Asian Tribune to organize Sri Lanka Investment forum 2011

Colombo, 02 February, (Asiantribune.com):

Asia’s leading news website- Asian Tribune, is to organize “Sri Lanka Investment forum 2011” in a bid to showcase Sri Lanka’s tremendous opportunity to the world.
Realizing the ‘Wonder of Asia’
Asian Tribune’s inaugural Investment Forum, to be held in early April in Colombo, will be a unique initiative to bolster trade relations, renew reciprocal business commitments, and ignite strategic investments from global investors from high growth economies, with a particular focus on Gulf countries.
Paramount mission of Investment Forum 2011 is to encourage Foreign Direct Investments (FDIs) into South Asia’s emerging economy, unraveling its vital growth sectors and attractive investment opportunities available in the island.
The Forum is expected to feature sector-specific opportunities delivered by key public officials and top corporate organizations providing the discerning participants with an investor perspective on ongoing and future projects. Offering reliable environment to build conclusive partnerships and solid bonds between investors and projects, the Forum will help to make strategic and informed investment decisions in the emerging Wonder of Asia.
Though mainly targeting the economic powerhouse of Middle East- the United Arab Emirates (UAE), participants from Saudi Arabia, Bahrain, Iran, Iraq, Jordan, Kuwait, Lebanon, Oman, and Palestinian territories, Qatar, Syria and Libya are also anticipated to attend this.

Greater potential in Gulf
Sri Lanka’s Minister of Industry and Commerce Rishad Bathiudeen, who is extremely keen on developing stronger trade links with Gulf countries, at a recent business promotion seminar said that the emerging Indian Ocean economy is anticipated to increase trade and economic ties with all Middle Eastern economies with a special emphasis on UAE.
According to Minister Bathiudeen UAE had become Sri Lanka’s largest trading partner among the Gulf Countries and largest market for Sri Lankan exports in the Middle East.
“The total trade between the two countries has crossed over US $ 500 mn. However, I believe there is much more potential for Sri Lanka and UAE to strengthen our cooperation and expand our commercial relations to a higher plane, both bilaterally and through one another, in our respective regions,” he said.
“Today, Sri Lanka is on the threshold of a new era. A new era with much hope and optimism for peace, stability and prosperity with a brighter economic future,” Minister Bathiudeen added.
Sri Lanka- Towards a five-fold mega global hub
With the conclusion of the three decade-old civil war in May 2009, Sri Lanka is now reaping peace dividends and is poised to transform itself into a five-fold mega global hub in Aviation, Shipping, Energy, and Commerce and in Knowledge, in its quest to become the ‘Wonder of Asia’.
Furthermore with the phenomenal economic growth seen in the country, there is little doubt that Sri Lanka will evolve into become Asia’s next Singapore or Dubai within the next decade or so.
Investors are continuing to eye tremendous untapped potential available in several sectors including, Tourism, Education, Shipping, Aviation, Energy, BPO & KPO, Healthcare, Property, Banking, Equity & Debt Markets, etc.
- Asian Tribune -
http://www.asiantribune.com/news/2011/02/01/asian-tribune-organize-sri-lanka-investment-forum-2011

Sri Lanka recent flooding causes Rs. 30 billion loss

Colombo, 11 January, (Asiantribune.com):

The most devastating floods that had battered the Eastern coast of Sri Lanka and wreaked havoc in most parts of the island had cost the emerging economy a staggering Rs. 30bn or US $ 27mn.
This is slated to be worse than the Cyclone of 1978, which devastated the low-lying district of Batticaloa and displaced nearly one million persons.
Disaster Management Minister Mahinda Amaraweera told media recent flooding were the worst experienced in the districts of Batticaloa and Ampara since 1913.
Sri Lanka Air Force has already deployed Bell 212 helicopters to rescue those stranded in Batticaloa and Ampara and so far 24 persons had been rescued.
Meanwhile Sri Lanka Army has mobilised nearly 1,000 troops to assist rescue and relief efforts.
Provincial education authorities in the flood-affected Eastern, Central and North Central ordered all schools in the provinces to close until next Monday.
National Building Research Organisation (NBRO) alerted the public that hill country districts such as Kandy and Nuwar Eliya were highly vulnerable to landslides.
Disaster Management Center said so far heavy rains have affected over 758,000 people island-wide while floods and landslide have claimed nine lives mainly in the hill capital of Kandy.
According to Asian Disaster Reduction Center ADRC?the 1978 cyclone alone affected more than one million people, killed nearly a thousand persons, partially and completely damaged nearly 250,000 houses, destroyed 90 percent of the coconut plantation in the Batticaloa district and resulted in the government having to spend over Rs.600 million to bring immediate relief to those affected.
Also cyclones and floods of severe intensity struck Sri Lanka in 1922, 1931 and 1964. Cyclone of 1978 incurred damages amounting to nearly 3.78 percent of the GDP while floods of 1992 caused losses close to 1.03 percent of the GDP.
- Asian Tribune -

http://www.asiantribune.com/news/2011/01/10/sri-lanka-recent-flooding-causes-rs-30-billion-loss

Sri Lanka to harness national intellectual property system for development- Minister Rishard Bathiudeen

By Santhush Fernando in Colombo

Colombo, 16 January, (Asiantribune.com):

Minister Rishard Bathiudeen

Emphasising the commitment of the government of Sri Lanka for intellectual property rights, country’s Minister of Industry and Commerce Rishard Bathiudeen, reiterated that the national intellectual property system would be utilized in transforming Sri Lanka into the “Wonder of Asia”. Minister of Industry and Commerce Rishard Bathiudeen today (January 14, 2011) inaugurated the Intellectual Property Awareness Programme for senior government officials, which was organized by National Intellectual Property Office (NIPO) of the Ministry of Industry and Commerce, in cooperation with the United States Patents and Trademarks Office (USPTO) and the US Embassy in Colombo, at the Taj Samudra Hotel Colombo.
Secretary to the Ministry of Industry and Commerce, Thilak Colure, Chief of the Economic Section of the US Embassy in Colombo Ed Heartny, US Patents and Trademarks Office Kalpana Reddy and high-ranking public officials were also present.
Minister Rishard Bathiudeen said that President Mahinda Rajapaksa in his manifesto “Mahinda Chinthana- Way Forward” endevours to make Sri Lanka the Wonder of Asia and carries several strategies including ‘making Sri Lanka a hub of knowledge in Asia’.
“Thus, the promotion of innovation and creativity in the country, particularly aiming the knowledge related and technology intensive industries demands high priority. In other words, creation and generation of knowledge and intellectual property have become more and more relevant and essential today.”
Emphasising the importance of safeguarding intellectual property rights
“There is no doubt that the due protection and management of the so created knowledge and intellectual property should be assured. As the subject of intellectual property, spreads across many facets of human life such as innovation and creativity, trade, industry, environment, health, access to knowledge and food security, the mainstreaming of intellectual property in the respective development-oriented activities is also important. The intellectual property rights, if duly managed and used, can extensively contribute to the economic growth and poverty alleviation.”
He added that in pursuing our accelerated nation building process including the economic growth and the promotion of Sri Lanka as a knowledge hub in Asia it is essential, that the country has better organized and strengthened national innovative and creative eco-system where knowledge and intellectual property are created, used and respected.
“It is also crucial for us to make our intellectual property system truly development-oriented. We should reach all strata of society with the message of creativity and innovation. We must help every possible individual and organization to enhance their potential in creativity and innovation and protect and manage their intellectual property rights for their benefit as well as for the nation as a whole.”
Sri Lanka should also ensure the effective management of its national intellectual property assets such as geographical indications including “Ceylon Tea”, “Ceylon Cinnamon” and “Ceylon Sapphire” and traditional knowledge and genetic resources, he added.
“You, as the senior officers, should look constructively at these aspects in your day to day and re-visit the processes, plans and policies afresh to move forward in the direction of desired goals and HE the President’s vision in making Sri Lanka a knowledge hub and the Wonder of Asia. We all know that he wants us to be creative and innovative in carrying out our duties. We should also remember that we cannot progress as a nation if we are not creative and innovative,” Minister said.
Full Text of the Speech delivered by Minister:
It is with great pleasure; I participate today on the occasion of the inauguration of the awareness seminar on Intellectual Property for Senior State Officers, organized by National Intellectual Property Office of the Ministry of Industry and Commerce, in cooperation with the United States Patents and Trademarks Office (USPTO) and the US Embassy in Colombo. As I understand, the programme has been designed to inform the participants, the relevancy and importance of Intellectual Property, in the economic development process. I am grateful to the organizers for inviting me to share some thoughts on a subject which is timely and very pertinent today to all of us gathered here.
As you are aware, we in Sri Lanka are now passing through an era of new resurgence with the dawn of peace. One of our expectation and goals in this new environment is the speedy reconstruction and reconciliation and the prosperity for our people. The ongoing reconstruction process which the government is tirelessly pursuing, embraces the long-term socio economic development as one of the top priorities.
Our development and related priorities, as well as the strategic approaches are enshrined in the nation building policy framework declared by His Excellency President Mahinda Rajapaksa in “Mahinda Chinthana- Way Forward”. It is a policy framework which endevours to make Sri Lanka the Wonder of Asia. It carries several strategies including ‘making Sri Lanka a hub of knowledge in Asia’. Similarly emphasis is placed on taking the science and technology to the grass-root level and promoting the participation of the rural populations, in the development related activities. Thus, the promotion of innovation and creativity in the country, particularly aiming the knowledge related and technology intensive industries demands high priority. In other words, creation and generation of knowledge and intellectual property have become more and more relevant and essential today.
There is no doubt that the due protection and management of the so created knowledge and intellectual property should be assured. As the subject of intellectual property, spreads across many facets of human life such as innovation and creativity, trade, industry, environment, health, access to knowledge and food security, the mainstreaming of intellectual property in the respective development-oriented activities is also important. The intellectual property rights, if duly managed and used, can extensively contribute to the economic growth and poverty alleviation.
Against this backdrop, the organization of this event is timely and likely to carry forward a futuristic message, producing far-reaching results if you take what you discuss today constructively and consider as a challenge.
In pursuing our accelerated nation building process including the economic growth and the promotion of Sri Lanka as a knowledge hub in Asia it is essential, that we must have better organized and strengthened national innovative and creative eco-system where knowledge and intellectual property are created, used and respected.
It is also crucial for us to make our intellectual property system truly development-oriented. We should reach all strata of society with the message of creativity and innovation. We must help every possible individual and organization to enhance their potential in creativity and innovation and protect and manage their intellectual property rights for their benefit as well as for the nation as a whole.
Moreover the need of ensuring the effective management of our national intellectual property assets such as geographical indications including “Ceylon Tea”, “Ceylon Cinnamon” and “Ceylon Sapphire” and traditional knowledge and genetic resources cannot be forgotten.
You, as the senior officers, should look constructively at these aspects in your day to day and re-visit the processes, plans and policies afresh to move forward in the direction of desired goals and HE the President’s vision in making Sri Lanka a knowledge hub and the Wonder of Asia. We all know that he wants us to be creative and innovative in carrying out our duties. We should also remember that we cannot progress as a nation if we are not creative and innovative.
In these circumstances, I firmly believe that this seminar will provide the participating senior officials, as a forum to discuss and share the views on the importance of innovative and creative activities and of the protection and management of the resultant intellectual property. You are the key people who can mainstream these areas, which form the very foundation of an environment conducive for making Sri Lanka, a knowledge hub.
Consequently, I sincerely thank the organizers for organizing this important event.
I am also grateful to the USPTO and the US Embassy in Colombo for all the cooperation extended to us in organizing this programme. It is my hope that they will continue to help us in promoting the national intellectual property system a truly development-oriented and more productive.
I wish you all a very successful and productive seminar. Thank you all very much.
- Asian Tribune -

http://www.asiantribune.com/news/2011/01/15/sri-lanka-harness-national-intellectual-property-system-development-minister-rishard

Sri Lanka Minister Rishard Badiuddin positive over stronger trade ties with UAE

By Santhush Fernando in Colombo

Colombo, 18 January, (Asiantribune.com):

Minister of Trade and Commerce Rishard Badiuddin

Sri Lanka’s Minister of Trade and Commerce Rishard Badiuddin said that the emerging Indian Ocean economy anticipated increasing country’s trade and economic ties with Middle Eastern economic powerhouse- United Arab Emirates (UAE). Addressing Colombo’s business community at the recent UAE-Sri Lanka Business Promotion Seminar jointly organized by Hatton National Bank PLC (HNB) and Sri Lanka’s Mission of UAE, Minister Badiuddin said that UAE had become Sri Lanka’s largest trading partner in the Gulf Countries and largest market for Sri Lankan exports in the Middle East.
“The total trade between the two country has crossed over US $ 500 mn. However, I believe there is much potential for Sri Lanka and UAE to strengthen our cooperation and expand our commercial relations to a higher plane, both bilaterally and through one another, in our respective regions,”
He added that the Gulf’s economic powerhouse was the largest investor in Sri Lanka having invested nearly US $ 100 mn and providing employment for 9000 workers. UAE investment has mainly come from well-known business giants in the UAE namely Al Ghurair Group and Al Futtaim Group.
“The Board of Investment would target number of sectors including Shopping malls, residential complexes, hospitals, IT and Industrial Parks, Hospitality Industry etc.. Similarly there are number of opportunities in infrastructure development and manufacturing sectors for the UAE investors,” Minister added.
Minister Badiuddin opined that both UAE and Sri Lanka have demonstrated that the respective economies are resilient and both economies weathered the Global Financial Crisis well and were poised to continue to grow strongly.
“However, as long as the global outlook remains uncertain, we will have to continuously to upgrade our value proposition and seek new markets and sources of growth. In this direction, Sri Lanka considers that the UAE can be a strategic partner for Sri Lanka,” he said.
“Today, Sri Lanka is on the threshold of a new era. A new era with much hope and optimism for peace, stability and prosperity with a brighter economic future. Having observed our improving economic fundamentals, the IMF (International Monetary Fund) recently ranked Sri Lanka as a middle-income country,” Minister Badiuddin added.

Full Text of the Speech of the Minister of Trade and Commerce Rishard Badiuddin :
His Excellency the Ambassador of UAE in Sri Lanka,
His Excellency the Ambassador of Sri Lankan in Abu Dhabi,
Dawoof Al Shezawi, of the Ministry of Foreign Trade of the UAE,
Rienzi Wijethilake, Chairman of Hatton National Bank,
Distinguished Invitees,
I am pleased to be here this afternoon at this very important seminar on the UAE. While extending a warm welcome to UAE team from the Ministry of Foreign Trade, I must take this opportunity to extend my sincere thanks to our Ambassador in UAE, His Excellency Sarath Wijesinghe for being instrumental in organizing this event. I must also thank HNB Chairman, Rienzy Wijethilake for hosting this seminar at the HNB headquarters demonstrating true partnership between Public and Private sectors.
By virtue of respective geographical location, both Sri Lanka and United Arab Emirates are maritime and trading nations. Both countries have been enjoying excellent bilateral relations. The UAE and Sri Lanka share a similar externally-oriented outlook that supports multilateral cooperation, free trade and navigational freedoms.
We enjoy very good cooperation in multilateral fora such as the United Nations, the International Maritime Organization and the World Trade Organization.
The UAE has become Sri Lanka’s largest trading partner in the Gulf Countries and largest market for Sri Lankan exports in the Middle Eastern Countries. The total trade between our two nations has crossed over US dollar 500 million. However, I believe there is much potential for Sri Lanka and UAE to strengthen our cooperation and expand our commercial relations to a higher plane, both bilaterally and through one another, in our respective regions.
Ladies and Gentlemen, as you are aware, we in Sri Lanka has now emerged as a peaceful country having eradicated three decade old terrorism under the courageous leadership of His Excellency the President Mahinda Rajapaksa.
One of our expectations and goals in this new environment is the speedy reconstruction and reconciliation and to bring about prosperity for our people.
The ongoing reconstruction process, which the government is tirelessly pursuing, embraces the long-term socio economic development and it is one of the top priorities.
Today, Sri Lanka is on the threshold of a new era. A new era with much hope and optimism for peace, stability and prosperity with a brighter economic future. Having observed our improving economic fundamentals, the IMF recently ranked Sri Lanka as a middle-income country.
The New York Times” ranked Sri Lanka the best travel destination in 2010, comparing with 31 other well-known destinations. You will be pleased to hear that the number of tourist arrivals has gone up by 50 % in 2010. The potential in tourism industry is enormous and Sri Lanka expects investment on this sector.
Economic growth of Sri Lanka will be in the range of 08 % and doubling of the stock market will enable.
The ambitious and accelerated development projects such as the Port of Humbantota, Colombo South Harbor, the second International Airport at Mattala, Energy sector , Highway Network etc., launched by Sri Lankan government will soon change the economic landscape of Sri Lanka in a remarkable manner. These development projects and their peripherals will generate a wide range of opportunities for overseas investors in general and UAE investors in particular.
UAE is the largest investor in Sri Lanka from the Middle Eastern Countries having invested nearly US $ 100 Million and providing employment for 9000 workers. UAE investment has mainly come from well-known business giants in the UAE namely Al Ghurair Group and Al Futtaim Group. The Board of Investment would target number of sectors including Shopping malls, residential complexes, hospitals, IT and Industrial Parks, Hospitality Industry etc.. Similarly there are number of opportunities in infrastructural development and manufacturing sectors for the UAE investors.
The worst of the global financial and economic meltdown is behind us. Both UAE and Sri Lanka have demonstrated that the respective economies are resilient and the economies of both countries have weathered the crisis well and are poised to continue to grow strongly. However, as long as the global outlook remains uncertain, we will have to continuously to upgrade our value proposition and seek new markets and sources of growth. In this direction, Sri Lanka considers that the UAE can be a strategic partner for Sri Lanka.
Exchange of delegations at political level, regular visits of business delegations, pragmatic approaches to export promotions and participation at each other’s trade Exhibitions etc. will be of paramount importance. I have already invited Her Excellency the Minister of Foreign Trade of the UAE to visit Sri Lanka. This visit will take place shortly and I have no doubt that it would open a new chapter in our bilateral relations.
China and India are emerging as economic giants in Asia, and Sri Lanka is well-connected to both economies.
Through our Free Trade Agreement with India and market access gained in China through the Asia-Pacific Trade Agreement, UAE investors can benefit in Sri Lanka in terms of market access opportunities. Given our respective hub status, both countries can benefit and prosper from each other’s competitiveness, experiences and ideas. In particular, businessmen from both countries should capitalize on every opportunity.
With these words, let me conclude my opening remarks. I wish you all every success in your future endeavours.
- Asian Tribune -
http://www.asiantribune.com/news/2011/01/17/sri-lanka-minister-rishard-badiuddin-positive-over-stronger-trade-ties-uae

Sri Lanka to recruit 1,000 Tamils to Police

Colombo, 20 January, (Asiantribune.com):

Sri Lanka’s Police Department yesterday commenced interviews to recruit 1,000 Tamil youth to the junior grades of the police service.

The interviews are held to recruit both men and women sub-inspectors and police constables, and police drivers, a statement by President Office said.

All applicants are from the districts in the Northern Province- Jaffna, Killinochchi, Mulaitivu, Mannar and Vavuniya. The selected individuals will be trained at police training schools before being posted to police stations in the Northern Province.

During the recruitment drive, Tamil youth had shown much interest and more than 6,500 people, including 400 women, applied for 500 police constable posts in Jaffna.

President Mahinda Rajapaksa’s government should be given credit as in 2007 August, barely a month after Sri Lanka security forces liberated the East from the LTTE, Sri Lanka Police commenced a mass recruitment drive of Tamils and Muslims into the force with more than 500 applications being received.

Sri Lanka has until recently only a handful police personnel who could converse in Tamil out of Sri Lanka''s 86,000-strong police force. In 2006, it was reported that Tamils represent approximately 1.2 percent of the police force. Even in predominantly Tamil areas, there are very few Tamil police officers while Sinhalese police officers rarely speak Tamil proficiently.


This language obstacles had "increased the level of misunderstanding and distrust" between the police and Tamil communities in Sri Lanka

Fear of the Liberation Tigers of Tamil Eelam (LTTE) targeting Tamil police officers was the most plausible explanation for the low proportion of Tamils in Sri Lanka's police force.

January 07, 2011, marked a new chapter in the history of Sri Lanka Police as a passing out parade ceremony was held at the Kalutara Police College, for a batch which consists of entirely Tamil Police Constables including 16 women officers.

These 336 Tamil-speaking Police officers who gained their basic training skills were recruited from the northern and eastern provinces. Police constable 88993 Gunarathnam Gunarojan was awarded as the best recruit.

One of the new constables was quoted in media as saying that the move would help bridging the gap between the Tamil community and the police in the northern areas of the country.

"Since we are from the same Tamil community, I hope people will trust us. We will be able to improve the relationship between the community and the police," he added.

President Rajapaksa at a passing-out ceremony of Special Task Forces (STF) personnel paid gratitude to the sacrifices made by Tamil police personnel to safeguard the territorial integrity of Sri Lanka and specifically referred to IP Bastiampillai who was the first Policeman to be killed by the LTTE.

- Asian Tribune -

Sri Lanka Rangiri Garments declared open in Hambanthota by MP Namal Rajapaksa

By Santhush Fernando

Colombo, 13 January, (Asiantribune.com):

              

Rangiri Garment factory providing employment for nearly hundred villagers was declared opened by Parliamentarian Namal Rajapaksa yesterday (January 11, 2011) in Hambanthota.
The factory was constructed by French Non Governmental Orgainsation (NGO)- Secours Populaire Francias (French People’s Relief) at Rangiri Garden Village in Mirrijjawila, at a cost of Rs. 57.4 mn (Euro 400,000).

Chairman of the French People’s Relief - Lauprêtre Julien, External Affairs Minister Prof. G L Peiris and a high level French delegation was also present.

Addressing the gathering MP Namal Rajapaksa said that this was a project highly beneficial for the people of Rangiri Garden Village, who had been affected by the 2004 Asian Tsunami. This effort would also develop the existing friendly ties between the two countries he added.
Speaking to the Asian Tribune, National Secretary of Secours Populaire Francias, Henriette Steinberg, said that the response was so overwhelming that the factory was requested to double its capacity to 200.
“Response was so overwhelming that there was a request to double its capacity to 200. Moreover the majority of the employees are widows who lost their husbands during the 2004 tsunami tragedy,” Steinberg said.
She said that the NGO was very excited over the project adding that they were extremely happy to work in collaboration with government to assist the tsunami-affected peoples of Hambanthota.
In fact the Organisation constructed Rangiri Garden Village complete with 100 hundred houses, water supply and sanitation for the benefit of the people.
During the last six years, 53 projects have been completed by the People's Relief in the wake of the devastating 2004 tsunami in Indonesia, Sri Lanka, India and Thailand benefiting 250,000 people in 26 villages.
- Asian Tribune -
http://www.asiantribune.com/news/2011/01/13/sri-lanka-rangiri-garments-declared-open-hambanthota-mp-namal-rajapaksa 

Sri Lanka unveils logo for 'Commonwealth Games 2018 Hambantota'

By Santhush Fernando

Colombo, 01 February, (Asiantribune.com): 

 

                 

        President Mahinda Rajapaksa unveiled the logo of ‘Commonwealth Games 2018,’    while Minister of Sports Mr. Mahindananda Aluthgamage, Minister Dilan Perera, Hambantota Organising Committee Co-Chairman and the Governor of Central Bank Mr. Ajith Nivad Cabraal, President of Commonwealth Games Association & National Olympic Committee Mr.Hemasiri Fernando, Chairman of the Tharunyata Hetak movement Mr.Namal Rajapaksa MP, parliamentarians and other distinguished invitees were also present. [Pix.Sudath Silva]

Sri Lanka President Mahinda Rajapaksa launched the official logo for country’s bid for 'Commonwealth Games 2018 Hambantota' at a grand ceremony held at Temple Trees last evening (January 31, 2011).
President Mahinda Rajapaksa unveiled the logo while Minister of Sports Mahindananda Aluthgamage, Minister Dilan Perera, Commonwealth Games 2018 Hambantota Organising Committee Co-Chairman and the Governor of Central Bank Ajith Nivad Cabraal, President of Commonwealth Games Association & National Olympic Committee Hemasiri Fernando, Chairman of the Tharunyata Hetak Movement Namal Rajapaksa MP, parliamentarians and other distinguished invitees were also present.
President Rajapaksa is much determined to win the bid for Hambantota to host the 2018 Commonwealth Games and has commissioned several vital infrastructure projects in line with it.

 
                By 2018 the construction of the Ruhunu Magampura International Port, Maththala International Airport, International Convention Centre, hotels, sports facilities and other infrastructure developments in Hambantota would be completed and South Asia’s emerging port city would be ready to host the Games.
Last year, President Rajapaksa appointed a high-level Organizing Committee (OC) for the Commonwealth Games 2018 Candidate City Hambantota under the chairmanship of the Governor of the Central Bank, Ajith Nivard Cabraal to plan and execute the necessary works related to this bid and the games.

Sri Lanka must lodge their final bid by May 11, 2011 and the host city will be chosen at the CGF General Assembly on November 11 held in St Kitts and Nevis.

Official website for CWG 2018 is www.hambantota2018.com.

- Asian Tribune -

Sri Lanka President orders the best team to be selected for 2011 Cricket World Cup

By Santhush Fernando in Colombo

Colombo, 05 January, (Asiantribune.com):

President Mahinda Rajapaksa discussing arrangements for the upcoming 2011 Cricket World Cup with Minister of Sports Mahindananda Aluthgamage, Sri Lanka Cricket Chairman D. S. De Silva and other officials at Temple Trees. (Pix By : Sudath Silva)

Sri Lanka President Mahinda Rajapaksa on Tuesday (January 4, 2011) directed Sri Lankan Cricket (SLC) to select the best players for the upcoming 2011 Cricket Word Cup.


At a meeting chaired by President Rajapaksa held at Temple Trees to discuss the arrangements of World Cup held this year, SLC officials were directed not to select players based on whims and fancies of various decision-makers but to appoint the squad out of the best fifteen players. Current standards of the playgrounds and matches to be played were also discussed.


It had been decided that the 15-member squad would be selected after the premier league matches are concluded. Minister of Sports Mahindananda Aluthgamage, SLC Chairman D. S. De Silva and several other officials participated.


Newly constructed international cricket stadium at Sooriyawewa in Hambanthota District, the refurbished Pallekele (Kandy) and R Premadasa (Colombo) stadiums are the three venues in the island for the 2011 World Cup. Sri Lanka, along with India will be hosting the international event.


Last year, the International Cricket Council (ICC) visited the venues in Sri Lanka that are slated to hold the matches of the World Cup 2011 tournament and expressed their satisfaction on the progress.

http://www.asiantribune.com/news/2011/01/05/sri-lanka-president-orders-best-team-be-selected-2011-cricket-world-cup

Sri Lanka is world’s fastest rising market 2010 – Guardian of United Kingdom

By Santhush Fernando

 

Colombo, 06 January, (Asiantribune.com):

 

Sri Lanka had the world's fastest rising market as its post-war economy boomed, United Kingdom’s leading newspaper- The Guardian said in a recent report titled ‘the best and worst investments of 2010’.
‘In 2009, the little-known Colombo Stock Exchange rose a remarkable 128% after the Sri Lankan government formally declared an end to the 25-year civil war’ the Guardian said.

This year, the market has soared again, rising by 101% (in sterling terms) in the year to 20 December, according to figures compiled for Guardian Money by Vanguard, which operates a wide range of index funds. Argentina, once a by-word for economic default, is also back in fashion among investors. The Buenos Aires Bourse advanced 82%, closely followed by the Thai exchange (up 70%) and the Ukraine (up 68%), and no, we didn't know there was a stock market there, either”.


The Sri Lanka stock market is reported to be one of the most modern exchanges in South Asia, with a fully automated trading platform. The value of the companies traded on the market is now more than $20bn (£13bn), and 2011 will see companies such as SriLankan Airlines listing its shares.

The island's economy is expected to grow 8% in 2010 and 9% in 2011 – rates usually seen in China. Tourism is booming, with 750,000 visitors anticipated in 2011, while tea exporters are also enjoying strong gains.

Bottom end


At the bottom end of the world indices were Ireland and Greece. The FTSE Ireland Banks index fell 67% in 2010, while the FTSE Greece Financials index was down 57%. Ironically, the country which did default, Argentina (albeit back in 2002), enjoyed huge gains in 2010, led by its banking sector. BBVA Banco Francés rose more than 90%, while Grupo Financiero Galicia leapt by an extraordinary 185%, Guardian further said.

http://www.asiantribune.com/news/2011/01/05/sri-lanka-world%E2%80%99s-fastest-rising-market-2010-%E2%80%93-guardian-united-kingdom

Sri Lanka President says challenges of development much greater than challenge of defeating terrorism

Tue, 2011-01-04

By Santhus Fernando in Colombo

Sri Lanka President Mahinda Rajapaksa addressing a gathering of public servants today (January 3, 2011) said that the challenges of developing the economy was much greater than the challenges faced when defeating terrorism. He said so addressing the staff of the Presidential Secretariat marking the first working day for Sri Lanka’s public sector today at old Parliamentary Complex in front of the Galle Face Green.
President Rajapaksa further stated that his staff was fortunate to be working at the Secretariat and expressed his hope that they will set an example for the rest of the public sector. He adding that the staff of the Presidential Secretariat was well prepared to overcome these challenges.
He advised the staff and the entire public sector at large to complete the day’s work without any delay and to be committed to serve the people, adding that they need to ask themselves whether they carried out their duties worthy of their salary.

Secretary to the President Lalith Weeratunga speaking on the occasion said that the Presidential Secretariat should live up to its position in the public sector and be efficient. He pointed out that out of the 365 days, 122 are holidays with an additional 45 days.
Thus, he advised his staff to make the best of the remaining working days to provide an excellent service to the public.
On the occasion, Weeratunge led his staff in taking the pledge of the public service for 2011 themed, ‘Commit towards serving the public with ‘Metta’ (Loving Kindness) through sheer dedication and utmost genuineness. War heroes who lost their lives were also remembered.
Work at the Presidential Secretariat commenced for the New Year today led by President Mahinda Rajapaksa, while the Venerable Maha Sangha along with clergy of other religions invoked blessings on the President, public servants and the whole country.
Economic Development Minister Basil Rajapaksa, Secretary to the President Lalith Weeratunga and the staff of the Presidential Secretariat also participated. Picture shows Lalith Weeratunga presenting 'kiribath' (milk rice) to the President.

Sri Lanka President unveils 2011 National Economic Programme

By Santhush Fernando in Colombo

Colombo, 06 January, (Asiantribune.com):

 Sri Lanka President unveiling the National Economic Programme for the year said that during 2011, country’s economy would realize people’s expectations of development launched during the humanitarian operations.


President Rajapaksa in his capacity as the Finance Minister made these remarks addressing the staff of the Finance Ministry for the New Year on Tuesday (January 4, 2011) . Launching the National Economic Programme for this year President Rajapaksa said that the Finance Ministry has a decisive task in the journey towards the development. He added that development programmes already implemented by the government, has earned many commendations from the international community.

Treasury Secretary Dr. P.B. Jayasundara said that economic victories of 2010 surpassed the desired goals and expressed confidence that the country would achieve double digit economic growth soon.

Senior Minister for International Monetary Cooperation Dr.Sarath Amunugama, Deputy Minister Geetanjana Gunawardena, and the staff of the Finance Ministry were also present.

Meanwhile country’s banking and finance watchdog- the Central Bank of Sri Lanka (CBSL) unveiling its ‘Roadmap: Economic and Financial Sector Policies for 2011 and Beyond’, on Tuesday announced that the country in 2010 accomplished rapid decline of poverty levels, low and stable inflation, stable exchange rates, Middle-income Emerging Market Country status among other achievements.

CBSL said that economy maintained historically high foreign reserves levels amounting over US $ 6.6 Billion by the end of 2010. Sri Lanka showed strong growth momentum last year as peace dividend was clearly observed with impressive performance in all sectors and more confidence shown by the business sector, it added.

http://www.asiantribune.com/news/2011/01/05/sri-lanka-president-unveils-2011-national-economic-programme