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Special High Court summons Gota on 10 Sept.

Views - 273 Tuesday, 28 August 2018 00:17

By Manopriya Gunasekara The Special High Court yesterday issued summons to Former Defence Secretary GotabhayaRajapaksa and five others to appear before the Court on 10 September over misappropriation of fundsto erect the D. A. Rajapaksa statue in We

Rupee hits record low on importer dollar demand

Views - 365 Tuesday, 28 August 2018 00:16

Reuters: The rupee hit an all-time low of 161.10 per dollar on Monday, dragged down by importer dollar demand and less inflows of the greenback, dealers said. The rupee closed at 161.05/20 per dollar, compared with Friday’s close of 160.85/161.00.

Financial Intelligence Unit signs MoU with insurance regulator

Views - 452 Tuesday, 28 August 2018 00:16

In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Insurance Regulatory Commission of Sri Lanka (I

CSE ends lower as tax proposals hit sentiment

Views - 349 Tuesday, 28 August 2018 00:15

Reuters: Shares ended weaker on Monday to post their tenth session of declines in 11, as worries over new tax proposals weighed on investor sentiment. However, foreign investors bought beaten-down stocks, limiting the downside. Foreign buying account

Eastern Merchants PLC buys rubber products giant Microcells for Rs. 575 m

Views - 622 Tuesday, 28 August 2018 00:15

Eastern Merchants PLC has acquired a 100% shareholding of Microcells Ltd., one of the premier rubber products manufacturers in Sri Lanka for Rs. 575 million. The acquisition the biggest by Eastern Merchants PLC and was funded by a mix of equity and s

Fin. Min. to update Procurement guidelines this week

Views - 442 Monday, 27 August 2018 01:15

The long awaited National Procurement Guidelines are expected to be presented to Cabinet after being updated by the Finance Ministry, possibly by this week, a top official said.

Union Assurance only Lankan firm to make it to Forbes ‘Best Under Billion’ List in 2018

Views - 622 Monday, 27 August 2018 01:14

A company with over 30 years of providing trusted insurance solutions;Union Assurance PLC (UA) has now been listed in the Forbes Asia ‘Best Under A Billion’ list.

11% decrease in alcohol sales due to recent Excise Duty

Views - 652 Monday, 27 August 2018 01:12

The recent Excise Duty on liquor bases on alcohol volume had resulted in 11% decreased sales of alcohol during the last six months, Minister of Finance Mangala Samaraweera told Parliament last week.

Govt. failure to revise distributor margins may result in LP gas shortage

Views - 312 Monday, 27 August 2018 01:09

With the Government continuing to overlook the need to revise prices for transport and other overheads involved in distribution of liquid petroleum (LP) gas, the distributors insisted that they are reluctantly compelled to downsize the deliveries if

Western Province leads ‘Enterprise Sri Lanka, Thurunu Diriya’ loans disbursement

Views - 184 Monday, 27 August 2018 01:07

The Western Province is leading the ‘Thurunu Diriya’ loans disbursement by disbursing 22 loans while a total of 87 ‘Thurunu Diriya’ loans have been disbursed island-wide as at 22 August.

India, China agree to expand military ties after defence talks

Views - 19 Saturday, 25 August 2018 00:10

NEW DELHI (Reuters): India and China have agreed to expand their military ties and enhance interaction to ensure peace on their common border, India said after a meeting between the old rivals’ Defence Ministers.

Australian Treasurer Scott Morrison to become new PM

Views - 57 Saturday, 25 August 2018 00:10

CANBERRA (Reuters): Australian Treasurer Scott Morrison will become Australia’s new prime minister after winning a Liberal party leadership vote on Friday, ending an internecine battle that has scarred the conservative government ahead of an electi

Special High Court grants bail to former top officials in its first case

Views - 175 Saturday, 25 August 2018 00:10

The Special High Court in the first case it tried yesterday granted bail to the suspects who include former President’s Chief of Staff Gamini Senarath and three other top officials. The case was taken up before the three-member bench of High Court

Sri Lanka not ‘forced’ to accept Chinese loans, wants more cooperation: Envoy

Views - 151 Saturday, 25 August 2018 00:10

Sri Lankan Ambassador to China Karunasena Kodituwakku on Wednesday strongly pushed back recent media reports criticising Chinese investments in his country, saying that Sri Lanka was not forced to accept i

Rupee at record low on importer dollar demand

Views - 111 Saturday, 25 August 2018 00:10

Reuters: The rupee hit an all-time low of 160.96 per dollar on Friday, dragged down by importer dollar demand and less dollar inflows, dealers said. The rupee closed at 160.85/161.00 per dollar, compared with Thursday’s close of 160.73/83. The lo

Shares fall on worries over tax proposals

Views - 338 Saturday, 25 August 2018 00:10

REUTERS: Shares ended slightly weaker on Friday in light trade and posted their ninth session of decline in 10 as worries over new tax proposals weighed on sentiment. However, foreign investors bought beaten-down stocks, limiting the downside. Forei

PM off to Vietnam

Views - 260 Saturday, 25 August 2018 00:10

Prime Minister Ranil Wickremesinghe will leave the country for Vietnam today to attend the third Indian Ocean Conference which is scheduled to be held from 27-28 August in Hanoi. The Conference, themed ‘Building Regional Architectures’, is expect

Delimitation Report rejected by Parliament, PC polls according to old system

Views - 186 Saturday, 25 August 2018 00:10

The vote on the Report of the Delimitation Committee for the delimitation of provincial council electorates was defeated in Parliament yesterday by 139 votes. There were no votes in f

Cabinet nod to plantation support

Views - 353 Saturday, 25 August 2018 00:10

Considering the high cost of rubber re-planting, the Cabinet approved the proposal presented by Plantation Industries Minister Naveen Dissanayake to increase the subsidy for the new rubber plantations from Rs. 150

Vote on Provincial Delimitation Report to be defeated in Parliament

Views - 289 Friday, 24 August 2018 00:00

The report of the Provincial Delimitation Commission is set to be rejected by Parliament today with the UNP and Joint Opposition to vote against it, sources said.

CPC awaits clearance from Registrar of Pesticides to import glyphosate

Views - 269 Friday, 24 August 2018 00:00

Ceylon Petroleum Corporation (CPC) is waiting on clearance from Registrar of Pesticides to commission the first consignment

Govt. to amend legislation on finance and microfinance companies

Views - 525 Friday, 24 August 2018 00:00

The Government will bring in amendments to legislation pertaining to finance and microfinance companies before the presentation

Ex-Chairman and CEO of UL give statements before PCoI

Views - 525 Friday, 24 August 2018 00:00

Former SriLankan Airlines Chairman Nishantha Wickremasinghe and former CEO Kapila Chandrasena gave statements yesterday

Global payment network Visa partners with Cyber Security Summit

Views - 358 Friday, 24 August 2018 00:00

Visa – one of the most advanced payment processing networks in the world – has signed in as a Strategic Partner for Sri Lanka’s

FTAs are here to stay: Harsha

Views - 638 Thursday, 23 August 2018 00:02

By Chathuri Dissanayake The Sri Lanka – Singapore Free Trade Agreement is now in force despite a committee appointed by President Maithripala Sirisena to analyse the deal, State Minister of National Policies and Economic Affairs Dr. Harsha de Silva

CB hopeful SL will be out of FATF grey list by February 2019

Views - 1145 Thursday, 23 August 2018 00:02

By Charumini de Silva Central Bank Governor Dr.Indrajit Coomaraswamy this week expressed confidence that by early next year Sri Lanka will be able to move away from the Financial Action Task Force (FATF) grey list. “A great deal of work has been d

Lanka Milk Foods to invest Rs. 2 b more to boost dairy biz

Views - 358 Thursday, 23 August 2018 00:01

Lanka Milk Foods (CWE) PLC is to invest Rs. 2 billion to boost the Group’s dairy business further. The company has floated a new subsidiary, United Dairies Lanka Ltd., at Ambewela in the Nuwara Eliya District. The venture plans to rear 2,000 cows

PM seeks Japanese assistance to develop Trincomalee Port

Views - 849 Thursday, 23 August 2018 00:01

Prime Minist-er Ranil Wickre-mesinghe on Tuesday emphasised the significance of a Memorandum of Understanding (MOU) on strengthening defence cooperation between Sri Lanka and Japan with the visiting Defence Minister of Japan. During a meeting between

Melstacorp to enter healthcare biz

Views - 435 Thursday, 23 August 2018 00:00

Business tycoon Harry Jayawardena-controlled Melstacorp PLC is to enter into the booming healthcare industry. The Company said it will set up a subsidiary shortly to foray into healthcare, including management of hospitals, operating diagnostics cen

Cabinet nod to study issuance of yen, renminbi and eurobonds

Views - 145 Thursday, 23 August 2018 00:00

The Cabinet has approved a proposal presented by Finance Minister Mangala Samaraweera to appoint a board of officials to study and provide recommendations regarding the capability of issuing yen, renminbi and eurobonds. The Central Bank is to release

Today's Columnists

STEAMing STEM – Moving from horoscopes to telescopes!

Thursday, 20 September 2018

Walking into an inventors’ exhibition should give one an experience similar to an immersion into the future. The world change with inventions and inventors lead the change. The creativity displayed is an indicator of the creativity of the society f

There is smoke in the eyes of those who do not want to see!

Thursday, 20 September 2018

Shyamon Jayasinghe, a former citizen of Sri Lanka, now living in Victoria, Australia, writing to Daily FT in a Guest Column article has given an old college try at the President of Sri Lanka by announcing about a cloaked portentous writing on the wal

Modi celebrates birthday whilst making India strong – Lesson for SL

Thursday, 20 September 2018

The Indian Prime Minister celebrated his birthday earlier this week in the backdrop of India growing at a blistering performance of 7.1%. The January-March quarter saw the highest GDP growth in the last seven quarters with India becoming the sixth la

Maximum Residue Level: Dilemma of agricultural product exporters in Sri Lanka

Wednesday, 19 September 2018

Due to increased emphasis on consumer health, majority of developed countries such as EU, Japan and the US insist on MRL testing of food items which has to be done by the exporter. The Codex Alimentarius Commission which is an inter-governmental bod

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