Business,Front Page

Sri Lanka to discuss Draft National Policy on LNG

Views - 124 Friday, 22 March 2019 00:00

The Ministry of Highways and Road Development together with Petroleum Resources Development has developed the Draft National Policy on Liquid Natural Gas with a view to establish and develop the natural gas industry in Sri Lanka. With the view of fu

Water for all!

Views - 231 Friday, 22 March 2019 00:00

Muthun Murugaiya provides water for 15 families. The 60-year-old has the only working well in the neighbourhood in his front garden. Just feet away, the community well lies dry – groundwater is low in the village of Veemankamam in Sri Lanka’s Jaf

‘SheLeads’ IWD event by Google’s Womenwill to focus on leadership and gender balance

Views - 71 Friday, 22 March 2019 00:00

A balanced world is a better world. This is the idea behind this year’s International Women’s Day, which was celebrated on 8 March. In celebrating this annual event, Google’s Womenwill program focuses on the idea that bringing about gender equ

SEC Chief welcomes PM’s remark on EPF’s return to stock market

Views - 495 Thursday, 21 March 2019 01:52

The Securities and Exchange Commission Chairman Ranel Wijesinha yesterday welcomed Prime Minister Ranil Wickremesinghe’s Tuesday announcement on the return of Employees’ Provident Fund (EPF) to the Colombo stock market.

Diplomats show way forward for Sri Lanka

Views - 1014 Thursday, 21 March 2019 01:51

Ten diplomats on Tuesday shared their frank views on a wide range of topics as to what they think is the best way forward for Sri Lanka at the packed Fireside Chat 2019 organised by the Daily FT, ICC SL and CIMA at Hilton Colombo.Envoys of UK James D

Dhammika calls for rethink of policies for growth

Views - 798 Thursday, 21 March 2019 01:50

Well-known businessman Dhammika Perera on Tuesday stressed that Sri Lanka needs to focus on growth that creates jobs and promotes innovation to move forward from the country’s current middle income status.

UN rights chief warns Sri Lanka of fresh conflict

Views - 376 Thursday, 21 March 2019 01:42

The UN human rights chief yesterday warned Sri Lanka it could slip back to conflict unless it addressed the “worst crimes” during the final stages of its ethnic war. Michelle Bachelet told the Human Rights Council that Sri Lanka...

Singapore rejects Sirisena’s allegation on Mahendran

Views - 540 Thursday, 21 March 2019 01:38

Singapore yesterday rejected President Maithripala Sirisena’s allegation that it was sheltering a former Central Bank chief wanted for fraud, saying Colombo failed to provide documents to support its extradition request.

Case against Lankan tyre exports dismissed by US Courts

Views - 343 Thursday, 21 March 2019 01:35

Sri Lanka has achieved another legal victory in the case of countervailing duties imposed by the US against off-the-road (OTR) tyres from Sri Lanka, after the US Department of Commerce decided to withdraw an appeal against the decision of the US Cour

Oman denies it has agreed to invest in Sri Lanka oil refinery project

Views - 684 Thursday, 21 March 2019 01:34

Oman’s Oil Ministry yesterday denied being part of a $ 3.85 billion plan to build an oil refinery in Sri Lanka, a day after the Government in Colombo announced the Arab country’s participation.

Sri Lanka quarterly growth slows to near 4-year low on political crisis

Views - 273 Thursday, 21 March 2019 01:34

Sri Lanka’s last quarter economic growth slowed to a nearly four-year low, Government data showed on Tuesday, as a 51-day political crisis took a toll on the industrial sector. Colombo posted 1.8% growth in the fourth quarter of 2018....

CB clarifies on ISB sales

Views - 539 Wednesday, 20 March 2019 00:20

The Central Bank yesterday insisted that it has followed transparency procedures and due process when issuing International Sovereign Bonds (ISBs) and that the interest rates were according to market standards. With reference to the recent paper a

CSE falls to more than 6-year low on foreign selling; Rupee weaker

Views - 412 Wednesday, 20 March 2019 00:15

Colombo (Reuters): Sri Lanka’s share index fell for the third straight session on Tuesday to a more than 6-year closing low in light trading volume with foreign investors on the selling side, as the market awaits direction from the third and final

Retraining Arts graduates needed for private sector job demands

Views - 326 Wednesday, 20 March 2019 00:12

By Ashwin Hemmathagama – Our Lobby Correspondent Giving Arts students, who make up the largest component of unemployed graduates, the chance to start STEM subjects would make them more employable, State Minister of Finance Eran Wickramaratne said y

JVP irate over non-collection of taxes from distillery company

Views - 180 Wednesday, 20 March 2019 00:10

A distillery company linked to Perpetual Treasuries head Arjun Aloysius has skipped paying tax money estimated at Rs. 50.6 million, the Opposition held yesterday in Parliament. JVP lawmaker Dr. Nalinda Jayatissa, joining the Committee Stage Program o

NBFIs under pressure from asset quality and profitability: Fitch

Views - 350 Wednesday, 20 March 2019 00:05

Fitch Ratings expects Sri Lankan non-banking financial institutions (NBFI) to continue to face pressure on asset quality and profitability in the medium term, given slowing growth and movement away from vehicle financing, which was earlier a core seg

Kabul calls for first direct air corridor, investment pact to revive Sri Lanka trade

Views - 152 Wednesday, 20 March 2019 00:00

Buoyed by its unprecedented victory in the latest global Doing Business ranks, Afghanistan has called to open a direct air corridor with Sri Lanka on 25 March. Kabul is also keen on an Investment Protection and Promotion (IPP) pact with Colombo to re

Japan to provide waste collection trucks for Jaffna

Views - 323 Wednesday, 20 March 2019 00:00

The Government of Japan has extended a total sum of $ 83,432 (approx. Rs. 15 million) for “The Project for Providing Secondhand Waste Collection Trucks in Jaffna” through its Grant Assistance for Grassroots Human Security Projects (GGP). The gra

Tripitakabhivandana Dhamma Discussion: Buddha’s words a gift to humanity

Views - 57 Wednesday, 20 March 2019 00:00

The Consulate General of Sri Lanka in Sydney together with the jointly organised a Dhamma Discussion with Ven. Ajahn Sujato Thero, Co-Founder of SuttaCentral and Dr. Mark Allon (PhD Cambridge), Chair of School of Languages and Cultur

CEB set on carrying out load shedding to deal with current power shortage

Views - 3134 Tuesday, 19 March 2019 01:29

Ceylon Electricity Board has requested approval from the Power Ministry to carry out load shedding to cope with the current deficit in the power supply, owing to prevailing dry weather conditions in the country, as unscheduled power cuts were experie

Economic sentiment on the rise: Survey

Views - 538 Tuesday, 19 March 2019 01:28

Sentiment surrounding the economy improved in February as 12% of respondents in the latest LMD-Nielsen Business Confidence (BCI) poll believe that conditions ‘will get better’ in the next 12 months. “The economy has begun to stabilise now, and

Huawei steps up commitment, growth potential in “innovation hub” SL

Views - 599 Tuesday, 19 March 2019 01:28

Global giant Huawei yesterday reiterated its commitment to Sri Lanka, a regional hub for innovation and core business segments delivering good growth with potential for more. Huawei Technologies Lanka CEI Shunli Wang told journalists yesterday that

Fireside Chat 2019 at 6 p.m. today

Views - 181 Tuesday, 19 March 2019 01:27

The Fireside Chat 2019, organised by Daily FT, CIMA and ICCSL, will commence at 6.00 pm at the Hilton Colombo. Prime Minister Ranil Wickremesinghe, Vallibel Group ChairmanDhammika Perera, and Vishwas Udgirkar of Deloitte Consulting, UK High Commissio

Shares end little changed; rupee rises

Views - 297 Tuesday, 19 March 2019 01:27

Reuters: Sri Lanka’s share index ended little changed on Monday, hovering near its 5-1/2-year low, as investors’ awaited direction from the third and final vote on the 2019 Budget, market sources said. Parliament last week passed the second read

FITIS calls on Govt. to remove 3.5% NBT for foreign payments

Views - 622 Tuesday, 19 March 2019 01:27

The Federation of the Information Technology Industry Sri Lanka (FITIS) yesterday called on the Government to remove the 3.5% NBT proposed in the Budget 2019 completely from foreign payments using credit and debit cards, insisting it will affect the

“Sri Lanka will see more mid-cap M&A deals”: MTI

Views - 299 Tuesday, 19 March 2019 00:00

According to MTI’s Corporate Finance and Investment Banking practice, over the next two years Sri Lanka is likely to witness a strong pipeline of mid-cap M&A deals. Commenting on what is driving this, MTI CEO Hilmy Cader said, “There is a multitu

CSE Chairman’s views on the way forward for the stock market

Views - 295 Tuesday, 19 March 2019 00:00

CSE Chairman Ray Abeywardena who was a panellist at the 7th Annual Capital Market Conference organised by UTO Educonsult Ltd. which was held on 13 March at the Ramada Hotel airing his views on the plans to develop the market confirmed that initiative

National Action Plan for Combating Bribery and Corruption debuts today

Views - 228 Monday, 18 March 2019 00:20

A National Action Plan for Combating Bribery and Corruption will be launched today by President Maithripala Sirisena. The plan, which got Cabinet approval on 5 February, is premised on four strategies for combating bribery and corruption in Sri Lanka

Fireside Chat 2019, tomorrow at Hilton Colombo

Views - 510 Monday, 18 March 2019 00:15

The Fireside Chat 2019 organised by Daily FT, CIMA and ICCSL will kick off tomorrow at the Hilton Colombo. The highlight of the fireside chat this year will be the closing session with Prime Minister Ranil Wickremesinghe, who will discuss some of the

$ 70 m from World Bank for $ 100 m project to improve local services in rural areas

Views - 175 Monday, 18 March 2019 00:10

The World Bank Board of Directors has approved a $ 70 million credit to improve the quality of life of around one million people living in Northern, North Central, Eastern and Uva Provinces in Sri Lanka. The new local development project will put lo

Today's Columnists

4-day work week: A solution to many problems?

Tuesday, 26 March 2019

A three-day weekend every week and only four days of work a week. The idea would seem too good to be true for many. But this is an idea that is being experimented in the West and some companies have already started out on a four-day work week. How ab

Christchurch massacre and the Australian Labor Party

Tuesday, 26 March 2019

“He sought many things from his act of terror, but one was notoriety, and that is why you will never hear me mention his name… He is a terrorist, he is a criminal, he is an extremist. But he will, when I speak, be nameless… And to others I impl

Political bait to woo the professionals or a genuine effort to build the economy?

Tuesday, 26 March 2019

It has been a forgone conclusion that Sri Lanka’s current economic woes have been precipitated by the debt burden the country has to serve in the short term and the negative Balance of Trade. Whilst improving tax collection is a temporary measure t

Handagama’s Asandimitta: Not mere psychoanalysis; sociocultural, political and economic analysis too

Monday, 25 March 2019

Sri Lanka’s award winning film director, Asoka Handagama, screened his latest creative work, Asandimitta, before an invited audience in Colombo last week. This was a prelude to its public release, which was to be commenced immediately. Handagama i

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