Front Page,TOP STORY

Crescendo of calls!

Views - 1807 Friday, 17 November 2017 00:00

Testifying before the Presidential Commission of Inquiry on the controversial bond issuance yesterday, a CID official said that former Director of Perpetual Treasuries Ltd. (PTL) Arjun Aloysius had telephoned several members of the second Committee o

Shangri-La Hotel, Colombo ushers in new era of tourism for Sri Lanka

Views - 799 Friday, 17 November 2017 00:00

Shangri-La Hotels and Resorts celebrated the opening of Shangri-La Hotel, Colombo yesterday with an inauguration ceremony that signalled the city’s most highly-anticipated hotel launch in nearly 30 years.

MR calls on masses to topple Govt.

Views - 542 Friday, 17 November 2017 00:00

MP and former President Mahinda Rajapaksa yesterday in Parliament called on the masses to give their fullest support to “send the incumbent government home”.

CSE trading from Disaster Recovery site today

Views - 232 Friday, 17 November 2017 00:00

The Colombo Stock Exchange (CSE) is to conduct a planned full day of trading from the Disaster Recovery site using ATS Version 7 Disaster Recovery Solution today, 17 November.

Relief for pre-Budget vehicle importers

Views - 627 Friday, 17 November 2017 00:00

Minister of Finance and Mass Media Mangala Samaraweera, while further relaxing the policies announced in Budget 2018 on the importation of vehicles, has also revised the policy on the Loan to Value (LTV) ratio on the

Second reading of Budget 2018 passed with two-thirds majority

Views - 85 Friday, 17 November 2017 00:00

The Second Reading of the Budget 2018 was successfully passed in Parliament yesterday with 151 voting in favour while 58 voted against it.

Ravi K opens up on CBSL and CID

Views - 871 Thursday, 16 November 2017 10:26

By Ashwin Hemmathagama – Our Lobby Correspondent Former Minister of Finance Ravi Karunanayake charged that the Central Bank of Sri Lanka’s conduct ridiculed the Government and prevented the country from moving forward. Joining the Second Reading

Govt. fast-tracks H’tota Port payments

Views - 839 Thursday, 16 November 2017 01:30

Seeking to fast-track payment from the $ 1.12 billion handover of the Hambantota Port, Cabinet has approved amending the Concession Agreement (CA) to revise the payment schedule between the Government and the Chinese investor and bring it forward, co

Softlogic suffers loss in 2Q; 1H net profit down 99%

Views - 948 Thursday, 16 November 2017 01:20

Diversified Softlogic Holdings Plc has suffered a net loss in the second quarter whilst first half net profit had dipped by 99% though the group’s results from operating activities have seen strong positive growth.

Liberalising shipping agencies first step to transform Colombo into maritime hub: Advocata

Views - 615 Thursday, 16 November 2017 01:20

Last week’s Budget contained important proposals around the liberalisation of the shipping sector. The port played a significant role in the development of maritime hubs such as Singapore, helping the country become a first world economy in a gener

Poultry producers welcome maize import liberalisation

Views - 373 Thursday, 16 November 2017 01:19

The recent Budget proposal to allow feed millers to import maize under a special limited quota to meet the shortfall in the local supply was hailed by poultry producers as a strongly positive measure that will support greater efficiency within the do

Fuel crisis: report places blame on CPC officials

Views - 699 Thursday, 16 November 2017 01:17

Ceylon Petroleum Corporation (CPC) officials of the were at fault for the recent fuel crisis faced by the country, the report of the Cabinet Subcommittee appointed by the President to investigate the issue, has found.

Hapag-Lloyd supports liberalisation of Lanka’s shipping and logistics sectors

Views - 109 Thursday, 16 November 2017 00:18

Hapag-Lloyd India has expressed support for the Government’s move to liberalise the country’s shipping and logistics industry.

SLFFA to conduct freight forwarder survey on foreign ownership Budget proposal

Views - 80 Thursday, 16 November 2017 00:18

The Sri Lanka Logistics SLFFA Chairman Jagath Pathirane stated: “We believe that this Budget proposal has triggered uncertainty and discomfort in the freight forwarding industry of this country and in turn for the exporters and importers of this co

Fitch says beer makers to regain market share with tax changes

Views - 96 Thursday, 16 November 2017 00:00

Fitch Ratings said yesterday that Sri Lanka’s beer industry would regain market share from hard liquor following a more favourable tax regime for the segment announced in the Government’s Budget on 9 November.

Ports Minister slams liberalisation move

Views - 1558 Wednesday, 15 November 2017 00:37

Setting the stage for a showdown between top ministers, Ports and Shipping Minister Mahinda Samarasinghe yesterday said he would oppose the proposed liberalisation of Sri Lanka’s shipping sector and faulted his

Sectoral drivers of CSE’s Jan-Oct. growth

Views - 236 Wednesday, 15 November 2017 00:35

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) has gone up by 6.25% from 1 January to 31 October 2017 from 6,228.2 points to 6,617.3 points.

HNB Group ups 9-month pre-tax profit by 4% to Rs. 16.8 b

Views - 330 Wednesday, 15 November 2017 00:35

Hatton National Bank Plc (HNB) continued its growth momentum to post a Group Profit before VAT and NBT of Rs. 20.7 billion while PBT

Budget keeps to IMF plan but fiscals still weak: Fitch

Views - 173 Wednesday, 15 November 2017 00:31

Fitch Ratings said yesterday Sri Lanka’s Budget for 2018 sticks broadly to the targets for fiscal deficit reduction under its three-year IMF program, which began in June 2016, but high government debt and the large cost of debt servicing weigh heav

Expert calls for access to data on implications of Budget proposals

Views - 478 Wednesday, 15 November 2017 00:31

A top economist yesterday called for free access to accurate data to properly asses the implications of 2018 Budget proposals.

Industrial production index up 6% in Sept.

Views - 72 Wednesday, 15 November 2017 00:30

According to the monthly Index of Industrial Production (IIP) released by the Census and Statistics Department, the volume of industrial production in Sri Lanka has increased by 6% in September 2017 compared to the same

TEA welcomes reforms in Budget

Views - 126 Wednesday, 15 November 2017 00:29

The Tea Exporters Association (TEA) yesterday welcomed the Budget, especially the proposals for trade reforms presented to Parliament by Finance Minister Mangala Samaraweera.

Budget 2018: Will clarity in thought translate to clarity in action?

Views - 154 Tuesday, 14 November 2017 00:00

Slow growth, declining export earnings and FDI inflows, and inadequate foreign exchange reserve cover characterise Sri Lanka’s current macroeconomic climate.

Liberalisation non-negotiable: Mangala

Views - 1385 Tuesday, 14 November 2017 00:00

Indicating he has the will to see his maiden Budget through, Finance Minister Mangala Samaraweera yesterday told private sector representatives discussions on Budget proposals were possible but changing the core principles

Commercial Bank posts typically robust 9-month results

Views - 227 Tuesday, 14 November 2017 00:00

The Commercial Bank of Ceylon Plc has reported profit of Rs. 19.718 billion before VAT and NBT on financial services for the nine months ending 30 September 2017, a growth of 20.25% on strong operational gains and tight

Global giant Maersk hails Govt’s move to liberalise shipping and logistics sector

Views - 744 Tuesday, 14 November 2017 00:00

Maersk Line, the largest global container shipping line and a market leader in Sri Lanka, said yesterday it fully supported the 2018 Budget proposals made by Finance Minister Mangala Samaraweera to open up the shipping

One-third of state institutes fail to comply with rules and regulations

Views - 302 Tuesday, 14 November 2017 00:00

The Public Accounts Committee (PAC) of Parliament has found that one-third of institutions evaluated by the committee had failed to comply with relevant rules and regulations in 2015.

Logistics at loggerheads!

Views - 1512 Monday, 13 November 2017 00:53

Sri Lanka’s pivotal logistics industry is at loggerheads over the 2018 Budget move to liberalise the shipping and freight forwarding industry - which contributes around $ 400 million - enabling foreigners ease of entry.

SL can no longer be a “nanny state”: Mangala

Views - 841 Monday, 13 November 2017 00:50

Finance Minister Mangala Samaraweera on Friday declared that Sri Lanka can no longer be a “nanny state” protecting local industry, but the country and the private sector must embrace liberalisation and reforms to be competitive and successful.

2018 Budget best since JR’s in 1977: Malik

Views - 352 Monday, 13 November 2017 00:48

Development Strategies and International Trade Minister Malik Samarawickrama on Friday described the 2018 Budget as the best iteration of the country’s annual financial policy statement since former President J.R. Jayewardene’s 1977 Budget.

Today's Columnists

Constitutional reform – A reply to Dr. Wijeyadasa Rajapaksa

Wednesday, 22 November 2017

The lengthy article by Dr. Wijeyadasa Rajapakshe PC on constitutional reform published in the newspapers recently appears to contain several errors of fact and of law

Ranil’s reluctant tryst with truth

Wednesday, 22 November 2017

Twenty years ago in 1998, Dr. Jayadeva Uyangoda writing in the periodical ‘Frontline’ traced our peculiar path of progress in the 50 years of independence

Omni-Channel Synchroniser for banks and financial institutions: An vision to simplify banking

Wednesday, 22 November 2017

Today, as a society we are noticing a historical shift from cash-based transactions to digitisation of financial transactions, and from the use of traditional banking channels to e-channels.

Extending the net of AML/CFT: The need for public awareness

Tuesday, 21 November 2017

By Press Notice, the Central Bank of Sri Lanka (CBSL) through its Financial Intelligence Unit(FIU), has drawn the attention of the public to “Extraordinary Gazette Notification No. 2015/56 dated April 21, 2017 prescribing

Columnists More