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SEC files charges on market manipulation

Views - 621 Thursday, 27 June 2019 02:23

The Securities and Exchange Commission of Sri Lanka (SEC) has filed action in the Magistrate’s Court Colombo Fort against two investors on charges of having committed the offence of market/price manipulation with regard to the shares of E-Channelli


UK deeply concerned over resumption of death penalty 

Views - 354 Thursday, 27 June 2019 02:23

The British High Commission yesterday said it was deeply concerned at the possible abandonment of the moratorium on the death penalty in Sri Lanka. “We are deeply concerned at reports that Sri Lanka intends to abandon its long-standing moratorium


Airbnb enters luxury travel market with Airbnb Luxe

Views - 192 Thursday, 27 June 2019 00:30

Built on the experience and knowledge gained from the acquisition of Luxury Retreats in 2017, Airbnb Luxe has launched with more than 2,000 handpicked homes around the world, each one passing strict evaluation across 300+ criteria to meet standards i


PS Chairman who banned Muslim traders from weekly fair asked to appear in court

Views - 557 Wednesday, 26 June 2019 01:59

Wennappuwa Pradeshiya Sabha (PS) Chairman K.V. Susantha Perera has been asked to appear before the Marawila Magistrate Court on Friday, in connection with a letter he issued prohibiting Muslim traders from doing business at the Dankotuwa weekly fair.


Janaposha Foundation’s free meals at hospitals regretfully closes doors

Views - 857 Wednesday, 26 June 2019 01:56

The Janaposha Foundation issuing a statement announced with immediate effect the suspension of its free meals project. The statement noted that it was “with great sense of sadness, despair and a heavy heart”that the Foundation has taken a decisio


Dr. Shafi Shihabdeen files FR petition contesting arrest and detention

Views - 490 Wednesday, 26 June 2019 01:56

Doctor Mohamed Shafi Shihabdeen (42) of Kurunegala Teaching Hospital, who is alleged to have sterilised women without their consent, filed a fundamental rights petition against his arrest and detention at the Criminal Investigations Department (CID)


Citi says proud to partner Govt. in $ 2 b dual-tranche intl. sovereign bond offering

Views - 337 Wednesday, 26 June 2019 01:55

Citi on 24 June partnered with the Central Bank of Sri Lanka on behalf of the Sri Lankan Government to raise $ 2 billion in a dual-tranche five-year and long 10-year bond offerings. The Notes were priced at a yield of 6.35% and 7.55% for the five-yea


Airtel revolutionises mobile telecom market

Views - 1391 Wednesday, 26 June 2019 01:53

In a move that is set to revolutionise the telecom industry, Airtel Lanka yesterday introduced a new product offering unlimited voice calls. With a price point of Rs. 98 or Rs. 3 per day, many industry analysts see this as something that will create


US relaxes travel advisory further

Views - 219 Wednesday, 26 June 2019 01:48

The United States has further eased travel restrictions imposed on Sri Lanka after the Easter Sunday attacks on several churches and hotels in the country. The Level 3 travel advisory issued on 26 April, which advised American citizens to reconsider


Dialog Rugby Club 7’s kicks off this weekend

Views - 119 Wednesday, 26 June 2019 00:49

A weekend of scintillating 7’s action is in store this weekend, as the much-anticipated Interclub Rugby 7’s, the most prestigious 7’s tournament in Sri Lanka’s rugby calendar, kicks off on 29 and 30 June at the Racecourse Grounds, Colombo.


CSE falls; rupee ends steady as bond sale attracts dollars

Views - 122 Wednesday, 26 June 2019 00:23

Reuters: Sri Lanka shares fell for the fourth straight session on Tuesday to hit a two-week low on foreign outflows, while rupee ended steady buoyed by dollar inflows into two new sovereign bonds launched a day ago, market sources said. The island n


Fitch, Moody’s and S&P assign ratings for dollar bond

Views - 394 Tuesday, 25 June 2019 00:35

International agencies Fitch, Moody’s and Standard & Poor yesterday assigned ’B (EXP)’and B2 and ’B’ ratings respectively to the Sri Lankan Government’s proposed senior unsecured US dollar-denominated bonds. Fitch said the expected ratin


Sri Lanka launches National Card Scheme

Views - 3406 Tuesday, 25 June 2019 00:34

The Central Bank together with LankaClear Ltd., ( LCPL) achieved a significant milestone in the country’s payment landscape by launching the National Card Scheme (NCS). NCS, will be operated by LCPL in partnership with the international payment ca


AG directs criminal investigations against former Def. Secy Hemasiri

Views - 206 Tuesday, 25 June 2019 00:34

The Attorney General(AG) yesterday directed Acting IGP Chandana Wickremeratne to initiate criminal investigations with regards to the ‘major lapses’ attributed to former Secretary to the Ministry of Defence Hemasiri Fernando for his failure to mi


PM orders cut in handling fees at BIA to boost tourism

Views - 488 Tuesday, 25 June 2019 00:33

Prime Minister Ranil Wickremesinghe ordered reduction in handling charges for airlines at the Bandaranaike International Airport (BIA) to encourage airlines to continue operating to Sri Lanka and reduce cost. At a meeting chaired by the Prime Minist


Sri Lanka Tourism rolls out Indian promotion in Mumbai and Delhi

Views - 670 Tuesday, 25 June 2019 00:33

Sri Lanka Tourism yesterday kicked off the post-Easter Sunday attacks special promotion to woo Indian tourists. The Sri Lanka Tourism Promotion Bureau (SLTPB) along with the Sri Lanka Inbound Tour Operators Association (SLAITO) and SriLankan Airlines


Thin capital buffers amid high risk appetite exert pressure on SMBs: Fitch

Views - 417 Tuesday, 25 June 2019 00:32

Fitch Ratings yesterday said ratings of Sri Lanka’s Small and Mid-sized Banks (SMBs) were driven mainly by their high risk appetite and modest loss-absorption buffers, warning that could exert pressure on the sector. Releasing a dashboard update, F


$ 5 b annual tea export target optimistic but not impossible: Ceylon Tea Brokers Chief

Views - 386 Tuesday, 25 June 2019 00:10

Ceylon Tea Brokers PLC Chairman and industry veteran Chrisantha Perera strongly believes a $ 5 billion export earnings target per annum for tea in the medium term is possible though optimistic. This view was shared by Perera in the Chairman’s Revi


CFA Sri Lanka fetes best in investment profession at Capital Market Awards 2019

Views - 553 Tuesday, 25 June 2019 00:05

By Charumini de Silva The annual flagship event of the CFA Society Sri Lanka, the Capital Market Awards 2019 and Forecast Dinner, was held for the seventh consecutive year last Friday. This year’s award ceremony recognised and rewarded 13 top perfo


SCB triggers big global demand to finance SriLankan Airlines

Views - 865 Monday, 24 June 2019 00:46

Standard Chartered acting as the Joint Lead Manager and Joint Book Runner successfully priced a $ 175 million five-year Fixed Rate Senior Unsecured Reg S issuance for SriLankan Airlines, guaranteed by the Democratic Socialist Republic of Sri Lanka at


President says good governance needs 18th, 19th Amendments abolished

Views - 460 Monday, 24 June 2019 00:44

President Maithripala Sirisena yesterday claimed that the 18th and 19th Amendments to the Constitution should be abolished in order to establish good governance in the country, to ensure freedom and democracy in the future. “Even though the monarch


Sampath Bank talking to investors to allot unsubscribed Rights

Views - 633 Monday, 24 June 2019 00:40

Sampath Bank is talking to potential investors to place the unsubscribed component of its Rs. 12.1 billion Rights Issue. The Rights Issue involved 89 million shares on the basis of seven new shares for 23 existing shares at Rs. 136 each. Sampath Bank


JKH announces new ESOP

Views - 518 Monday, 24 June 2019 00:35

Premier blue chip John Keells Holdings PLC has announced a new Employee Share Option Plan (ESOP) amounting to 1.5% of the issued share capital of the company with 0.5% issued annual over three years. The move is subject to shareholder approval at a G


Cabinet nod for plantation task force

Views - 325 Monday, 24 June 2019 00:30

By Chathuri Dissanayake the Government is to set up a task force to monitor progress of Regional Plantation companies under the supervision of the Plantation Ministry. The Cabinet paper presented by Plantation Industries Minister Navi Dissanayake to


Facebook adds new limits to address spread of hate speech in Sri Lanka and Myanmar

Views - 269 Monday, 24 June 2019 00:20

As Facebook grapples with the spread of hate speech on its platform, it is introducing changes that limit the spread of messages in two countries where it has come under fire in recent years: Sri Lanka and Myanmar. In a blog post on Thursday evening,


Capital market must focus on insurance sector to spur growth: NITF Chief

Views - 530 Monday, 24 June 2019 00:12

A top industry expert last week outlined insurance as a potential sector the capital market must focus on for future growth asserting that it will be a win-win proposition. “If insurance companies can grow bigger and enhance their participation in


Lucky Dissanayake wins Gold in Social Global Eco Awards

Views - 518 Monday, 24 June 2019 00:10

Biomass Group Founder Lucky Dissanayake did Sri Lanka and the planet proud, by winning the Global Green Economic Forum (GGEF) Eco Game Changer award in a glitzy event held at the Island Shangri-La hotel in Hong Kong. GGEF is the first and only awards


Parliament Committee recommends Govt. takeover of controversial Batticaloa Campus

Views - 292 Saturday, 22 June 2019 00:14

A Parliamentary Oversight Committee recommended yesterday that the controversial Batticaloa Campus Ltd. should be acquired by the Government under emergency regulations. “Considering the security situation of the country, monies received by the ins


SLAITO signs MoU with SLTPB to assist tourism recovery

Views - 163 Saturday, 22 June 2019 00:13

The Sri Lanka Association of Inbound Tour Operators (SLAITO) signed a Memorandum of Understanding (MoU) with the Sri Lanka Promotion Bureau (SLTPB) yesterday to assist in rebuilding the to


Sri Lanka in talks with China for $ 1 b loan

Views - 423 Saturday, 22 June 2019 00:12

COLOMBO, AFP: Sri Lanka is seeking a loan of nearly $ 1 billion from China for energy and highways as the island recovers from the devastating Easter Sunday bombings, the Finance Ministry said on Thursday. Talks are underway with China’s Asian I


Today's Columnists

We should sell our water

Monday, 22 July 2019

When you read the title of this article, you will probably feel disgusted with me as selling our water has been a controversial topic since a long time ago. By the way, I am talking about virtual water trade and you would be surprised to know that we


A voice of compassion amid howls of zealotry

Monday, 22 July 2019

The unrestrained freedom extended by the current regime to a bunch of saffron-clad street vendors of Sinhala Buddhist zealotry is pushing Sri Lanka once again into a cauldron of ethnic and religious convulsion. The nationwide spread and virulence of


Roger Beteille: The man who reinvented the commercial airliner

Monday, 22 July 2019

The visionary engineer, pilot and manager who led Airbus to some its most significant decisions, passed away last month. Beteille, who was the head of French aircraft manufacturer Sud Aviation’s flight testing section, was made technical director


“Sri Lanka’s future lies in producing exportable manufactured goods”: Dr. Howard Nicholas

Monday, 22 July 2019

Drawing lessons from Vietnam’s experiences The Sri Lanka-born economist attached to The Hague based Institute of Social Studies – Dr. Howard Nicholas – addressing a packed audience consisting of the alumni of the Postgraduate Institute of Manag


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