Biz Briefs

Sri Lanka ranked 62 in GFS Index

The 2012 Global Food Security Index has ranked Sri Lanka in the 62nd position out of 105 countries. The Global Food Security Index considers the core issues of affordability, availability and quality across a set of 105 countries when ranking the countries. According to the Index, the United States of America has been ranked number one while Congo is at the worst position, at 105.

Apartments for shanty dwellers

Sri Lanka's urban agency will be given state land in 15 locations to build highrise apartments for people living in underserved settlements in the capital Colombo, Cabinet spokesman, Minister Keheliya Rambukwelle said.

Sri Lanka's Urban Development Authority is building 65,000 housing units to relocate people in underserved areas. The freed land will be used for commercial and mixed development projects.

Global food prices on the rise

Global food prices will probably stay high in the next six months after drought in the U.S. and Russia cut grain supplies, the Food and Agriculture Organisation of the UN said.

The global market "will switch to a short supply mode" for the first time in two years, Bloomberg reported quoting the regional representative for Asia and Pacific of the FAO.

Merkel to visit Athens

German Chancellor Angela Merkel will visit Greece next week to support "stronger" reform efforts in Athens, in her first trip since the crisis erupted nearly three years ago.

Merkel will travel to Athens on Tuesday for talks with counterpart Antonis Samaras that will revolve around the situation in the debt-wracked country as well as the wider eurozone, Steffen Seibert told a regular news briefing.

"The message that Germany can take to Greece ... is that we want to help Greece stabilise itself within the eurozone," he stressed.

"We are doing that by massively contributing to the two aid packages that are supposed to help Greece come out of the crisis.

Spain denied bailout - Luis de Guindos

The prospect of more government cuts sparked violent protests in Madrid last week. However, Spain's Economy Minister Luis de Guindos has denied that his country needs a bailout, international media reported.

His speech in London was interrupted by a group of protesters who waved placards saying "Spain for sale" - opposition to austerity cuts is high in the eurozone's fourth-largest economy. - BBC

AP Trade Facilitation Forum

The Ceylon Chamber of Commerce will co-host the Asia Pacific Trade Facilitation Forum 2012 (APTFF) in Colombo with United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the Asian Development Bank (ADB).

The event will be held on October 30 and 31 at Hotel Galadari. An exhibition, a number of side events and capacity building programs on the subject will be held from October 29 to November 2.

ComBank rewards MoneyGram recipients

Winners of the promotion with the management of Commercial Bank and MoneyGram. At right a winner receives a gift from Assistant General Manager Operations, Commercial Bank, Palitha Perera and Senior Regional Director, MoneyGram South Asia, Harsh Lambah .

Bank of Ceylon marks 73rd anniversary

A mobile service organised by the Akkaraipattu Bank of Ceylon branch to mark its 73rd anniversary was held at the Great Education Centre in the Alayadivembu DS Division recently. Here the Regional Manager, Ampara, Piriyantha Kumara hands over a pass book to a new RunKekulu children's savings account holder. Manager of the Akkaraipattu Branch, M.I.M. Haniffa looks on. Pic: I.L.M. Rizan, Addalaichenai Central Correspondent

Cathay Pacific turns 19

Cathay Pacific Airways celebrated 19 years of service in Sri Lanka on October 1 with a series of promotions to a host of exciting destinations in the region. The promotional Economy Class fares issued between October 1-5 to Bangkok, Singapore, Hong Kong, Beijing, Shanghai, Tokyo and Seoul. Passengers can travel between October 2 and November 15, 2012.

Orient Finance in Kilinochchi

Orient Finance PLC opened a new Customer Service Centre in Killinochchi recently. Orient Finance PLC has branches in Matara, Kurunegala, Ampara, Kochchikade and Welisara and customer service centres in Gampaha, Avissawella, Galle, Kandy, Vavuniya, Kalutara, Anuradhapura and Kegalle.

"The Killinochchi customer service centre is geared to serve customers with varying financing needs pertaining to leases, hire purchase and debt factoring. A special focus of this office would be servicing the SME sector in the area," a spokesman for the Company said.

New motor insurance policy from HNB Assurance

HNB Assurance launched 'MotorGuard Xtra', at an outdoor public awareness campaign in Colombo. A teaser campaign was carried out starting from Thimbirigasyaya, Borella, Dehiwala and Peliyagoda main junctions to attract customers.