Rubber production falters; Minister calls for crisis forum

Sri Lanka’s Plantation Minister Mahinda Samarasinghe has called for a special stakeholder forum to discuss the present crisis situation faced by the country’s rubber sector originating from lower demand at the international market place.

Asian shares mixed, China data provides lift

Asian markets were mixed yesterday, following a Wall Street sell-off, as oil prices hit a nine-month high on concerns about the growing crisis in Iraq but Hong Kong and Shanghai reversed morning losses following upbeat Chinese data.

Is entrepreneurship recognized and rewarded in Sri Lanka?

There’s something about innovation and entrepreneurship that goes hand-in-hand. While inventions on their own are fine, if they are not tied to fulfilling a practical need, the invention is likely to lie idle. In Sri Lanka, we see many inventors whose stories hit media often.

Sideways move continues with strong foreign buying

Foreign money seems to be flowing into the Colombo Stock Exchange (CSE) listed equities with Rs.3.1 billion worth of shares been bought by overseas investors month to-date in June, while the net foreign purchases thus far for the month was Rs. 2.6 billion.

Proposed Holcim-Lafarge merger: Holcim CEO sees no impact on Lankan operations

The proposed merger between cement majors Holcim and Lafarge is unlikely to have any negative implication on Holcim’s Sri Lankan operations, as the country remains a “strategic market”, a top Holcim official said.

Aitken Spence in US $ 25mn Indian hotel acquisition

Leading leisure sector operator Aitken Spence PLC said it purchased a brand-new five-star hotel with 143 rooms in Chennai for a consideration of US $ 25 million. The acquisition has been carried out through Aitken Spence Hotel Managements (South India) Private Limited.

Problem with plantations

“Plantations are not forests” is a phrase that has been around for many years, but that does not mean that tree plantations are neither good nor bad in them. The benefits or threats of plantations depend on their scale, their objective, the trees planted and the natural and..........

Tourism sector hit by marketing, resource snags

Some core challenges continue to pose threats to the future viability of Sri Lanka’s tourism industry despite positive changes which have brought new opportunities, head of a leading leisure group said.

Implications of Modi’s victory for Indo-Sri Lanka relations

The outcome of LokSabha (lower house of the Indian Parliament) elections on May 16th was unexpected and unprecedented over the last three decades.The outcome of LokSabha (lower house of the Indian Parliament) elections on May 16th was unexpected and......

Middle East investors see SL ‘fertile’ for entry: MTI

The Middle East investors, particularly in the six Gulf States, are increasingly positive about entering and investing into Sri Lanka, according to MTI’s ‘Market Pulse’.

Situational leadership for productivity through people

We saw last week how the two management gurus, Ken Blanchard and Paul Hersey interpreted their secret to success of leadership. Through their popular theory called situational leadership, they advise managers that there is no best style of leadership.

Stock-picking strategies

Aside from having a general understanding of what a company does, you should analyse the characteristics of its industry, such as its growth potential. A mediocre company in a great industry can provide a solid return, while a mediocre company in a poor industry......

Aitken Spence’s B’desh power sector hopes shrink

Aitken Spence PLC, which has interests in hotels, shipping, power and plantations has exited from a proposed thermal power project in Bangladesh with authorities failing to provide suitable land for the plant. However discussions continue in relation to the second project.

China calls SA biz experts to promote new silk route

At the launch of the second China- South Asia Expo in Kungmin, China announced its strategy of implementing ‘Silk Road Economic Belt and 21st Century Maritime Silk Road, facilitating scientific and technological co-operation with South Asian nations such as Sri Lanka.

Does your success define you?

There’s something about success that doesn’t hinge right for some. While achieving success is expected in today’s competitive world, once it is indeed achieved, how do you define it – are you an extension of your success or vice versa?

How and where to spend your training money?

Recently, at a senior executive forum, a CEO asked me to share my experiences of how companies measure the return on investment of their training and development spend. To begin, training is basically the formal activity that generally occurs in a classroom or....

Analysis of nutrient management system in rubber plantations

Until the early 1960s, it was generally accepted that fertilisers were essential for immature rubber, whereas for mature rubber, fertiliser applications were given on an insurance basis. The large variability in yield responses was a major contributing factor in the reluctance to....

Court orders Touchwood winding up

The Commercial High Court yesterday ordered the winding up of Touchwood Investments PLC, for which purpose a liquidator is to be appointed by July 14, to control the assets of the company and dispose them to pay investor dues.

An innovative framework for global climate policy beyond 2015

With the approach of the World Environment Day today (June 5, 2014) much attention is focussed on climate change and its impact on developing countries due to the release of CO2 to the atmosphere with rapid economic development.

Who will own the world in 2050?

“Will the world in 2050 be owned by traders and the super-rich or will it belong to the oil and gas producing countries or Bank of China? questions Thomas Piketty, author of the famous book (2013) ‘Capital in the Twenty-First century’.

Low phosphate output likely to trigger fertilizer shortage

The major fertilizer manufacturing companies in Sri Lanka are currently facing an acute shortage of rock phosphate, a key ingredient used in the manufacturing of fertilizers for tea, rubber and coconut, the industry sources said.

Asia Pacific: Reset for qualitative change

Permeated by many turbulent events in May 2014, East Asia served as the milieu for events from the coup d’état in Thailand, to maritime cooperation for the Indonesia-Vietnam boundary between President Susilo and the Prime Minister of Vietnam,.......

Sri Lanka tries to dispel shadow of war clouding its economy

BBC: Ajith Nivard Cabraal, the Governor of the Central Bank of Sri Lanka, has good reason to be pleased. The bank has achieved much in recent years. Inflation is coming down and is below 5 percent. Interest rates are lower too. Foreign exchange reserves have never been higher,.....

Sri Lanka to host second int’l fund managers forum in October

The Colombo Stock Exchange (CSE) in collaboration with the Securities and Exchange Commission (SEC) is planning to hold Sri Lanka’s second international fund managers forum this October at the Cinnamon Lakeside Hotel.

Lucky Lanka to enter bourse soon with Rs.300mn IPO

Leading dairy products manufacturer Lucky Lanka Milk Processing Company Limited, based in Southern Sri Lanka, is planning to raise approximately Rs.300 million via an initial public offering (IPO) shortly, Mirror Business

Sri Lankan economy remains on target: IMF

The Sri Lankan economy remains on target for 7 percent growth in the short to medium term; however low tax revenue, high public debt and potential climate and external shocks continue to generate down-side risks, according to International Monetary Fund (IMF) Mission Head Todd Schneider.

55 words or 10 phrases customers rarely hear!

When someone thanks you, the courteous and polite reply is, ‘you’re welcome’. If you hold the door open for someone and they say ‘thank you’, respond ‘you’re welcome’. It feels great to hear it and great to say it.

Are our children leadership material?

Recently, Bill and Melinda Gates were highlighted in the media for the normal childhood they were said to be keen to give their children. When you are the richest man in the world, it would be prudent to assume that you would indeed want your children to have a normal childhood...

Govt. to ‘relieve’ state banks from investments in SriLankan airlines

In a bid to strengthen the balance sheets of the main three state banks—Bank of Ceylon, National Savings Bank and People’s Bank, the government has decided to buy back the investments these banks have made in the ailing national career, SriLankan Airlines.

Total govt. debt increases by Rs.793bn in 2013

The total government debt increased to Rs.6793 billion in 2013 from Rs.6000 billion in 2012, according to the 2013 annual report of the Finance and Planning Ministry released yesterday.