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Litro Gas and Laugfs get lands in Hambantota Port

Views - 767 Saturday, 22 September 2018 01:07

A pair of key plots of land within the Hambantota Port premises has been assigned to two local-based Liquid Petroleum Gas providing companies, Minister of Ports and Shipping Mahinda Samarasinghe told Parliam

IGP investigation:3-member Ministerial Committee to ensure independent probe

Views - 126 Saturday, 22 September 2018 01:06

The Ministry of Public Administration, Law and Order will appoint a three-member committee from within the Ministry to investigate allegations of bribery and corruption levelled against Inspector Gene

No sale of land in Hambantota Port to Chinese company

Views - 287 Saturday, 22 September 2018 01:06

The Government yesterday reconfirmed in Parliament that it had not divested land in the Hambantota Port to a Chinese company but had incorporated two companies – Hambantota International Port Group Ltd. (HIPG) and Hambantota International Port Serv

Access gets prime real estate in Colombo 2

Views - 1230 Saturday, 22 September 2018 01:05

The Government this week decided to give prime land in the heart of Colombo on a 99-year lease for Rs. 1.1172 billion to Access Realties. The land, extendin

Delicious Sri Lanka: Australia’s new favourite destination

Views - 705 Saturday, 22 September 2018 01:05 It was the crab curry that got me. The rich, spicy sauce that ended up covering my hands and splattering my clothes. The sweet, salty crab meat that I had to work for, wrenching from the shell, twisting and snapping and slurping

Pakistan invites Saudi Arabia to join China’s Belt and Road corridor

Views - 144 Saturday, 22 September 2018 01:04

ISLAMABAD (Reuters): Islamabad has invited Saudi Arabia to become the third partner in the Beijing-funded Belt and Road corridor of major infrastructure projects inside Pakistan, Pakistan’s information minister said on Thursday. The announcement co

No FT on Monday

Views - 14 Saturday, 22 September 2018 01:04

Due to the Poya holiday, the Daily FT will not be published on Monday, 24 September.

CSE at over 30-month closing low

Views - 161 Saturday, 22 September 2018 00:10

Reuters: Shares dropped to their lowest close in more than 30 months on Friday as foreign investors sold banking stocks, while a weaker rupee dented investor sentiment as well. The Colombo stock index ended 0.29% weaker at 5,904.90, its lowest close

National cyber security policy in the offing: Defence Secretary

Views - 243 Friday, 21 September 2018 00:00

By Hiyal Biyagamage Defence Secretary Kapila Waidyaratne PC yesterday revealed that Sri Lanka is presently working on drafting a national policy on cybersecurity. “The country which is in the process of drafting a cybersecurity policy; Sri Lanka n

Lankan who solved maths problem for Jeff Bezos and gave world Amazon

Views - 3108 Friday, 21 September 2018 00:00

New Delhi: Yasantha Rajakarunanayake is surprised Amazon CEO Jeff Bezos, the world’s richest man, remembers him three decades after they lost touch. The Sri Lankan scientist, now based in the US, was Bezos’ classmate at Princeton University in th

Govt. cannot release foreign reserves to manage rupee depreciation: Harsha

Views - 841 Friday, 21 September 2018 00:00

By Chathuri Dissanayake As the rupee depreciates daily to new lows, National Policies and Economic Affairs State Minister Dr. Harsha Silva yesterday defended the Government’s stance to refrain from artificially managing the value of the currency, w

Mangala responds to concerns over state of Lankan economy

Views - 1356 Friday, 21 September 2018 00:00

By Ashwin Hemmathagama The Government said that it has thus far been successful in curbing excess import growth and controlling the depreciation of the Sri Lankan rupee, which had started to hit record lows during the last few days. According to Fin

Amendments to Finance bill 2018 approved by Cabinet

Views - 947 Thursday, 20 September 2018 02:27

The Cabinet has approved a host of Amendments, including abolition of Mansion Tax, to the Finance bill2018 approved by the Cabinetin July this year to incorporate tax proposals in the last three years. The Amendments will be incorporated to the bil

CB imposes 100% LC margins on vehicle imports

Views - 1342 Thursday, 20 September 2018 02:26

The Central Bank yesterday directed licenced commercial banks (LCBs) to impose a 100% margin deposit requirement against letters of credit(LCs) for the importation of motor vehicles with immediate effect. The decision to impose the margin deposit req

SriLankan Airlines makes changes to Winter 2018 schedule

Views - 1209 Thursday, 20 September 2018 02:25

In keeping with its strategy of optimising and rationalising market opportunities throughout its route network, SriLankan Airlines said yesterday it will be introducing a range of significant changes to the winter schedule. SriLankan... Accordingly,

Mangala says 40% Cess on sanitary napkins will be removed

Views - 875 Thursday, 20 September 2018 02:24

The 40% Cess imposed on sanitary napkins will be removed by the Government, Finance Minister Mangala Samaraweera said. Mangala... This decision was taken yesterday during a discussion with the officers, he added. The issue was brought to attention

Tax for gold imports slashed

Views - 1062 Thursday, 20 September 2018 02:24

By Nuwan Senarathna The Government yesterday announced tax cuts on gold imports, in a bid to curtail gold smuggling to Sri Lanka impacting the country’s gold reserves, Deputy Environment Minister Ajith Mannapperuma said. Tax... The decision to re

Sugar importers hike price, Finance Ministry insists no

Views - 233 Thursday, 20 September 2018 02:24

The back and forth between the Government and sugar importers continued yesterday as importers vowed to increase the wholesale and retail prices of sugar on the same day that the Finance Ministry warned of stern action against importers jacking up pr

PM opens Colombo City Centre Mall

Views - 3168 Thursday, 20 September 2018 02:24

Colombo City Centre Mall by Abans and NextStory Group was ceremoniously opened by Prime Minister Ranil Wickremesinghe yesterday at Colombo 2. Conveniently situated by the scenic Beira Lake at the heart of the city, this ultra-modern lifestyle destina

Good corporate citizens support University students’ participation at Cyber Security Summit today

Views - 17 Thursday, 20 September 2018 02:23

A host of institutions, in the spirit of good corporate citizenship, has come forward to sponsor the participation of several deserving University students at the Daily FT co-organised 6th Annual Cyber Security Summit today, from 9.00 a.m. to 5.00 p.

Civil society group says sanitary napkin tax bleeding women dry

Views - 631 Thursday, 20 September 2018 02:23

By Ruwandi Gamage In a bid to make sanitary napkins more affordable for low-income women, the Apè Sri Lanka National Movement Tuesday called on the Government to reduce the “unfair tax” on an essential item for women.   Ape Sri Lanka National

Dialog launches Sri Lanka’s first PCI-DSS certified payment app

Views - 29 Thursday, 20 September 2018 02:22

Dialog Axiata PLC, the premier digital services innovator, yesterday announced the launch of ‘Genie,’ Sri Lanka’s first ‘Payment Card Industry Data Security Standard’ (PCI-DSS) certified mobile payment app. ‘Genie’ transforms a convent

Budget 2019 to be presented on 5 Nov.

Views - 303 Wednesday, 19 September 2018 07:52

The Government is set to present the Budget for 2019 on 5 November. According to UNP sources, it was initially decided during the Government parliamentary group meeting at Temple Tees on Monday morning (17), chaired by Prime Minister Ranil Wickremesi

Declining rupee, rising oil prices reverberate through P’ment

Views - 1104 Wednesday, 19 September 2018 00:00

With the Sri Lankan rupee hitting a record low of Rs. 166.64 yesterday, Prime Minister Ranil Wickremesinghe told Parliament

Insights for boardrooms at Cyber Security Summit CEO Forum today

Views - 60 Wednesday, 19 September 2018 00:00

The sixth annual CEOs Forum on Cyber Security,themed ‘Towards a Secure Digital Future’ and organised by the Daily FT and CICRA Consultancies, will be held today at 6.30 p.m. onwards at the Cinnamon Grand. Over the past six years, the much sought

MAS recognised as Exporting Conglomerate of the Year at Presidential Export Awards 2018

Views - 676 Wednesday, 19 September 2018 00:00

MAS Holdings made history by being recognised as the Exporting Conglomerate of the Year, as the overall award was introduced for the first time to appreciate and celebrate export excellence by a Sri Lankan corporate at the Presidential Export Awards

High growth, future potential make SL ‘important strategic market’ for Jaguar Land Rover

Views - 404 Wednesday, 19 September 2018 00:00

High sales growth so far and future upside have made Sri Lanka an “important strategic market” for world-renowned automobile brands Jaguar Land Rover, its Asia Pacific chief told journalists in Colombo yesterday. The combined sales of the two mar

Colombo City Centre Mall by Abans and NextStory Group opens today

Views - 7135 Wednesday, 19 September 2018 00:00

The Mall at Colombo City Centre will open to the public at 4:30 p.m. today amidst an ambience of colourful celebrations. Conveniently situated by the scenic Beira Lake in the heart of the city, this ultra-modern lifestyle destination has been billed

$ 50 m ADB to support Enterprise Sri Lanka rooftop solar power project

Views - 481 Wednesday, 19 September 2018 00:00

The Enterprise Sri Lanka project which was launched by the Ministry of Finance and Mass Media to inspire, assist and create a minimum of 100,000 new entrepreneurs has received Rs. 8 billion ($ 50 million) from the Asian Development Bank for the rooft

China’s BRI massive economic opportunity for SL: PM

Views - 583 Tuesday, 18 September 2018 00:23

China’s Belt and Road Initiative (BRI) will be a massive economic opportunity for Sri Lanka, assured Prime Minister Ranil Wickremesinghe, while also allaying concerns surrounding the country’s sovereignty.

Today's Columnists

In the desert of Tamil films, actor Sivaji Ganesan was an oasis

Saturday, 22 September 2018

‘Indian Film,’ first published in 1963 and co-authored by former Columbia University Professor Erik Barnouw and his student Dr. Subrahmanyam Krishnaswamy, is considered a seminal study of the evolution and growth of Indian cinema. The book is cit

Imran may turn blind eye to blasphemy law and persecution of Ahmadiyyas

Saturday, 22 September 2018

There are clear signs that Pakistan’s freshly minted Prime Minister, Imran Khan, will make a sincere effort to reduce corruption and maladministration in the domestic sphere. In foreign affairs he is likely to make a brave attempt to mend fences wi

The rate of exchange, capital flight and the Central Bank

Friday, 21 September 2018

The Central Bank (CBSL) exists for the sole purpose of price stability. Its controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation

Red flag over the Sri Lankan Navy

Friday, 21 September 2018

Shocking story Rusiripala, a former banker in Sri Lanka, who has taken to writing in Daily FT, is perturbed by the red flag I have raised (Daily FT article 18 September) over the shocking charge that our Navy had operated a ransom gang that had abduc

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