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Sri Lanka gets optimistic on apparel

Views - 445 Saturday, 16 September 2017 00:29

Sri Lanka is not hiding its optimism for its apparel industry in the post-GSP Plus era – especially with a further $ 400 m revenue from exports now in the pipeline for apparel.

Rupee ends higher on inward remittances

Views - 192 Saturday, 16 September 2017 00:18

Reuters - The rupee ended firmer on Friday as inward remittances and exporter dollar sales surpassed mild dollar demand from importers, dealers said.

Asia Securities executes largest listed company buyout in CSE history

Views - 874 Saturday, 16 September 2017 00:15

Asia Securities arranged and executed the country’s largest acquisition of a controlling stake in a listed company in history yesterday.

N. Korea fires missile over Japan that lands far out in the Pacific

Views - 77 Saturday, 16 September 2017 00:11

Seoul/Tokyo (Reuters): North Korea fired a missile that flew over Japan’s northern Hokkaido far out into the Pacific Ocean on Friday, South Korean and Japanese officials said, further ratcheting up tensions after Pyongyang’s recent test of its mo

Govt. ready for great growth leap: PM

Views - 811 Saturday, 16 September 2017 00:06

Hailing the Board of Investment (BOI) celebrating four decades, Prime Minister Ranil Wickremesinghe yesterday said his Government together with President Sirisena was preparing for a great leap forward in investment and exports to catapult Sri Lanka

Perpetual CEO denies knowledge of ‘powerful friends’

Views - 984 Friday, 15 September 2017 00:10

Claiming ignorance on the identity of the “powerful friends” who are said to have relayed confidential, price-sensitive information to former Director Arjun Aloysius,

President emphasises need for national policy on highways

Views - 215 Friday, 15 September 2017 00:00

President Maithripala Sirisena yesterday emphasised the need for a national highways policy that does not change from time to time when the construction of expressways is being carried out.

Brandix named Sri Lanka’s Exporter of the Year

Views - 567 Friday, 15 September 2017 00:00

The Brandix Group was yesterday declared Sri Lanka’s No. 1 exporter across all industries in 2016 at the Presidential Export Awards

Talks to tax thriving informal tourism sector

Views - 493 Friday, 15 September 2017 00:00

To mitigate disruptions by the rise of digital platforms and startups in the hospitality industry, the tourism authorities are now having discussions with booking agencies to introduce a mechanism to collect taxes from the informal sector and standar

Hayleys share price gains on mega Singer deal

Views - 770 Friday, 15 September 2017 00:00

The share price of export rich diversified blue chip Hayleys Plc gained sharply yesterday with investors rating its prospects following the planned mega acquisition of Singer Sri Lanka Plc.

High food taxes driving cost of living: Advocata Institute

Views - 547 Friday, 15 September 2017 00:00

Sri Lanka has high food costs. Consumer prices are 25.22% higher (and grocery prices 34.48% higher) than in India according to data gathered for August by Numbeo, a crowd-sourced database.

Designer development Budget!

Views - 1451 Thursday, 14 September 2017 00:28

As the days tick down for Budget 2018, Finance Minister Mangala Samaraweera yesterday pledged to present an overarching policy framework that would concentrate on greater liberalisation and reforms as well as promote entrepreneurship, expand key sect

EU praises progress but stresses many areas of reform yet to be delivered

Views - 313 Thursday, 14 September 2017 00:27

The European Union yesterday praised the Sri Lankan Government for the progress made in advancing human rights, labour and environmental standards, but stressed that there were still many areas where reform had yet to be delivered.

CSE and SEC to host next Invest Sri Lanka Forum in New York

Views - 256 Thursday, 14 September 2017 00:26

The Invest Sri Lanka Investor Forum organised by the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) in association with CSE member firms and leading listed companies will be held on 16 October at the Sofite

Hayleys to buy Singer Sri Lanka control for Rs. 11 b in biggest ever acquisition

Views - 9659 Thursday, 14 September 2017 00:26

Export-rich diversified blue chip Hayleys Plc yesterday announced the country’s biggest ever acquisition - control of consumer durables giant Singer Sri Lanka Plc for Rs. 11 billion.

Bond Commission concedes Aloysius cannot be compelled to testify

Views - 451 Thursday, 14 September 2017 00:19

The Presidential Commission of Inquiry (PCoI) looking into the controversial Treasury bond issuance yesterday conceded that Perpetual Treasuries Ltd. (PTL) former Director Arjun Aloysius cannot be compelled to testify before the commission if he refu

Sri Lanka’s Electronic National ID carries serious risks

Views - 624 Thursday, 14 September 2017 00:00

According to a news report, the Department for Registration of Persons (DRP) is to issue a new ‘smart ID’ within the next two months.

Young leaders show the way for 2018 Budget

Views - 1073 Thursday, 14 September 2017 00:00

Representatives of key industries yesterday presented their main proposals for consideration at the 2018 pre- Budget forum organised by the Daily FT and the Colombo University MBA Alumni Association with Standard Chartered Bank as the Strategic Partn

Govt. plans 16% increase in borrowing in 2018

Views - 152 Thursday, 14 September 2017 00:00

Reuters: Sri Lanka plans to increase its overall government borrowing by 16% in 2018 to Rs. 1.8 trillion ($ 12 billion), a document showed on Wednesday.

Infrastructure-sharing entity to speed up broadband

Views - 823 Wednesday, 13 September 2017 00:10

The Government yesterday confirmed it would set up an infrastructure-sharing entity which will be brought under the purview of the Telecommunication and Digital Infrastructure Ministry to speed up digitisation for envisaged economic growth.

Retail industry key to economic revival: Dr. Supachai Panitchpakdi

Views - 204 Wednesday, 13 September 2017 00:00

Thailand’s former Deputy Prime Minister Dr. Supachai Panitchpakdi yesterday declared that the retail industry was key to the revival of the economy.

National Economic Council meets for the first time

Views - 342 Wednesday, 13 September 2017 00:00

The National Economic Council (NEC) appointed by the President Maithripala Sirisena to take decisions on strengthening national economy met for the first time yesterday at the Presidential Secretariat in Colombo.

Chinese envoy hints at $ 100 m annual donation to SL from 2018-2020

Views - 398 Wednesday, 13 September 2017 00:00

China yesterday reiterated its commitment to further bilateral ties with Sri Lanka and donate more to support innovation and technology development in the island in order to enable it to be an information and telecommunication hub in South Asia.

Dialog to ring more digital financial services with Rs. 1 b buy of 80% stake in finance company

Views - 1451 Wednesday, 13 September 2017 00:00

Dialog Axiata Plc, Sri Lanka’s premier connectivity provider, yesterday stepped up its foray into digital financial services with the acquisition of 80.34% stake in Colombo Trust Finance Plc (CTF) for Rs. 1.072 billion.

CID visits Aloysius’ residence, summoned to commission today

Views - 557 Wednesday, 13 September 2017 00:00

Criminal Investigations Department (CID) officials yesterday called on Perpetual Treasuries Ltd. (PTL) former Director Arjun Aloysius at his private residence in order to secure bank details he had failed to produce at the Presidential Commission of

Govt. to make fresh appeal for Google Loon

Views - 293 Wednesday, 13 September 2017 00:00

Telecommunication and Digital Infrastructure Minister Harin Fernando said Sri Lanka will make a fresh application for the Google Loon Project initiated almost two years ago to determine this innovation as a viable project for increasing the country

Judiciary must deliver on time: Eran

Views - 886 Tuesday, 12 September 2017 00:11

Acknowledging shortcomings in delivering justice to meet public expectation, the State Minister of Finance Eran Wickramaratne yesterday provided reassurance that the Government was still committed to establishing a rules-based society.

Reinsurance keeps Lankan insurers afloat amid floods, says Fitch

Views - 227 Tuesday, 12 September 2017 00:10

Most Sri Lankan non-life insurers should be able to absorb near-term volatility and the effects of adverse weather-related events given the extensive use of reinsurance, Fitch Ratings disclosed yesterday.

Standard Chartered Bank backs unique 2018 Pre-Budget Forum tomorrow

Views - 422 Tuesday, 12 September 2017 00:10

Today's Columnists

Sustainable tourism – New profit for businesses

Tuesday, 26 September 2017

World Tourism Day has been celebrated since 1980 on 27 September, the day in which the Statutes of the World Tourism Organization (UNWTO) entered into force.

Do economic sanctions matter to Iran?

Tuesday, 26 September 2017

Economic sanctions are not a new phenomenon to Iran. It has been 38 years since the Iranian revolution (1979) took place. Since then, the United States, European Union and some other countries have been imposing

It is an uphill task for the Govt. to attain the envisaged targets

Monday, 25 September 2017

In Part 1 of the article series on the Government’s Vision 2025 published last week, it was pointed out that the present vision document was just the fourth of such visions pronounced by the Government during the last two year period.

Women for tourism

Monday, 25 September 2017

Tourism is one of the world’s largest and fastest growing industries. In many countries it acts as an engine for development through foreign exchange earnings and the creation of direct and indirect employment.

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