Severe drought slashes tea production; high grown output dips 11.6% during January - August

The Planters’ Association of Ceylon highlighted the plight of the Regional Plantation Companies (RPCs), which are facing a drastic drop in crop intake due to the severe drought, with high grown output coming down by 11.6 percent during January to August this year.

Budget deficit fears loom

Despite an increase in government revenue during the first seven months of 2012, the current expenditure of the government rose significantly compared with the previous year, signalling that the government may not be able to meet its budget deficit target of 6.2 percent of the Gross Domestic Product (GDP).

The Euro not in trouble, but people are

One of the phrases frequently written in economic circles in the United States (and to a lesser degree in Europe) is “the Euro is going to collapse.” Those who repeat that phrase over and over again do not seem to know how the Euro was established, by whom, and for whose benefit. If they knew the history of the Euro, they would have noticed that the major forces behind the Euro have done very well and continue to do so.

Sri Lanka Tourism to spice - up Spice Food Festival

Following the success of the World Spice Food Festival since 2005, Sri Lanka Tourism Development Authority has once again made arrangements to conduct the World Spice Food Festival 2012, with the aim of showcasing culinary expertise from around the world with added Sri Lankan flavour.

Emerging Asian economies need structural reforms - Top economist

Emerging economies in Asia will require deep reaching structural reforms in order to avoid stagnation and promote a second wave of growth, according to visiting associate professor from the Lee Kuan Yew School of Public Policy at the National University of Singapore, Razeen Sally.

Surviving in times of crisis - Getting creative in a business crisis

All businesses face occasional crises, big and small. Most are of the smaller variety and are easily handled with existing systems. But occasionally, a crisis can be so large it spreads fear and threatens the business itself. The old saying that “when the going gets tough

Best time to invest in stock market

The Colombo stock market has gone up by over 1,000 points (more than 20%) during the last few weeks. With this growth, a large number of investors are either trying to enter the market or trying to maximize profits from their existing investments.

Unsung heroine of corporate world – the single mom

Recent media reports announced that divorces in Sri Lanka have risen to 300 a day, making it a high figure for a country with an ageing population. Somewhere in the midst of those break-ups are courageous single mothers, who suddenly find that they have to fend for themselves and their children.

Rupee gains on bank, exporter dollar sales

The Sri Lankan rupee strengthened yesterday as banks sold dollars on stock related inflows, dealers said.

ADB lends $130 mn to upgrade power supply

The Asian Development Bank (ADB) is lending $130 million to help Sri Lanka expand the reach and quality of its electricity supply, with a focus on former conflict areas in the north and east of the country. It will also improve transmission and distribution network efficiency and develop renewable energy in other parts of the country.

9/11 vs 99:1and fading American Dream

The American Dream is a national ethos of the United States, a set of ideals in which freedom includes the opportunity for prosperity and success and...

FDIs hit US$ 450mn in first 6 months

Sri Lanka has been able to attract US$ 452 million as foreign direct investments (FDIs) by the end of June this year, as opposed to US$ 413 million in the first six months of 2011, a government minister said.

Stocks up: Turnover at 8-month high

Sri Lankan stocks ended slightly firmer yesterday as investors picked up banking and diversified shares while block deals pushed turnovers to an eight-month high, dealers said, while the rupee firmed as banks sold dollars.

Limits of statist development or state capitalism

One must emphasize that the state has a crucial role to play in a modern economy.  It should maintain macro-economic stability; address market failure; design a well-targeted safety net to protect the poor and vulnerable; and provide important public goods, such as prudent economic governance, law and order and a conducive investment climate, including robust and transparent regulation

Active credit cards surge over 50,000 by end - July

The total active credit cards within Sri Lanka increased by 55,864 between December 2011 and July of this year, according to provisional figures from the Central Bank of Sri Lanka.

NR cultivation in Europe and Asian dominance

The first tyre prototypes obtained from natural latex from Guayule and Russian Dandelion plants have been presented. The production of the first prototypes is a clear indication of the technical performance and economic potential of the rubber extracted.

New development goals for planet earth

Can extreme poverty be eliminated in the next 20 years? Indonesian President Susilo Bambang Yudhoyono may well be pondering this question as he and other heads of state gather in New York for the 67th session of the United Nations General Assembly.

CB releases ‘Public Debt Management’ periodical

The Central Bank of Sri Lanka has released its annual publication on Public Debt Management for 2011- “Public Debt Management in Sri Lanka, Performance in 2011 and Strategies for 2012 and beyond”.

SEC to tighten grip on related party transactions

The Securities and Exchange Commission of Sri Lanka has issued a consultation paper aimed at tightening regulations pertaining to disclosures and governance in related party transactions.

Investing in stock market: How important is dividend yield?

Generally speaking, income from stock investments comes from two sources: Increase in the market price of the stock or capital gains and dividend payouts.

Surviving in times of crisis - Employee empowerment- secret to a successful business team

I have known Jagath as an enterprising young man for a number of years. He had a degree in management but his career choice was marketing. After qualifying himself in marketing, he joined a small local trading company as a sales manager. Recently I found him in a disturbed frame of mind.

SL needs tight monetary policy little longer - CB Chief

Sri Lanka’s falling external deficits should allow the central bank to review its tight monetary and credit policies towards the end of the year, Governor Ajith Nivard Cabraal told Reuters yesterday.

ONGC to partner Cairn India in Mannar Basin oil explorations

ONGC Videsh (OVL), the overseas arm of the state oil explorer has held initial talks with Cairn India for a partnership in Sri Lanka, where Cairn drilled successfully to announce the island’s first hydrocarbons discovery, Indian media reports said quoting unnamed sources.

Entrepreneur women who turned the cosmetic world around

I had heard about the miracle mineral make up but it was while on a holiday in Italy recently that I discovered the all-natural perfection of mineral...

Telecom sector loses Rs.8bn on rupee depreciation - TRC DG

Sri Lanka’s telecommunication sector has lost approximately Rs.8 billion by way of exchange losses, as the majority of telecom firms operating in the country are exposed to foreign exchange borrowings, according to Telecommunication Regulatory Commission (TRC) Director General Anusha Palpita.

Stocks fall amid profit-taking in overbought market

Sri Lankan stocks fell 1.4 percent yesterday as investors booked profits across the board in an overbought market after a 15-session rally.

Continued interests in green credentials of natural rubber

Rubber ( Hevea brasiliensis) has retained many features from it’s Amazonion origins as an environmentally-friendly forest tree, although it has been cultivated as a plantation crop for latex with wood as a side-product and now for carbon credits.

Global growth worries hit Asia biz sentiment in Q3-Survey

Business sentiment among Asia’s top companies fell for the second straight quarter, dragged down by export-orientated economies such as China and Japan, while domestic spending helped boost Southeast Asia’s outlook, a Thomson Reuters/INSEAD survey showed.

Vehicle importers demand extension of reconditioned vehicles' age limit

The Vehicle Importers Association of Sri Lanka has submitted a proposal requesting the government to extend the stipulated age limit of used vehicle imports from two years to three and a half years.

Profit-taking drags stocks from 8-month high

Sri Lankan stocks fell 1 percent yesterday from an eight-month high, snapping a four-day gaining streak as investors booked profits across the board.