HSBC extends holiday offers beyond shores of Sri Lanka for credit card customers

Published : 12:00 am  July 9, 2013  |  Category: Travel / Tourism  |  Leave a Comment  |  601 views  |  

HSBC announced its latest partnership with Conrad Koh Samui, belonging to the Hilton Resorts chain in Thailand to offer a luxurious holiday experience to its local Premier customers, thereby taking its popular ‘Cardholder Stays Free’ platform beyond the local shores, from 5 July to 15 September 2013. HSBC Premier Cardholders, can look beyond the majestic sunset over the fabled ‘Five Islands’ of Koh Samui, as they choose to unwind at 14 luxury ocean view two bedroom pool villas and 65 one bedroom ocean view pool villas. Bookings are made easier via HSBC’s Premier concierge service, operative 24/7. Conrad Koh Samui offers an oasis of luxury that expands over 25 lush acres and overlooks... 

Pyxle and help drive home dream vehicles

Published : 12:00 am  July 9, 2013  |  Category: IT / Telecom  |  Leave a Comment  |  4,353 views  |  

Pyxle, the nation’s premier web development and software organization, has engineered a web solution for Cabraal Holdings (Pvt) creating the ultimate online automotive advertising space and consumer information website, Many today research vehicles before buying. provides a total solution through targeting the audience in brand new, unregistered, used and permits cars. Among the many unique features of the platform is where users have access to very detailed information on vehicles displayed including news, views and even videos. The comparison process too is also simplified where overall comparison against other models and makes, features, pricing and even the ability... 

Cinnamon Air takes wing

Published : 12:00 am  July 9, 2013  |  Category: Travel / Tourism  |  Leave a Comment  |  1 views  |  

The official launch of Cinnamon Air and the inauguration of the Waters Edge Water Aerodrome under the auspices of Ministry of Defence and Urban Development Secretary Gotabaya Rajapaksa was held on 4 July. Cinnamon Air will operate amphibious aircraft on scheduled and charter passenger services, directly and on a code-share with Sri Lankan Airlines, to bring convenience, reliability and a unique and exciting product to the local and international travellers. The airline will launch scheduled domestic flights originating at Katunayake, initially operating Cessna 208 amphibious aircraft. It will offer daily flights from the Bandaranaike International Airport (BIA) to Koggala, Dickwella and back. Flights... 

HP upbeat on local IT potential, explores new initiatives

Published : 12:00 am  July 9, 2013  |  Category: IT / Telecom  |  Leave a Comment  |  607 views  |  

 Looking at Sri Lanka as hub to service other countries in AEC region  Launches world’s first software defined web server, the Moonshot  Offers complete spectrum of cloud solutions to local companies By Shabiya Ali Ahlam Bullish over the potential witnessed in Sri Lanka, Hawlett-Packard (HP) officials expressed last week that, given the recent growth in the IT sphere, it is looking for new initiatives in the country. Sri Lanka hosted the HP Annual Partners Conference 2013 for the Asia Emerging Countries (AEC) and Pakistan this year and visiting HP officials noted that they were looking at further building IT in the local community. Speaking at a press conference soon after the two-day... 

Basil recalls need for stability

Published : 1:04 am  July 8, 2013  |  Category: Front Page  |  Leave a Comment  |  843 views  |  

During his speech at the SEC’s Investment Day 2013 on Saturday Chief Guest Economic Development Minister Basil Rajapaksa in a lighter vein recalled that after he inaugurated the last exhibition, two heads left the capital markets regulatory body. “After I opened the last Investment Day, the SEC changes at the top. Like political stability we need stability in capital market as well,” said Minister. The last Investment Day was held on 22 October 2012 and the then SEC Director General Malik Cader moved out in November followed by the resignation of the then Chairperson Indrani Sugathadasa in the same month.  Read More →

Rs.11 b more needed to finance power subsidies

Published : 1:03 am  July 8, 2013  |  Category: TOP STORY  |  Leave a Comment  |  1,208 views  |  

PUC fails to meet regulatory data publication deadlines for transparency , Power crisis in the offing in 2016-2017By Uditha Jayasinghe A top energy expert on Friday noted that despite the Government’s recent electricity price adjustments a further estimated Rs. 11 billion in revenue was needed to finance the announced subsidies. Resource Management Associates Managing Director Dr. Tilak Siyambalapitiya told a seminar on energy conservation hosted by the Ceylon Chamber of Commerce (CCC) that the surcharges announced by the Government when offset by the subsidies, still left a gap of Rs. 11.2 billion. He pointed out that households are given the largest subsidy of Rs. 40.8 billion while religious... 

India says ‘terror’ attack after blasts at Mahabodhi Temple

Published : 1:03 am  July 8, 2013  |  Category: Front Page  |  Leave a Comment  |  1,070 views  |  

REUTERS: A series of explosions in and around Buddhism’s holiest shrine in Bihar injured two persons early on Sunday, in what the Indian Government is describing as a “terror” attack. The Mahabodhi Temple complex is located in Bodh Gaya, the place where the Buddha is believed to have attained enlightenment. “It is a terror attack … no outfit has claimed credit for these attacks,” Junior Home Minister R.P.N. Singh told Times Now television. The explosions, which occurred between 5:30 a.m. and 6 a.m., injured two persons, Bihar Police Chief Abhayanand told reporters in Patna. Union Home Secretary Anil Goswami said four blasts occurred inside the Mahabodhi Temple premises, three... 

Sampur flagged off as inefficient but CEB denies claims

Published : 1:01 am  July 8, 2013  |  Category: Front Page  |  Leave a Comment  |  1,238 views  |  

An official of the Ceylon Electricity Board (CEB) denied that the Sampur power plant has 6% less efficiency than the Norochcholai power plant and insisted that the details still need to be finalised. CEB Corporate Strategy Division Additional General Manager Bandula Thilakasena answering to questions posed by the Daily FT during the Ceylon Chamber of Commerce (CCC) organised seminar, dismissed reports that the Sampur Power Plant would be less efficient that its Chinese-built counterpart. “These are issues that will be discussed at the Power Purchase Agreement (PPA) stage. The plans for the power plant have not yet been finalised and we are still having discussions,” he insisted strenuously,... 

Singapore to usurp Switzerland as top finance hub by 2015: Study

Published : 1:01 am  July 8, 2013  |  Category: Front Page  |  Leave a Comment  |  769 views  |  

Reuters: Singapore will dethrone Switzerland in the next two years as the world’s top centre for managing international funds, a study said on Thursday, as a global tax crackdown and tighter regulation weaken the Alpine nation’s appeal to investors. Switzerland, still the world’s biggest offshore financial centre with $2 trillion in assets, came ahead of rivals Singapore, London, Hong Kong and New York in the 2013 ranking, compiled by PricewaterhouseCoopers as part of its Global Private Banking and Wealth Management Survey. But respondents to the survey, which questioned 200 finance industry professionals from 51 countries, also said they expected Switzerland to lose ground, with Singapore... 

Mathai’s mantra for ‘Wonder of Asia’ goal of Sri Lanka

Published : 1:00 am  July 8, 2013  |  Category: Front Page  |  Leave a Comment  |  1,494 views  |  

By Cheranka Mendis Sri Lanka’s growth at 6.5% maybe a big slow-down from the 8% maintained earlier, but the rate is not bad, said the IMF, albeit the economy could have done much better. The management of the economy in late 2011 when a difference in the exchange rate and a sharp drop of reserves in the Central Bank took place, followed by very sharp policy changes in early 2012, hit the economy quite hard; even though the exchange rate liberalisation, monetary and fiscal tightening worked successfully in terms of stabilising the economy. The growth slowdown which came as a result of these measures is acceptable by global emerging economies standards, although somewhat low in Asian standards. However...