Fishing industry to get Rs.10 bn Japanese funding

A large scale Japanese fishing business entity has plans to invest Rs.10 billion in Sri Lanka’s fishing industry, which will include new technical knowledge related to fishing and other technology relevant to the industry, a Fisheries Ministry release stated.

Is today’s office safe for women?

It seems our paradise nation has become an active haven for sexual perverts and rapists – not a day goes by without having to stomach a yet another unpalatable story of a rape or a sexual... 

Being good corporate citizen in worst of times

The recent murder of a seven-year-old little girl in the Kirulapone area shocked and shook up our little world.   The brutality of this act is inconceivable to many, especially since it was...

Policy adjustments brought results - PB

Although the adjustments to the country’s economic policy haven’t been easy economically as well as politically, they have produced significant positive results, Treasury Secretary Dr. P.B. Jayasundara said.

Pathum Vimana – country’s biggest deposit draw scheme: HNB AGM

R. M. P. Dayawansa, Assistant General Manager (AGM) – Personal Financial Services, Hatton National Bank, in an interview with Daily Mirror, talks about Sri Lanka’s biggest and most popular deposit draw scheme, Pathum Vimana. Excerpts:

Dialog TV launches Sri Lanka’s first HD broadcast

Dialog Television (DTV), Sri Lanka’s leading Direct-to-Home (DTH) Digital Satellite TV service recently announced the introduction of the country’s first HD (High Definition) broadcast, leading Sri Lanka into the era of advance digital media.

Regulator plans capital market hub

Sri Lanka’s Securities and Exchange Commission (SEC) is planning to shift its office to a new location, as the regulator is planning to set up a capital market hub with the support of the other capital market stakeholders.

Aitken Spence supports CA Sri Lanka as lead sponsor

Sri Lanka’s leading blue-chip conglomerate, Aitken Spence PLC has come onboard, for the second year in row, as a lead sponsor for the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to help carry out its development activities for the year.

Microsoft Sri Lanka-ICTA partner for FutureGov SAARC Summit 2012

Microsoft Sri Lanka has been selected by ICTA as the event partner for FutureGov SAARC Summit 2012, which will be held on July 18 and 19, at Cinnamon Grand Hotel.

Interest rates on the up; less hope for market recovery

Rising interest rates, rupee volatility and economic concerns led by a widening budget deficit is likely to cart off the possibility of a stock market recovery in the short term, though some investors and brokers try to blame it on the market regulator, which has become tough in the recent past under a new Chairman and a Director General.

Bank credit eases in May 2012

LBO: Credit to the state from Sri Lanka's banking system eased in May 2012 and loans to business were back at levels seen before the Central Bank began to sterilize foreign exchange sales last year, official data show. Credit to private sector rose Rs.36.1 billion in May 2012 to Rs.2,215 billion, up 33.5 percent from a year earlier.

Investments through EPF need more transparency - Think tank

Authorities must address criticisms over the adequacy of safeguards when investing in the Colombo Stock Exchange through the Employees’ Provident Fund (EPF) and make the entire process more transparent, according to a statement by a local think tank

Eco-friendly NR plantations can tap vast global funding

Climate change is considered one of the most serious threats to the global environment. Increasing concentrations in the atmosphere of greenhouse gases (GHGs) such as methane, nitrous oxide, hydro fluorocarbons, per-fluorocarbons, sulphur hexafluoride and most importantly, carbon dioxide have been implicated to be the primary reason for global climate change. International concern about this problem led to the establishment of the Inter-governmen

Mobius upbeat on eurozone prospects

In 1987, Mark Mobius told his would-be employers Franklin Templeton that he will head their emerging markets equity fund provided they open their first office in an emerging market country. The group assented to this request and an office in Hong Kong was quickly opened followed by offices in India and other countries in the 1990s. Today, those investments and focus on emerging markets have paid off handsomely for Templeton.

SL attracts less FDIS in 2011 - Report

Sri Lanka attracted approximately US$ 300 million in Foreign Direct Investment (FDI) during 2011, as compared with US$ 478 million and US$ 404 million in 2010 and 2009, according to World Investment Report by UNCTAD (United Nations Conference on Trade and Development)

Greek bond investment losses offset by higher returns - CB

Although Sri Lanka has lost money on investing in Greece bonds, the losses incurred were comfortably offset by higher returns from other investment, the Central Bank said.

Sierra Global brings E-waste program to telecom sector

Sierra Global Network Private Limited has joined hand with Think Green, a licensed company approved by the Central Environmental Authority (CEA) of Sri Lanka for pioneering in providing safe and reliable electronic waste management services in Sri Lanka.

Managing change without pain

What is change management? This is a question you may have heard from colleagues or co-workers in passing or in formal presentations. While many of us ‘know’ intuitively what change management is,...

Common mistakes made when investing in the Primary Market

The Primary Market, also called the New Issue Market, is the market for issuing new securities. The Colombo Stock Market witnessed 18 new share issues last year and four new share issues during the first quarter of 2012.

Amex to offer cardmembers Singapore Grand Prix experience

Special privileges await American Express cardmembers who shop at the World Duty Free (Bandaranaike International Airport) from July 1 to August 31, 2012.

Sri Lanka to sign another ASEAN MOU

In the wake of the successful B2B MoU between Sri Lankan and S’Pore biz last May, is the next ASEAN bilateral B2B invitation – call for fully fledged MoU between Malaysia and Sri Lanka biz.

Aviva to exit 16 units. Is Sri Lanka among them?

Insurer Aviva said it would sell or close 16 underperforming businesses as part of a strategic shake-up aimed at bolstering its finances and reinvigorating its flagging share price, Reuters reported.

Is the American Dream dying?

According to the CEO of Starbucks, it is.  Howard Schultz chose July 4, the American Independence Day, to put his thoughts...

Fitch assigns Sri Lanka at BB- ; outlook stable

Fitch Ratings has affirmed Sri Lanka’s foreign- and local-currency IDRs at ‘BB-’. The outlook for both ratings is stable. The Country Ceiling has also been affirmed at ‘BB-’ and the short-term foreign currency IDR at ‘B’, according to a report from the agency.

BOI signs US$ 3bn deal for world-class tourism zone

The Board of Investment of Sri Lanka (BOI) has signed an agreement with tourism developer Katana City Developments (Pvt) Ltd., to assess and plan Sri Lanka’s first large-scale tourism zone in the Katana area, just adjacent to Colombo’s Bandaranaike International Airport.

Sampath excels at World Finance Awards

Sampath Bank earned yet another accolade in its 25th year by being honored as the Best Banking Group in Sri Lanka at the World Finance Awards held recently. World Finance is a critically acclaimed bi-monthly magazine and website providing in-depth coverage of the financial industry and global economy. Launched in 2007, the World Finance Awards recognize industry leaders in different sectors based on nominations and votes from its readership.

SLI declares staggering Rs. 4 bn Life Insurance bonus to customers

Sri Lanka Insurance declared a Rs4 billion in Life Insurance Bonus  for its policy holders this year endorsing 50 years of trust placed on the Company by the Sri Lankan people. The declaration comes breaking the company’s own record of the highest bonus declared in the industry last year of 3.4 Billion.

Expolanka to construct Rs. 600 mn warehouse facility

The Expolanka Group announced plans to construct a state-of-the-art, iconic, green, warehouse to provide value added logistics services to the group’s rapidly expanding client base.

Tea industry in grievous state - CTEA

No meaningful steps have been taken to accelerate replanting and other development work in the plantation industry, Ceylon Tea Services PLC (CTEA), Chairmansaid.

First 7-star hotel in 2 years

PJ Group’s super luxury hotel, Isle of Agnes, will be completed within the next two years, according to Chairman, PJ Group, Prasanna Jayewardene.