GlaxoSmithKline (GSK) Pharmaceuticals’ trailblazing new sales force remuneration programme that eliminates individual sales targets, has been successfully implemented in Sri Lanka following execution over the past 18 months in 150 countries in which the global pharmaceuticals giant operates. The new remuneration methodology is based on the core principle that GSK Pharmaceuticals will not link remuneration…
by Anusha Ondaatjie Sri Lanka votes on Monday to pick a new parliament for the second time since the end of a bloody civil war that deterred investors and tourists. The country’s economy has grown an average of 7.4 percent per year in that time, fueled in part by visitors to its beach resorts. Sri…
The parliamentary election in Sri Lanka on Monday has lost much of its geopolitical import because it is no more the ‘Chinese election’ it was meant to be. Actually, Reuters estimates, with a good measure of accuracy, that no matter which of the two electoral fronts wins the election – led respectively by Prime Minister…
Emirates, a global connector of people, places and economies, has announced its plans to launch services to Panama City, beginning 1st February, 2016. The new service will be the longest non-stop flight in the world (17 hours 35 minutes in the Westbound direction) and will be Emirates’ first gateway destination in Central America. Service to…
By Pichayada Promchertchoo, Correspondent, Channel NewsAsia COLOMBO: The Ocean seafood restaurant at Colombo’s five-star The Kingsbury was once famous for its magnificent view of the Indian Ocean. Its open-air wooden terrace that runs along the hotel’s western façade used to be so close to the beautiful coastline that waves lapped the rocks, sending sprays of…
U.S. oil prices fell to a new six-year low Thursday as a combination of worries about global economic growth to a strengthening dollar, increasing crude supplies and a major U.S. refinery outage weighed on the market. Light sweet crude for September delivery fell $1.07, or 2.5%, to $42.23 a barrel, slipping below the low for…
Germany’s famous car-maker Volkswagen has signed an agreement with the Sri Lanka Board of Investment (BOI) to establish a USD 26.5 million investment motorcar assembling plant in the island. This assembling plant is to be set up on a 30 acre land at Kuliyapitiya and would provide some 200 employment opportunities, said the BOI. German…
Sri Lanka raised $172.37 million from the sale of dollar-denominated development bonds on Thursday, the Central Bank said. The Government accepted $78.1 million in bids for 19-month bonds at six-month LIBOR plus a floating rate of 349.47 basis points (bps) after receiving bids worth $118.10 million, the Central Bank said in a statement. It also…
Sri Lanka may be a small economy, but situated along the key Eurasian shipping route, the island country in the Indian Ocean has served as an important transshipment hub. It is also seen as a vital node of the maritime Silk Road under China’s “One Belt, One Road” development strategy. In fact, Sri Lanka and…
James Packer has quit his role as casino company Crown’s chairman, but will remain on the board of the company. Mr Packer is Crown’s majority shareholder, and the company said it intends to appoint him as a senior executive director. The billionaire will also remain co-chairman of the company’s subsidiaries Melco Crown Entertainment in Asia…
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