ICASL, CBS and ACCA to educate Sri Lanka on IFRS
The Institute of Chartered Accountants of Sri Lanka (ICASL) together with the Centre for Banking Studies (CBS) and the Association of Chartered Certified Accountants (ACCA) of Sri Lanka having understood the significance of financial reporting will conduct a comprehensive series of seminar on International Financial Reporting Standards (IFRS).
US Treasury says China not manipulating currency
Reuters) – The U.S. Treasury Department ruled on Friday China was not manipulating its currency to gain an unfair trade advantage, but said Beijing still needs to quicken the pace of appreciation.
“Treasury’s view … is that progress thus far is insufficient and that more rapid progress is needed,” the department said in its semiannual report.
The report had originally been due on April 15 but was delayed ahead of a key meeting with senior Chinese officials in Washington earlier this month.
Pan Asia Bank opens in Kalubowila
Pan Asia bank opened its 47th Branch in Kalubowila on 26 May 2011 at No. 46/A, S.De. S.Jayasinghe Mawatha, Kalubowila.
The inauguration of the new branch was marked by the chief guest A. G. Weerasinghe Chairman of Pan Asia Bank and the guest of honour Dhanasiri Amarathunge, former deputy mayor of Dehiwala-Mt. Lavinia Municipal Council.
The Bradby Shield
Unless you have been on another planet or hiding under a rock you would have known that the Bradby first leg was on 28 May up at the Bogambara stadium in Kandy. In Colombo Friday was a rather relaxed day with many schools as well as public offices being closed in view of the victory day celebrations. Whether the general public was interested in these celebrations given the disruption in traffic during the past week is another matter.
This then gave a majority of the rugby loving fans a chance to make it to Kandy a day earlier and the many class reunions arranged bear testimony to the popularity of the trip to the hills. After all the Vesak holidays working a full five days must have been a little chaotic to some, whilst very welcome to the others.
Delta, Air France-KLM and Alitalia to reduce trans-Atlantic capacity
The members of the trans-Atlantic joint venture – Delta, Air France-KLM and Alitalia – have confirmed a year-on-year 7 to 9% reduction in trans-Atlantic passenger capacity this fall between Europe and the United States and Canada, as the airlines respond to a significant increase in jet fuel prices and fluctuating seasonal demand.
Banks must focus on capacity building – Chandula
By Cheranka Mendis
Sri Lankan banking sector, now poised for inevitable growth must focus on building capacity and forming an inclusive growth in the economy. The banking sector which recorded growth in the first quarter of the year now has to plan for the future and that planning must include capacity building within the country.
Deputy General Manager (Marketing and Retail Banking) of Hatton National Bank (HNB) Chandula Abeywickrema speaking to the Daily FT stated that in the light of development taking place in Sri Lanka, banks and other institutions need to focus significantly on capacity building requirements.
FDI: Not a strategy to be downplayed
An interesting open forum was held last week in Colombo on ‘Foreign Direct Investment for Growth and Equity in Sri Lanka’ under the patronage of the Sri Lanka Economic Association or SLEA and Germany’s Friedrich Ebert Stiftung. The Session Chair, Professor A.D.V.de S Indraratna, SLEA’s Chairman, opened the forum highlighting the country’s current development needs and the importance of using foreign direct investments or FDIs in filling the wide savings – investment gap in the country.
A call to transform
SITA shows Sri Lanka the new way to fly
By Cheranka Mendis
Aviation industry is fast making its way to become a top priority in the world economy today. A global industry, aviation has been recognised as one with huge growth across regions with Asia Pacific being a key destination. With the growth forecasted, more airports are being added to the world map and more fleets are being acquired by airlines; however airports and airlines must also focus on passenger experience as the growth predominately relies on the end consumer.
Nadal calls for two-year rolling ranking system
(Reuters) – World number one Rafa Nadal called on tennis authorities to enforce a two-year rolling ranking system to preserve the health of players.
Nadal said the change from a one-year rolling ranking system would not only protect players from burning out but would also ensure that athletes coming back from long injury layoffs would not to lose too many ranking points.
NSB takes new approach in Annual Report 2010
Carrying the theme of ‘People serving People’, the Annual Report 2010 of the National Savings Bank was released recently.
The Annual Report consisting of four major sections, opens with the Chairman’s and General Manager’s statements which are written in a concise manner and also in a very readable language.
Speaking about the Annual Report NSB Chairman Pradeep Kariyawasam said:
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