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Shares fall for 5th session; rupee slightly weaker

Views - 46 Saturday, 23 March 2019 00:27

REUTERS: Shares fell for the fifth straight session on Friday and posted their lowest close in more than six years, dragged by telecom stocks, but foreign investors’ buying capped the decline.

Tea auction sees mixed demand

Views - 30 Saturday, 23 March 2019 00:26

The tea auction this week had on offer 6.5 M/kgs with Low Grown/Large Leaf teas continuing to meet with good demand but High and Mid Grown Small Leaf teas encountered a sluggish market, Forbes and Walker Tea Brokers said in their latest report. Ex-Es

Opposition unhappy over EPF return to market

Views - 88 Saturday, 23 March 2019 00:26

The Opposition yesterday disapproved of the Government’s decision to allow the Employees Provident Fund (EPF) to re-enter the Colombo stock market, voicing fears that the move could result in losses to the country’s largest pension fund. Oppositi

South Indian political link in $ 3.8 b refinery

Views - 80 Saturday, 23 March 2019 00:25

A Singapore-based company in which stakes are held by the family members of former Union Minister of State S. Jagathrakshakan of the DMK has been linked to a record foreign direct investment of $ 3.85 billio

Thai parties head into final battle ahead of Sunday vote

Views - 24 Saturday, 23 March 2019 00:24

Reuters: Thai political parties on Friday held their largest rallies yet, two days ahead of the country’s first election since a military coup nearly five years ago, but one that critics say will deny power to the most popular party. Making his fir

Growth in motor premiums to slow on vehicle taxes

Views - 27 Saturday, 23 March 2019 00:23

The increase in taxes on imported vehicles in Sri Lanka is likely to cause the growth in motor insurance policy premiums to slow in the near term, says Fitch Ratings. The Govern

SL banks manage capital impact of SLFRS 9: Fitch

Views - 50 Saturday, 23 March 2019 00:23

Sri Lankan banks have been able to manage the capital impact of first-time adoption of SLFRS 9 accounting standards, international rating agency Fitch said yesterday. Fitch s

Sri Lanka on show as Jaguar I-PACE eTrophy races to glory in Sanya, China today

Views - 47 Saturday, 23 March 2019 00:15

Sri Lanka will be in the spotlight as the history-making Jaguar I-Pace eTrophy revs up for a fresh challenge today in the resort city of Sanya in China ahead of the ABB FIA Formula E Championship.

Power problems prolonged

Views - 71 Saturday, 23 March 2019 00:10

Power Minister Ravi Karunanayake yesterday remained steadfast in his refusal to acknowledge the existence of scheduled power cuts even though the Ceylon Electricity Board (CEB) continues to ca

Inflation rises to 2.4% in Feb.

Views - 295 Friday, 22 March 2019 00:20

Inflation rose to 2.4% in February from 1.2% in January, largely on non-food items, the Census and Statistics Department said yesterday. Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=10

New analytical unit established

Views - 786 Friday, 22 March 2019 00:15

The Government has established a new analytical unit to improve scientific analysis and infuse it to decision making, Non-Cabinet Minister of Economic Reforms and Public Distribution Dr. Harsha de Silva told Parliament yesterday. According to de Silv

Shares fall for fourth session; rupee ends firmer

Views - 354 Friday, 22 March 2019 00:10

Reuters: Sri Lanka’s share index fell for a fourth straight session on Thursday to a more than 6-year closing low as investors exited the island nation’s risky assets, while they awaited cues from the third and final vote on the 2019 Budget, mark

Parallel construction of Central Expressway to offset delays

Views - 1564 Friday, 22 March 2019 00:08

Construction of the Central Expressway Phase I will have multiple sections commencing simultaneously to cut down delays, the Road Development Authority (RDA) said yesterday, even though funding for the project remains gridloc

No agreement with Oman Oil Ministry for refinery: BOI

Views - 387 Friday, 22 March 2019 00:05

The Board of Investment (BoI) yesterday denied there was an agreement between the Oman Oil and Gas Ministry and Silver Park International to build a $ 3.8 billion refinery in Hambantota but insisted that the project would move ahead. Responding to a

Sri Lanka to discuss Draft National Policy on LNG

Views - 119 Friday, 22 March 2019 00:00

The Ministry of Highways and Road Development together with Petroleum Resources Development has developed the Draft National Policy on Liquid Natural Gas with a view to establish and develop the natural gas industry in Sri Lanka. With the view of fu

Water for all!

Views - 222 Friday, 22 March 2019 00:00

Muthun Murugaiya provides water for 15 families. The 60-year-old has the only working well in the neighbourhood in his front garden. Just feet away, the community well lies dry – groundwater is low in the village of Veemankamam in Sri Lanka’s Jaf

‘SheLeads’ IWD event by Google’s Womenwill to focus on leadership and gender balance

Views - 65 Friday, 22 March 2019 00:00

A balanced world is a better world. This is the idea behind this year’s International Women’s Day, which was celebrated on 8 March. In celebrating this annual event, Google’s Womenwill program focuses on the idea that bringing about gender equ

SEC Chief welcomes PM’s remark on EPF’s return to stock market

Views - 475 Thursday, 21 March 2019 01:52

The Securities and Exchange Commission Chairman Ranel Wijesinha yesterday welcomed Prime Minister Ranil Wickremesinghe’s Tuesday announcement on the return of Employees’ Provident Fund (EPF) to the Colombo stock market.

Diplomats show way forward for Sri Lanka

Views - 992 Thursday, 21 March 2019 01:51

Ten diplomats on Tuesday shared their frank views on a wide range of topics as to what they think is the best way forward for Sri Lanka at the packed Fireside Chat 2019 organised by the Daily FT, ICC SL and CIMA at Hilton Colombo.Envoys of UK James D

Dhammika calls for rethink of policies for growth

Views - 639 Thursday, 21 March 2019 01:50

Well-known businessman Dhammika Perera on Tuesday stressed that Sri Lanka needs to focus on growth that creates jobs and promotes innovation to move forward from the country’s current middle income status.

UN rights chief warns Sri Lanka of fresh conflict

Views - 363 Thursday, 21 March 2019 01:42

The UN human rights chief yesterday warned Sri Lanka it could slip back to conflict unless it addressed the “worst crimes” during the final stages of its ethnic war. Michelle Bachelet told the Human Rights Council that Sri Lanka...

Singapore rejects Sirisena’s allegation on Mahendran

Views - 535 Thursday, 21 March 2019 01:38

Singapore yesterday rejected President Maithripala Sirisena’s allegation that it was sheltering a former Central Bank chief wanted for fraud, saying Colombo failed to provide documents to support its extradition request.

Case against Lankan tyre exports dismissed by US Courts

Views - 338 Thursday, 21 March 2019 01:35

Sri Lanka has achieved another legal victory in the case of countervailing duties imposed by the US against off-the-road (OTR) tyres from Sri Lanka, after the US Department of Commerce decided to withdraw an appeal against the decision of the US Cour

Oman denies it has agreed to invest in Sri Lanka oil refinery project

Views - 670 Thursday, 21 March 2019 01:34

Oman’s Oil Ministry yesterday denied being part of a $ 3.85 billion plan to build an oil refinery in Sri Lanka, a day after the Government in Colombo announced the Arab country’s participation.

Sri Lanka quarterly growth slows to near 4-year low on political crisis

Views - 266 Thursday, 21 March 2019 01:34

Sri Lanka’s last quarter economic growth slowed to a nearly four-year low, Government data showed on Tuesday, as a 51-day political crisis took a toll on the industrial sector. Colombo posted 1.8% growth in the fourth quarter of 2018....

CB clarifies on ISB sales

Views - 531 Wednesday, 20 March 2019 00:20

The Central Bank yesterday insisted that it has followed transparency procedures and due process when issuing International Sovereign Bonds (ISBs) and that the interest rates were according to market standards. With reference to the recent paper a

CSE falls to more than 6-year low on foreign selling; Rupee weaker

Views - 403 Wednesday, 20 March 2019 00:15

Colombo (Reuters): Sri Lanka’s share index fell for the third straight session on Tuesday to a more than 6-year closing low in light trading volume with foreign investors on the selling side, as the market awaits direction from the third and final

Retraining Arts graduates needed for private sector job demands

Views - 313 Wednesday, 20 March 2019 00:12

By Ashwin Hemmathagama – Our Lobby Correspondent Giving Arts students, who make up the largest component of unemployed graduates, the chance to start STEM subjects would make them more employable, State Minister of Finance Eran Wickramaratne said y

JVP irate over non-collection of taxes from distillery company

Views - 174 Wednesday, 20 March 2019 00:10

A distillery company linked to Perpetual Treasuries head Arjun Aloysius has skipped paying tax money estimated at Rs. 50.6 million, the Opposition held yesterday in Parliament. JVP lawmaker Dr. Nalinda Jayatissa, joining the Committee Stage Program o

NBFIs under pressure from asset quality and profitability: Fitch

Views - 338 Wednesday, 20 March 2019 00:05

Fitch Ratings expects Sri Lankan non-banking financial institutions (NBFI) to continue to face pressure on asset quality and profitability in the medium term, given slowing growth and movement away from vehicle financing, which was earlier a core seg

Today's Columnists

M.N. Nambiar: Birth centenary of Tamil cinema’s greatest screen villain

Saturday, 23 March 2019

Thursday 7 March this year was the birth centenary of Indian film actor Manjeri Narayanan Nambiar known to the world at large as M.N. Nambiar. The great Thespian who made a name for himself by acting in negative roles was hailed by many as the greate

An innocent utopian dream

Saturday, 23 March 2019

In an article published in the Daily FT on 19 February 2015, I predicted the trajectory of the ‘Yahapalana’ Government. In that piece of conjecture captioned ‘Maithri’s Mandate and Ranil’s Royalist Regency’ I said that Sri Lanka was witne

Historic betrayal of SLMC and ACMC

Saturday, 23 March 2019

It appears, according to a news report that the leaders of SLMC, ACMC and DPF during a meeting with President Sirisena to discuss constitutional reforms have “reneged on their promise to back the ongoing efforts to abolish the executive presidency

Playing with history

Friday, 22 March 2019

First of all, I was delighted to note a counter criticism ‘A reply to Victor Ivan’s ‘What went wrong with Sri Lanka?’ published in the Financial Times on 11 March in response to my article which appeared in the same newspaper on 22 February.

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