Sunday, January 17, 2010

Two new directors appointed to RAM Ratings Lanka in January

RAM Ratings Lanka named its two new directors- Preethi Jayawardena and Liza Mohn Noor. The two directors will be appointed in January 2010. Preethi Jayawardena is a Fellow of the Institute of Chartered Accountants of Sri Lanka. He is also a member of the monetary policy consultative committee of the Central Bank of Sri Lanka. He is also a member of the executive council of the Institute of Directors of Sri Lanka. He worked with Zambia Consolidated Copper Mines for more than twelve years.

Liza Mohn Noor is the chief executive of Malaysia RAM Rating Services in Berhad. She has been working with the firm since 1991. During the 1997/98 “regional economic crisis,” she served in the corporate debt-restructuring committee (CDRC) of the Central Bank of Sri Lanka. The committee was involved in restructuring state-run firms. She also specializes in Islamic Banking.

RAM Ratings Lanka is a domestic credit rating agency registered under the Securities & Exchange Commission of Sri Lanka. The agency is also determines “Claims-Paying Ability” ratings of insurance companies. Established in 2005, the company has rated a wide range of financial institutions including banks, finance, leasing and insurance companies. The company also does corporate profiling and issue ratings.

Related articles:

Lanka Business Online

Monday, June 1, 2009

India: Same Gold Price All the Places

Gold is a very important commodity in India. If I am not wrong then I think that the country has the highest amount of gold. In marriage, it is a must and giving gold ornament is a normal tradition. However, a big problem is that there is no uniformity of gold price in the country. So, you can find different prices in different areas. A new association called Indian Bullion Market Association (IBMA) has been formed to ensure same price all over the country. I hope that it can happen and it can benefit the consumers. Representatives from all the major stake holders have been included in the new association.  

Sunday, May 31, 2009

Students Should not become too much Engrossed with Twenty20 World Cup 2009

The practice matches will start from tomorrow and thus for the next 22 days, millions of people in South Asia will be totally glued to their TV sets about cricket. Bangladesh, India, Pakistan and Sri Lanka are playing from South Asia and all of them have good teams. In fact, in 2007, India and Pakistan played in the final.

So, for the next 3 weeks, many people will have nothing to do but discuss about cricket and watch matches. There is nothing wrong in it. However, I am concerned about the negative impact it may have on students. It will have bad effect on their studies.

I sometimes wish that the people of South Asian countries were less passionate about sports. This can help the students to study better. Pakistan, Sri Lanka and India have won the title of World Cup Cricket once. So, their people are crazy for it. Bangladesh could not win any major trophy in this sports until now but that did not have any problem to make it as the most popular sports.

You can find detailed coverage of Twenty20 World Cup 2009 in Sports37 blog.

Wednesday, May 27, 2009

Maruti Suzuki Alto Recorded Highest ever Monthly Sales in March 2009

Maruti Suzuki India has seen excellent success in the domestic market for its Alto car model in March 2009. The company sold a record 23569 Alto cars in India in March which has become the highest ever monthly sales for Maruti Suzuki Alto.

Maruti Alto has seen extensive success in Indian car market since its launch in 2000 and at this moment, this is the best selling hatchback car in India and it has become the largest selling car in India since 2006. The city car has become the only third model from Maruti Suzuki to cross the 1 lakh production mark earlier last year, after Maruti 800 and Omni models.

Maruti Suzuki celebrated its silver jubilee in 2008-09 and the celebration was fueled up as the company sold 70,023 units that marked the highest ever yearly sales in the 25-year history of the company. The company has also become very active in exporting cars from India in several European countries. Maruti A-star has become a very successful model of the company in the overseas markets.

Related article:


New Indian Government and President Barack Obama

A new government is in India and it is led by Prime Minister Manmohan Singh. He was the prime minister in the previous government too but at that time, he had to depend on the support of left parties for survival. So, he did not have strong mandate to carry out economic reforms or even improve relation with the US. Now, Manmohan Singh has enough majority and he is not dependent on the left parties. So, his hands are more open. On the other hand, Obama has the opportunity to deal with a new government in Delhi.

William Cohen has written a nice commentary in Financial Times and he wrote:

The president also has an opportunity to expand trade and investment. Between 2000 and 2007, US-India trade increased by more than 300 per cent – and foreign direct investment reached all-time highs as well. Mr Obama’s recent criticism of tax incentives that move jobs from Buffalo to Bangalore, however, has caused Indians to question whether this will translate into increased protectionism. We must seize the opportunity presented by india’s election to address such concerns and forge new ties of trade and investment.

Of course, the same thing must come from Indian leaders too. They must show that they are willing to improve bilateral ties and India is willing to increase trade between the two countries.

Breaking News: Barcelona is the Champion of UEFA Champions League 2009

Barcelona has become the champion of Champions league 2009 by defeating Manchester United 2-0 in the final. With this victory, Barcelona manager Pep Guardiola has become the youngest ever manager to win Champions league in his debut season. On the other hand, Manchester United failed to become the first ever European team to win Champions league title on consecutive seasons. Manchester United went into the game on the back of record leveling 25-match unbeaten steak in Europe and another victory would see them making a new record of longest unbeaten streak in Europe. Samuel Eto’o opened scoring for Barcelona which reminded of his goal in Barcelona’s 2006 victory over Arsenal in the Champions league final. Messi doubled the lead in the second half, scoring his 9th goal in 12 European appearances this season, and thus, becoming the leading scorer of the tournament.

Manchester United started off very well in the match as the Red Devils got a scoring chance in the first minute of the game. Ronaldo’s free kick was not successfully gripped by Barcelona goalkeeper and fell in the box, but Park failed to score from a close range shot. However, Barcelona went ahead in the 10th minute when Samuel Eto’o scored against the run of play. Eto’o received a pass from the midfield and then slot it pass into United post with a left foot strike. After the goal, Barcelona got on top and made a number of threatening attack. Ronaldo got an excellent chance in the 17th minute, but Pique turned him down illegally just outside the box. Barcelona then dominated most of the time before half time and the Catalan side was leading 1-0 at the half time.

Barcelona got off to a good start to the second half. Just four minutes into the second half, Thierry Henry missed perhaps the easiest chance of the game when he failed to score after getting United keeper alone in the post. No doubt, the credit must go to Manchester United keeper Edwin van der Ser who superbly blocked it for corner. Luck once again went against Barcelona just four minutes later when Xavi’s free kick hit the goal bar. Barcelona doubled the lead thanks to Lionel Messi in the 71st minute when Messi headed Xavi’s excellent cross home to break the heart of United fans.

Just a minute after conceding the second goal, Manchester United got an excellent chance of reducing Barca’s lead, but Ronaldo failed to score from it. After that Manchester United tried to create chances and in fact, they created some good scoring chances that United squandered off. Barcelona captain Carlos Puyol got a chance to increase the lead in the 85th minute, but once again ManU keeper saved the English champions. In the end, Manchester United tried their best to bring out a goal by deploying Rooney, Tevez, Berbatov, Ronaldo together in attack.

Tata Received More Response for Nano’s Luxury Model

You know that Tata Motors has created a buzz in the Indian car market with its world’s cheapest car Nano which goes on sale with the initial price of $2,600. Tata Motors needed almost 4 years and 500 engineers to come up with Nano minicar. However, now it seems that most of the car users are less attracted by the base model of Nano; rather they are more attracted towards the luxury model of Nano which will have air-conditioning and cup board facility.

Tata Nano received 203,000 bookings for Nano car in which 20% bookings were for the base model, while 40% customers booked for the luxury model of the car. You might think that this is bad news for Tata, but the reality is that this could open up an opportunity for Tata Motors to make more profit because the profit margin in the luxury model is better than the base model.

Related article: