Earnings from tourism recorded a decline in May 2019 in comparison to the corresponding period of 2018 owing to the drop in the number of tourist arrivals during the month, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. Tourist arrivals in May 2019 was 37,802, registering a year-on-year decline of…
(CNN) — It’s no secret that the British are very serious about their tea. Now a London hotel has taken this dedication to new heights by offering what’s been dubbed the UK’s most expensive cuppa. The Rubens at The Palace is now serving a rare tea blend for £500 ($620) per pot, which works out to around $200…
The Central bank of Sri Lanka yesterday revealed that country’s trade deficit had narrowed significantly in May 2019 in comparison to the corresponding month of the previous year due to the combined effect of an increase in exports and a reduction in imports. The deficit in the trade account narrowed to US dollars 823 million…
The Japanese Grant Aid for Human Resources Development Scholarship (JDS) Programme was introduced in Sri Lanka in 2010 by the Government of Japan in order to provide opportunities to the executive level public sector officials to undergo Master Degree Programmes in prominent universities in Japan. Accordingly, the First Framework (2010-2013) and the Second Framework…
Reuters – Sri Lankan shares rose for the sixth straight session on Wednesday to hit a more than three-month closing high, as diversified and banking stocks gained, while the rupee ended steady. ** The benchmark stock index gained 1.04% to 5,645.65, its highest close since April 4. Markets were closed on Tuesday for a holiday….
(Reuters) – Shippers trying to minimize time in the Middle East after oil tanker attacks pushed up insurance costs are scaling back purchases of marine fuels from the United Arab Emirates’ (UAE) Fujairah oil hub, trade sources said. Instead, they are turning primarily to Singapore, the world’s top refueling hub, to buy marine fuels, also…
What would be the role of businesses in creating a sustainable economic resurgence? Speaking from experience, South African High Commissioner Robina Marks stated that the primary role of businesses is to play an active part in uniting a country, for both their own survival and sustainability, and for the country’s economic development. “Across the world,…
The Annual General Meeting of the PATA Sri Lanka Chapter was held in Colombo recently. The Sri Lanka Chapter facilitates its members within Sri Lanka in conducting their varied businesses within the hospitality sector in a more effective manner adn providing access to international commercial contacts. The key aim is to promote Sri Lanka as…
Man-made terror attacks – like natural disasters – are extreme events and their frequency appears to be rising globally. Examples of highly coordinated attacks include 9/11 in the US in 2001, the Bali Bombings in 2002, 7/7 attacks in London in 2005, and the Paris attacks in 2015. Closer to home, Sri Lanka was hit…
Wafailu Bello, a Nigerian national who is the President/CEO of Bellmari Group and former Group General Manager of Dangote Industries Limited was in Sri Lanka to have B2B meetings with Idea Group Ltd. Wafailu Bello is a brother of Aliko Dangote, world’s wealthiest Black national. The objective of discussions between Sampath Mayakaduwa, Chairman/CEO of Idea…
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