Wednesday, May 22 2013

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The Life and Career of India's Richest Man

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  (Bloomberg) -- Amid rumours that he may be about to takeover talent agency IMG, this week's Asia Billionaires zeros in on India's richest man. Mukesh Ambani loves Bollywood, hates meat and alcohol and the government pays the bills for his personal security. Bloomberg's Angie Lau has more. (Source: Bloomberg)

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Transforming garbage into ‘gold’ compost

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Sri Lanka is probably one of the few countries where people do not compost the garbage. Recently it was reported that the US Ambassador collected garbage in the Galle Face green!

On a daily basis, thousands of tons of leaves are collected and burned from Colombo city road. What a colossal waste of materials that can be used to grow something.

This article deals with a suggestion on how the local authorities such as Municipalities, Urban Councils, Pradeshiya Sabas, etc, can get the co-operation of the housewives to sort out the garbage at home, before giving it to the garbage collectors.

Usually, all garbage items are put into one bag and given to the garbage collecting truck to be taken and dumped in a faraway public place, which fills some unwanted land or a waste land. This garbage dumping area stinks and ruins the environment and causes many health hazards for the poor people who live close to these garbage dumping areas. All the environmental problems we face are man-made problems. In this modern era where modern technologies are tried and tested, it is a shame for our city fathers to not solve this problem in a fruitful way.

More than 85 per cent of the garbage articles are vegetable in origin and they are biologically compostable. The 85 per cent of compostable matter are organic in nature.

This article deals with a suggestion on how the local authorities such as Municipalities, Urban Councils, Pradeshiya Sabas, etc, can get the co-operation of the housewives to sort out the garbage at home, before giving it to the garbage collectors.

Usually, all garbage items are put into one bag and given to the garbage collecting truck to be taken and dumped in a faraway public place, which fills some unwanted land or a waste land. This garbage dumping area stinks and ruins the environment and causes many health hazards for the poor people who live close to these garbage dumping areas. All the environmental problems we face are man-made problems. In this modern era where modern technologies are tried and tested, it is a shame for our city fathers to not solve this problem in a fruitful way. More than 85 per cent of the garbage articles are vegetable in origin and they are biologically compostable. The 85 per cent of compostable matter are organic in nature.

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Ceylon Theatres sells controlling stake in Lanka Ceramics

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Ceylon Theatres Ltd sold its controlling stake (80 per cent) in Lanka Ceramics during early trades on Monday at the Colombo bourse.Dealers said 24 million shares were traded at a value of Rs. 3 billion.  There was no independent confirmation of the buyer believed to be a group connected to another top ceramics producer.

According to the company’s 2011/12 report, CT (Ceylon Theatres) Holdings controlled 80 per cent of the total stake. The next largest shareholder is Dr. T. Senthilverl with 6 per cent while the balance is loosely held by individuals and institutions. The board of directors of the company comprises A.A. Page (Chairman), A.T.P. Edirisinghe (Deputy Chairman), R. Casie Chitty (Managing Director) and directors - J.A.P.M. Jayasekera, E.A.D. Perera, Ms. C.K. Muthukumaru, Dr. T. Senthilverl and J.C. Page. Horana Plantations is among the companies coming under Lanka Ceramics. (DE)

UPDATE-IMF stresses the need to grow foreign investment

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Sri Lanka should focus on increasing Foreign Direct Investment (FDI) in the face of declining export revenue, an International Monetary Fund official said.  
 
The country’s exports fell 7.4 percent to 9.7 billion US dollars in 2012 from a year earlier while imports were at $19 billion.
 
The balance of payments situation was also correcting, though lower imports had put pressure on state finances.
 
FDI will bring modern technical knowhow and boost economic activities creating employment opportunities, IMF Resident Representative Koshy Mathai told a media conference in Colombo.
 
He disclosed that an annual Article IV consultation report on Sri Lanka was submitted to the IMF governing board observing that the country has achieved notable progress on a number of economic fronts over the past few years. – (Bandula)

IMF briefing on Lankan economy

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IMF Country Representative Koshy Mathai is due to hold a media briefing today (Thursday) at 3 pm on the recent fund mission that visited Colombo.
The mission submitted its report which was discussed by the IMF board of governors on Wednesday, May 1. Dr. Mathai is also expected to discuss Sri Lanka’s economic fundamentals at today’s meeting.
The team visited Sri Lanka earlier this year and turned down a request from the Treasury for a US$1 billion loan for budgetary support. The request was then withdrawn by the Finance Ministry. – (Bandula)

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