ADB says committed to help develop Lanka’s capital market

The Asian Devel-opment Bank (ADB) on Tuesday expressed its willingness to help implement reforms to make Sri Lanka’s capital market vibrant and a catalyst to further economic progress in Sri Lanka.
“We are committed to helping implement the capital market reforms to promote the development of equity and debt markets,” ADB Country Director Rita O’Sullivan told a capital markets conference organised by UTO EduConsult Ltd.

Aitken Spence printing first to be LEED (Gold) certified

Industry leader Aitken Spence printing’s state-of-the-art new printing facility was awarded the LEED (Gold) certification recently, making it the first in this Region and the one of the very few of its kind the world to receive the international benchmark for leadership in energy and environmental design.

SMS usage set to fall in Asian markets as smart phones grow WhatsApp

Asian mobile operators are likely to see sharp falls in short message service (SMS) revenues as subscribers shift to services like WhatsApp which allow unlimited texting, an economic research consultancy has said.

"As a testament of SMS's rapidly declining popularity in developed countries, Hong Kong's Office of the Communications Authority (OFCA) reported a drastic decrease in the number of messages sent and received on January 1 2013," a report by Business Monitor International, a UK based consultancy said."This, coupled with WhatsApp's claim that it processed 18bn messages on December 31 2012, highlights the need for mobile operators to devise new strategies to counter the threat of over-the-top (OTT) service providers."

How John Lewis keeps making so much money

John Lewis had its best ever Christmas in 2012. In fact it had its best ever week too – with sales smashing through £150 million for the first time.

Over the week before Christmas takings at its 39 stores and website hit £157.8 million, a 26.5% increase on the same week in 2011.

Pregnant Kim Kardashian rubbishes claims baby is for publicity

It's fair to say Kim Kardashian and Kanye West have had a fair bit of attention since they announced on New Year's Eve that they were expecting a baby.

Kim Kardashian has rubbished claims the baby is for publicity. Copyright [Rex]

But faced with online accusations from cynics it's all part of a money-making plan, reality TV star Kim Kardashian has rubbished claims she's having her baby for publicity.

Novice unearths huge gold nugget Down Under

An amateur prospector has made the find of a lifetime in southern Australia, unearthing a gold nugget weighing about five kilograms (11 pounds) just outside the town of Ballarat, reports said.

The Y-shaped deposit was found with a hand-held metal detector at a depth of a little over 60 centimetres (24 inches), according to a video of the find posted on YouTube.

"The prospector said it sounded like the bonnet of a car through the headphones," wrote TroyAurum, who uploaded the video.

Dhammika appointed Honorary Consul of Republic of Senegal

The President of the Republic of Senegal Macky Sall has appointed Dhammika Perera as the Honorary Consul of the Republic of Senegal in Sri Lanka, recently. The appointment has been approved by President Mahinda Rajapaksa.
Renowned for his business acumen, Perera has commercial interests in a wide range of sectors including banking and financial services, power and energy, leisure, manufacturing and diversified holdings.

Sri Lanka Chief Justice remains in office: lawyers grouping

Sri Lanka's Chief Justice Shirani Bandaranayaka remains in office, a group of lawyers has said, while her own reaction to a presidential order sacking her is not yet known.

Bandaranayake has rejected a last minute offer by the administration to retire with full benefits, Sri Lanka's The Islandnewspaper said.

Sri Lanka's bank credit to business, state grows in November

Sri Lanka's commercial banks loaned 24.1 billion rupees to business in November 2012, with the state also borrowing another 18.8 billion rupees, official data showed.

Credit to private business rose 20.7 percent to 2,348.5 billion rupees in November 2012 from a year earlier, Central Bank data showed.

Sri Lanka EDEX exhibition to showcase career paths

Sri Lanka's EDEX 2013 exposition will showcase career and further education opportunities for school leavers with over 350 employers and educational institutes exhibiting, officials said.

The exhibition will be held from18 to 20 January in Colombo 25 to 26 January in Kandy.

Sri Lanka apparel group takes MillenniumIT communications solution

Sri Lanka's MAS Holdings has adopted a system provided by MillenniumIT and Dialog Axiata for internal communications for its plants and design centres in 41 locations in 10 countries.

Sri Lanka rupee strengthens in early trade

Sri Lanka's rupee gained about against the US dollar in mid morning trade Wednesday to 126.25/55 levels in the spot market on expectations of foreign purchases of rupee bonds, dealers said.

The rupee opened around 127.00/25 levels to the US dollar after closing at 127.15/20 levels Tuesday.Dealers said there was dollar selling on expectations of foreign investor purchases in a bond auction Thursday where 45 billion rupees of gilts are on offer.

Sri Lanka Asiri Central Hospital sold down by PE firm

Actis Investment Holdings SL Ltd, a private equity firm has a sold a 10 percent stake in Asiri Central Hospital Ltd, at the same price that it was acquired last August.

Sri Lanka's largest lender aims for trillion rupee deposit base

Sri Lanka's state-run Bank of Ceylon, the country's largest commercial bank by assets is aiming for a trillion rupees in deposits, newly appointed general manager D M Gunasekara said.
"We reached the target of a trillion rupees in assets last year ahead of schedule," he said after taking over duties Tuesday.

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Sri Lanka expects more business with K-Line car carrier call

Japan's K-Line, whose newly built car carrier called on Sri Lanka's Colombo port this week is expected to lead to further business in transshipment from the shipping line through the island, officials said.

Panama flagged MV Delhi Highwayhad made its maiden call in Colombo on January 04. The 299 metre vessel has a gross tonnage of 58,997 and a dead weight of 18.891 tonnes, Sri Lanka Ports Authority said in a statement.

Sri Lanka not good enough in Australia, laments losing Captain Mahela

SYDNEY (Reuters): Mahela Jayawardene signed off his second stint as Sri Lanka Captain in disappointment on Sunday after a 3-0 series sweep in Australia and said the bottom line was his team had just not played well enough.
After arriving in Australia confident they could finally win a first test Down Under, Sri Lanka fell to defeat by five wickets in Sydney following an innings and 201 humiliation in Melbourne and an 137-run reverse in Hobart.

Sri Lanka flood victims get Japan help

Japan will give 23 million Yen (32 million rupees) worth disaster aid to victims of Sri Lanka's recent floods and landslides, the embassy of Japan in Colombo said.
"The emergency assistance includes tents, plastic sheets and sleeping pads for those affected by the recent floods and landslides," the embassy of Japan said in a statement. "The People and the Government of Japan sincerely hope that this aid would contribute to improving the humanitarian situation in the affected areas, and that this disaster will be under control as early as possible."
The relief items will be distributed through the Japan International Cooperation Agency (JICA).

Sri Lanka aims to have best customs office in region: Treasury Secretary

Sri Lanka is aiming to have the best customs office in the region with the office fully online and three 'free ports' in operation, Treasury Secretary P B Jayasundera said.

Sri Lanka's customs office will have ASYCUDA (Automated System for Customs Data) World system operating by March 2013, allowing online clearing of exports and imports, he said. "Don't be cynical when we make ambitious targets," Jayasundera told reporters in Colombo.
"It is the dream of Sri Lanka customs and the finance ministry to the best Customs in the region."
By March 'free port' arrangement will be in three ports, he said.
Jayasundera said Sri Lanka Customs will be handling about 30 billion US dollars of import and exports a year.

Customs will also facilitate the about a million tourists are year, he said.

Sri Lanka New 10 rupee coin coming district wise!

The Central Bank on Wednesday announced that a new series of Rs. 10 coins to depict each district of the country would be issued this year.
The bank also said that a major ‘idle coin gathering program’ would be launched as well to collect and re-issue new coins for circulation.

Central Bank champions quest for $ 100 b economy

The Central Bank yesterday made compelling case as to why and how the country can progress to a US$ 100 billion economy from $ 60 billion at present with a $ 4,000 per capita income by 2016 from $ 2,900 today.

 

10 steps to a debt-free life

One lesson we’ve learnt from the credit crunch has been how reliant we’ve become on cheap credit - whether a mortgage, overdraft, personal loan, credit or store card.

Mortgage repayments, soaring utility and fuel prices and the rising cost of the weekly food shop are hitting households across the country. And it’s not just low-income families feeling the pinch. Transact, a network of more than a thousand debt and financial inclusion organisations, reported an increase in calls from middle-class households feeling the pain of price increases as far back as 2010.

"We are seeing a new type of client. Teachers, police and banking and service sector workers, many of them homeowners, are struggling with mortgages, secured loans, and credit card debts," says Heather Keats, director of one of Transact’s members, Community Money Advice.

Whether you’ve just got a couple of niggling loans or the amount you owe is keeping you awake at night, commit to ditching your debts and quit borrowing for good. Here is Moneywise's 10-step get-out-of-debt plan, to help you to turn your finances around.

Five top tips for successful New Year’s resolutions

For many of us the New Year represents a new start where we'll shed all our bad habits and start afresh. But unlearning what we've done for years takes time and by the end of January many of our resolutions have fallen by the wayside. To stop that happening this year, follow our five rules for achieving your New Year goals:You can stick to your resolutions this year ©Rex

1. Make clear, realistic resolutions

If you want to stick to them, make your resolutions realistic in the first place. Don’t give yourself wild targets that will be a huge struggle to keep and make sure they’re not too vague. Being healthier is a good idea generally, but instead of giving yourself this wide aim try pinning it down to one or two things you can do to make your life healthier. When you’ve achieved these goals, add a couple more life changes. Taking it one step at a time will give you a much bigger chance of success.