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Govt. to bring new laws to combat online hate speech

Views - 1319 Friday, 24 January 2020 00:18

The Defence Ministry is to introduce new laws to stop defamatory posts and comments on social media and also set up a mechanism for immediate removal of ethically and religiously sensitive posts that spread hatred via social media networks, it said i

Sri Lanka stagnates on Corruption Perceptions Index

Views - 241 Friday, 24 January 2020 00:15

Sri Lanka’s score on the latest Corruption Perceptions Index released yesterday remained unchanged, indicating that the public’s view of State sector governance remains stagnant despite policy and political promises. Sri Lanka ranks 93rd out

Hayleys Plantations to celebrate employees with Best Tea Plucker Competition 2020

Views - 171 Friday, 24 January 2020 00:00

Celebrating the hard work and dedication of its most valuable employees in the tea sector, one of Sri Lanka’s highest-ranked plantations groups, Hayleys Plantations will host the inaugural Best Tea Plucker Competition at the Radella Estate in Nanuo

Govt. lists four coal, LNG power plants to jumpstart generation

Views - 383 Friday, 24 January 2020 00:00

In an attempt to jumpstart long delayed generation plans Cabinet this week approved several power plants to be fast-tracked for implementation including two 300 MW coal power plants, while also dusting off two 300 MW LNG power plants and considering

SME organisation appeals for extended moratorium deadline

Views - 669 Thursday, 23 January 2020 02:37

Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) has called for the deadline of the landmark loan moratorium for SMEs offered by the Government to be extended as most companies would struggle to reach the existing deadline of

South Asia’s first all-electric supercar leaves SL for Geneva Motor Show

Views - 17191 Thursday, 23 January 2020 02:36

Vega Innovations, a subsidiary of CodeGen International Ltd, will create history once again as the Vega EVX, Sri Lanka’s and South Asia’s first fully-electric supercar, is shipped to Switzerland to be unveiled at the 90th Geneva International Mot

Tea industry veteran takes over as Chairman of SL Telecom

Views - 2753 Thursday, 23 January 2020 02:35

Tea industry veteran Rohan Fernando has been appointed as the new Chairman of Sri Lanka Telecom PLC. Previously Nimal Perera (one time Chairman of Urban Development Authority) was announced as the likely SLT Chairman. However the Government has deci

SL a $ 16 b opportunity for private sector to invest in sustainable development: Standard Chartered

Views - 2032 Thursday, 23 January 2020 02:31

The Standard Chartered SDG Investment Map reveals an almost $ 10 trillion ($ 9.668 trillion) opportunity for private-sector investors across all emerging markets, with Sri Lanka representing $ 16.2 billion of that total. The study identifies opportun

Companies say imported milk powder safe, contrary to GMOA claims

Views - 852 Thursday, 23 January 2020 02:30

Fonterra Brands Sri Lanka, Maliban Milk Products and Diamond Milk Products in a joint statement yesterday said they were deeply concerned about claims by the Government Medical Officers’ Association (GMOA) that imported milk powder from New Zealand

CEB extends closing date for 104 MW supplementary power tender

Views - 323 Thursday, 23 January 2020 02:29

The Ceylon Electricity Board (CEB) has extended its closing date for 104 MW of supplementary power from 16 January to 30 January. This brings the 104 MW tender closing date in line with the 96 MW tender which also has a closing date of 30 January, Po

CPC owed Rs. 154 billion by multiple State institutions

Views - 314 Thursday, 23 January 2020 02:29

The Ceylon Petroleum Corporation (CEYPETCO) has notified the Power and Energy Ministry that it is owed a staggering Rs. 154 billion by a number of State organisations, including the Ceylon Electricity Board (CEB), SriLankan Airlines and the Sri Lanka

Fitch revises outlook on 5 banks, 1 NBFI to Negative

Views - 4217 Thursday, 23 January 2020 02:28

Fitch Ratings yesterday said it has revised the Outlook to Negative from Stable on the Long-Term Issuer Default Ratings (IDR) and National Long-Term Ratings of several Sri Lanka-based banks and has affirmed their ratings. Bank of Ceylon (BOC), Nation

Five forensic audits cost Rs. 275 m, says CB

Views - 315 Wednesday, 22 January 2020 02:50

The Central Bank of Sri Lanka (CBSL) yesterday sought to set the record straight on several aspects of the forensic audit reports, including clarifying that Rs. 275 million had been spent on them and that the sixth forensic audit was still underway.

New SEC Chairman appointed, but appointment bad in law, claim analysts

Views - 2470 Wednesday, 22 January 2020 02:47

Additional Solicitor General Viraj Dayaratne PC has been appointed as the Chairman of the Securities and Exchange Commission of Sri Lanka (SEC) by the Prime Minister and Minister of Finance Mahinda Rajapaksa. His appointment, however, is being terme

More French, Belgian tourists to visit SL after mega PR blitz

Views - 640 Wednesday, 22 January 2020 02:45

More French and Belgian tourists are anticipated following the conclusion of a mega PR exercise involving 20 leading journalists from these two European markets. The commendable initiative was by Chairman and Managing Director of Connaissance de Ceyl

MAS Holdings wins CIMA Top Employers Award

Views - 735 Wednesday, 22 January 2020 02:43

MAS Holdings Ltd. has won the CIMA Top Employers Award 2020. The presentation of the Top 20 CIMA Employers was made on Friday at the CIMA Annual Dinner in the presence of CIMA Global President Amal Ratnayake. See Page 4 for the full list of winners

Tourism Development DG quits within weeks

Views - 7864 Wednesday, 22 January 2020 02:42

Sri Lanka Tourism Development Authority (SLTDA) newly appointed Director General Chandani Werapitiya resigned from the post from last Friday. The resignation comes within weeks of her appointment, and the SLTDA will now advertise the post with an a

Sri Lanka Tourism says new marketing plan ready

Views - 1000 Wednesday, 22 January 2020 02:42

A new long-term marketing plan to boost Sri Lanka Tourism has been finalised for the consideration of the industry and the Government within the next few weeks. Sri Lanka Tou-rism Chairperson Kimarli Fernando said that the new strategy has been fina

Uber sells Indian food delivery arm to Zomato; to continue in SL

Views - 3469 Wednesday, 22 January 2020 02:41

Reuters: Uber has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99% stake in the startup backed by China’s Ant Financial, limiting its exposure to a crowded market where it has struggled to grow. The all-

SriLankan Airlines urged to resume flights to Germany and France

Views - 1550 Wednesday, 22 January 2020 02:41

Tourism and Aviation State Minister Arundika Fernando yesterday revealed that SriLankan Airlines has been requested to consider resuming flights to Germany and France with the option of the Government extending a subsidy. “We have started discussi

SME debt moratorium credit negative for banks: Moody’s

Views - 2357 Tuesday, 21 January 2020 00:20

Moody’s Investor Services yesterday warned that the Government’s debt moratorium for Small and Medium Enterprises (SMEs) would be credit negative for banks and was unlikely to support economic recovery as it would not significantly boost demand.

Govt. tells SMEs to submit moratorium applications by 31 Jan.

Views - 583 Tuesday, 21 January 2020 00:19

The Finance Ministry yesterday called on all Small and Medium Enterprises (SMEs) wishing to avail themselves of the Government’s moratorium to submit their applications to their relevant bank branches before the end of this month.

Task force appointed to take tourism to $ 10 b target

Views - 1251 Tuesday, 21 January 2020 00:18

In a bid to transform tourism into a $ 10 billion industry by 2030, a seven-member top level task force, comprising key State sector stakeholders, has been appointed. The seven-member task force, appointed by Tourism Minister Prasanna Ranatunga, is h

Govt. sticks to estate wage hike; asks firms to come up with new formula

Views - 675 Tuesday, 21 January 2020 00:15

The Government yesterday remained firm on the proposed daily wage hike for estate workers from March and asked the plantation firms to come up with a new formula to offer relief whilst minimising damage to financial viability. The outcome follows the

nCinga-Zilingo deal a game-changer in tech buy-outs

Views - 320 Tuesday, 21 January 2020 00:00

Global technology platform Zilingo has acquired Sri Lanka-based startup nCinga Innovations resulting in cash and stock worth approximately Rs. 2.8 billion ($ 15.5 million) changing hands. This landmark deal was one of the largest Sri Lankan tech buy-

EDB Chairman meets country’s leading apparel exporters

Views - 329 Tuesday, 21 January 2020 00:00

Prabhash Subasinghe, the newly-appointed Chairman of the Sri Lanka Export Development Board (EDB), met with the nation’s leading apparel exporters last Friday (17) at the Board premises. At the outset, Subasinghe expressed his gratitude to the Sri

Speaker to announce final decision on release of CB forensic audit reports today

Views - 147 Tuesday, 21 January 2020 00:00

Speaker Karu Jayasuriya will announce his decision today on the release of the forensic audit reports prepared as part of the investigation into the Central Bank bond scam, officials sources said. Both Government and Opposition MPs have urged the Spe

Zarook new Chairman at Insurance Regulatory Commission

Views - 556 Tuesday, 21 January 2020 00:00

Senior Attorney-at-Law and President’s Counsel, former diplomat Razik Zarook has been appointed as the Chairman of the Insurance Regulatory Commission of Sri Lanka. Previously he had served several State institutions including as Chairman of Bank

Inland Revenue ups collection in 2019 by 21% to Rs. 785 b

Views - 1871 Monday, 20 January 2020 04:20

The Inland Revenue Department has succeeded in collecting Rs. 785 billion in 2019, missing marginally the target of Rs. 799 billion in an economically challenging year. The 2019 achievement versus original target reflects a shortfall of Rs. 14 billi

IRD to enable e-payment

Views - 1640 Monday, 20 January 2020 04:19

The Inland Revenue Department will soon allow e-payments, boosting convenience for taxpayers. Commissioner General Nadun Guruge said this facility will be launched within the next three months whereby the public can pay taxes via credit cards. At p

Today's Columnists

Strategies towards the vision of ‘Clean Country – Green Environment’

Tuesday, 28 January 2020

Sri Lanka is a small island in South Asia. In early times, it was named the Pearl of the Indian Ocean. But what is happening to the pearl now? As a result of urbanisation and increase of population, environmental issues related to solid waste are inc

Has Sri Lanka really understood India’s economic potential?

Tuesday, 28 January 2020

India, a land with a diverse culture and heritage, is no doubt the centre of the South Asia that can take rest of the countries surrounding it to greater economic prosperity within the next few decades. This article is not a technical analysis of Ind

A challenge for President Gotabaya Rajapaksa: The societal, economic and political debt

Tuesday, 28 January 2020

The challenges before President Rajapaksa in balancing and striving towards balancing the societal, economic and political balance sheets is enormous. Although shown separately, these three are interconnected and interdependent, therefore requiring a

Gota’s ‘Viyathmaga’ to the future

Tuesday, 28 January 2020

Any critical assessment of President Gotabaya Rajapaksa must take into consideration the salient characteristics that make him stand out from the run-of-the-mill politicians who had occupied the peaks of power.

Columnists More