Microsoft supports SL’s ‘Nenasala’ IT education
César Cernuda, President of Microsoft Asia Pacific, who was on a 2-day official visit to Colombo, met with a number of Government officials and the Information and Communication Technology Agency (ICTA) to discuss how the software company can further align with the Sri Lanka Government’s plan to make the country the IT hub in the [...]
Moratuwa University offers courses on evolving disciplines like petrochemicals
Leading international tech institute, Sri Lanka’s University of Moratuwa has started establishing courses in evolving disciplines such as advanced electronics, petrochemicals, mechatronics and aeronautics, according to the university’s Vice Chancellor Prof. Ananda Jayawardana. Further, he said that, while courses such as electronic and telecommunication engineering were still the most demanded, due to the high salaries [...]
Cracks appear in Finance Ministry over presidential election spending
Cracks are appearing in the Finance Ministry over possible pressure on officials to resort to extravagant pre-polls spending. Pressure is being exerted by officials on the Treasury Secretary to direct heads of Finance Ministry divisions to adhere to administration and financial regulations in monitoring the spending and handling of state resources by institutions coming under [...]
Google ‘Maps’ launches SL project to show people shops, where they live
Google’s ‘Street View’ project which was launched in Sri Lanka on Thursday and due to start in Jaffna, Matara and Arugam Bay, is undertaken free of charge in all countries, according to Sana Rahman, Communications Manager – Google Southeast Asia. Ms. Rahman, responding to a set of email questions soon after the project was launched [...]
DFCC-NDB merger on hold in view of polls
The merger between the National Development Bank (NDB) and Development Finance Corporation (DFCC) Bank has been temporarily halted till the conclusion of the January 8 presidential poll due to ‘procedural’ matters relating to the gazette notification, official sources said. The two banks are being merged under this year’s budget with the banks jointly hiring a [...]
Six million tourists travel within Sri Lanka
While more than one million foreigners visit Sri Lanka as tourists, six million Sri Lankans travel within the country as domestic tourists, a top local official said. Dr. D.S. Jayaweera, Director General of the Sri Lanka Tourism Development Authority (SLTDA), told a Google event in Colombo on Thursday that the number of locals categorised as [...]
‘Right to Information’ has become the domain of the President
The Right to Information of the Sri Lankan people has become the domain of President Mahinda Rajapaksa, according to an eminent rights defender, and thus it is now in limbo. Elmore M. Perera, a former President, Organization of Professional Associations (OPA) expressed this view while speaking as the Chief Guest at the National Integrity Award [...]
Google SL’s Rohan Jayaweera joins Micro image Mobile Media
Rohan Jayaweera, former country consultant to Google – Sri Lanka, has joined Microimage Mobile Media as the Chief Operating Officer. Mr. Jayaweera, according to a Microimage announcement on Tuesday, was the first representative for Google in Sri Lanka where he drove all initiatives to and from Sri Lanka. Prior to Google he worked in Singapore [...]
Tropic of Linen to open boutique in Colombo
Home-grown clothing label, Tropic of Linen, opened a new boutique in Colombo yesterday. Specialising in premium linen apparel for men and women, Tropic of Linen has been retailing at the Orchid House, at the historic Galle Fort heritage site, for over seven years. However the opening of the Colombo boutique, situated at No. 1 Wijerama [...]
CEAT initiates novel seasonal CSR project
Sri Lanka’s top tyre brand CEAT is harnessing the power of social media this festive season to campaign against ‘driving under the influence.’ A link that went live on CEAT’s facebook page (www.facebook.com/CeatLK), and the company’s website (www.ceatpledge.com) on December 5, enables visitors to make an online pledge to drive sober via facebook or Twitter, [...]
SL’s GDP worth $67 bln just a fraction of Shell group’s sales of $451bln in 2013
“If you do not the grasp the ‘first principles’ you will never be a good lawyer and a lawyer without history or literature is a mere mechanic. But a lawyer who acquires some knowledge of history is entitled to be called himself an architect,” said Dr. Wickrama Weerasooria, law teacher and former public servant, who [...]
CB workers call off protest over pension rights
Central Bank (CB) workers, employed since January 1998, called off a protest on Friday over pension rights on assurances by the management that their issue would be sorted out. The ‘leaflet’ protest began earlier this week. Unions at state banks have been campaigning for pension rights and revoking a late 1990s circular by the Finance [...]
12 % interest offer to senior citizens with restrictions
The recent budget offer of 12 per cent interest on deposits held by senior citizens, aged 60 years and over, in state banks is being restricted to a cap of Rs.1 million and strictly one account per person, bankers said. The Central Bank (CB) has directed that applicants should make a declaration that they have [...]
MTI’s 5- question poser to presidential candidates
International strategy consultancy MTI, as part of its continuous thought leadership initiative, has identified what it believes are the ’5-most’ economically pressing questions for the presidential candidates”. They are: – What really is our competitive advantage as a nation? Which sectors should we focus on – given our capabilities and the global opportunities? How can [...]
Real Estate Market Update: Roaring Rajagiriya
Located on the border of the Colombo Municipal Council area, Rajagirya, according to the latest research by the Research intelligence unit (RIU), has showed remarkable acceleration in property prices over recent years. Moreover, the future is set to see this area gather in further property price momentum as investors and private residents flock to get [...]
Vote to abolish presidency: A message for non-voters
Most of our hardworking, honest, peace loving citizens of this country are frustrated with our system of governance, and would be considering going to the polls as a waste of time. However disgusted you are, abstaining from vote is not the solution. It has never worked in the world especially when greedy, cunning politicians were [...]
Flinging stones from glass houses
With the run-up to Sri Lanka’s presidential elections intensifying, candidates, political parties and their supporters are getting into the battle with Colombo’s ‘elite’ civil society forces also joining the bandwagon. While the presidential candidates are shouting themselves hoarse from public platforms and promising to move heaven and the earth to deliver the ‘goods’, human rights [...]
Over 90 Sri Lankan academics urge ‘free and fair’ poll
Over 90 academics from eight universities across Sri Lanka and some from abroad have issued a firm but emotional appeal to the Elections Commissioner to ensure a free and fair election and to “intervene forcefully to prevent the violation of election laws and ensure the safety of all parties concerned”. In a joint declaration, the [...]
Milco begins making profits with prudent turnaround strategy
State owned dairy company, Milco (Pvt) Ltd has begun making profits with the increase in sales of milk products as a result of pragmatic initiatives taken by the firm along with budgetary support of over Rs.980 million from the Treasury in 2012 and 2013 officials said. The 2015 budget has made an allocation of Rs. [...]
NDB Capital Holdings continues to grow while supporting capital markets
NDB Capital Holdings PLC (NCAP) continued its growth momentum in the first nine months of 2014 helped by efficient investment management strategies amidst a buoyant stock market and declining interest rates. The company said in a media announcement that it recorded a profit of Rs. 261 million for 2014-Q3, up from Rs. 125 million a [...]
Janet Lanka secures interim injunction in trademark battle against ODEL
Janet Lanka (Pvt) Ltd, a Sri Lankan pioneer in the manufacture of personal care and beauty products, recently won an interim injunction against retail store giant ODEL PLC in a dispute over trademarks – ‘LuvEsence’ and ‘LUV SL’. Janet, the smaller firm owning the ‘LuvEsence’ brand, had instituted action against ODEL in the Commercial High [...]
Leading global IT services provider, Newgen Software signs up with Just in Time group
Just in Time Group, a Sri Lankan-owned group involved in ICT systems integration, recently signed up with a leading Global provider of Business Process Management (BPM) solutions, Newgen Software, as a strategic partner. The inauguration of this strategic partnership was marked with a forum on ‘Leadership in Emerging Trends of Credit and Trade operations’ which [...]
China lent $110 bln to developing countries in 2009-10, much more than the WB during the same period
A cross section of Sri Lankan businessmen gathered in Colombo recently to discover the intricacies of doing business with China based on a thorough study titled ‘Doing Business with China, FTA and Beyond’. One of the main revelations in how to do business with the China was that trade is not necessarily the most important [...]
US$820 mln in ICT exports projected for 2014 – EDB
Sri Lanka’s ICT sector exports have already reached US$ 719 million, with $820 million projected to be total ICT exports for 2014, according to Saman Maldeni, Director for Export Services at the Export Development Board (EDB), quoted in a statement. Further, he also added that the local ICT industry was on track to achieve its [...]
Sri Lanka embarks on a countrywide multi model integrated transportation hub system
With the aim of meeting the transportation needs of all public commuters under one roof, Sri Lanka has embarked on an ambitious, country-wide programme to construct efficient, comfortable multi model transport terminals connecting trains, buses, bus rapi transit system, (BRT), monorail, taxi, and 3-wheeler services. The first such mini terminal is to be opened at [...]
Optima celebrates its first anniversary
Optima Designs, a design house that began operations last year, recently completed its first anniversary after a year in which it liaised with a diverse clientele on annual reports, prospectuses, profiles, coffee table books and year-end material, in creting stylish and innovative designs that reflect the identity and requirements of the project. Director CEO Anjum [...]
Leo Burnett Sri Lanka, most awarded agency at the South Asia Agency of the Year Awards 2014
Leo Burnett Solutions Inc (LBSI) won the most number of awards by a single agency at the Campaign Asia’s prestigious South Asia Agency of the Year Awards 2014. LBSI and its PR arm Arc Worldwide won gold for Best Corporate Communications Team of the Year and a bronze for PR Agency of the Year, LBSI [...]
SL a role model for the accounting profession, says CA Chief Arjuna Herath
The foremost and basic criteria for investment (in any country including Sri Lanka), is the existence of a universally acceptable accounting framework and this is fundamental for the investors to make a reliable assessment of investment opportunities and to monitor performance of their investments. “Today this requirement is well entrenched in our country providing a [...]
Child Development Officers boost childcare standards in plantations
Children in estates managed by Regional Plantation Companies (RPCs) are now cared for by trained 1,350 Child Development Officers (CDOs), 563 of them with nationally-recognised diplomas. These Child Development Officers have contributed to marked improvements in child nutrition and health, school attendance, pre-school education standards, attendance of children at Child Development Centres, knowledge of parents [...]
HSBC appoints new Head of Payments and Cash Management for Sri Lanka, Maldives
Dineth Nanayakkara has been appointed as Head of Payments and Cash Management for HSBC in Sri Lanka where he will be responsible for delivering global cash and liquidity management services and products to corporates and financial institutions, the bank said on Wednesday. Mr. Nanayakkara will report locally to Chamira Wijetilleke, Head of Commercial Banking for [...]
‘Bit of’ dictatorship and militarisation needed for Sri Lanka’s growth, Weerawansa says
The one time warrior who advocated liberation of the country through revolution, now a Minister of the government, has taken a sharp turn in his ideology and says that to develop a country there should be strong leadership with a flavour of dictatorship with a taint of militarisation. Wimal Weerawansa, Minister of Construction, Engineering Services, [...]
Dr. Mike’s Ranch promotes ‘agri-tourism’ in Sri Lanka
An agricultural farm started two years ago at Palagama, a small village in Polgasovita, by a Sri Lankan doctor domiciled in the United States is not just for growing green leaves (keera) any more. Today this 15 acre ‘keera koratuva (green leaves plot)’ popularly known as ‘Dr. Mike’s Ranch’ has been transformed to an ambitious [...]
SriLankan Airlines launches operations in ‘spring city’ in China
There had been a massive increase in tourists from China to Sri Lanka in 2014, with the country recording 117,766 in January-November, up by 137.6 per cent from the 2013 period figures when compared with 9,000 in 2011 and the plan now is to increase this number by five-fold with the launch of SriLankan Airlines [...]
During pre-2009 crisis times, Western tourists kept Sri Lanka’s flag flying
Tourism in Sri Lanka has gone to a different level in recent times with dependence no longer on the West while the Indians and Chinese are arriving in large numbers, a top Sri Lankan hotelier said. Hiran Cooray, Chairman of Jetwing Group also noted that visitors from Arab nations or from the Middle East are [...]
Indian amusement industry delegation visits Colombo to explore opportunities
A 15-member delegation representing India’s growing ‘amusement’ industry visited Sri Lanka this week to find potential local partners to set up facilities on the island. An initiative of the Ceylon Chamber of Commerce, the delegation held meetings with potential local partners at the chamber premises in Navam Mawatha, where they met local businessmen, who are [...]
Ceylinco Insurance directors accused in local court action of siphoning out funds
Global Rubber Industries (GRI), the second largest shareholder of Ceylinco Insurance in a petition filed before the Commercial High Court, has alleged that the Directors of Ceylinco Insurance are siphoning funds from the company and asked court to appoint auditors to conduct a forensic audit. When the case was taken up for hearing at the [...]
Europa Lighting marks 1st successful year in SL
Local lighting supplier Europa has already delivered solutions to OZO hotels, in Colombo and Kandy, Street 360, Ginger Restaurant, ORO 1899 Italian Restaurant, RNB Night Club, W Lounge, BED Hostel, Cape Weligama, Anilana Pasikuda and the Chinese Embassy in Sri Lanka since entering the market just one year ago, according to a statement. Further, other [...]
Claims in the Touchwood winding up case totals Rs.3.3 bln
The Liquidator in the winding up application of Touchwood Investments informed the Commercial High Court last week that he has discovered more assets of the company and a comprehensive report on this will be submitted. Counsel for the Liquidator quoting an interim report by the latter said that several transactions carried out by the company [...]
