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CB Governor: Good times ahead for Sri Lanka in 2015 Roll ...


By Ravi Ladduwahetty Ceylon Finance Today: Central Bank Governor Ajit Nivard Cabraal predicted good times ahead for Sri Lanka in 2015, if global fuel prices stay at the current US$ 60 per barrel.In an exclusive interview with Ceylon Finance Today, Cabraal said that the country's total fuel imports, estimated at US$ 4.8 billion for 2014, would fall by as much as US$ 2-2.8 billion, if crude oil prices remain around US dollars 60 per barrel in 2015.As an oil importing country, Sri Lanka a...

By Umesh Moramudali Ceylon Finance Today: Dearth of professionals holding high ranking positions in the state-owned enterprises (SOEs) made inefficient entities incurring massive losses, and professionals should manage them, Senior Economist Dr. Lalithsiri Gunaruwan stressed.Dr. Gunaruwan who is a former Secretary to the Transport Ministry, and currently serving as a senior academic of the Department of Economics, University of Colombo stressed that the desired outcomes were not achiev...

(Reuters) - The dollar edged up against the yen on Friday in light bargain-hunting following two sessions of losses, with some markets slowly getting into gear after the Christmas holiday.Market participants expected it would still take a bit of time for business to resume in full swing, with key markets in the region such Australia, Hong Kong and Singapore closed on Friday. The U.K. market will remain closed on Friday although New York will be open. After a dip to 120.005 yen the doll...

By Paneetha Ameresekere Ceylon Finance Today: The Central Bank of Sri Lanka (CBSL) which plans to raise a Sovereign Bond of US$ 1.5 billion on behalf of the Government of Sri Lanka (GoSL) after next month's polls, has held road shows and meetings in this connection in London, Hong Kong, Singapore and New York recently, according to market sources. The tenure of the Bond will be five years, an official who didn't want to be named told Ceylon FT. "CBSL doesn't want the tenure to be ...

By Ravi Ladduwahetty Ceylon Finance Today: Two frontline private sector lobby groups on the tourism industry, the Sri Lanka Association of Inbound Tour Operators (SLAITO) and the Tourist Hotels Association of Sri Lanka (THASL) while commending the government on the efforts to develop the industry, disagreed on the statistics relating to government targets.This follows the government, in 2011, setting the tourism industry the targets of 2.5 million arrivals and 45,000 hotel room...

By Paneetha Ameresekere Ceylon Finance Today: Friday saw a net foreign outflow (NFO) of Rs 706 million from the Government Securities Market (GSM) in the week ended Wednesday (24 December), taking NFOs in the last four months to date to Rs 48 billion (US$ 364 million), thereby causing further depreciating pressure on the rupee, market sources told Ceylon FT."Strengthening of the US dollar against other major international currencies, a buoyant US economy which grew by five per cent in ...

By Paneetha Ameresekere Ceylon Finance Today: Alleged manipulation pushed up the bourse on Boxing Day Friday (26 December) on a nominal performance.On a low 15.5 million share volume (SV), a 52.7% decline over the previous day's (24 December) volumes, the bourse made a Rs 438.1 million turnover (an 88.6% decrease), however, the benchmark ASPI increased by 0.63% to 7,309.03 points and the more sensitive S&P SL 20 Index by 0.44% to 4,087.57 points.These gains were possible due to ...

(CNN) – At the end of another turbulent year for business as usual, the march of the disruptors shows no sign of abating. Big data analytics, the sharing economy, and virtual reality are just some of the transformational trends that have been causing sleepless nights for CEOs. The good news for consumers is that the stream of innovation will only intensify in 2015, as exciting new opportunities are grasped in diverse fields from sleep to smart clothes, from credit card security t...

By MTI Consulting – based on the keynote by MTI CEO Hilmy Cader at the Best Corporate Citizen Award organized by the Ceylon Chamber of Commerce It's perhaps best for us reflect again on the importance of CSR, why we engage in it, the issues of its practice and how we can greatly improve on its scope for a better tomorrow.It's no surprise that corporate greed is widespread. Though the definition of 'corporate greed' may be quite contentious, it is perhaps synonymous with the persi...

By Pranavesh Sivakumar Ceylon Finance Today: The construction work on Phase II of the Bandaranaike International Airport will commence in July 2015 and is expected to be completed in three years from then.The consultants for the BIA Phase II would be a Japan based joint venture comprising Japan Airport Consultants and Nipon Koei who would also handle the designs, Chairman of Airport and Aviation Services of Sri Lanka Ltd., Colonel Prasanna Wickramasooriya told Ceylon FT yesterday. He...

By Menaka Indrakumar and Pranavesh Sivakumar Ceylon Finance Today: Two former past chairmen of Pelwatte Sugar Industries PLC , in individual interviews with the Ceylon FT, expressed divergent opinions on the government's stance on the company.Former Chairman Ariyaseela Wickramanayake said: "Many people have invested in this company, and some didn't benefit from this company at all. I blame the Colombo Stock Exchange for not doing their job properly, and it's our fault for investing...

By Menaka Indrakumar Ceylon Finance Today: The Ceylon Electricity Board (CEB) has earned more than Rs 94 million (Rs 94,765,715.35) in the first six months due to wide spread emergency raids.Of that amount, the CEB has recovered Rs 10.3 million through Court fines and the remaining Rs 84 million as recovery of losses, Ministry of Power and Energy Media Secretary Sisira Wijesinghe told Ceylon FT yesterday.Accordingly, there have been 1,670 incidents of illicit tapping and meter tamper...

Ceylon FT

Ceylon Finance Today: Central Bank Governor Ajit Nivard Cabraal predicted good times ahead for Sri Lanka in 2015, if global fuel prices stay at the current US$
Ceylon Finance Today: Dearth of professionals holding high ranking positions in the state-owned enterprises (SOEs) made inefficient entities incurring massive losses,
(Reuters) - The dollar edged up against the yen on Friday in light bargain-hunting following two sessions of losses, with some markets slowly getting into gear
Ceylon Finance Today: The Central Bank of Sri Lanka (CBSL) which plans to raise a Sovereign Bond of US$ 1.5 billion on behalf of the Government of Sri Lanka (GoSL)

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