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CB cuts foreign investment threshold in Govt. securities

Views - 142 Monday, 28 January 2019 02:06

The Monetary Board has decided to reduce the threshold of foreign investments in Treasury bills and Treasury bonds from 10% to 5% out of the total outstanding stock of Treasury bills and Treasury bonds with effect from 18 January.

New owner of Hunas Falls ups stake to 81%

Views - 345 Monday, 28 January 2019 02:06

Serenity Lake Leisure Ltd., the new owner of Hunas Falls Hotels Plc, has increased its stake in the company to 81.09%. This follows the purchase of 0.84 million shares mostly at Rs. 187 each (mandatory offer price) or below. Among quantities bought

From seed bombing to cloud seeding

Views - 194 Monday, 28 January 2019 01:33

It was not so long ago, that the Sri Lanka Air Force, hand in hand with the University of Peradeniya and MAS, broke new ground by taking the first steps to explore the possibility of using seed bombing in Sri Lanka’s endeavour to increase the fores

FTA has weaknesses, President tells Singapore PM

Views - 330 Saturday, 26 January 2019 00:52

President Maithripala Sirisena yesterday told Prime Minister of Singapore Lee Hsien Loong that the country expects to carry out revisions to the Free Trade Agreement signed between the two countries, to rectify shortcomings from the Sri Lankan side.

Speaker refutes criticism on Constitutional Council

Views - 164 Saturday, 26 January 2019 00:51

Constitutional Council Chairman Speaker Karu Jayasuriya, rejecting the criticisms aimed at the Constitutional Council, told Parliament yesterday that “the Commission has followed regulations maintaining transparency, independent and non-partial.”

PM to inaugurate construction of Bingiriya EPZ next month

Views - 335 Saturday, 26 January 2019 00:51

The Government will commence the first phase of development in the Bingiriya Export Processing Zone (EPZ) next month under the patronage of Prime Minister Ranil Wickremesinghe. “The work of the first phase of the Bingiriya, Kurunegala District EPZ

Ruwan appointed UNP Deputy General Secretary

Views - 371 Saturday, 26 January 2019 00:50

The Working Committee of the United National Party (UNP) has unanimously decided to appoint State Minister of Defence Ruwan Wijewardene as the Deputy General Secretary of the party.

The Jaffna International Trade Fair commences

Views - 227 Saturday, 26 January 2019 00:49

A decade after the war ended, unemployment remains a serious problem in the north, Government Agent of Jaffna N. Vethanayahan said yesterday at the opening ceremony of the 10th Jaffna International Trade Fair (JITF), calling for the KKS harbour and n

Rupee ends steady; stocks extend gains

Views - 156 Saturday, 26 January 2019 00:49

Reuters: The rupee closed steady on Friday as dollar selling by exporters offset importer demand for the greenback, while stocks edged higher for a third straight session. The rupee closed at 181.60/80 per dollar, unchanged from Thursday’s close,

BOI signs MOU with Coast Conservation and Coastal Resources Management Department

Views - 165 Saturday, 26 January 2019 00:49

The Board of Investment of Sri Lanka signed a Memorandum of Understanding with the Coast Conservation and Coastal Resources Management Department. The MOU was signed on behalf of the BOI by BOI Director General Champika Malalgoda and Coast Conservati

Government rejects reports of moves to set up US military base in Sri Lanka

Views - 646 Saturday, 26 January 2019 00:10

Rejecting media reports claiming the Government will allow the United States to establish a military base in any part of Sri Lanka, Prime Minister Ranil Wickremesinghe blasted those who were involved in the constitutional crisis for making false accu

JVP says UNP is doing it no favours

Views - 51 Friday, 25 January 2019 00:00

JVP Leader Anura Kumara Dissanayake yesterday rejected United National Party (UNP) involvement in reappointing fellow MP Sunil Handunnetti as COPE Chairman as a move to fight corruption, and challenged them to produce former Central Bank Governor Arj

Marriage of politics at MR’s youngest son’s wedding

Views - 8094 Friday, 25 January 2019 00:00

Arch-rivals Mahinda Rajapaksa and Ranil Wickremesinghe were seen together at the wedding of the former’s youngest son, Rohitha Rajapaksa, to his long-time girlfriend Tatyana Lee Jayaratne yesterday, at a lavish ceremony at the family residence, Car

EDB Chairperson reappointed

Views - 551 Friday, 25 January 2019 00:00

Export Development Board Chairperson Indira Malwatte has been reappointed by President Maithripala Sirisena. The new Board of Directors of the EDB has been approved by President Maithripala Sirisena and Development Strategies and International Trad

Commercial Bank and its MD honoured with prestigious accolades in Singapore

Views - 469 Friday, 25 January 2019 00:00

The Commercial Bank of Ceylon has started 2019 on a winning note, with the bank being named one of ‘Asia’s Greatest Brands’ and its Managing Director S. Renganathan being honoured as one of ‘Asia’s Greatest Leaders’ by the Asian Business

HNB ups funds raising via debenture to Rs. 10 b

Views - 218 Friday, 25 January 2019 00:00

The Hatton National Bank (HNB) has announced that it has decided to increase the number of debentures to be issued to 50 million, Basel III compliant, tier II, listed, rated, unsecured, subordinated, and redeemable debentures with a non-viability con

DFCC boosting Tier 1 Capital

Views - 147 Friday, 25 January 2019 00:00

In the article titled DFCC to raise Rs. 7.6 b via Rights Issue of 2 for 5 at Rs. 72 per share, yesterday the move is to boost its Tier 1 capital and not Tier 2. The error is regretted.

Cabinet approves Rs. 6.1 b for paddy purchasing

Views - 171 Friday, 25 January 2019 00:00

Paddy yield has increased by 10% for the Maha season due to good rainfall in the last few months of last year, raising yields to three million metric tons of paddy production, an official said yesterday. Paddy Marketing Board Deputy General Manager S

Finance Ministry calls for Budget proposals

Views - 182 Friday, 25 January 2019 00:00

The Finance Ministry yesterday called upon all stakeholders, including the general public, to make their proposals for Budget 2019 before 11 February. Issuing a statement, the Finance Ministry said stakeholder contribution would ensure introduction o

Rupee edges up on exporter dollar sales; stocks gain

Views - 361 Friday, 25 January 2019 00:00

REUTERS: Sri Lanka’s rupee closed slightly firmer on Thursday due to dollar selling by exporters, while stocks edged higher for a second straight session, moving away from an eight-week closing low hit early this week. The rupee closed at 181.60/

Apparel wants more Indian market access

Views - 1050 Thursday, 24 January 2019 03:10

Sri Lanka Apparel Exporters Association (SLAEA) on Tuesday called on authorities to negotiate for sector-specific liberalisation through the Economic and Technological Cooperation Agreement (ETCA) to have greater access to the Indian market.

SriLankan Airlines improves performance

Views - 1287 Thursday, 24 January 2019 03:08

The national carrier, SriLankan Airlines, recorded a significant improvement in its performance for the nine months ended 31 December 2018 against the corresponding period in the previous year.Notable improvements were recorded in deployment of capac

$200m WB funding for healthcare

Views - 255 Thursday, 24 January 2019 03:05

Sri Lanka has signed up for $200 million in funding from the International Bank for Reconstruction and Development (IBRD) of the World Bank to implement the Primary Healthcare System Strengthening Project, the Finance Ministry said in a statement yes

DFCC to raise Rs. 7.6 b via Rights Issue

Views - 290 Thursday, 24 January 2019 03:01

DFCC Bank (DFCC) plans to raise Rs. 7.6 billion via a Rights Issue to further boost its Tier 1 Capital to support the Bank’s future business expansion plans. The Issue will be on the basis of two new shares for five held at Rs. 72 each and entails

Cracking down corruption crucial to attracting investment: EU

Views - 319 Thursday, 24 January 2019 03:01

Putting in place anti-corruption policies would assist in attracting investors to Sri Lanka and also encourage maximum use of GSP+, said the European Union Ambassador to Sri Lanka and Maldives Tung-Lai Margue on Tuesday. Speaking at the Breakfast Me

Rupee edges down on importer, state bank dollar demand

Views - 190 Thursday, 24 January 2019 03:00

REUTERS: Sri Lanka’s rupee closed slightly weaker on Wednesday due to dollar demand from importers and state banks, while investors remained cautious over debt repayment by the Government. Stocks edged higher from an eight-week closing low hit in

Cabinet approves more exemptions to VAT regulations

Views - 984 Thursday, 24 January 2019 03:00

The Cabinet this week approved an Amendment to the Value Added Tax Act, to enable the Minister to determine and prescribe by regulation the basis for the imposition of VAT on certain goods, the Government announced yesterday. The proposal presented

99X Services changes its name to Visolit

Views - 621 Thursday, 24 January 2019 02:21

99X Services Ltd. - the managed IT Services Company, which offers Infrastructure Management, Consultancy, Application Services and Managed Security Services to a predominantly Nordic companies, changes its name to Visolit. The name change is in line

HOTELIVATE confers Binod Chaudhary with Lifetime Achievement Award

Views - 584 Wednesday, 23 January 2019 01:01

The extraordinary visionary whose unbridled optimism and trailblazing foresight has seen him etch manifold chapters in building a formidable empire, Dr Binod Chaudhary, Nepal’s first billionaire as featured in Forbes, was presented with the coveted

Investigations pointless without results: Handunnetti

Views - 334 Wednesday, 23 January 2019 00:59

Newly appointed Committee on Public Enterprises (COPE) Chairman Sunil Handunnetti yesterday delivered a blistering indictment of top politicians from both the Sri Lanka Freedom Party (SLFP) and the United National Party (UNP),charging they were prote

Today's Columnists

Prudential banking and saga of MTD Walkers

Monday, 18 February 2019

The matters referred to in the article under this title published in the Daily FT (15 February) are spotlighted in more detail under this scrutiny. While the general attention of the public remains more focused on recently arrested underworld kingpin

SL growth profile: Arrest moving down the staircase immediately to avoid hard landing on the floor

Monday, 18 February 2019

Strong message in the Sri Lanka Development Update 2019 Sri Lanka Development Update for 2019 was released by the World Bank last week. This document contains a review by the bank’s residential staff of the present state of the country’s economy

Minister Wijeyadasa Rajapakshe’s empty rant

Monday, 18 February 2019

The rant Minister Wijeyadasa Rajapakshe (WR) has joined President Sirisena’s reckless verbal onslaught on the Constitutional Council (CC) that was set up by the 19th Amendment (Daily Mirror 15 February). I use “verbal onslaught” intentionally s

Perfidious politics of Wijeyadasa Rajapakshe PC

Monday, 18 February 2019

Inject truth to politics. Then you will not have any politics. The Nazi legal theorist Carl Schmitt stressed on the importance of rhetoric to create fear of imminent danger threatening the state. The first step in the process was to create open hos

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