Front Page,Travel / Tourism

Legendary Chandra receives well-deserved title

Views - 250 Wednesday, 9 January 2019 00:00

A long-standing leader in the hospitality industry, Chandra Wickramasinghe, was awarded the prestigious title ‘Tourism Legend’ at the sixth Sri Lanka Tourism awards hosted by the Sri Lanka Tourism Development Authority on 6 December 2018. His ke

Rupee ends firmer on mild dollar inflows; stocks down

Views - 481 Tuesday, 8 January 2019 00:17

Reuters: The rupee recovered further on Monday, after hitting a record low in the previous week, helped by mild dollar inflows. The Colombo Stock Index fell 0.74% to settle at 6,022.99. The Bourse had lost 5% in 2018. The turnover was Rs. 405.1 mil

Consortium to invest Rs. 700 m in MBSL Insurance

Views - 897 Tuesday, 8 January 2019 00:16

A consortium of investors is to infuse Rs. 700 million in to MBSL Insurance Ltd., as part of an overall initiative to recommence the business. The Merchant Bank of Sri Lanka and Finance Plc (MBSL) insurance subsidiary is currently suspended due to f

Hunas Falls share price gains further

Views - 331 Tuesday, 8 January 2019 00:16

Share price of Hunas Falls Hotels Plc continued its upward trajectory, touching an intra-day high of Rs. 160 before closing at Rs. 155.40, up by 18% as investors took speculative positions on possible sale of controlling stake by Hayleys Group. The R

Govt. loses Rs. 18 b tax revenue due to illicit cigs: Research

Views - 437 Tuesday, 8 January 2019 00:16

The Government incurs an estimated loss of Rs. 18 billion tax revenue due to thriving illicit cigarettes, which are smuggling into the country through container shipments and individuals in their luggage, as per the first ever baseline research on th

Eran to head SriLankan Airlines restructuring committee

Views - 802 Tuesday, 8 January 2019 00:15

President Maithripala Sirisena yesterday appointed a ten-member committee headed by State Minister Eran Wickramaratne to make recommendations for a restructuring strategy for loss making SriLankan Airlines. The committee of experts comprises Centra

CSE amends listing rules to make Multi Currency Board a reality

Views - 421 Tuesday, 8 January 2019 00:15

The Colombo Stock Exchange (CSE) has amended the Listing Rules to facilitate the listing of the shares by foreign companies on the Multi Currency Board (MCB) of the CSE, under the Alternate Market Segment. In this regard, the CSE has also amended th

Sri Lanka Economic Association to hold 33rd Anniversary Annual Sessions on 18-19 January

Views - 186 Tuesday, 8 January 2019 00:11

The Sri Lanka Economic Association (SLEA), the premier Association of economists in the country, incorporated by an Act of Parliament and a member of the International Economic Association is holding its Annual Sessions on 18-19 January at the Centre

Oracle on course to be #1 in Apps

Views - 8059 Tuesday, 8 January 2019 00:00

Oracle, the global leader in business software, is forging ahead with innovative and industry leading solutions on its path to be world’s undisputed number one in applications. To its credit, Oracle commands industry leadership in banking, communi

Exporters hail Govt.’s commitment to bolster trade

Views - 528 Monday, 7 January 2019 03:06

Exporters last week hailed the Government’s commitment towards encouraging new champions to international trade and facilitation to ensure Sri Lanka reaches its targets by end of this year whilst urging immediate action over some of the concerns.

Govt. steams ahead to boost exports, FDIs

Views - 541 Monday, 7 January 2019 03:03

The Government is steaming ahead in developing three new export processing zones (EPZ), while introducing investor-friendly policies to bolster trade and attract fresh foreign direct investments.

Standard Chartered Sri Lanka appoints first local CEO

Views - 11969 Monday, 7 January 2019 03:02

Standard Chartered has appointed its first Sri Lankan Chief Executive Officer (CEO), Bingumal Thewarathanthri. This appointment came into effect from 1 January 2019. He took over from Jim McCabe, who has retired at the end of 2018 following a four-y

Hunas Falls share price soars with talks of controlling stake sale

Views - 646 Monday, 7 January 2019 03:01

The share price of Hunas Falls Hotels PLC rose sharply last week with talks of the controlling stake held by Hayleys Group being up for sale. Chairman of both entities, Mohan Pandithage said two major shareholders – Carbotels Ltd. and Amaya Leisure

Budget 2019 targets 3.5% deficit

Views - 380 Monday, 7 January 2019 03:01

The Finance Ministry has outlined ambitious targets for the delayed Budget 2019 with plans to increase public revenue to 17% of Gross Domestic Product (GDP) and shrink the Budget deficit to 3.5% of GDP, with the Appropriation Bill expected to be pres

Sirisena marks fifth year of ‘Maithri Governance’ tomorrow

Views - 178 Monday, 7 January 2019 03:00

President Maithripala Sirisena will celebrate fifth year of establishment of ‘Maithri Governance’ tomorrow with a series of events. He will officiate at the vesting ceremony of the new Laggala Green Town with the people of Dumbara Valley who sac

Hayleys Advantis signs deal with Group to manage Abu Dhabi container facility

Views - 339 Monday, 7 January 2019 01:51

Hayleys Advantis Ltd. (Advantis), the transportation and logistics arm of Hayleys PLC, announced that it has entered into a landmark deal with Dubai-based Group. Advantis is to operate and manage a state of the art Inland Container Dep

Foreigners pull most cash from Asian equities in at least seven years in 2018

Views - 156 Monday, 7 January 2019 00:00

Reuters: Foreign outflows from Asian equities were the biggest in at least seven years in 2018 as the Sino-US trade war and slowing profits battered regional stocks last year. Data from South Korea, Taiwan, India, Thailand, Philippines, Indonesia and

President Xi Jinping extends New Year wishes to Sri Lankan political leaders

Views - 181 Saturday, 5 January 2019 00:02

Chinese Ambassador Cheng Xueyuan on Thursday called on President Maithripala Sirisena and handed over a New Year greetings card from President Xi Jinping. Ambassador Cheng reaffirmed that China attaches great importance to the traditional friendly re

President to appoint new committee for SriLankan Airlines restructuring

Views - 63 Saturday, 5 January 2019 00:00

President Maithripala Sirisena is set to appoint a new committee to give recommendations to restructure SriLankan Airlines on Monday, the President’s Office announced yesterday. The committee, comprising of five members, will be required to presen

German politicians’ data hacked, govt. cyber team in crisis meeting

Views - 15 Saturday, 5 January 2019 00:00

BERLIN (Reuters): Hackers have posted personal data from hundreds of German politicians from major parties including credit card details and mobile phone numbers, with Chancellor Angela Merkel among those affected, local media reported on Friday.

Perpetual Treasuries suspension extended

Views - 66 Saturday, 5 January 2019 00:00

The Central Bank yesterday said the suspension of business of Perpetual Treasuries Ltd. had been extended for six months to facilitate ongoing investigations. The Monetary Board of the Central Bank, acting in terms of the regulations made under the

Secys must stick to circulars when making appointments

Views - 111 Saturday, 5 January 2019 00:00

President Maithripala Sirisena has informed Ministry Secretaries they must act according to the circulars issued by the Secretary to the President when appointing Chairpersons and members to Boards of Directors of State enterprises, including statuto

Financial sector regulators sign MoU for consolidated risk-based supervision

Views - 198 Saturday, 5 January 2019 00:00

The Central Bank has entered into a memorandum of understanding (MoU) with the Securities and Exchange Commission of Sri Lanka (SEC) and the Insurance Regulatory Commission of Sri Lanka (IRCSL) to conduct effective consolidated risk-based supervision

Oil rises above $ 57 on China-US trade talks, OPEC cuts

Views - 199 Saturday, 5 January 2019 00:00

LONDON (Reuters): Oil rose to above $ 57 a barrel on Friday after China said it would hold trade talks with the United States, and a survey showed China’s services sector expanded in December, while signs of lower crude supply also lent support.

Malik says politics and economics different

Views - 238 Saturday, 5 January 2019 00:00

Development Strategies and International Trade Minister Malik Samarawickrama said it was difficult to get politicians to understand economic imperatives and therefore, it was essential for the Government to set policy, and the onus was on the voters

MR to assume duties as Opposition Leader at SLPP HQ

Views - 984 Saturday, 5 January 2019 00:00

Opposition Leader Mahinda Rajapaksa yesterday said he would commence his duties as at the Sri Lanka Podujana Peramuna (SLPP) headquarters at Battaramulla, Nelum Mawatha, despite controve

CSE turnover plunges to 10-year low; rupee recovers

Views - 446 Saturday, 5 January 2019 00:00

REUTERS: The rupee recovered from a near record low hit in the previous session to end higher on Friday, boosted by mild dollar inflows aided by some inward remittances. The Colombo Stock Index ended 0.15% firmer at 6,067.66 on Friday, clocking its

Biz confidence takes a tumble in December

Views - 348 Friday, 4 January 2019 00:10

The latest edition of LMD notes that the LMD-Nielsen Business Confidence Index (BCI) declined to 90 in December, following a jump of 25 basis points from 85 to 110 in the previous month. According to the leading business magazine, the results of the

Dayasiri new General Secretary of SLFP

Views - 372 Friday, 4 January 2019 00:08

Dayasiri Jayasekara was appointed as the new General Secretary of the SLFP at the Party’s Central Committee meeting, held last night. He succeeds Prof. Rohana Lakshman Piyadasa.

Nestle welcomes India’s Supreme Court ruling in Maggi case

Views - 933 Friday, 4 January 2019 00:06

ZURICH (Reuters): Food group Nestle said yesterday a ruling by India’s Supreme Court marked a partial victory in its row with the Government over Maggi noodles. Maggi, Nestle India’s single-largest revenue earner, was banned in June 2015 for six

Today's Columnists

New Year resolution: Attaining financial freedom in 2019!

Thursday, 24 January 2019

It is that time of the year when everyone, young and old is journaling their new-year resolutions, and reflecting on the past year. You might be disappointed if you are carrying forward a few resolutions from the past years. You could be thinking, wh

10-year challenge: Has Sri Lanka made progress in last decade to become financially-literate?

Thursday, 24 January 2019

The ’10-Year Challenge,’ Facebook’s latest social media phenomenon has taken the internet by a storm. People are posting a picture from 10 years ago alongside their current profile picture or some other photograph and the transformation through

Catwalk beyond 400 PPM – Consuming towards disaster!

Thursday, 24 January 2019

Catwalks sizzle! What’s on the catwalk – the skin, the silk, lycra parading endlessly broadcast to the world whatever new and popular in clothing and accessories and it also communicates desirable dimensions too in a not-too-subtle manner. Knowi

Rolling back big government – The next big challenge

Thursday, 24 January 2019

Preliminary estimates in the 2019 Budget to be presented on 5 March this year include an income of 2.5 trillion and a debt service requirements of a whopping 2.2 trillion, leaving only a net income of 0.3 trillion. As for expenditure, the Government

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