Atchchuvely open!

Published : 12:00 am  August 28, 2014  |  Category: Front Page, TOP STORY  |  1 Comment  |  650 views  |  
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  A post-war milestone was achieved yesterday when the first investment zone in the north, the Atchchuvely Industrial Estate, was opened by Economic Minister Basil Rajapaksa. The Industrial Estate is expected to attract potential investors, from within and outside Sri Lanka, by providing suitable infrastructure and amenities. The main focus will be setting up eight ventures in the zone, which have been selected from 61 applicants. “During the first phase we hope to provide 2,000 jobs,” Traditional Industries and Small Enterprise Development Minister Douglas Devananda told the gathering, which included Northern Chief Minister C.V. Wigneswaran. “Under the second phase the zone... 


Labour target for IT/BPM achievable if companies provide training: Expert

Published : 12:00 am  August 28, 2014  |  Category: Front Page  |  Leave a Comment  |  115 views  |  

Workforce shortages identified as a challenge for the IT/BPM industry reaching its 2022 target can be surmounted if companies are willing to provide training, a top expert said yesterday. Calling for a shift in the manner in which human resources are obtained, AHL Business Solutions Head of Business Systems and Services Deepthie Wickramasuriya said although difficult to attract, great potential exists in the student population to fill the seats. “The perception here is that we lack people to service the sector to take it to the 2022 target, but a recent study states there are people with wider experience available. It is just that most of us try to tap resources that are easily accessible,... 


Abans records 9% revenue increase

Published : 12:00 am  August 28, 2014  |  Category: Front Page  |  Leave a Comment  |  84 views  |  

Abans PLC, market leader in electronics and home appliances and the leading retailer of consumer durables with 400 plus showrooms, has reported revenue of Rs. 25.8 billion and an increase of 9% over last year. In spite of sluggish market conditions, the growth recorded is very encouraging, the company noted in a statement yesterday. In a disclosure released to the Colombo Stock Exchange (CSE), the company has cited that the bottom line was impacted due to preoperational losses and finance costs owing to its planned Mega Mixed Development Project. The company floated a Rs. 2 billion debenture in December 2013 which was oversubscribed, from which funds were utilised to replace short-term borrowing. “The... 


Beauties with a cause

Published : 12:03 am  August 27, 2014  |  Category: Front Page, TOP STORY  |  Leave a Comment  |  817 views  |  
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Sri Lanka yesterday welcomed the 23 pageant finalists of the Miss Universe China pageant on a pre-pageant tour organised by Cinnamon Hotels & Resorts and flown in courtesy of SriLankan Airlines. The tour is a part of the pageant’s official agenda, following regional selections that will culminate in the Grand Finale of the Miss Universe China crowning pageant, scheduled to be held on 13 September in Shanghai. The contingent will be in Sri Lanka till 1 September.  Read More →


Stocks at 3-year high on retail buying

Published : 12:01 am  August 27, 2014  |  Category: Front Page, TOP STORY  |  Leave a Comment  |  715 views  |  

Reuters: Stocks edged up on Tuesday, hovering near three-year highs, led by retail buying in manufacturing and telecommunication shares, while the low interest rates boosted sentiment, brokers said. Analysts say an increase in speculative trading in fundamentally weak shares could dent the healthy growth the index has seen this year. The main stock index ended 0.42%, or 29.29 points firmer, at 7,013.32, its highest close since 18 August 2011. The index has gained 18.61% so far this year. “Big caps are slightly slow today the index is up on some illiquid shares and on retail activity,” said Dimantha Mathew, Manager, Research at First Capital Equities Ltd. The index plummeted more than 20%... 


Pope’s visit to Sri Lanka officially announced

Published : 12:00 am  August 27, 2014  |  Category: Front Page  |  Leave a Comment  |  535 views  |  

Pontiff to visit Madhu Shrine The program of the Pope’s apostolic trip to Sri Lanka, scheduled for January 2015, has officially been announced. The announcement has been made by Archbishop of Colombo Malcolm Cardinal Ranjith. The Pontiff will leave the Vatican on 12 January 2015 and will arrive at the Katunayake International Airport at 9 a.m. on 13 January 2015. Upon arrival he will be escorted to the Bishop’s House first and there he will hold a special discussion with the Bishops. A luncheon will also be held there. On the afternoon of the 13th Pope Francis will meet President Mahinda Rajapaksa. Later on the same day the Pope will attend a cordial gathering with the clerics of other... 


Jaffna wants to tap into tourism boom

Published : 12:00 am  August 27, 2014  |  Category: Front Page  |  Leave a Comment  |  1,009 views  |  

Officials sign agreement for increased domestic tourists but want upgraded facilities for foreign travellers By Shabiya Ali Ahlam Jaffna tourism officials are eyeing a boost of local tourists but insist key development measures need to take place before the north can tap into the lucrative foreign traveller boom in other regions of Sri Lanka. In an effort increase the flow of domestic tourists into the region the Northern Province Tourism Association (NPTA) last week signed an agreement with Lanka Travel Eye. The venture aims at promoting though its website Jaffna and the experiences it has to offer, the association is confident the number of visitors and revisits will increase. With the war... 


Galle Fort ‘Dutch Hospital’ to be opened

Published : 12:00 am  August 27, 2014  |  Category: Front Page  |  Leave a Comment  |  1,627 views  |  

Modern shopping complex with old world charm to enhance landmark in southern town UDA to restore additional historic locations Hot on the heels of the Floating Market opening, the landmark ‘Dutch Hospital’ building within the Galle Fort, refurbished by the Government as an exclusive modern shopping complex while maintaining its old world charm, will be opened this week. Urban Development Authority (UDA) officials who undertook the demanding task of restoring and developing the Galle Dutch Hospital had completed the project, preserving its original architectural aspect said officials. It is to be opened on 28 August. The exterior has been changed to make it a unique and sophisticated building... 


Sri Lanka invites Japanese SMEs to set up manufacturing facilities

Published : 12:00 am  August 27, 2014  |  Category: Front Page  |  Leave a Comment  |  397 views  |  

The private sector has called on Japanese small and medium enterprises to set up shop in Sri Lanka to focus on exports to the Indian and Pakistan markets, utilising the Free Trade Agreements (FTAs) with Sri Lanka. The invitation follows one of Japan’s largest banks, the Bank of Tokyo Mitsubishi, UFJ becoming the first bank to sign a Memorandum of Understanding with the Board of Investment (BOI) in Sri Lanka to encourage Japanese investments. The aim of the agreement is to promote Sri Lanka as an attractive investment destination to the bank’s varied clientele, scattered across several countries. “We wish to extend our invitation to the Japan-Sri Lanka Business Co-operation Committee to... 


22nd Annual NCE Export Awards launched

Published : 11:15 pm  August 26, 2014  |  Category: Front Page  |  Leave a Comment  |  152 views  |  

The National Chamber of Exporters of Sri Lanka (NCE) yesterday launched the 22nd Annual Export Awards, for the benefit of the exporter community. This year too the Chamber received a large number of applications. The quality of applications received were of a high standard which reflects the commitment and keenness of applicants to compete for awards, the NCE said in a statement. The Annual Export Awards conducted by the NCE is a high profile and looked-forward-to event in the business calendar of Sri Lanka. The NCE which is the only Chamber which exclusively serves Sri Lankan exporters, and known as the ‘Voice of the Exporters,’ has been conducting this event without a break since 1993. It... 


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