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Mangala calls on UN Secretary-General Guterres

Views - 96 Friday, 19 April 2019 00:30

Finance Minister Mangala Samaraweera, who is in New York to represent Sri Lanka at the Financing for Development Forum of the UN Economic and Social Council, called on the Secretary-General of the United Nations António Guterres on 16 April. At the

Sri Lanka’s first satellite ‘Raavana-1’ takes off

Views - 446 Friday, 19 April 2019 00:25

Sri Lanka’s first satellite ‘Raavana-1’ was launched into space Thursday, marking Sri Lanka’s entry into the global space age. The BIRDS-3 satellites from Japan, Nepal, and Sri Lanka were taken to the International Space Station (ISS) as carg

Rupee rises; stocks edge higher ahead of long weekend

Views - 346 Friday, 19 April 2019 00:20

Reuters: The Sri Lankan rupee closed 0.34% firmer on Thursday, helped by banks’ dollar sales, while stocks ended marginally higher for the fourth straight session in thin trade ahead of a long weekend. Many investors were on a holiday during the t

Loan inflows to Govt. on the rise after end of constitutional crisis

Views - 513 Friday, 19 April 2019 00:19

The Central Bank of Sri Lanka on Wednesday said loan inflows to the Government have increased significantly, following the end of political uncertainty. “Loan inflows to the Government increased significantly in January 2019, with loan inflows to m

Facebook says it uploaded email contacts of up to 1.5 million users

Views - 175 Friday, 19 April 2019 00:17

Reuters: Facebook Inc said on Wednesday it may have “unintentionally uploaded” email contacts of 1.5 million new users since May 2016, in what seems to be the latest privacy-related issue faced by the social media company. In March, Facebook had

Abans launches world’s No. 1 gaming laptop at Colombo City Centre

Views - 220 Friday, 19 April 2019 00:00

Abans PLC, the nation’s No. 1 laptop provider, recently joined hands with MSI, a leading gaming laptop brand, to release the MSI model GL63 with RTX 2060 Graphic Card for the first time ever in Sri Lanka. The event took place in March at the Abans

Selectors shake up squad for World Cup

Views - 255 Friday, 19 April 2019 00:00

Sri Lanka’s selectors have axed roughly half the team that ended the limited overs series in South Africa, and in the process made several left-field picks for their preliminary 15-man World Cup squad. The squad must be finalised by 23 April. Akil

ADB plans to commit $800 m annually in loans to SL to boost economic growth

Views - 405 Thursday, 18 April 2019 00:04

The Asian Development Bank (ADB) as a leading multilateral development partner of Sri Lanka, plans to commit an average of $800 million annually in sovereign loans to the island nation during 2018-2022 to boost economic growth. ADB’s Country Partne

India’s Jet Airways suspends all operations

Views - 388 Thursday, 18 April 2019 00:03

Mumbai, AFP: India’s debt-stricken Jet Airways grounded all of its operations Wednesday after failing to secure emergency funding from lenders, the carrier said in a statement. “Jet Airways is compelled to cancel all its international and domest

Rupee edges higher; stocks rise for third session

Views - 320 Thursday, 18 April 2019 00:03

Reuters: The Sri Lankan rupee closed a tad firmer on Wednesday helped by banks’ dollar sales, while stocks ended marginally higher for the third straight day in thin trade. Many investors were on holiday in a three-day week due to two long weekend

Detrimental effects of SLPA tariff upward revision: export targets could be badly hit

Views - 297 Thursday, 18 April 2019 00:03

The initiative of upward tariff revision by the SLPA has become a controversial matter raising many concerns of exporters/importers during tough times where Sri Lanka is trying to find its position back in the world map as a competitive exporter. How

Dubai’s Nimai Capital, Kenya’s Victoria ComBank to launch $ 150 m Emerging Financial Services Fund

Views - 684 Thursday, 18 April 2019 00:03

Nimai Capital has entered into a strategic alliance with Financial Institution Victoria Commercial Bank, Kenya, to manage a unique Private Equity Fund focused on investing into financial services opportunities in Africa and South Asia. The Nimai Emer

SEC to conduct ‘Dialogue with Public Listed Companies’

Views - 156 Thursday, 18 April 2019 00:00

The Securities and Exchange Commission of Sri Lanka (SEC) will launch the first in a ‘Chairman’s Forum’ series, on 25 April. The Colombo Stock Exchange (CSE) has been invited to be present. “In order to provide each stakeholder group with ad

Insights into the workings of Rotary

Views - 76 Thursday, 18 April 2019 00:00

Rotary Foundation Trustee Brenda Cressey, an icon in the fundraising arena, recently visited Sri Lanka in order to participate as the Chief Guest of the 28th Rotary Conference which is to be held today at the Presidential Suit at the Galadari Hotel.

Karunaratne to lead SL in World Cup

Views - 114 Thursday, 18 April 2019 00:00

Dimuth Karunaratne will lead Sri Lanka in this year’s ICC Cricket World Cup, Sri Lanka Cricket has confirmed, after the board’s first choice Angelo Mathews declined the role. Both players had been identified as being capable of unifying a disjoin

$ 125 m World Bank support for climate resilient agriculture, infrastructure services

Views - 344 Wednesday, 17 April 2019 00:20

Sri Lanka and the World Bank last week signed two new agreements worth $150 million to improve climate resilience and agriculture productivity for small farmers and support priority infrastructure through public-private partnerships. World Bank Vice

Germany indicts suspected rebel over Sri Lanka war crimes

Views - 376 Wednesday, 17 April 2019 00:15

AP: German authorities have indicted a Sri Lankan man suspected of involvement in killing 15 captured government soldiers while fighting for the Tamil Tigers rebel group. Federal prosecutors said Friday that 37-year-old Sivatheeban B. is accused of m

Manufacturing, services sectors expand in March

Views - 303 Wednesday, 17 April 2019 00:13

The country’s manufacturing and services sectors have expanded considerably in March in comparison to the previous month, as per the Purchasing Managers Index (PMI). The Central Bank said yesterday that the manufacturing activities accelerated in M

IFC report estimates investor appetite for impact investing could be as high as $ 26 t

Views - 235 Wednesday, 17 April 2019 00:11

Investors’ appetite for impact investing—in which they seek to generate positive impact for society alongside strong financial returns—could be as much as $ 26 trillion, according to a new report issued by IFC, a member of the World Bank Group.

Rupee edges down; stocks end tad firmer

Views - 235 Wednesday, 17 April 2019 00:09

Reuters: The Sri Lankan rupee closed a tad weaker on Tuesday, while stocks ended a tad firmer in thin trade after a long weekend. The currency ended at 174.60/75 to the dollar, lower than Friday’s close of 174.45/55. The markets were closed on Mon

China says first-quarter profits at centrally-owned firms up 13.1%

Views - 118 Wednesday, 17 April 2019 00:06

BEIJING (Reuters): Profits at China’s centrally-held State firms rose 13.1% in the first quarter this year to 426.5 billion yuan ($63.57 billion) from a year ago, the country’s State assets regulator said on Tuesday. That was slower than the 20.9

‘Matilda’ magic to come alive in Colombo with Cinnamon Life

Views - 263 Wednesday, 17 April 2019 00:00

‘Magic’ is a word that echoes in every conversation about ‘Matilda the Musical’ and that’s the magic Cinnamon Life is bringing to Sri Lanka in June. One of the West End’s best-selling productions, ‘Matilda’ is being presented in Colom

Rasitha Gunawardana assumes duties as new CEO/GM of People’s Bank

Views - 475 Wednesday, 17 April 2019 00:00

Rasitha Gunawardana assumed duties as the 16th Chief Executive Officer/General Manager of People’s Bank yesterday at the Head Office of People’s Bank. Gunawardana was appointed as the CEO/GM-Designate of People’s Bank in September 2018 and ass

Gota returns today

Views - 2008 Friday, 12 April 2019 00:05

Former Defence Secretary Gotabaya Rajapaksa will return to Sri Lanka today to a rousing welcome by his supporters. Rajapaksa’s spokesman Milinda Rajapaksha told Daily FT that special arrangements had been made to receive the former Defence Secreta

S’pore giant buys Nahil’s Marriott Weligama Bay Resort & Spa for Rs. 10 b

Views - 5706 Friday, 12 April 2019 00:02

Singapore-based specialist Hotel Properties Ltd. Group has announced the purchase of Lankan business tycoon Nahil Wijesuriya-owned Marriott Weligama Bay Resort & Spa for nearly Rs. 10 billion. HPL Group subsidiary HPL Properties (West Asia) Pte Ltd.,

Mangala Yapa appointed new BOI Chairman

Views - 745 Friday, 12 April 2019 00:00

Mangala Yapa, a respected professional with extensive private sector and public sector experience, has been appointed as the new Chairman of the Board of Investment by President Maithripala Sirisena. Yapa assumed duties as the 22nd Chairman of the c

Central Bank launches Roadmap for Sustainable Finance in Sri Lanka

Views - 482 Friday, 12 April 2019 00:00

The Central Bank launched a Roadmap for Sustainable Finance in Sri Lanka on 10 April at the Sustainable Banking Network Global Meeting of the International Finance Corporation (IFC) in Washington, D.C, USA.

Colombo Port launches accelerated expansion

Views - 765 Friday, 12 April 2019 00:00

Ports, Shipping and Southern Development Minister Sagala Ratnayaka announced that the Sri Lanka Ports Authority (SLPA) was in the process of purchasing three Ship to Shore (STS) cranes in view of the Jaya Container Terminal (JCT) 5 expansion. “I a

Julian Assange arrested by British police at Ecuadorean embassy

Views - 341 Friday, 12 April 2019 00:00

London (Reuters): WikiLeaks founder Julian Assange was arrested by British police on Thursday after they were invited into the Ecuadorean embassy where he has been holed up since 2012. “Julian Assange, 47, has today, Thursday 11 April, been arreste

Assange to fight US extradition request: lawyer

Views - 107 Friday, 12 April 2019 00:00

LONDON, AFP: WikiLeaks founder Julian Assange will be “contesting and fighting” a US request for his extradition, his lawyer Jennifer Robinson said on Thursday following his arrest by British police.

Today's Columnists

No more stones to break Sri Lankan bones

Friday, 19 April 2019

Trial by fire is not a new ordeal to Christian community. It predates Notre Dame and Nazism by millennia. In fact, a decade or so before Nero torched believers to light Roman avenues, Jewish religious leaders put Jesus-followers to the test as the Ch

Wounding the social psyche

Friday, 19 April 2019

In this article, I intend to discuss the serious wounds inflicted on the psyche of Sri Lankan society, which have not received adequate attention, but need immediate cure, for they might develop into a dangerous cancer if not treated without further

What 5G could be to Game of Thrones (and vice versa)

Friday, 19 April 2019

We will be hearing a lot about these two seemingly unrelated topics this month. In a hurriedly but meticulously organised event, Dialog Axiata recently demonstrated 5G applications for the first time in South Asia. 5G will be commercially available

On time – Only for a week! A must-change!

Thursday, 18 April 2019

We are in April and the month where we witness the declaration of a new year as per our traditional practice. It is that period of time when a huge majority of our population, which certainly can be counted in millions, intends to act in unison and q

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