Mexican telecom giant Carlos Slim first in world rich list

Mexican shakes up world rich list Mexican telecom giant Carlos Slim has topped Forbes magazine's billionaire's list - the first time since 1994 that an American has not led the rankings. Mr Slim's fortune rose by $18.5bn (£12.4bn) last year to $53.5bn.That beat Microsoft founder Bill Gates ($53bn) into second place, with US investor Warren Buffett ($43bn)...

Jaffna BPO programme draws 4,000 students

An education programme focusing on the Back Process Outsourcing (BPO) in Sri Lanka's North has resulted in the participation of 4,000 students in the mostly O/L (60% of participants) and pre-final A/L categories with girls slightly outnumbering boys, the country's Information and Communication Technology Agency (ICTA) said. At the event Further indicating...

Jaffna trade fair to draw Indian exhibitors too

The Jaffna International Trade Fair 2010(JITF) is being organized by Lanka Exhibition & Conference Services (Pvt) Ltd in collaboration with the Federation of Chambers of Commerce and Industry of Sri Lanka and being held on April 18 to 20 at the Jaffna Central College, Jaffna. Pic shows K. Pooranachandran - Chairman, Chamber of Commerce and Industries...

Tax revenue from Jaffna: IRD targets Rs 100 m

The Inland Revenue Department has received Rs 77 million as income tax from Jaffna in 2009. The Department targets a tax income of Rs 100 million this year from Jaffna as the tourism industry and trading activities have shown a considerable increase. Mahinda Medagoda It expects to open 2,000 new files for Jaffna this year, Inland Revenue Commissioner General...

Infotel in Jaffna experiences Microsoft's Tamil LIP

As part of the company's much admired Gamata IT initiative, and following the launch of its very successful Sinhala Language Interface Pack (LIP) last year, Microsoft Sri Lanka made an amazing impact at the Infotel Exhibition in Jaffna with the launch of the Tamil Language Interface Pack. The pack was also launched as part of the companys efforts to support...

Standard Chartered 2009 operating profit climbs 13% to US$ 5.15bn

Standard Chartered PLC today announced a seventh successive year of record income ($15.18 billion) and operating profit before tax ($5.15 billion) during 2009, demonstrating the underlying strength and momentum across our markets and businesses, despite the ongoing adverse global economic conditions. Our strong liquidity and capital position enabled us...

Sri Lanka employers should have closer dialogue with workers: ILO

Mar 02, 2010 (LBO) – Businesses can ride out economic downturns easier by having stronger relations with their workers through collective bargaining; an approach used countries like in Germany, an International Labour Organization (ILO) official said."Collective bargaining is essential to the survival of business and employment, so it is very important that...

Call to focus on North-East industries

Sri Lanka should focus on developing the industrial sector in the North and East within the next two years, said National Chamber of Commerce of Sri Lanka president Lal De Alwis,The war crippled the economy in the once active industrial zones in those provinces. The number of such companies reduced to 32 from 754.The government and the public institutions should assist the SMEs in areas recovering from the conflict to develop the national...

AVIATION :SriLankan optimistic

SriLankan Airlines is optimistic about this year’s performance and anticipates steady progress in its operational activities.“We are changing the way we fly and the way we experience travel. It is totally a customer oriented approach and a complete uplifting of the products and services. A Sri Lankan aircraft We will use innovation to enhance quality and...

Treasury Secretary optimistic: GSP+ can be revived

To discuss unresolved issues with EU:The effects of the suspension of the GSP+ facility by the European Union will not be felt in the next six months. The European Union has indicated its willingness to discuss unresolved issues to which the Government has responded positively, Finance Ministry Secretary Dr. P.B. Jayasundera told Daily News Business. Finance...

SLBFE branch offices in Jaffna, Vavuniya

The Sri Lanka Bureau of Foreign Employment will set up branch offices in Jaffna and Vavuniya on President Mahinda Rajapaksa's directive, Social Services and Social Welfare Minister Douglas Devananda said. These offices will be made use of for awareness raising and help foreign job seekers, migratory workers and public, in addition to their routine service, the Minister said at a ceremony at his Ministry, Colombo 5 to receive 245 bicycles...

World Bank assists rehabilitation in North

VIEWS (79)The World Bank has allocated US$ 65 million for the Emergency Northern Recovery Project (ENRP) to support the Government's effort to resettle the Internally Displaced People (IDP) in their place of origin in the Northern Province and to assist them with the social, economic and livelihood development. The World Bank will help the Government to assist...

How the Budget Deficit can be reduced

The government economic spokesmen say that the deficit in terms of the GDP is coming down. True but that is not because of any action to reduce expenditure or to increase tax revenue. It is due to the increase in nominal GDP and part of that increase is the inflation component. This ratio is not based on the real GDP but the nominal GDP. As long as we have inflationary growth the ratio could come down. But does this resolve the problem?...

Sri Lanka to invest $ 2 bn. in push to reduce power tariffs

Sri Lanka commissioned its biggest single electricity generator Thursday as part of a two billion dollar investment to reduce tariffs which are among the highest in the world, officials said.President Mahinda Rajapaksa formally linked the 300-mega watt combined cycle power plant at Kerawalapitiya, on the northern edge of Colombo and urged the state-run electricity utility to work towards reducing costs.Rajapaksa said 85 percent of Sri Lanka's...

Tigo becomes etisalat

Etisalat launch : The United Arab Emirate’s telecom giant, etisalat was launched in Sri Lanka with the takeover of Tigo which was Celltel earlier. The launch was at the Water’s Edge yesterday. Here Director/Chief Executive Officer, etisalat Lanka (Pvt) Ltd. Dumindra Ratnayaka and etisalat Chief Marketing Officer, Essa Al Haddad at the launch. Picture by...

SriLankan Airlines staff gets new look

SriLankan Airlines introduced a whole new experience on ground and in the air with a change in the uniforms.The airline unveiled its new uniform for front line staff from cabin to ground crew yesterday. The cabin crew with their new uniforms SriLankan Airlines CEO Manoj Gunawardena said: "We've struggled to stay airborne during the past two years. In the...

Sri Lanka Economic Summit and CACCI Conference

Asian economies are confronted with crucial changes in international economic and financial conditions as a result of the recent global crisis. Renewed inflationary pressures and slackening external demand have created new policy challenges for macroeconomic management, while the sub-prime crisis has refocused attention on financial regulation, supervision...