Sri Lanka President Mahinda Rajapaksa who presented the Budget for 2015 in Parliament in his capacity as the Minister of Finance and Planning on Friday announced a wide array of proposals which are targeted at reducing the cost of living. Outlining proposals with a vision to convert Sri Lanka to a middle-income economy by the year 2020, where a US$ 7,500 per capita income is to be achieved, the President proposed that the
The 35th National Conference of Chartered Accountants was held under the patronage of South African High Commissioner (HC) to Sri Lanka Geoff Q.M. Doidge at Water’s Edge in Battaramulla last week. The two-day event organized by CA Sri Lanka drew over 1,200 accountants and business leaders. Pictured are the HC and his wife, CA Sri Lanka President, Arjuna Herath
The Tourism Hotels Association of Sri Lanka (THASL) is presently in the process of evaluating the possibility of having a secretariat headed by a CEO to provide more value to its membership, the outgoing Chairman of the Association said recently. Addressing the 49th Annual General Meeting (AGM) of THASL, Jayantissa Kehelpannala said that during the past year, THASL acquired the services of a consulting company
Although under the present monetary targeting framework, Sri Lanka’s monetary authority, the Central Bank of Sri Lanka (CBSL) has been able to reduce and maintain inflation at single digit levels for more than five years, a stronger monetary policy framework, such as flexible inflation targeting will help consolidate achievements so far, a top official opined last week. Delivering a presentation at
The Central Bank of Sri Lanka (CB) last week clarified that there is no retrospective applicability of the law for the new Land (Restrictions on Alienation) Act that was passed by the Parliament on October 20, 2014 as the rules that have now been enacted had already been in place since January 2013. Issuing an Explanatory Note regarding the New Law on Transfers of Land and Leasing of
Sri Lanka Telecom (SLT) last week announced it has connected Delft Island, located in the East of the Jaffna Peninsula, to the country’s National ICT Backbone as one of the major post-war ICT development in the Northern Province. Delft Island has been identified by the Government of Sri Lanka as one of the key tourist attraction destinations as well as a key location in the country.
Sri Lanka Association for Software and Service Companies (SLASSCOM) on Friday said that it would, along with the support of other agencies, take an industry initiative towards inclusive growth and reconciliation by hosting the ‘Jaffna IT Week’ from December 3 to 6, 2014. The event is to be supported by the Export Development Board (EDB),
The final outcome of a project to estimate population densities, individual characteristics, family unit compositions, foraging behavior and habitat ranges of Sri Lanka’s rare sloth bear population are to be unveiled at a public discussion next week.
Based on the findings of Phase I, a presentation and interactive discussion titled ‘The Sri Lankan Sloth Bear: Recent Findings from Wilpattu’
Colombo stock market started weekly operations on negative note where both indices shed returns gained. Core index declined by 21.02 index points or 0.29% to close at 7,213.45 and S&P SL20 index decreased by 21.39 index points (-0.53%) to close at 4,008.16. Daily market turnover failed to cross the LKR 1bn mark after 33 sessions and recorded LKR 864mn. Seylan Bank topped the turnover
The Management of SriLankan Airlines sealed a new productivity based collective agreement with the Sri Lanka Nidahas Sevaka Sangamaya (SLNSS), for a period of three years (2014-2017) with the aim of providing enhanced incentives and benefits for the SriLankan employees.The agreement comes into being when the Airline is embarking on a new journey with its wide-body fleet, renewal starting from
Altair, the iconic twin-tower high-rise luxury condominium development that will dramatically transform Colombo’s skyline over the next three years, recently extended its marketing efforts to the large Sri Lankan community in Australia at two events in Melbourne.
The Board of Investment of Sri Lanka participated at CEATEC JAPAN 2014 exhibition which was held in Tokyo Japan from October 7 to 11, 2014. CEATEC JAPAN is a comprehensive exhibition of cutting-edge IT and electronics that provides information to a wide range of users including people in business, both inside Japan and internationally, by presenting the world's cutting-edge technologies, products and services, all
Ganesan Ampalavanar, currently Managing Director of Nestlé Lanka PLC, will assume the position of Managing Director of Nestlé - Vietnam with effect from February 1, 2015. Ampalavanar joined Nestlé in his home country of Malaysia as a Management Trainee in 1991. His career covered increasingly responsible roles in Marketing and Sales, culminating in his appointment as Sales Director in Malaysia in 2003.
Renuka Shaw Wallace PLC, subsidiary of diversified conglomerate Renuka Holdings PLC, rebranded its identity as Renuka Foods PLC, to better reflect the Food and Beverage category it operates in, locally and internationally. Renuka Foods PLC is the parent company for the Group’s food and beverage entities, namely Renuka Agri Foods PLC, Renuka Organics (Pvt) Ltd, Renuka Teas Ceylon (Pvt)
The Ceylon Chamber of Commerce will hold a post budget seminar at the end of this month to discuss the ‘National Budget of 2015’, which was presented in Parliament on October 24, 2014.As customary every year, The Chamber will line up top government officials, senior tax consultants and corporate executives as panelists to brief the Private Sector operational staff on all aspects of
The Colombo Stock Exchange (CSE) has approved in principle an application for listing the debt securities of Merchant Bank of Sri Lanka PLC. Details of the above issue are as follows, debt securities to be offered: 20 million unsecured redeemable debentures at an issue price of Rs.100.00 each. Date of opening of the subscription list is November 05, 2014. A disclosure filed with the CSE
Top personality development and corporate etiquette training consultant Nedra Wickremesinghe launches her first public seminar from her new school, Arden Institute, which opened its doors recently at its newly refurbished location at Charles Circus, Colombo 3.
The new seminar to be held at Cinnamon Grand at the end of this month is titled “Executive Image”
The National Mobile Service Provider, Sri Lanka Telecom Mobitel, in partnership with Sports 1st recently announced the launch of Platinum Awards 2014, an award ceremony benchmarked as the pinnacle of sporting achievements. The Platinum Awards will Reward and Recognize Sri Lankan sports stars for their efforts in keeping the passion of sports alive in the hearts of millions of Sri Lankans.
The Finals of “Cook for your Heart” cookery competition, organized by Abans & Philips, was held on Saturday October 4, 2014 at Abans Kollupitiya Elite Showroom amidst a large audience of health conscious people. This program was initiated to mark World Heart Day.Through regular advertisements in the print and electronic media, over a period of more than a month,
Singer (Sri Lanka), the country’s number one consumer durables retailer, recently gave away Singer X Series notebooks to each of the top 10 Grade 5 scholarship winners. The prize-giving was organized by the Sri Lanka Rupavahini Corporation (SLRC) in order to celebrate the achievements of the country’s best Grade 5 students.