UPFA wins at local government polls
The ruling party, United People’s Freedom Alliance (UPFA) secured a comfortable victory at the elections held on Saturday for 65 Local Government bodies.
With the 45 local bodies won by the ruling UPFA in the Saturday elections, the Government has the control of 250 local bodies out of the total 335.
Chinthanaya CBK style!
Former President says economic development alone insufficient for peace, unity; stresses political inclusiveness is paramount Claims the state is clearly not adopting inclusivity but rather the opposite Emphasises development should be a scientifically assessed process based on diverse needs of the country rather than the whims of a few selected individuals
By Uditha Jayasinghe
Former President Chandrika Bandaranaike Kumaratunga yesterday strongly urged the political leadership to work towards an inclusive society by giving equal political and other rights to ensure a peaceful as well as an economically prosperous country.
Delivering the Justice K. Palakidnar memorial oration at the Sri Lanka Foundation Institute Kumaratunga recalled the history that led up to the war and criticised many of the actions taken by past leaders.
Harsha challenges Yapa on CATIC deal
UNP MP and its Chief Economic Affairs Spokesman Dr. Harsha de Silva yesterday alleged that Deputy Economic Development Minister Lakshman Yapa Abeywardena was lying on the CATIC deal and threw a challenge for a public debate.
In a statement Dr. de Silva said the State owned ‘National News Agency of Sri Lanka’ Lankapuvath in a 20 July 2011 datelined news item under the heading “Lakshman Yapa refutes Harsha’s allegations” reports that the Acting Minister of Mass Media and Information and Deputy Minister of Economic Development Lakshman Yapa Abeywardena as saying that Parliament approval had been obtained for the now infamous CATIC project.
Bargains in battered bourse?
The Colombo stock market had its worst and most embarrassing sessions last week as Rs. 85 billion in value was wiped off bringing the loss since mid-February peak to a staggering Rs. 281 billion.
The benchmark ASI dropped by 3.54% bringing the year to date negative return to 1.5%. The week also saw ASI relegated to negative return territory for the first time this year. The Milanka Index shed 4.5% increasing its miserable presence in negative territory to near 15% or 14.61%.
ASPI dropped below 6,500 mark on Friday to post a new low since December 2010 while MPI dropped once below 6,000 mark, a new low since September 2010.
Real Time Customer Information on public transport
Volvo technical experts in town to talk with mobile firms
A team of experts from Sweden based global giant Volvo are in town for talks this week on its superior Real Time Customer Information System for public transport.
Sources said that the team will have discussions with Ministry of Transport officials along with representatives from the Sri Lanka Transport Board and Ceylon Government Railway. It will also meet up with representatives of mobile telecom companies.
Browns Investments to have a ball with Excel World takeover
Buys entertainment complex on 6 acres land with 72 year lease for Rs. 1 b
Diversified holding, Browns Investments Ltd., on Friday made its foray into the entertainment industry by acquiring Excel World, the popular facility at Darley Road.
The company had paid nearly Rs. 1 billion for the acquisition of the company and the facility on a six acre plot which enjoys a 72 year lease title.
Excel World, formerly the Millennium Park, is the first theme park set up in Colombo in 2003, and has Game arcades, a food court and various other fun rides. Browns Investments acquired it from Indian born investor and entrepreneur Francis Chokatte.
Browns Investments to debut on CSE tomorrow
Browns Investments Ltd., will be the newest diversified holding to debut on the Colombo Stock Exchange (CSE) tomorrow following its successful Initial Public Offering (IPO) last month.
Approximately 1.86 million shares of the company with security code assigned as “BIL-N-0000” will be listed on the Diri Savi Board of CSE.
SLIA launches Architect 2012
By Devin Jayasundera
The Sri Lanka Institute of Architects (SLIA) launched Architect 2012 and felicitated the stallholders of the Architect 2011 exhibition at the Hotel Taj Samudra, Colombo on Thursday. The theme of Architect 2012 will be ‘Buildings for Economic Development,’ said SLIA President Ranjan Nadesapillai.Architect 2012 is set to take place from 22 to 26 February 2012 at the BMICH. The key component of the exhibition, which is the Members Work and Trade Exhibition, will be open to public from 23 to 26 February. The National Conference of Architects 2012 will be addressed by eminent architects and other personalities in the field.
Cleanco gears up for IPO with MTI strategy
CleanCo Lanka, providers of nation-wide ‘Drive Green’ vehicle emissions testing, completed a business performance consulting initiative with regional business strategy consultancy MTI Consulting.
The extensive project covered corporate risk, governance and marketing communication strategy was augmented by a comprehensive business process engineering initiative.
ISMM’s Continuous Professional Development Seminar on Tuesday
The next in the series of Continuous Professional Development seminars organized by the Seminars and Functions committee of Institute of Supply and Materials Management (ISMM) will be held on July 26 from 6.00 p.m. to 7.30 p.m. at OPA Auditorium.
The topic for Tuesday’s event is 10 key challenges for Sri Lanka and importance of Supply Chain Management and the speaker will be Rohantha Athukorala, who is the Head of National Portfolio Development, Sri Lanka and Maldives, of United Nations (UNOPS). He is also a Board Director of the Export Development Board, Industrial Development Board and the Sri Lanka Tea Board.
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