General Discussion

Disclaimer:- I'm not an Investment advisor of any kind - my opinions are based on my own observations. I encourage everyone to do their own research to verify what I say and make the decisions that are right for them.

As you've probably been reading in the papers the GOSL is frantically trying to borrow money as they are rapidly running out.

There are negotiations ongoing with the IMF - they are the "lender of last resort". IMF are bastards - any loans always come with conditions. These always hurt the poorest people in the country.

There's plenty of information online about how the IMF operates.

The last time the GOSL borrowed money from the IMF one of the conditions was the devaluation of the Rupee. About 9 or 10 years ago the Rupee devalued over the course of a weekend. The official story blamed "currency speculators".

My guess is something similar is about to happen.

How to counter this?

Obviously you don't want to be holding Rupees.

Converting to Foreign currencies is an option (beware of the different rates between buying and selling). When I lived in Sri Lanka I had minimal Rupees in my account - I kept everything in Dollars and Euros. I know the rules are different for Sri Lankan nationals.

The other option is "hard" assets. These include Gold/Silver/Land/Property.

Land/Property are normally long-term investments and tie up money for a long time.

I'm not familiar with the Gold/Silver market in Sri Lanka but this is something that people could look into. The benefit of this market is that it is relatively easy to buy and sell Gold/Silver which makes it a good way to store wealth both short and long term. Normally you pay "spot price" plus a premium. The same sometimes goes for selling.

I personally own Gold and Silver (actual coins - not a piece of paper).

The idea is to convert Rupees before the devaluation and then convert back after this takes place. Depending on the premiums involved this may or may not be a good option.

Example:- You pay "Spot Price" + 5% for Silver. The Rupee devalues 10%. You make 5% on your investment.

There is plenty of information available on the Internet and I encourage people to do their own research.

You may not be able to stop your Politicians but you can protect your savings.

Hope this information is useful.

Sri Lanka to be made a global mega city: PM

Sri Lanka will be developed into a global city that will go between Dubai and Singapore where international trade and movement is concerned, Prime Minister Ranil Wickremesinghe said today.

Speaking at the Sri Lanka Economic Forum 2016 in Colombo, the Prime Minister said the time had come to make plans to fulfil this objective. - Source & See more at: http://www.dailymirror.lk/102205/sl-....GupQuIkk.dpuf

Nissan Leaf - Electric Revolution of
Sri Lanka

2015 Nissan Leaf review

The Nissan Leaf is the world's best-selling electric car, and this new 30kWh version has a longer 155-mile range. We've been finding out what it's like and what else is new.



In case you’ve missed it, the electric revolution is underway. We’ve already got electric super saloons such as the Tesla Model S, and even a hybrid-electric supercar in the form of the BMW i8. If you want to sign up to this revolution but can’t afford those cars' hefty price tags, the Nissan Leaf 24kWh has offered you membership to the electric vehicle (EV) club since 2010.

However, if the 24kWh version’s claimed range of 124 miles (which in the real world is nearer 70 to 80 miles) isn't enough for you, then you'll be interested to hear that the world’s most popular EV can now go 25% farther.

It's thanks to the bigger battery in this new 30kWh model, which sits alongside the existing line-up. Nissan reckons it’ll manage a maximum of 155 miles on a single charge, which in general driving will be more like 100 to 120 miles.

The bigger battery is only available from the mid-level Acenta trim upwards, so prices start from £24,490 if you include the £5000 government subsidy. For that price, you also get a warranty that covers the battery for up to eight years or 100,000 miles. Curiously, the warranty for the 24kWh version remains at five years or 60,000 miles.

The new car is 21kg heavier than the 24kWh version, but that shouldn’t make too much difference to how it feels on the road. Indeed, the performance is identical, taking 11.5sec to reach 62mph, before heading to a top speed of just less than 90mph.

Whether you chose the existing 24kWh or the 30kWH version, all Leafs from Acenta trim up benefit from an improved infotainment system called Nissanconnect EV. This includes a DAB radio, 7.0in touchscreen and sat-nav, plus a host of new features.

For instance, the system can tell you how far you are from the nearest charging point – of which there are currently an estimated 9384 spread across the UK, including 500 30-minute rapid chargers - and whether or not it’s occupied.

Using an app on your smartphone you can also check remotely on the Leaf’s charge status, or, if you’ve forgotten where you left it, locate it on a map. On frosty mornings, you can even use your phone to switch on the car’s heater, making it nice and toasty before the morning commute.

Srilankan President's Foreign Tours

It is good to see that new president of Srilanka Mr Maithripala Sirisena visiedt India using regular UL passenger flight instead of using a dedicated flight as done by his predecessor. He flew using UL 195 to New Delhi with a vey limited number of government delegation. This is a very good sign and saves lots of money for UL.
Except Mr Rajapaksha all other previous heads of state used to fly for state foreign visits using regular passagenger flight.

If you're from the UK and don't already know, there's a great TV programme on British Airways which you can watch on BBC Iplayer. There's 3 episodes.

If you live outside of the UK and wish to watch it, I would recommend using Google Chrome and downloading a Google Chrome app called Hola. It's a great app which allows you to watch programmes from another country (which would other wise be restricted if you are not from that country).

Hi guys... can anyone help me on the quickest way to to share news/articles to the forum?? i.e. not just pasting a link... ( i need help on how to attach few images and post an article) thanks guys!!!

Sri Lanka Lotus Tower

It's definitely good news, Sri Lanka need bigger roads some thing like this

JICA assistance to develop urban transport system for Colombo metropolitan region

Japan International Cooperation Agency (JICA) and Ministry of Transport have commenced a technical cooperation project, to conduct a comprehensive study and formulate an urban transport master plan for the Colombo metropolitan region.

The study will focus on identifying the optimum methods of resolving traffic congestion and transport difficulties faced by the public in Colombo city and suburbs. It will review present conditions, on-going developments and future plans, to identify short and mid term measures to improve the existing transport system, and in the long term to establish possibly a new mode of transport as the core system to fulfil the growing public and corporate mobility needs.

The study will consist of a number of surveys to obtain accurate and current data of public requirements as well as traffic conditions. Ministry of Transport together with JICA conducted a trial survey in early 2012 in preparation for the main surveys. "We thank the public who contributed to the preparatory survey with their valuable input, and request public support also for the main surveys to ensure the core transport system is determined in line with the actual requirements of the public", said Mr. K. D. Dhammika Perera, Secretary of the Ministry of Transport.

The study is conducted under JICA’s technical cooperation assistance and is provided on the basis of a grant. Feasibility analysis for the identified core transport system would be also included in the study.

"Depending on the results of the study, we would positively consider financing the implementation of the core transport system under concessionary Official Development Assistance loan terms" said Harumi Ao, Chief Representative of JICA Sri Lanka Office.

The Record of Discussion for conducting the study was signed by K. D. Dhammika Perera, Secretary, Ministry of Transport in the presence of Kumar Welgama, Minister of Transport and Harumi Ao, Chief Representative of JICA – Sri Lanka.

JICA’s on-going support to development of the transport sector in Sri Lanka include financial and technical assistance for improvement of the road network including rural, provincial and national roads, construction of Southern Expressway and Colombo Outer Circular Expressway, and most recently the expansion and development of Phase II of Bandaranaike International Airport.

FTI group to operate a cruise line to Colombo port



FTI Group, one of Germany’s leading tour operators will start operating a cruise line to Colombo Port over a four month period, starting from end this year.

Accordingly, the company will deploy the “FTI BERLIN” its flagship cruise liner, which will call at the Colombo port carrying up market Austrian, German and Swiss clientele.

The liner will call at and depart Colombo ten times between December 2012 and March 2013.

It will cruise from Dubai to Colombo and Colombo to Dubai with stops in Muscat and the Indian ports of Mumbai, Goa and Kochi.

Embarkation and disembarkation can be done both in Dubai and Colombo.

“All passengers disembarking or starting their cruise in Sri Lanka have the option of spending additional holidays in the Island, on the beaches or on round trips”, added a statement issued by the operator.

FTI’s Group CEO Dietmar Gunz who was in Colombo yesterday to announce the new plans said, “We are assured to be successful with this innovative cruise routing between Dubai and Sri Lanka”

The Company’s statement also said, the vessel ‘FTI Berlin’ consist of two restaurants, a bar, a lounge and a beer garden, one outdoor pool, one indoor pool and also a Spa etc.

Diethelm Travels, which is a subsidiary of the Hemas Group, Sri Lanka is the local partner of the FTI group

Thanks for notification. I corrected my post with correct link and added another link also above that which has good pictures of the places.

did you post the correct link??

Country Branding

Banuthev, thanks for asking tourism info regarding Madurai and giving me an opportunity to explain the same. Madurai is the 2nd most visited place in TamilNadu next only to Chennai. It is because of the world famous Meenakshi Amman temple that was even about to become a world wonder. Apart from the Meenakshi Amman Temple, the town planning of the historical city will be awesome with planned ring roads kind of roads well in before several hundred years. You can find a mixture of tourism options in Madurai. Temple tourism (apart from Meenakshi amman temple, there are plenty saying about the temple architecture of the Pandya and Naicker rulers), Heritage tourism, Jasmine and agri markets tourism, Architectural tourism like palaces and Chettinad bungalows, Freedom fighters places are here, Jain caves, Mahatma Gandhi museum, Hill stations such as Meghamalai, Kodaikanal are there in the vicinity. Courtallam waterfalls (about 8 water falls are available there), Kanyakumari and Rameswaram beaches and temples are here, Many of the abodes of Lord Murugan such as Tiruparankundram, Pazhamuthirsolai, Tiruchendur, Palani etc. Meghamalai, Kalakkad are tiger reserves and give you thrilling wild life sighting also.

Since it is a very large content and explanation could not be done that easily, please try this link : http://www.maduraitourism.info/places-of-interest/

It has good details on each site when clicked.

To have a view of the places in the form of pictures, use this : http://www.developmenttourism.in/tou...uraiwonder.php

And if you need to explore the less known heritage sites, use this link : http://www.developmenttourism.in/maduraiwalk.php?id=9

This has many powerpoint presentations on less trodden places.

If you want to see everything in detail during your tour with good relaxation, it will take about 5 to 8 days for Madurai and allied South Tamilnadu. There are a lot many tourist guides available whose details may be availed in most cases in the hotel where you stay itself.

If you need more, let me know.

Thanks.

Country Branding

Promote your Travel Destinaton with Air Sri Lanka Forum..

Lanka records highest ever GDP

The Sri Lankan economy registered its highest post-independence growth rate of 8.3 per cent in 2011, over the 8 per cent growth in 2010, with increased contribution from Industry and Services sectors, the Central Bank said this evening.

The growth in Agriculture sector was subdued, but was adequate to enforce a substantial downward pressure on domestic commodity prices. While year-on-year non-food inflation increased in March 2012 due to the full impact of the adjustment of domestic energy prices and bus fares, year-on-year food inflation remained negative for the third consecutive month.

Overall, the year-on-year change in the Colombo Consumers’ Price Index increased to 5.5 per cent in March 2012 from 2.7 per cent in February.

Domestic foreign exchange market has shown clear signs of stabilization following the expected volatility during the early stages of allowing greater flexibility in the Rupee/US dollar exchange rate, the bank said.

Accordingly, the Rupee, which depreciated against the US dollar to Rs. 130.41 on 21st March, appreciated by 3.94 per cent during the period from 21st March to 4th April 2012 to reach Rs. 125.47.

The increased foreign exchange inflows contributed to this stabilisation, while prudential measures implemented by the Central Bank supported this development.
Significant foreign inflows in the first three months of the year included the inflows to the Government securities market amounting to US dollars 400 million and inflows to the Colombo Stock Exchange of US dollars 164 million. Thereafter, on 2nd April 2012, the eighth tranche under the IMF-SBA facility amounting to US dollars 427 million was also received.

These and other foreign receipts to the private sector and the Government, have now raised the gross official reserves (without ACU balances) to approximately US dollars 6.1 billion as at 4th April 2012, which is equivalent to 3.6 months of imports, the bank said.

The Central bank also said that broad money supply (M2b) grew by 21.9 per cent, year-on-year, in February 2012.

Net Credit to the Government (NCG), increased substantially by Rs. 136.3 billion during the first two months of the year, while credit extended to the private sector also increased, year on-year, by 34.4 per cent (amounting to around Rs.100 billion in the first two months of the year).

These developments resulted in the continued high growth of monetary aggregates, although the recent policy measures introduced by the Central Bank are expected to decelerate the expansion in broad money supply in the near term. Towards such outcome, it is essential that the current shortfall in Government revenue is effectively addressed and public expenditure is further rationalised, so as to significantly lower the reliance on bank sources to finance the Government budget deficit.

Such a course of action would reverse the trend observed in the first quarter of 2012, and in that context, the recent upward revision of customs and excise duties on selected items by the Government is a display of its commitment to the necessary fiscal consolidation process, the Central Bank added.