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President to address UNGA for 4th consecutive time today

Views - 23 Tuesday, 25 September 2018 00:02

President Maithripala Sirisena will address the 73rd session of the United Nations General Assembly (UNGA) today. This will be his fourth consecutive annual address to the world body. This year’s theme of the UNGA session is ‘Making the United Na

Govt. fully supportive of digitalisation to drive financial inclusivity in SL: Eran

Views - 29 Tuesday, 25 September 2018 00:01

By Charumini de Silva State Finance Minister Eran Wickramaratne said he is fully supportive of the digitalisation and the use of new technologies which promote and enhance the efficiency of the common payment infrastructure to drive financial inclusi

Headline inflation down 2.5% in August; core inflation up 2.7%

Views - 12 Tuesday, 25 September 2018 00:00

The Central Bank said headline inflation, as measured by the change in the National Consumer Price Index (NCPI) compiled by the Department of Census and Statistics (DCS), decreased to 2.5% in August from 3.4% in July on year-on-year basis, mainly dri

Brent oil jumps to 4-year high near $81

Views - 22 Tuesday, 25 September 2018 00:00

LONDON, AFP: Brent oil soared Monday close to $ 81, reaching the highest level since November 2014 after OPEC and other global producers snubbed pressure from US President Donald Trump to dampen prices. At 0840 GMT, Brent North Sea crude for deliver

Govt. welcomes Maldives outcome, looks forward to enhance relations

Views - 13 Tuesday, 25 September 2018 00:00

The Government yesterday welcomed the victory of Opposition candidate Ibrahim Mohamed Solih, who defeated President Abdulla Yameen at the Maldives’ Presidential election. “Sri Lanka welcomes the Joint Opposition candidate Ibrahim Mohamed Solih se

Relief as Maldives strongman Yameen concedes defeat to Solih

Views - 41 Tuesday, 25 September 2018 00:00

AFP: The strongman leader of the Maldives on Monday conceded defeat in the Presidential election, easing fears of a fresh political crisis in the archipelago at the centre of a battle for influence between India and China. “The Maldivian people ha

Litro Gas and Laugfs get lands in Hambantota Port

Views - 829 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 - 139 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 - 324 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 - 1321 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 - 833 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 - 157 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 - 16 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 - 184 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 - 245 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 - 3255 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 - 845 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 - 1365 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 - 948 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 - 1344 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 - 1214 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 - 882 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 - 1063 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 - 235 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 - 3236 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 - 636 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 - 1107 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

Today's Columnists

Laurels of ‘Living Together’: Refreshing reflections

Tuesday, 25 September 2018

It was a memorable evening with a mega gathering for a meaningfully different reason. It was not just another book launch with ego-boosting speeches about the author. It was also not an event where a popular politician coming late and preaching about

The fate of the rupee: Central Bank is caught with ‘Devil’s Alternative’

Tuesday, 25 September 2018

Not all are losing when the rupee depreciates The recent depreciation of the rupee against the US dollar in the market has apparently driven the entire nation to a panic mode. While it had been a field day for the media and opposition law makers, the

Southbound rupee and northbound CoL

Tuesday, 25 September 2018

The Sri Lankan Rupee hit a record low of 170 per $ last week, and the Minister of Finance warns of further depreciation. This is inevitable given the chaotic state of the nation’s economy. While the rupee turns south, CoL (cost of living) has no o

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

Columnists More