Diesel prices are seen rising despite the Ceylon Petroleum Corporation (CPC)’s oil hedging pact in February to cushion volatility in the global market, raising questions as to whether the government secured the most suitable option. Mangala Boyagoda, a well-known oil hedging expert, told The Sunday Times FT even though the government is on the right path with oil hedging, this particular hedging will not result in any significant change.
NEW DELHI, (AFP) - The stunning exits of Pakistan and India from cricket's World Cup has left one of the game's biggest sponsors reviewing its future in the sport and sent the advertising world into a tailspin.
Giants such as Pepsi have had to rethink marketing campaigns centred around the teams, Indian advertisers are demanding cut-price television spots and in Pakistan the ad industry reckons losses will run into millions of dollars.
Sri Lanka is on course to meeting its Millenium Development Goals with the exception of halving its poverty levels, according to Richard Vokes, Country Director for the Asian Development Bank (ADB). The Development Forum in Galle earlier this year was abound with discussions on the resilient nature of the country's economy which saw 7% growth in 2006 but Vokes emphasized that the reduction of poverty was still a major challenge.
Sri Lanka should take advantage of the economic miracle taking place in India as the island nation is geographically very well placed to benefit from its giant neighbour’s stunning economic growth. The country has a market of over a billion people on its doorstep. But if Sri Lanka is to make the most of this opportunity, its governance and its economic and business policies will need to adhere to the values of civil organisations such as Chartered Institutes.