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Presidential directive makes Export Development Board headless

Views - 1664 Wednesday, 23 January 2019 00:52

The country’s apex agency tasked with export development is now headless, after President Maithripala Sirisena directed a new criteria and approval process for the appointment of heads of State sector organisations. Until recently, subject veteran

P’ment approves wider powers to Commission Investigating Allegations of Bribery or Corruption

Views - 261 Wednesday, 23 January 2019 00:50

Parliament yesterday approved wider powers to the Commission Investigating Allegations of Bribery or Corruption (CIABOC).The development follows the House unanimously passing the Commissions of Inquiry (Amendment) Bill after it was taken up for debat

Rupee falls on importer dollar demand; stocks post 8-week closing low

Views - 293 Wednesday, 23 January 2019 00:50

REUTERS: Sri Lanka’s rupee closed weaker yesterday due to dollar demand from importers, while stocks fell to an eight-week closing low amid concerns over debt repayment by the Government. The rupee closed at 182.00/20 per dollar, compared with 181

MR slams Govt. for inadequate measures over Sena devastation

Views - 104 Wednesday, 23 January 2019 00:48

The “Sena” caterpillar devastation cropped up in Parliament yesterday, with Opposition Leader Mahinda Rajapaksa criticising the Government for failing to find a solution to prevent its spread, and provide compensation for the affected farmers. R

HNB first to launch Visa Concierge Service in Sri Lanka

Views - 576 Wednesday, 23 January 2019 00:00

Sri Lanka’s most innovative bank, HNB PLC partnered with the world’s largest global card network, Visa to offer Infinite and Signature cardholders a comprehensive array of personalised concierge services for the very first time in Sri Lanka. Th

Business leaders share the ‘why’ and ‘how’ of employer-supported childcare at roundtable

Views - 1011 Wednesday, 23 January 2019 00:00

IFC in collaboration with UNICEF had recently launched ‘Tackling childcare: The business case of employer-supported childcare in Sri Lanka,’ a report highlighting the positive effects of employers supporting the childcare needs of their employees

Rupee slips on importer, bank dollar demand; stocks down

Views - 455 Tuesday, 22 January 2019 01:01

REUTERS: The rupee closed slightly weaker on Monday, snapping two straight sessions of gains, due to dollar demand from banks and importers. Stocks fell 0.5% to their lowest close in eight weeks. Rupee... The rupee ended at 181.75/90 per dollar on M

Lucille Wijewardena reappointed Tea Board Chairman

Views - 557 Tuesday, 22 January 2019 01:00

Plantation Industries Minister Navin Dissanayake yesterday reappointed leading business figure and industry veteran Lucille Wijewardena as the Chairman of Sri Lanka Tea Board. The formal letter of appointment was handed over by the Minister at the Mi

December inflation dips to 2.1%

Views - 250 Tuesday, 22 January 2019 01:00

Annual average inflation hit 2.1% in December 2018, recording a monthly dip of 0.5% when compared with November, the Central Bank said in a statement yesterday. Headline inflation as measured by the year-on-year change in the National Consumer Price

Gap between rich and poor growing, fuelling global anger: Oxfam

Views - 174 Tuesday, 22 January 2019 00:59

NAIROBI (Reuters): Tax systems that put a high burden on the poor mean public services are underfunded, stretching the gap between rich and poor and fuelling global public anger, Winnie Byanyima, Executive Director of Oxfam International, said on Mon

Eve-of-Davos survey shows people place trust in companies over governments

Views - 160 Tuesday, 22 January 2019 00:59

DAVOS, Switzerland (Reuters): People around the world place much more trust in their companies than their political leaders, according to a major survey that suggests a mood of uncertainty and pessimism on the eve of the World Economic Forum in Davos

Gamini Senarath and three others pull out FR petitions

Views - 473 Tuesday, 22 January 2019 00:58

By S.S. Selvanayagam Former President’s Chief of Staff Gamini Sedara Senarath and two others yesterday pulled out their Fundamental Rights petitions as they have not been arrested as requested. Gamini... The matter came up before the Bench comprisi

Licences of 99mm firearms cancelled

Views - 261 Tuesday, 22 January 2019 00:58

In a bid to limit access members of organised crimes has to firearms, licences of all 9mm firearms have been cancelled immediately, with fresh permits to be issued from 23 January Defence Secretary announced yesterday. Licences... According to Defenc

More military personnel to be implicated

Views - 795 Tuesday, 22 January 2019 00:58

In an explosive statement, Defence Ministry Secretary Hemasiri Fernando yesterday said 11 soldiers would be prosecuted in the next two weeks over a high profile murder case, and called on the diaspora to submit evidence on crimes committed by any mil

JLanka to invest $ 10 m in Bahrain renewable energy sector

Views - 39 Tuesday, 22 January 2019 00:57

Sri Lanka-based JLanka International, a premier solar and renewable energy technology solutions provider, has announced an investment of up to $ 10 million within the coming five years in Bahrain’s renewable energy sector. JLanka... Commencing oper

WhatsApp limits text forwards to five recipients to curb rumours

Views - 38 Tuesday, 22 January 2019 00:56

JAKARTA (Reuters): Facebook Inc’s WhatsApp messenger service is globally limiting the number of times a user can forward a message to five, in a bid to fight “misinformation and rumours,” company executives said on Monday. “We’re imposing a

EIU continues to bet on SLPP victories in Presidential and General elections

Views - 1571 Monday, 21 January 2019 01:05

Indicating the collapse of the current Government later this year, the UK-based Economist Intelligence Unit (EIU) continues to predict victory by Sri Lanka Podujana Peramuna (SLPP) candidates at the next Presidential and General elections. This forec

oDoc wins Rs. 42 m grant from GSMA Ecosystem Accelerator Innovation Fund

Views - 656 Monday, 21 January 2019 01:03

Home-grown video medical consultation platformo Doc is gearing up for a rapid expansion in the scale of its domestic operations, having recently secured over Rs. 40 million in equity-free grant funding from the GSMA Ecosystem Accelerator Innovation F

Tourism achieves $ 4.4b revenue target for 2018

Views - 564 Monday, 21 January 2019 01:00

Sri Lanka has earned over $ 4 billion from tourism this year with a steadily increased revenue of 11.6% compared to 2017, according to the Sri Lanka Tourism Development Authority. The data suggests that an average duration of stay per person is 11 d

SLT appoints new CEO and COO

Views - 1267 Monday, 21 January 2019 00:59

Sri Lanka Telecom (SLT) has announced the appointment of K.A. Kiththi Perera as the new Chief Executive Officer (CEO) and M.B.P. Fernandez as the Chief Operating Officer. The decision on these appointments was made by SLT Board at its meeting last we

Activists decry Sri Lankan president’s praise for Duterte’s drugs war

Views - 206 Monday, 21 January 2019 00:58

MANILA, REUTERS: Human rights groups expressed alarm at Sri Lanka’s leader on Friday for praising Philippine President Rodrigo Duterte and his bloody war on drugs as an “example to the whole world”. Despite international condemnation of a crack

CB Chief says SL has potential to grow over 5% 

Views - 376 Monday, 21 January 2019 00:56

The Central Bank Governor Dr. Indrajit Coomaraswamy on Friday expressed confidence that Sri Lankas true growth potential was 5.7% and the 3% achievement was below par.  “The Central Bank thinks the potential growth rate is about 5.75%. So, the cur

Huawei expects 2019 revenue to touch $125b

Views - 127 Monday, 21 January 2019 00:00

Huawei CEO and Founder Ren Zhengfei recently said that 2019 could be a difficult year for Huawei; however the company, is targeting $ 125 billion in revenue for the whole year. Huawei has not released its total revenue for 2018 yet, but Eric Xu, one

BoardPAC wins big with 6 Stevie accolades at 2018 International Business Awards

Views - 217 Monday, 21 January 2019 00:00

BoardPAC, globally recognised as a leading provider of revolutionary paperless board-meeting automation solutions captured a record six Stevie accolades at the 15th International Business Awards (IBA) 2018 held recently. Impressively, BoardPAC was th

UL struggles with unusable aircraft leased from Aercap

Views - 1363 Saturday, 19 January 2019 00:10

SriLankan Airlines yesterday said an Airbus A330-200 that was acquired in 2016 was grounded and its engine fixed to another aircraft after it was found that the aircraft did not fit the current business model of the National Carrier. The aircraft be

Fitch Affirms SriLankan Airlines’ Govt.guaranteed bonds at ‘B’

Views - 21 Saturday, 19 January 2019 00:00

Fitch Ratings has affirmed SriLankan Airlines Ltd.’s (SLA) $ 175 million, 5.3% Government guaranteed bonds due 2019. The airline’s bonds are rated at the same level as SLA’s parent, the Government of Sri Lanka (B/Stable) due to the uncondition

SL and IRRI sign framework to boost national rice sector

Views - 29 Saturday, 19 January 2019 00:00

The International Rice Research Institute (IRRI) and Government of Sri Lanka yesterday inked a comprehensive work plan to advance Sri Lanka’s rice self-sufficiency goals through joint research for development projects in the country in the next fiv

Activists decry President’s praise for Duterte’s drugs war

Views - 93 Saturday, 19 January 2019 00:00

Reuters: Human rights groups expressed alarm at Sri Lanka’s leader on Friday for praising Philippine President Rodrigo Duterte and his bloody war on drugs as an “example to the whole world.” Despite internatio

Luxury ambulances distributed to hospitals countrywide

Views - 426 Saturday, 19 January 2019 00:00

A total of 152 luxury ambulances worth Rs. 2,850 million were distributed to hospitals island-wide by Health, Nutrition and Indigenous Medicine Minister Dr. Rajitha Senaratne at the Colombo Municipal Council (CMC), yesterday. The ambulances were l

Rupee extends gains on dollar sales by banks; stocks steady

Views - 264 Saturday, 19 January 2019 00:00

Reuters: The rupee closed firmer for a second straight session on Friday, helped by dollar selling by banks and after the IMF said it would resume discussions with the island nation for further disbursal of part of a $ 1.5 billion loan and the Centra

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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