte

In its continuous efforts in revolutionizing the ICT sector, Sri Lanka Telecom Mobitel – the country’s National Mobile Service provider launched ‘Mobitel Upahara’ for state sector employees back in 2008.

Textured Jersey doubles net for 2Q FY2012/13

Knit fabric manufacturer Textured Jersey Lanka PLC (TJL) demonstrated its operating excellence by doubling net profits for the quarter ended 30 September 2012 (2Q FY2012/13), as per the financial results released to the Colombo Stock Exchange (CSE).

IATA projects rapid growth in APAC air traffic

Barring drastic fuel price hikes, the aviation industry is expected to enjoy increased profitability over 2013, riding on a new wave of intraregional traffic in the Asia Pacific (APAC) region, according to Chief Economist, International Air Transport Association, Brian Pearce.

Aitken Spence bags Best Corporate Citizen Award 2012

Aitken Spence bagged the Best Corporate Citizen Award 2012 at the annual Best Corporate Citizen Award ceremony organised by the Ceylon Chamber of Commerce, at Cinnamon Grand yesterday. Singer (Sri Lanka) became the first runner up, while Ceylon Biscuits Limited was the second runner up.

Lanka Cement to install grinding plant in KKS

Lanka Cement PLC plans to enter into a joint venture with other international cement manufacturers to set up a cement grinding and packing plant in an area outside the high security zone in Kankesanthurai, according to Lanka Cement Managing Director and Chairman, N.S.M. Samsudeen.

Stockbrokers praise govt. for Budget 2013

The Colombo Stock Brokers Association (CSBA), representing 23 stock broking companies today praised the government for the unprecedented policy initiatives proposed to develop the capital market Budget 2013.