Latest Sri Lanka News
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Sri Lanka eyes UAE investments
Sri Lanka offers numerous investment opportunities to foreign investors as the country is open for investment in manufacturing, trading, tourism and services sectors, said Industry and Commerce Minister Rishad Bathiudeen. He said it is imperative for Sri Lanka also to attract FDI into the country and take advantage of Sri Lanka's free trade agreements (FTAs) with India and Pakistan to ...
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CMC to implement new garbage program from June 1
by Ranil Wijayapala The Colombo Municipal Council (CMC) is now distributing 200,000 garbage collecting bags among residents in the city to implement the collection of 'separated garbage only' program from June 1, Municipal Commissioner Badrani Jayawardena told the Sunday Observer. She said the CMC started distributing polythene sacks on May 15 in Kirulapone with the help of the ...
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Sentiment Not Fundamentals Drives Bourse
It's sentiment and not fundamentals that's driving the market, a market source said, referring to the gains made by the bourse at Thursday's and Friday's trading, after falling in the first two days of trading last week, and being flat on the third. The gains made by the bourse on Thursday and Friday come in the backdrop of net foreign inflows (NFI) being virtually flat on ...
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Arrested players admit to fixing charges
The Delhi police on Friday confirmed that arrested Rajasthan Royals players Sreesanth and Ankeet Chavan confessed to their involvement in spot-fixing in IPL 6 matches. Chavan reportedly said that he got lured and made a huge mistake. Sources say the transcript shows that Chavan was initially reluctant but later succumbed to the bait as the bookies kept on increasing the inducement. Chavan ...
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To Split Or Not To Split…
The pros and cons of splitting the insurance business cropped up at a seminar in Colombo last week. This was in the context of the insurance regulator mandating the splitting of composite insurance companies separately to that of general insurance and life respectively, to be executed by 2015. Another development is that it is mandated that all insurers will have to list by 2016. The majority ...
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Business Sector Braces For Strike Workers’ Set To Down Tools On Tuesday
Business activities are likely to be severely disrupted owing to the strike that is to take place on May 21. The proposed nationwide strike called for this Tuesday (21) by the Coordinating Committee of a Joint Trade Union Alliance comprising the main opposition UNP and JVP trade unions is to extend to the private and estate sectors along with the public sector. The Committee comprising of over ...
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Per Capita Debt Continues To Skyrocket
The government's continued borrowing at commercial rates has increased the per capita debt to Rs 245,980 by the end of 2011 while the per capita interest component on these loans has increased by Rs 23,153 between 2010 and 2011. The Auditor General in the 2011 Report which was released recently has noted that internal and external borrowings of the government from 2007 to 2011 have been ...
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SL Not In A Position To Capitalise On Bangladesh Opportunity
By Camelia Nathaniel The Bangladesh apparel industry is facing a severe crisis following the collapse of the garment factory building which killed over a thousand people. Workers at other apparel factories have gone on strike demanding safety guarantees and even buyers and retailers are under pressure to extract guarantees on workers' safety. With production likely to fall as a result of ...
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Sri Lanka Beats BRIC But…
By Rohantha Athukorala World Bank ratings of the Doing Business index of 2012 revealed that Sri Lanka has pegged up to number 81 ahead of the BRIC countries and South Asia. To be specific China is at 91, Russia 112, India 132 and Brazil trailing at 140. Hence, post-war the overall ratings picking on Sri Lanka on many fronts is commendable given that almost two thirds of the economy is the ...
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Ceremony held in honour of fallen soldiers
A ceremony was held in honour of the soldiers who sacrificed their lives during the war at the National War Memorial in Sri Jayawardenapura Kotte which the fallen ...
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SLC Combined make it to final
SLC Combined will play in the final of the List A tournament in Pallekele, after making short work of Sri Lanka A in the final round-robin match. Off-spinning allrounder Sachithra Serasinghe took four wickets and effected a run out to help dismiss Sri Lanka A for 176 before returning with the bat to strike a brisk 47 that took his side to the cusp of a six-wicket win. SLC Combined reached their ...
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It’s Time Referees Stood Up For The Sake Of Their Own Safety
THE decision, last Tuesday, of a majority of rugby referees to boycott games involving Science College, no doubt, deals a harmful blow on the game's development. A majority of the country's top referees, including 'internationals' Dilroy Fernando and Nizam Jamaldeen, are signatories to the boycott; it's a logical conclusion that the rest would follow - and so, the season ...
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Super SHOCK Rugby Ref Dilroy Announces Retirement
The local rugby scene was reeling in a state of shock and disbelief on Friday when the country's leading rugby referee Dilroy Fernando announced his retirement from the job that he had graced with honour and integrity and earned a reputation internationally as well. Fernando is expected to officiate as referee for the final time at the Bradby Shield encounter between Trinity College and ...
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Rajans Poised For Unique Achievement
Dharmaraja College Kandy are poised to set an unique record in the ongoing schools rugby season by being the first team to clinch the prestigious A Division Champions title in their very first year after promotion from the 'B' division. In a topsy-turvy season that has featured more than a few upsets the two teams promoted from the 'B' division - Dharmaraja and Wesley have ...
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Football Legend David Beckham To Retire
Legendary football player David Beckham has announced that he will retire from football at the end of this season. Former England captain Beckham, 38, will call it a day after winning the French title with Paris St Germain. Beckham said: "I'm thankful to PSG for giving me the opportunity to continue but I feel now is the right time to finish my career, playing at the highest ...
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Murray Fears Injury May Affect French Open Participation
Andy Murray does not expect to be fit for the French Open after retiring from his second-round match in Rome with a recurrence of a back problem. The world number two took opponent Marcel Granollers and the Internazionalid'Italia crowd by surprise when he pulled out having just levelled the match at 3-6 7-6 (7/5). It looked as if it was just precautionary ahead of the start of the ...
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Iron Man 3 Reaches The Top
Tony Stark's superpowers lifted blockbuster "Iron Man 3" back to the top of movie charts in the United States and Canada, beating out a strong debut last weekend for lavish Jazz Age drama "The Great ...
Sri Lankan Focus
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Sri Lanka sees major tourism industry investment
Sri Lanka’s tourism industry, especially the cruising scene, is getting back on its feet following the war, with significant interest being shown by major cruise lines wanting to schedule Sri Lankan ports on Indian Ocean Cruises, while the local yachting scene is seeing exciting growth and a local cruise industry may be emerging from infancy.
Sri Lanka, following the long and devastating civil war, which lasted around two and a half decades, is now making renewed attempts to redevelop its tourist industry. The industry is extremely import to the economy of Sri Lanka and is a vital part of the country’s access to foreign currency reserves, but saw marked declines in tourist arrivals during periods in which the ongoing civil war was perceived to be increasing in intensity and violence. Read more
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