All Blogs
Cooling Summer
The Connaissance Group is to make the best of the hot weather, enticing outbound Indian travellers with a summer promotion at its hotels.The Group is targeting a 5 mn strong Indian outbound market to fill up hotels in an ordinarily slow season, where occupancies hover around 45-50 percent.rn rnrnrnldblquote Outbound travel from India in the […]
Fine Cuppa
Russia is sipping more fine teas as the influence of rising average income increases average spending above US$ 5 per kilo in the wholesale markets.The switch to premium quality beverages is taking hold across Russia along with the rising purchasing power of Russian consumers. Trade sources say sales of hot drinks increased by 3.6% in […]
Peace Please
Sri Lanka needs to return to the negotiating table with the LTTE to untangle US$ 4.5 billion in international aid, but talks with the Tamil rebel faction still seem distant.After a four-day situation analysis, Japans Special Envoy to the Sri Lankan Peace Process left it open for the government and the LTTE to set a […]
Talent Spotting
Venture capitalist, Aureos Lanka Advisers, has launched a US$ 10 mn fund to invest in ongoing projects in Sri Lanka and Bangladesh.Formerly known as Ajoyana Fund Management, Aureos plans to invest between US$ 500,000 to US$ 3 mn in a wide array of business activities, the firm said in a statement Tuesday.rn rnThe Fund is […]
City Life
Chinese millionaire Tao Shing Pee is 88, but his more than half-a-life-time love affair in tropical Sri Lanka is still going strong endash in fact Tao is willing to lavish more money and attention than ever on his tropical love.rnrn On Tuesday, Tao, know in Sri Lanka for developing rnColombos landmark building – the World […]
Sex, Lies and Religion
Sri Lankas main Muslim leader Tuesday accused the government of implicating him in a sex scandal to secure his vote while a Buddhist monk charged that a fellow monk legislator had been abducted. Muslim leader Rauf Hakeem in a special address to parliament said the ruling party had fabricated a sex scandal to pressure his […]
Password Protected
Do you have the four-digit PIN code for your ATM or the password to your mail account? Do your know who else has it? Hackers and freely available password hacking software are giving away passwords and all the secrets seemingly locked away safely by the alphanumeric code we call passwords.Venkateh Swaminathan is in Colombo today […]
Rowing Together
President Chandrika Kumaratungas minority government secured the deputy speakers post in Parliament on Tuesday after the main opposition party offered no resistance to the move.The United National Front reached an agreement with the government not to oppose Kumaratungas candidate for the position, said party spokesman Mahinda Samarasinghe.rn rnHe did not elaborate. rn rnThe UNFs position […]
Looking Good
Sampath Bank on Monday secured an A+ (sri) for its long-term debt and an A (sri) rating for its four-year debenture issue from Fitch Ratings.An A+ (sri) rating denotes a low expectation of credit risk. The capacity for timely payment of financial commitments is considered strong. This capacity may, nevertheless be more vulnerable to changes […]
Mixed Blessings
Emirates Airlines on Monday announced a fuel surcharge on airline tickets purchased from selected markets, including Sri Lanka.Passengers buying tickets from Sri Lanka, pay an additional Rs.500 for a one-way journey and Rs. 1,000 per return ticket, the airline said.rn rnldblquote Emirates Airline is not implementing across-the-board ticket price surcharges in response to rising fuel […]