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EIU continues to bet on SLPP victories in Presidential and General elections

Views - 1225 Monday, 21 January 2019 01:05

Indicating the collapse of the current Government later this year, the UK-based Economist Intelligence Unit (EIU) continues to predict victory by Sri Lanka Podujana Peramuna (SLPP) candidates at the next Presidential and General elections. This forec

oDoc wins Rs. 42 m grant from GSMA Ecosystem Accelerator Innovation Fund

Views - 520 Monday, 21 January 2019 01:03

Home-grown video medical consultation platformo Doc is gearing up for a rapid expansion in the scale of its domestic operations, having recently secured over Rs. 40 million in equity-free grant funding from the GSMA Ecosystem Accelerator Innovation F

Tourism achieves $ 4.4b revenue target for 2018

Views - 475 Monday, 21 January 2019 01:00

Sri Lanka has earned over $ 4 billion from tourism this year with a steadily increased revenue of 11.6% compared to 2017, according to the Sri Lanka Tourism Development Authority. The data suggests that an average duration of stay per person is 11 d

SLT appoints new CEO and COO

Views - 940 Monday, 21 January 2019 00:59

Sri Lanka Telecom (SLT) has announced the appointment of K.A. Kiththi Perera as the new Chief Executive Officer (CEO) and M.B.P. Fernandez as the Chief Operating Officer. The decision on these appointments was made by SLT Board at its meeting last we

Activists decry Sri Lankan president’s praise for Duterte’s drugs war

Views - 153 Monday, 21 January 2019 00:58

MANILA, REUTERS: Human rights groups expressed alarm at Sri Lanka’s leader on Friday for praising Philippine President Rodrigo Duterte and his bloody war on drugs as an “example to the whole world”. Despite international condemnation of a crack

CB Chief says SL has potential to grow over 5% 

Views - 316 Monday, 21 January 2019 00:56

The Central Bank Governor Dr. Indrajit Coomaraswamy on Friday expressed confidence that Sri Lankas true growth potential was 5.7% and the 3% achievement was below par.  “The Central Bank thinks the potential growth rate is about 5.75%. So, the cur

Huawei expects 2019 revenue to touch $125b

Views - 67 Monday, 21 January 2019 00:00

Huawei CEO and Founder Ren Zhengfei recently said that 2019 could be a difficult year for Huawei; however the company, is targeting $ 125 billion in revenue for the whole year. Huawei has not released its total revenue for 2018 yet, but Eric Xu, one

BoardPAC wins big with 6 Stevie accolades at 2018 International Business Awards

Views - 133 Monday, 21 January 2019 00:00

BoardPAC, globally recognised as a leading provider of revolutionary paperless board-meeting automation solutions captured a record six Stevie accolades at the 15th International Business Awards (IBA) 2018 held recently. Impressively, BoardPAC was th

UL struggles with unusable aircraft leased from Aercap

Views - 1212 Saturday, 19 January 2019 00:10

SriLankan Airlines yesterday said an Airbus A330-200 that was acquired in 2016 was grounded and its engine fixed to another aircraft after it was found that the aircraft did not fit the current business model of the National Carrier. The aircraft be

Fitch Affirms SriLankan Airlines’ Govt.guaranteed bonds at ‘B’

Views - 12 Saturday, 19 January 2019 00:00

Fitch Ratings has affirmed SriLankan Airlines Ltd.’s (SLA) $ 175 million, 5.3% Government guaranteed bonds due 2019. The airline’s bonds are rated at the same level as SLA’s parent, the Government of Sri Lanka (B/Stable) due to the uncondition

SL and IRRI sign framework to boost national rice sector

Views - 23 Saturday, 19 January 2019 00:00

The International Rice Research Institute (IRRI) and Government of Sri Lanka yesterday inked a comprehensive work plan to advance Sri Lanka’s rice self-sufficiency goals through joint research for development projects in the country in the next fiv

Activists decry President’s praise for Duterte’s drugs war

Views - 91 Saturday, 19 January 2019 00:00

Reuters: Human rights groups expressed alarm at Sri Lanka’s leader on Friday for praising Philippine President Rodrigo Duterte and his bloody war on drugs as an “example to the whole world.” Despite internatio

Luxury ambulances distributed to hospitals countrywide

Views - 374 Saturday, 19 January 2019 00:00

A total of 152 luxury ambulances worth Rs. 2,850 million were distributed to hospitals island-wide by Health, Nutrition and Indigenous Medicine Minister Dr. Rajitha Senaratne at the Colombo Municipal Council (CMC), yesterday. The ambulances were l

Rupee extends gains on dollar sales by banks; stocks steady

Views - 253 Saturday, 19 January 2019 00:00

Reuters: The rupee closed firmer for a second straight session on Friday, helped by dollar selling by banks and after the IMF said it would resume discussions with the island nation for further disbursal of part of a $ 1.5 billion loan and the Centra

Philippine P’ment to support SL

Views - 110 Saturday, 19 January 2019 00:00

The Speaker of the House of Representatives of the Philippines says that the Parliament of the Philippines will extend fullest support to implement the programs for development cooperation with Sri Lanka, proposed by the Philippines President. The

CB warns public of phishing attempt

Views - 383 Saturday, 19 January 2019 00:00

It has been reported to the Central Bank that a phishing attempt has been initiated, targeting mainly the financial institutions of Sri Lanka, it said in a statement. Issuing a public notic

Priority is tackling economic issues: Rajapaksa

Views - 149 Saturday, 19 January 2019 00:00

Officially taking up duties as Opposition Leader yesterday, Parliamentarian Mahinda Rajapaksa said he would drive the Government to prioritise the resolving of economic challenges, particularly problems fa

UK assures existing GSP+ tariffs will continue post-Brexit

Views - 383 Saturday, 19 January 2019 00:00

British High Commissioner to Sri Lanka James Dauris on Thursday assured local exporters the UK would extend the same preferential tariff rates to countries which were currently beneficiaries of the Generalised System of Preferences (GSP) of the Europ

Ministry of Crab opens in Manila, Philippines

Views - 1358 Friday, 18 January 2019 00:00

Following the opening of Ministry of Crab in Shanghai only a few months ago, co-owners, Kumar Sangakkara and Chef Dharshan Munidasa launched Ministry of Crab at Shangri-La at the Fort, Manila by hosting a media dinner followed by a grand opening even

Govt. in talks with IMF to shift fiscal targets

Views - 269 Friday, 18 January 2019 00:00

The Government is in talks with the International Monetary Fund (IMF) to shift fiscal targets, eyeing elections that would give it space to funnel funds to development programs such as “Gamperaliya”, and increase the number of Samurdhi recipients

New anti-corruption Commission likely to widen President-UNP rift

Views - 1023 Friday, 18 January 2019 00:00

President Maithripala Sirisena yesterday appointed a new anti-corruption Commission covering the period 15 January 2015 to 31 December 2018, a move that is likely to widen the existing rift between him and the UNP-led Government. The appointment of

Govt. signs ADB loans worth $ 455m

Views - 285 Friday, 18 January 2019 00:00

The Government and the Asian Development Bank (ADB) yesterday signed three loan agreements totaling $455 million for projects in higher education and transport as well as a technical assistance loan in the urban sector.

Kavan assumes duties as new SLPA Chairman

Views - 600 Friday, 18 January 2019 00:00

Kavan Ratnayaka has been appointed the new Chairman of Sri Lanka Ports Authority (SLPA). He assumed duties as the Chairman of Sri Lanka Ports Authority (SLPA) yesterday, with blessings of the

State vehicles not exempted from carbon tax

Views - 160 Friday, 18 January 2019 00:00

The carbon tax, which came into effect from January this year, is applicable to all vehicles including those in the public sector, and the registered owners of every motor vehicle specified in the Act will have to pay this levy, the Finance Ministry

Rupee, stocks rise after IMF statement

Views - 625 Friday, 18 January 2019 00:00

REUTERS: Sri Lanka’s rupee and shares closed firmer on Thursday, a day after the International Monetary Fund (IMF) said it would resume discussions with the island nation for further disbursal of part of a $1.5 billion loan. After a meeting with

Planters’ Association to go to Wages Board if talks fail to reach agreement

Views - 283 Friday, 18 January 2019 00:00

By Charumini de Silva The Regional Plantation Companies are gearing to approach the Wages Board if the deadlock in wage negotiation with trade unions continues, industry spokesman Roshan Rajadurai told the Daily FT.

IMF team to arrive in mid-Feb

Views - 339 Thursday, 17 January 2019 01:42

The International Monetary Fund (IMF) will send a team to Colombo in mid-February to resume discussions on the $ 1.5 billion Extended Fund Facility (EFF) program after it was derailed during the 52-day political turmoil last year. IMF Managing Dir

Writ of Quo Warranto against Mahinda: CA defers argument for 21 February

Views - 408 Thursday, 17 January 2019 01:41

The Court of Appeal yesterday deferred for 21 February the Writ of Quo Warranto Petition against Mahinda Rajapaksa and 48 others. The Bench comprised Justices Deepali Wijesundera (Acting President/CA) and Arjuna Obeysekera. The Court issued an Interi

Ailing rupee and price controls may lead to a shortage of milk powder

Views - 426 Thursday, 17 January 2019 01:38

A cup of tea is every Sri Lankan’s morning mantra. This might not be the case much longer as Sri Lanka may face a shortage of milk powder as several leading milk powder importers are reported to have taken a collective decision to suspend imports.

JKH’s Rs. 11 b share buyback offer ends

Views - 659 Thursday, 17 January 2019 01:36

The Rs. 11 billion worth share buyback offer of John Keells Holdings (JKH) had ended with the move triggering acceptance of only 46% of the offer. JKH said that its offer to repurchase 69.37 million shares or 5% of shares in issue received acceptance

Today's Columnists

All the presidents’ mien

Monday, 21 January 2019

I’m conflicted about the presidency we have. Do we need it like a fish needs a bicycle, or a baboon needs a parliament? Has the opportune time come for stakeholders as diverse as civil society led by a free media movement, conscientious objectors t

Banks should subsume technology before technology subsumes them

Monday, 21 January 2019

Returning to IBSL is like ‘coming home’ It is a privilege for me to return to the Institute of Bankers of Sri Lanka, popularly known as IBSL, after the lapse of some 10 years. I had a long association with IBSL from its very beginning – from ar

Ravi K’s discourse on W.A. Wijewardena’s involvement in Treasury bond issue

Monday, 21 January 2019

In his article published previously in the Daily FT, Ravi Karunanayake (the MOF during the period of the infamous CBSL bond scam) appears to have attemptedto pull wool over the eyes andto make a mountain out of a molehill. This exercise gives an impr

Making democracy a national heritage

Monday, 21 January 2019

We are in the year of elections. It is the season of political name calling. Everybody is busy conferring some name on some body. Neo liberal, liberal, dictator, fascist, neo fascist, NGO agent, imperialist lackey are some of these devices that come

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