Budget 2012’s impact on the export sector
Proposal: 1. Encouraging export industries
- Devaluation of Sri Lanka Rupee by 3%.
Impact:
- The Sri Lanka Rupee has been appreciating vis-à-vis the competitor countries eroding the competitiveness of our exports. Therefore, the proposed 3% devaluation of the local currency is an encouraging step towards generating more export revenue and maintaining the competitive edge of our exports in the international market.
Organic farming and dining at Cinnamon Lodge
The Cinnamon Lodge Habarana launched an ‘organic’ rice cultivation project yesterday in the hotel’s farm with the participation of the team at Cinnamon Lodge and some guests of the hotel. The treated water from the sewerage treatment plant was used to irrigate these paddy fields and the vegetable cultivation; previously the treated water was discharged to the lake in the compound.
BIA celebrates Christmas with mega Shopping Festival
By Cheranka Mendis
Celebrating the season of good cheer and festivities, Bandaranaike International Airport in Katunayake will launch the BIA Christmas Shopping Festival on 1 December, following the highly successful Christmas festival last year.
Cinnamon Lakeside Colombo rewards long-serving employees
At an elegant awards ceremony recently, Cinnamon Lakeside Colombo General Manager Denis Gruhier recognised the long-serving employees of the hotel.
In total 116 employees were felicitated: 27 members of staff shared the distinction of receiving an award for 25 years of service, 19 were recognised for 20 years of service, another 19 for 15 years of service, five for 10 years of service and 46 for five years of service.
Emirates cancels UK flight
Emirates Airline said yesterday due to the announced strike of the UK Border Control Authority at all UK airports on 30 November, it has unfortunately had to cancel EK029, Dubai to London Heathrow and the returning EK030.
China’s Chery JV takes aim at Europe’s high-end car market
SHANGHAI (Reuters): Chery Quantum Auto Co., a joint venture between Chery Automobile and investment firm Israel Corp, on Monday unveiled the design of its first car, which it hopes will allow it to reverse a trend and export made-in-China cars to Western Europe.
The 50-50 joint venture between Israel Corp and Chery Automobile was set up in 2007. The new brand, called Qoros, is targeting sales in 2013.
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| President and CEO of Toyota Motor Corporation Akio Toyoda (L) shakes hands with Yamaha Motor’s President Hiroyuki Yanagi as they unveil the electronic commuter “EC-Miu” (R) and the electronically power assisted bicycle “PAS WITH” during a pre-Tokyo Motor show reception at its showroom in Tokyo November 28, 2011. Toyota Motor and Yamaha Motor will collaborate in the development of communication-linked next-generation vehicles, Toyota said – Reuters | A model presents Toyota’s concept vehicle Fun-Vii at a pre-Tokyo Motor show reception in a showroom in Tokyo November 28, 2011. The whole body of the concept car can be used as a display space, with the body color and display content changeable at will, and allows the vehicle to function as a terminal for displaying messages or other information, the company said – Reuters |
Daimler pulls plug on loss-making Maybach
FRANKFURT (Reuters): Daimler will axe its Maybach superluxury brand after years of losses and moribund sales, replacing the car with more expensive models of its Mercedes-Benz S-Class flagship saloon starting in 2013.
“We held extensive discussions internally about which way would promise the greatest success in the luxury segment, and we came to the conclusion that the sales chances for the Mercedes brand were better than that of Maybach,” Chief Executive Dieter Zetsche told Frankfurter Allgemeine Zeitung.
US proposes to double auto fuel economy by 2025
WASHINGTON (Reuters): The Obama administration has proposed doubling auto fuel efficiency to 54.5 miles per gallon by 2025, a White House energy priority that has come under scrutiny in Congress.
The plan grew out of an uneasy agreement between the administration, automakers and environmental groups to reduce U.S. dependence on oil imports and cut tailpipe emissions.
Sky to launch dedicated F1 channel
Reuters: Sky television will launch a dedicated pay TV Formula One channel in Britain next year with live coverage of every race in high definition (HD) and without the interruption of advertisements, the broadcaster announced on Friday.
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