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Sirisena to contest 2020 Presidential elections: Duminda

Views - 738 Tuesday, 18 September 2018 00:20

President Maithripala Sirisena would be contesting the 2020 Presidential elections, a senior SLFP Minister revealed yesterday. Irrigation, Water Resources and Disaster Management Minister Duminda Dissanayake told the Daily FT that President Sirisena

SCB sees big scope for Colombo Port City

Views - 635 Tuesday, 18 September 2018 00:18

The Colombo Port City has the potential to be a key catalyst for foreign direct investments in Sri Lanka for a long time to come, believes Standard Chartered Bank Sri Lanka CEO Jim McCabe, but only if essential legislation is put in place to facilita

VAT on imported fabric reduced to 5%

Views - 231 Tuesday, 18 September 2018 00:17

Finance Minister Mangala Samaraweera, considering the requests made by the stakeholders in the fabric industry, has reduced the Value Added Tax (VAT) on imported fabric to 5%. The Minister signed the Gazette notification in this regard yesterday. Ear

Rupee hits record low for 4th straight day

Views - 321 Tuesday, 18 September 2018 00:17

Reuters: The rupee touched a fresh low of 165.10 per dollar on Monday due to higher dollar demand from importers and banks to facilitate foreign bond outflows amid exporters who were reluctant to sell the US currency, market sources said. Rupee... Ex

CB clarifies on “erroneous” report regarding Sri Lanka issued by Nomura Holdings

Views - 439 Tuesday, 18 September 2018 00:16

The Central Bank yesterday issued its clarification over what it described as “erroneous” report issued by Nomura Holdings Inc. It said several international media sites had recently quoted an analysis by Nomura Holdings Inc., which shows that se

Govt. to introduce digital ID soon

Views - 1590 Monday, 17 September 2018 00:43

The Government will soon implement digital identification, a move which was described by a telecom industry leader last weekas likely to be the single most important entry ticket for broad citizenry to participate in a digital economy.

17 experts to offer key insights on cyber security at FT-CICRA Summit on Thursday

Views - 433 Monday, 17 September 2018 00:40

Seventeen speakers and panellists, including top foreign experts, will attend the sixth annual Cyber Security Summit, Sri Lanka’s premier information security awareness event, on 20 September at the Cinnamon Grand Colombo.

PUCSL goes to court to recover annual licence fee from CEB 

Views - 226 Monday, 17 September 2018 00:39

The Public Utilities Commission of Sri Lanka (PUCSL) filed a case in the District Court of Colombo over outstanding annual licence fee due from the Ceylon Electricity Board (CEB).

Aussies ditching Bali and Bangkok for Sri Lanka

Views - 1521 Monday, 17 September 2018 00:38

More Australians are opting for holidays in Sri Lanka as opposed to Bali in Indonesia and Bangkok in Thailand, according to a report published by UK’s Daily Mail.

World Bank commits $ 200 m to elevate Sri Lanka’s public health services

Views - 349 Monday, 17 September 2018 00:32

The World Bank has committed $ 200 million to upgrade the standards of performance of Sri Lanka’s public health system under the Second Health Sector Development Project for Sri Lanka.

President says will amend Sri Lanka-Singapore FTA if needed

Views - 456 Saturday, 15 September 2018 00:19

The Sri Lanka-Singapore Free Trade Agreement will be revised if the expert committee appointed deems it harmful to the country’s economy, President Maithripala Sirisena said yesterday. Speaking to newspaper editors and electronic media heads, Siri

PM says SL economy moving into challenging ‘uncharted territory’

Views - 589 Saturday, 15 September 2018 00:10

As Sri Lanka reaches macroeconomic stability, Prime Minister Ranil Wickremesinghe said the economy was now moving into ‘uncharted territory,’ calling for active private-public engagement to propel an in

PM says country isn’t nearly as vulnerable as others claim

Views - 308 Saturday, 15 September 2018 00:09

Prime Minister Ranil Wickremesinghe shot back at economists who called out the country as among Asia’s most vulnerable to global emerging market volatility. The South Asian nation is building longer term financial stability by diversifying its expo

National Crafts Council to develop brands for global markets

Views - 73 Saturday, 15 September 2018 00:02

In a bid to increase the marketability of local crafts, the National Crafts Council of Sri Lanka (NCCSL) is developing new brands targeting the global market, NCCSL Chairman Heshani Bogollagama said.

CID files case against Ravi

Views - 277 Saturday, 15 September 2018 00:02

The Criminal Investigations Division (CID) yesterday filed a case against former Finance Minister MP Ravi Karunanayake at the Colombo Magistrate’s Court for giving false evidence to the Presidential Commission of Inq

First national packaging bonanza for Sri Lanka SMEs

Views - 100 Saturday, 15 September 2018 00:01

The Government is to provide Rs. 10 million in assistance to develop the local packaging industry, including advance training for 150 small and medium enterprises (SME). Sri Lankan SMEs, a key driver of the country’s GDP, are to collect a hefty pa

Shares mark over 2-week closing low on foreign selling

Views - 24 Saturday, 15 September 2018 00:00

REUTERS: Shares fell to a more-than-two-week closing low on Friday as investors sold beverage and banking shares, even as foreign investors continued to trim their equity exposure for a third straight day.

Dr. Amunugama to attend International Cooperation Forum in China

Views - 18 Saturday, 15 September 2018 00:00

Minister of Science, Technology, Research, Skills Development and Vocational Training, and Kandyan Heritage Dr. Sarath Amunugama has been invited by the organising committee of the 17th Western China Interna

Rupee touches fresh low for third straight day

Views - 238 Saturday, 15 September 2018 00:00

REUTERS: The rupee hit a fresh low against the dollar on Friday and traders expect the currency to be under pressure due to continued importer dollar demand. However, the dollar dipped on Friday against a basket of six major currencies after weaker-t

Reform window still open: Expert

Views - 201 Friday, 14 September 2018 07:45

Sri Lanka’s current economic environment offers a window of opportunity for implementing crucial structural reforms and advancing towards greater competitiveness, KPMG India Chairman and CEO Arun Kumar said yesterday.

Economic sentiment remains muted: Survey

Views - 328 Friday, 14 September 2018 00:00

Sentiment surrounding the economy remained gloomy in August with the latest LMD-Nielsen Business Confidence Index (BCI) survey revealing that almost half of the businesspeople consulted expect the economic milieu to worsen in the next 12 months. A c

Tea volumes drop to 18-month low

Views - 233 Friday, 14 September 2018 00:00

Tea auction volumes continued to decline due to adverse weather conditions in the tea-growing regions, tea brokers said yesterday, with the lowest volume on offer since March 2017. Auction No. 38, the catalogues for which were closed last week, total

Hambantota Port signs historic TSA with K-Line

Views - 1029 Friday, 14 September 2018 00:00

The Hambantota International Port Group (HIPG) has entered into its very first Terminal Service Agreement (TSA) with K-Line Ltd. (KLPL), one of the world’s largest Ro Ro operators and a member of the global giant in transportation, Kawasaki Kisen K

Cabinet thwarts President’s attempt to prevent CDS arrest

Views - 872 Friday, 14 September 2018 00:00

Ministers remained tight lipped about the subject matter discussed at a special Cabinet meeting following strict gag orders by President Maithripala Sirisena. “We have been asked not to speak about the issue,” a key UNP Minister told Daily FT, re

Welgama against Presidential candidacy for MR’s brothers

Views - 2189 Friday, 14 September 2018 00:00

By Skandha Gunasekara Senior member of the Joint Opposition, Parliamentarian Kumara Welgama, in a challenge of sorts to former President Mahinda Rajapaksa, yesterday said the Presidential candidacy cannot be kept within one political family. MP Welga

Kapila Jayawardena appointed Seylan Bank Deputy Chairman

Views - 582 Friday, 14 September 2018 00:00

The Seylan Bank Board of Directors has appointed its Non-Executive Director and LOLC Group Managing Director/CEO Kapila Jayawardena as Deputy Chairman of the Board with effect from 10 September, according to a CSE filing. Jayawardena holds a MBA in

Govt. awards tourism digital promotion campaign

Views - 609 Thursday, 13 September 2018 00:03

By Charumini de Silva Tourism Development Minister John Amaratunga will award the agreements today to execute the much-delayed $ 3.5 million digital promotional campaign covering five key markets accounting for over 50% of tourist traffic, which is a

Pharma industry delivers bitter pill on pricing cap

Views - 942 Thursday, 13 September 2018 00:02

By Chathuri Dissanayake In the backdrop of the Government attempting to expand price controls on drugs, the pharmaceutical industry yesterday called for a transparent and sustainable pricing mechanism inclusive of all stakeholders, along with a stro

Sri Lanka Economic Summit 2018 kicks off today

Views - 672 Thursday, 13 September 2018 00:01

The Sri Lanka Economic Summit 2018 will be inaugurated this morning (13) at the Cinnamon Grand, Colombo. The two-day event, which is Sri Lanka’s foremost economic summit and organised by the Ceylon Chamber of Commerce for the 18th consecutive year,

Today's Columnists

In the desert of Tamil films, actor Sivaji Ganesan was an oasis

Saturday, 22 September 2018

‘Indian Film,’ first published in 1963 and co-authored by former Columbia University Professor Erik Barnouw and his student Dr. Subrahmanyam Krishnaswamy, is considered a seminal study of the evolution and growth of Indian cinema. The book is cit

Imran may turn blind eye to blasphemy law and persecution of Ahmadiyyas

Saturday, 22 September 2018

There are clear signs that Pakistan’s freshly minted Prime Minister, Imran Khan, will make a sincere effort to reduce corruption and maladministration in the domestic sphere. In foreign affairs he is likely to make a brave attempt to mend fences wi

The rate of exchange, capital flight and the Central Bank

Friday, 21 September 2018

The Central Bank (CBSL) exists for the sole purpose of price stability. Its controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation

Red flag over the Sri Lankan Navy

Friday, 21 September 2018

Shocking story Rusiripala, a former banker in Sri Lanka, who has taken to writing in Daily FT, is perturbed by the red flag I have raised (Daily FT article 18 September) over the shocking charge that our Navy had operated a ransom gang that had abduc

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