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REITS finally coming!

Views - 690 Wednesday, 16 January 2019 00:10

The Colombo Stock Exchange (CSE) is planning to introduce Real Estate Investment Trusts (REITs) as a new product to the market this year, a top official confirmed. “We are hoping that we will be able to facilitate REITs as a new product before the

People’s Merchant draws motor industry specialist Sterling as strategic investor

Views - 483 Wednesday, 16 January 2019 00:09

The People’s Merchant Finance PLC (PMB) has succeeded in striking a deal with motor industry specialist Sterling to come in as a strategic investor infusing much needed capital. Facilitation of entry of Sterling Capital Investments Ltd., (SCI) is v

Sri Lanka says has $300 m loan offer from Bank of China, may increase to $1 b

Views - 373 Wednesday, 16 January 2019 00:07

Sri Lanka is considering an offer from Bank of China for a loan of $300 million, which could be raised to $1 billion, to help it meet repayments in coming months, junior finance minister Eran Wickramaratne told Reuters on Tuesday. He also confirmed

Sri Lanka seeks to increase swap amount to $1 b from India Central Bank

Views - 247 Wednesday, 16 January 2019 00:06

NEW DELHI, REUTERS: Sri Lanka has begun talks with India’s Central Bank to increase its swap amount to $ 1 billion, the acting Finance Minister said yesterday, as it struggles with the rising cost of its debt. State Minister for Finance Eran Wickr

SL and Philippines to sign 6 MoUs

Views - 479 Wednesday, 16 January 2019 00:05

Sri Lanka and the Philippines will sign six Memorandum of Understandings this week, during the historic visit of President Maithripala Sirisena to Manila. The MoUs include focus on broader areas of agriculture, fishery and dairy and animal husbandry,

IATA renews SriLankan Airlines’ IOSA registry

Views - 189 Wednesday, 16 January 2019 00:04

The International Air Travel Association (IATA) has renewed the IATA Operational Safety Audit (IOSA) registry of SriLankan Airlines for a further two year period up to 4 December 2020. IOSA is the global airline industry’s benchmark for an airline

Colombo voted the ‘must-photograph’ travel destination of 2019

Views - 571 Wednesday, 16 January 2019 00:03

Colombo in Sri Lanka has been named the ‘must-photograph’ travel destination of 2019, in a study, according to a report in the UK’s Sun newspaper. Research of more than 1.3 million social media posts found the Asian city is the location travel

CSE to conduct two roadshows in 1H

Views - 184 Wednesday, 16 January 2019 00:01

Colombo Stock Exchange Chairman Ray Abeywardena confirmed that plans are underway to conduct two roadshows during the first half of this year, adding that the roadshows conducted in 2018 had positive outcomes. “We are planning two roadshows in cons

Ethical Extracts goes global via strategic partnership between MANE and Akbar Brothers

Views - 472 Wednesday, 16 January 2019 00:00

MANE, one of the top flavour and fragrance houses in the world, recently announced its strategic partnership with Akbar Brothers, one of the largest traders of tea, to provide high-end tea and coffee extracts for the global market. The partnership wi

Deputy Minister of Ports assumes duties

Views - 150 Tuesday, 15 January 2019 01:04

The newly appointed Deputy Minister of Ports and Shipping, Mohamed Abdullah Mohamed Maharoof, yesterday assumed duties and pledged to improve Sri Lanka’s ports to global standard. The event was held with the participation of Minister of Ports and S

Animal Welfare Bill gets renewed momentum

Views - 231 Tuesday, 15 January 2019 01:03

By Madushka Balasuriya Following the recent uproar over the immolation of a dog in Negombo on New Year’s Eve, animal welfare activists over the weekend called on the public for support as they looked to push the Government into enacting a new Anim

Stable outlook for Asia Pacific sovereigns in 2019, says Moody’s

Views - 88 Tuesday, 15 January 2019 01:02

Moody’s Investors Service has said that its outlook for sovereign creditworthiness in Asia Pacific (APAC) in 2019 is stable overall, reflecting its expectations for the fundamental credit conditions that will drive sovereign credit over the next 12

IMF meetings postponed

Views - 291 Tuesday, 15 January 2019 01:02

Meetings scheduled between top officials of the International Monetary Fund (IMF) and the Sri Lankan Government delegation led by Finance Minister Mangala Samaraweera yesterday were postponed after a snowstorm hit Washington. “All meetings, i

Samsung to launch India-first smartphones to counter Chinese rivals

Views - 145 Tuesday, 15 January 2019 01:01

MUMBAI (Reuters): Samsung plans to launch a budget smartphone series in India ahead of a global release, aiming to regain ground ceded to Chinese rivals such as Xiaomi in the world’s second-biggest mobile phone market. The South Korean company’s

SL to repay $1 b foreign debt from reserves: CB Chief

Views - 350 Tuesday, 15 January 2019 01:01

Reuters: Sri Lanka will repay a $1 billion five-year sovereign bond due on Monday entirely from its reserves, Central Bank Governor Dr. Indrajit Coomaraswamy said, after three of its state-run banks failed to raise funds from foreign sources. The Go

Rupee ends weaker in dull trade; Bourse gains

Views - 163 Tuesday, 15 January 2019 01:00

Reuters: Sri Lanka’s rupee closed weaker on Monday in thin trade due to dollar demand from banks and importers, while political uncertainty also dented investor sentiment. Sri Lankan shares recovered from a more than six-week closing low hit on Fr

Hayleys completes Hunas Falls sale; share gains further

Views - 371 Tuesday, 15 January 2019 01:00

Hayleys Group yesterday sold its controlling 66.2% stake in Hunas Falls Hotels PLC for Rs. 696.3 million to Serenity Lake Leisure Ltd. The stakes were held by Carbotels Ltd., (50.22%) and Amaya Leisure PLC (15.98%). Hayleys... The deal amounting to

Gota and US citizenship

Views - 1172 Monday, 14 January 2019 00:36

Speculation over former Defence Secretary Gotabhaya Rajapaksa having handed over documents to renounce his citizenship, allowing him to contest for the Presidential elections, was denied by his spokesman yesterday.

Govt. team arrives in Washington for IMF talks

Views - 596 Monday, 14 January 2019 00:35

The Sri Lankan delegation, headed by Finance Minister Mangala Samaraweera, arrived in Washington yesterday to begin talks with the International Monetary Fund (IMF) to put the $ 1.5 billion Extended Fund Facility (EFF) program back on track, Non-Cabi

Govt. to use reserves to repay $ 1 b loan

Views - 403 Monday, 14 January 2019 00:34

The Government has arranged $ 1 billion to repay a five-year sovereign bond maturing next week partly from its declining reserves, sources from both the Central Bank and Finance Ministry said on Friday.

Windfall for Hayleys Group and other shareholders from Hunas Falls Hotels deal

Views - 1547 Monday, 14 January 2019 00:33

Hayleys Group, other shareholders and retailers are in for a windfall with the impending purchase of control of Hunas Falls Hotels PLC at a premium by Serenity Lake Leisure Ltd. Hayleys Group on Friday announced that Carbotels Ltd., (owning 50.22%) a

COPE gets new faces

Views - 596 Monday, 14 January 2019 00:32

The Committee on Public Enterprises (COPE) has been appointed with 16 new members to serve for the remaining period of the eighth Parliament. City Planning, Water Supply and Higher Education Minister Rauff Hakeem, Non-Cabinet Minister of Science, Tec

Draft shipping policy creates storm

Views - 544 Monday, 14 January 2019 00:29

Barely a week after a sudden tariff revision, which was implemented without the knowledge of the private sector or the new Minister, a new so-called final shipping and logistics policy document has surfaced last week, making the UNF Government policy

MTI strategises Africa entry for Bangladesh’s top conglomerate

Views - 321 Monday, 14 January 2019 00:10

MTI Consulting facilitates Bangladesh’s leading business conglomerate, the Gemcon Group, to explore Ethiopia (with the rest of Africa to follow) for the mainstream infrastructure and engineering business – Gemcon Ltd., via MTI’s Associate in Et

AOD’s International Fashion Designer Amesh to showcase at Berlin Fashion Week

Views - 248 Monday, 14 January 2019 00:08

A powerful international collaboration between Sri Lanka and Germany was initiated by AOD in the recent past through creatively fuelled ventures backed by the German Embassy of Sri Lanka. As a part of this international relation and its potential to

First-ever Colombo International Logistics Conference on 1 and 2 Aug.

Views - 400 Monday, 14 January 2019 00:05

Sri Lanka is known as a mega transshipment location in South Asia. In fact, it’s the fastest growing one among major ports of the world, with the rank of 11th best connected port in the world of shipping. Situated in the middle of the Indian Ocean,

Sri Lanka Tourism makes inroads in India

Views - 163 Monday, 14 January 2019 00:03

Sri Lanka Tourism made its presence felt at the India International Travel & Tourism Exhibition held in Mumbai, India on 10 and 11 January. Minister of Tourism Development, Wildlife and Christian Religious Affairs John Amaratunga met heads of India

President meets newly appointed Governors

Views - 172 Saturday, 12 January 2019 00:20

President Maithripala Sirisena yesterday urged all new Governors to directly mediate in order to achieve the expected development goals by making public services systematic and efficient. The President made this statement at a meeting with Governors,

Constitutional Assembly sitting ruled as legitimate

Views - 262 Saturday, 12 January 2019 00:20

Deputy Speaker and the Chair of Committees J.M. Ananda Kumarasiri yesterday rejected the United People’s Freedom Alliance (UPFA) objections to allow the Constitutional Assembly sitting in the main chamber of Parliament, during which the Chairman of

Sri Lanka seeks to lower IMF fiscal targets after political crisis

Views - 245 Saturday, 12 January 2019 00:19

Reuters: Sri Lanka will ask the IMF to ease its 2019 budget deficit target of 3.9% under a $1.5 billion loan program, to give the economy more time to recover from a political crisis, a senior Finance Ministry official said on Thursday. Investor conf

Today's Columnists

Why Gota gave me a ‘Gotler’ feeling

Wednesday, 16 January 2019

Bourgeoisie venues It is no accident that presidential-candidate hopeful Gotabaya Rajapaksa holds his Viyathmaga meetings in bourgeoisie spots. Once, it had been Shangri-La. Last Saturday, 12 January, it had been Waters Edge. Gota’s speech offered

A lie is also a truth

Wednesday, 16 January 2019

Gotabaya Rajapaksa is a determined contender for the presidency. His trenchant lecture to activists of the Viyathmaga forum demonstrated the man’s spiritedness and impulse to act. He is a driven man. What drives him? Ancient Greeks developed the co

Morals and ethics take a nosedive in Sinhala-Buddhist Sri Lanka

Wednesday, 16 January 2019

As a Sri Lankan first, as a member of the predominant ethnic community, Sinhalese, as a follower of the Buddhist philosophy and as a grandmother, I have taken it upon myself to address the youth and young adults of Sri Lanka, amongst them – the fut

Politicians and cricketers: Expected role, selection and performance evaluation (Part 1)

Wednesday, 16 January 2019

I am an apolitical person. I am neither a political analyst nor a sports analyst. However, I closely observe both activities. I attentively observed recent political turmoil in Sri Lanka from a remote location via mass media. I watched the performan

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