• By Uditha Jayasinghe Sri Lanka’s tourism industry has been riding a record-breaking surge of Chinese tourists, which has helped fuel a building boom of new restaurants, resorts and casinos. With China’s economy now stumbling, industry insiders in the South Asian island nation are wondering whether the five-year old wave is about to recede. “We…
Former Central Banker, Dr. Anila Dias Bandaranayake has been chosen by the Ceylon Chamber of Commerce to head the evaluation panel of the ‘Best Corporate Citizen Sustainability Award 2015’, which is now in the process of accepting applications from prospective companies. Bandaranayake, a former assistant governor of the Central Bank has also functioned as the…
Colombo bourse extended the losses for the second consecutive session as foreign investors resumed selling amid concerns over bleak outlook in emerging markets. The inaugural sitting of the 8th parliament failed to uplift the domestic investor sentiment and the wait and see approach of investors caused the ASI to retrace to the support level at…
While delivering the government’s policy statement in Parliament this afternoon (01 September), President Maithripala Sirisena made a request from intellectuals who had left Sri Lanka for greener pastures to return to the island and serve their motherland. He added that a red carpet welcome awaits those who thus return to Sri Lanka. Apart from this,…
Private sector borrowings in Sri Lanka during the first six months of 2015 have grown by Rs. 205 billion as compared to the same period last year, reveals latest date released by the Central Bank of Sri Lanka. During the first six months of 2014, private sector borrowings had dropped by Rs. 53 billion as…
India’s economy grew at an annual rate of 7% between April and June, official figures have shown. This is slower than the 7.5% growth recorded for the previous quarter, and lower than expected. India and China – which also posted 7% growth in the second quarter – are now the joint fastest growing major economies…
The Central Bank of Sri Lanka (CBSL) has decided to continue unchanged its policy interest rates which decide the interest rates of commercial banks. Thus, it would continue at the 6.00 and 7.50 per cent level. Meanwhile, the Monetary Board of the CBSL has decided to continue the Statuary Reserve Ration at 6.00 per cent….
Mariah Carey is not expecting her third child, despite reports to the contrary. A rep for the “We Belong Together” singer has responded to a rumor that the songstress is pregnant with boyfriend James Packer’s baby. ET has confirmed that Mariah, 45, is not with child. The pregnancy rumors began to swirl on Monday when…
At a time when developing countries are struggling with safe disposal of compact fluorescent lamps (CFLs), Sri Lanka is leading by example. Pitipana, a small town 35 km from the capital Colombo, is home to South Asia’s first CFL recycling plant, Asia Recycling. The plant is owned by Orange Electric, which has a local market…
Sri Lanka’s brand new motor vehicle importing companies have introduced a code of conduct to minimize the problems faced by tem and to enhance their images. This code of conduct was made public at the 95th annual conference of the Ceylon Motor Traders’ Association. Commenting on this venture, the association’s president Gihan Pilapitiya said that…
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