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Ranil’s security slashed to 10 on IGP’s orders

Views - 1788 Monday, 29 October 2018 01:38

The UNP last night raised the alarm that Prime Minister Ranil Wickremesinghe – whose shock sacking on Friday threw the country into political turmoil – had been slashed to 10 officials, posing a threat to his life. IGP Pujith Jayasundara issued d

Post-Budget Forum cancelled

Views - 295 Monday, 29 October 2018 01:37

The Post-Budget Forum, organised by Daily FT and the Colombo University MBA Alumni Association, and scheduled for 7 November at Galadari Hotel, has been cancelled in view of the recent political developments.

Presidential coup that will send the country into darkness

Views - 4405 Monday, 29 October 2018 01:30

By an activist of the 2015 social media group ‘So Sri Lanka,’ you are back to square one! In most countries when politicians fail, we see military coups; however in Sri Lanka, for the very first time, we are witnessing a presidential coup against

World’s first price comparison website offering cross border shipping launches in Sri Lanka

Views - 810 Monday, 29 October 2018 00:00

It ultimately comes down to what the customer requires when it comes to buying online. A customer requires the best deals and to get it shipped for the least cost. Online buyers have become smarter in making decisions based on the wide variety of cho

Lake House taken over; ITN, Rupavahini under attack

Views - 24366 Saturday, 27 October 2018 01:49

By Marianne David State-owned Lake House newspapers Daily News, Dinamina and Silumina Editorials were taken over by Sri Lanka Podujana Peramuna (SLPP) unions last night, Daily FT learns. A highly-placed source linked to Lake House told Daily FT that

Mangala defends IRD Head appointment

Views - 727 Saturday, 27 October 2018 01:48

In the absence of a suitable candidate coming forward to accept the challenge of becoming the next Commissioner General of the Inland Revenue Department (IRD), Finance Minister Mangala Samaraweera told Parliament yesterday that he would not hesitate

P’ment passes Liability Management Act

Views - 279 Saturday, 27 October 2018 01:48

By Ashwin Hemmathagama – Our Lobby Correspondent Parliament yesterday passed legislation to allow the Government to borrow Rs. 310 billion to assist in debt management and currency management under the Active Liability Management Act of 2018 (ALMA)

Govt. and ADB sign agreement on healthcare

Views - 111 Saturday, 27 October 2018 01:48

The Government has mobilised grant and concessional loan assistance amounting to $ 50 million from the ADB to improve the efficiency, equity and responsiveness of the Primary Health Care system in Sri Lanka in line with the National Strategic Framewo

SL may miss tea export target: PA

Views - 150 Saturday, 27 October 2018 01:47

By Charumini de Silva The Planters’ Association (PA) this week said Sri Lanka might miss its projected tea production of 320 million kilos and revenue target of Rs. 260 billion this year due to multiple crises such as the absence of glyphosate, non

CB says new law will improve debt management

Views - 137 Saturday, 27 October 2018 01:47

The Central Bank yesterday said the passing of the resolution to raise Rs. 310 billion by way of loans in or outside Sri Lanka for liability management would help proactively address refinancing requirements and manage debt in a cost-effective manner

CSE lifts suspension ban on Adam Investments

Views - 172 Saturday, 27 October 2018 01:46

The Colombo Stock Exchange (CSE) announced that Adam Investments Plc has resolved the matters giving rise to the Qualified Opinion in the Independent Auditors Report on the Audited Financial Statements for the year ended 31 March 2017, in terms of Ru

Rupee hits record low; stocks at 2-week closing high

Views - 307 Saturday, 27 October 2018 01:46

Reuters: The rupee touched a record low on Friday as banks and importers purchased US Dollars, while stocks climbed 1.1% to a two-week closing high but foreign investors’ exit from the island nation’s risky assets weighed on sentiment. The rupee

$ 50 m ADB funds for health system

Views - 190 Friday, 26 October 2018 00:00

The Board of Directors of the Asian Development Bank (ADB) has approved a grant and loan package totaling $ 50 million to support the development of a more responsive and efficient primary health care system in four underserved Sri Lankan provinces.

Rupee closes near record low; stocks steady

Views - 366 Friday, 26 October 2018 00:00

Reuters: The rupee closed on yesterday near a record low hit earlier this week as banks and importers purchased the dollar, while stocks closed flat with higher turnover. The rupee ended at 1

Land prices grow 16.3% in 1H: CB

Views - 557 Friday, 26 October 2018 00:00

Land prices continued to expand in 2018 growing 16.3% in the first half compared to the same period last year, latest data released by the Central Bank showed yesterday. The rebased Land Price Index for the Colombo District, reached 116.3 during th

BoC and People’s Bank stable: Harsha

Views - 897 Friday, 26 October 2018 00:00

National Policies and Economic Affairs State Minister Dr. Harsha de Silva yesterday defended the stability of Bank of Ceylon (BoC) and People’s Bank in Parliament, dismissing criticism and assuring that they rem

Tile importers mount battle against protectionism

Views - 864 Friday, 26 October 2018 00:00

Taking a bold stand against protectionism, the Tiles and Sanitary ware Importers Association (TSIA) yesterday called on the Government to maintain existing tax rates, insisting that any changes would in

Tea revenue declines by Rs. 800 m from Jan-Sept.

Views - 428 Friday, 26 October 2018 00:00

Revenue from tea exports in the first nine months of the year showed a decline of Rs. 800 million, with production dropping by 3.5 million kilograms as all categories of bulk tea, packet tea and tea bags showed a decrease, Forbes and Walker said in a

State sector looking to use more Oracle technology: Harin

Views - 694 Thursday, 25 October 2018 00:05

By Nisthar Cassim in San Francisco The Government is looking at using more leading edge technological solutions from global giant Oracle including for e-procurement and enterprise resource planning. Digital Infrastructure, Telecommunications and For

CB outlines plans to raise $ 3 b

Views - 214 Thursday, 25 October 2018 00:00

The Central Bank is taking several steps to increase inflows, including Parliament-backed support to raise more funds and expand into Samurai and Panda bonds as well as initiate currency swaps with the Central Banks of Oman and Qatar to raise as much

SLTPB mulls fresh marketing campaign on Lonely Planet boost

Views - 169 Thursday, 25 October 2018 00:00

By Charumini de Silva Sri Lanka Tourism Promotion Bureau (SLTPB) will make a fresh allocation of $ 350,000 for a marketing campaign to be launched from January next year to capitalise on Lonely Planet’s rating of Sri Lanka as the number one country

PM hails SL topping global destination list by Lonely Planet

Views - 92 Thursday, 25 October 2018 00:00

Prime Minister Ranil Wickremesinghe yesterday lauded Sri Lanka being named as the top destination to visit in 2019 in the Lonely Planet ‘Best in Travel’ publication, while pledging continued support to develop the tourism industry. PM hails SL I

Standard Chartered ASA Regional CEO Judy Hsu visits Sri Lanka

Views - 142 Thursday, 25 October 2018 00:00

Standard Chartered’s ASEAN and South Asia (ASA) Regional Chief Executive Officer (CEO) Judy Hsu is on an official visit to Sri Lanka. During her visit, she will meet with key industry leaders, Government officials, clients, employees and the manage

Hemasiri new BOI Chairman

Views - 319 Thursday, 25 October 2018 00:00

Former People’s Bank Chairman and President’s Chief of Staff Hemasiri Fernando was yesterday appointed as the new Chairman of the Board of Investment of Sri Lanka (BoI) by President Maithripala Sirisena Sources confirmed that the new Chairman wou

Minister backs city hoteliers reopening nightclubs

Views - 556 Thursday, 25 October 2018 00:00

Tourism Development Minister John Amaratunga yesterday offered his support to Colombo hoteliers to recommence nightclub operations to retain more tourists in the capital and provide them with a wider range of enjoyable activities. “Colombo hotelier

SLT, Mobitel to expand use of Oracle solutions

Views - 301 Thursday, 25 October 2018 00:00

Encouraged by wider benefits at enterprise level, Sri Lanka Telecom and its subsidiary Mobitel are to expand the use of Oracle applications to further enhance the Group’s agility and prospects. SLT Group Chairman P. G. Kumarasinghe, who is attendin

Enterprise Sri Lanka to be expanded in Budget 2019

Views - 595 Wednesday, 24 October 2018 00:00

The Government’s attempt to promote entrepreneurship has resulted in the disbursement of Rs. 58 billion in Enterprise Sri Lanka loans to nearly 30,000 people, Finance Minister Mangala Samaraweera said yesterday, with plans to increase allocations f

Online direct sales hampered by lack of PayPal access

Views - 583 Wednesday, 24 October 2018 00:00

pushing Central Bank to expedite necessary changes The Finance Ministry yesterday acknowledged that they were still awaiting a decision by the Central Bank to allow PayPal accounts to be activated in Sri Lanka, allowing locals to receive money. Onli

Mangala writes to G24

Views - 168 Wednesday, 24 October 2018 00:00

Finance Minister Mangala Samaraweera yesterday said that he had written to the chair of the G24, calling for the group of developing countries to gather in Colombo to discuss mutual economic and financial challenges. “Sri Lanka

Rupee hits record low; stocks edge higher

Views - 307 Wednesday, 24 October 2018 00:00

Reuters: The rupee hit an all-time low for a third straight session on Tuesday as banks and importers purchased the US dollar despite the Central Bank’s intervention to prevent the fall, while stocks edged higher. The rupee dropped to an all-time l

Today's Columnists

Courting democracy; Housing disaster?

Thursday, 15 November 2018

A small step was taken by a sovereign court the day before yesterday. It was a giant leap for the supremacy of the Constitution over all three arms of government in a recently benighted Sri Lanka. As well as being the tangible proof of intra-governme

Sri Lanka’s Judiciary in its finest hour

Thursday, 15 November 2018

“We must never forget that the only real source of power we as judges can tap is the respect of the people” –Justice Thurgood Marshall

When scholars turn slayers of reason

Thursday, 15 November 2018

“… I think, that the intellectual is an individual endowed with a faculty of representing, embodying, articulating a message, a view, an attitude, philosophy or opinion to, as well as for, a public. And this role has an edge to it, and cannot be

A stable democracy is a prerequisite for the wellbeing of Sri Lankans

Thursday, 15 November 2018

In Sri Lanka, despite the complexity of overlapping policies, the slow pace in implementing economic policies has been of central concern in the past few years. The current political state in Sri Lanka poses a series of e

Columnists More