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Performance-Based Budgeting system for 2019

Views - 1333 Thursday, 12 July 2018 01:04

The Cabinet this week gave approval to prepare the 2019 National Budget under the medium term fiscal frame work (MTFF) by adopting a Performance-Based Budgeting (PBB) approach, with aims of increasing the Government revenue to 17% of GDP by 2021, Cab


Fundamentals strengthening, growth remains key: First Capital Research Mid-Year Economic Outlook

Views - 437 Thursday, 12 July 2018 00:00

First Capital Research expected the yield curve to be upward trending 1Q-3Q2018 with an acceleration in the uptrend towards 3Q amidst bunching of debt maturities during 3Q2018. The unexpected local polls victory by the opposition resulted in an early


CB warns against dollar hoarding as rupee falls

Views - 229 Thursday, 12 July 2018 00:00

Reuters: The Central Bank is concerned about the dollar hoarding and market manipulation that’s exacerbating the rupee’s weakness and has the tools to correct any misalignment in the exchange rate, its Governor told Reuters.


Biz confidence stays subdued

Views - 368 Wednesday, 11 July 2018 00:11

According to the latest edition of business magazine LMD, the LMD-Nielsen Business Confidence Index (BCI) declined


SL-Thai FTA talks to begin this week

Views - 268 Wednesday, 11 July 2018 00:10

Thai Prime Minister General Prayut Chan-o-cha will arrive in Sri Lanka tomorrow for a two-day State visit which will also


Barely 2% of workers entrepreneurs: Eran

Views - 421 Wednesday, 11 July 2018 00:10

Issuing a clarion call for liberalisation, State Minister of Finance Eran Wickramaratne yesterday encouraged the private sector


Arugam Bay shines in Lonely Planet’s Best in Asia list 2018

Views - 555 Wednesday, 11 July 2018 00:01

For this third annual Best in Asia list, Lonely Planet’s in-house Asia experts have named “eclectic” and “vibrant” Busan


Coalition better now with SLFP gaining ground and Rajapaksa return ruled out: Mahinda Samarasinghe

Views - 547 Wednesday, 11 July 2018 00:01

Ports and Shipping Minister Mahinda Samarasinghe, one of four SLFPers in a core group appointed to foster the Coalition


CIFC laws before Cabinet in two months: PM

Views - 957 Wednesday, 11 July 2018 00:00

The Colombo International Financial City (CIFC) project is expected to take a step forward in the next two months when


Swarnamahal depositors get 10% repayment

Views - 396 Wednesday, 11 July 2018 00:00


Fuel prices increased

Views - 327 Wednesday, 11 July 2018 00:00

Following a meeting with President Maithripala Sirisena, a decision was made to increase fuel prices with effect from last midnight.


Lazard Asia, MTI Consulting to be appointed transaction advisor to sell Hilton and Grand Hyatt hotel

Views - 1003 Wednesday, 11 July 2018 00:00

The National Policies and Economic Affairs Ministry has announced that the Cabinet Appointed Procurement Committee


COMBank goes for Rs. 10 b Basel III compliant debentures

Views - 304 Wednesday, 11 July 2018 00:00

Commercial Bank Plc has decided to raise Rs. 10 billion via Basel III compliant Tier 2 listed rated unsecured subordinated redeemable debentures.


Empowering the future generation with cyber security insights

Views - 319 Wednesday, 11 July 2018 00:00

In an effort to facilitate the growing need for cyber security specialists in Sri Lanka, the Centre for Integrated Communication


Sampath Bank continues dominance at World Finance Banking Awards

Views - 479 Tuesday, 10 July 2018 00:43

Sampath Bank was recognised as Sri Lanka’s ‘Best Retail Bank’ and ‘Best Commercial Bank’ for the fifth consecutive year at the prestigious World Finance Banking Awards awarded by UK based World Finance magazine. Continuing to win accolades


Building liveable cities a challenge to all leaders: PM

Views - 263 Tuesday, 10 July 2018 00:37

Building liveable and sustainable cities calls for greater integration with global chains, strengthening local governments and ensuring social inclusivity, Prime Minister Ranil Wickremesinghe said yesterday. Delivering the keynote address at the Worl


Qatar Airways adds additional capacity to Colombo

Views - 1070 Tuesday, 10 July 2018 00:36

Qatar Airways has deployed the state-of-the-art A350 aircraft to Sri Lanka’s capital city, Colombo, commencing 1 July, boosting capacity in tandem with growing demand. It said the new aircraft will increase the award-winning airline’s daily capa


Lankan-born Michael Ondaatje’s The English Patient wins public poll of best Man Booker in 50 years

Views - 233 Tuesday, 10 July 2018 00:36

The English Patient,” the wartime love story by Sri Lankan-born Canadian Michael Ondaatje, won the Golden Man Booker Prize in London on Sunday night, the New York Times reported. The one-off award, voted for by the public, commemorates the 50th an


More bidders cry foul over tender process for second Kerawalapitiya LNG power plant

Views - 492 Tuesday, 10 July 2018 00:35

Bidders involved in the tender process for the second 300 MW LNG Plant in Kerawalapitiya are crying foul over the procurement process followed, with changes to the Request for proposal during the tender period, and withholding of the proper specifica


Govt. gets aggressive on ports as pivot

Views - 1470 Tuesday, 10 July 2018 00:32

By Nisthar Cassim Hot on the heels of concluding the landmark revamp of Hambantota Port, the Government is unleashing a slew of initiatives to develop the rest of the Ports in the country as a pivot to strengthen the island’s hub status and boost t


First female Muslim mayor in England hails from political family in Sri Lanka

Views - 9781 Tuesday, 10 July 2018 00:23

The first thing you notice in Kareema Marikar’s personality is her bubbly nature, infectious smile and down-to-earth simplicity. Despite creating history as the first female Muslim mayor in England, she is not yet ready to rest on her laurels, judg


Shipping Minister to power more ports development post-Hambantota deal

Views - 279 Tuesday, 10 July 2018 00:00

Ports and Shipping Minister Mahinda Samarasinghe, in a recent interview with the Daily FT, recapped the success of concluding the mega-lease deal of Hambantota Port, which he identified as critical, and outlined plans for the development of other p


Navin discusses plantation issues and development with ADB

Views - 195 Tuesday, 10 July 2018 00:00

Officials of the Asian Development Bank met Minister of Plantation Industries Navin Dissanayake and informed him of their commitment to fund the rehabilitation and development of the tea sector of the plantation industry. The Minister informed the d


CB downgrades 2018 growth rate

Views - 1130 Monday, 9 July 2018 00:27

Moderate first quarter performance has prompted the Central Bank to revise down the growth target for 2018 to 4%-4.5% from an initial forecast of 4.5%-5% with its Chief Dr. Indrajit Coomaraswamy cautioning against reducing interest rates to spur grow


Earnings of listed corporates gain in March quarter

Views - 784 Monday, 9 July 2018 00:22

Combined earnings of all listed companies has seen health gain in the quarter ended on 31 March, reflecting the resilience on the part of most corporates.


OPEC Fund extends $ 50 m boost for technological education

Views - 205 Monday, 9 July 2018 00:20

The OPEC Fund for International Development (OFID) is extending $ 50 million for the implementation of a technological education development program in Sri Lanka.


Chief Negotiator reassures public regarding FTA negotiations

Views - 432 Monday, 9 July 2018 00:19

Ministry of Development Strategies and International Trade’s Chief Negotiator of the National Negotiation Committee K. J. Weerasinghe has reiterated that the Government will ensure Sri Lanka’s national interest when pursuing Free Trade Agreements


ADB provides $ 9.5 m grant for women entrepreneurs

Views - 243 Monday, 9 July 2018 00:17

The Asian Development Bank (ADB) has provided a grant of $ 9.5 million through Women Entrepreneurs Finance Initiative (We–Fi) to support the ongoing Small and Medium Enterprises (SMEs) line of credit, the Finance Ministry said in a statement yester


ETI gets $ 11 m more, total by end July

Views - 409 Monday, 9 July 2018 00:16

Edirisinghe Trust Investments (ETI Finance) has received an additional $ 11 million of the $ 43 million that was earmarked to be utilised to repay depositors of the troubled finance company, the Central Bank said.


Sampath Bank to list $ 100 m debentures on S’pore Exchange

Views - 381 Monday, 9 July 2018 00:14

Sampath Bank has decided to issue a Basel III compliant Tier 2 capital qualifying $ 100 million denominated debentures to be quoted on the Singapore Exchange Ltd.


Today's Columnists

No other country can better understand the preciousness of free trade than SL

Thursday, 19 July 2018

The year 2018 marks the 40th anniversary of China’s reform and opening-up and also the 17th anniversary of China’ accession to the World Trade Organization (WTO). In 2001, China acceded to the WTO, which marked a new historic stage of reform and


Development of national housing and Employees’ Provident Fund

Thursday, 19 July 2018

‘Singapore’ has become a buzzword in the media circles today. Media speak is centred round many issues. Extradition of the fugitive Central Bank Governor appointed to the post on a recommendation by our PM, now missing and reportedly taken refuge


Sri Lanka stepping up its pursuit of trade-led growth

Wednesday, 18 July 2018

“We were a trading nation since the era of ancient kings,” Prime Minister Ranil Wickremesinghe reminded Parliament


To hang or not to hang!

Tuesday, 17 July 2018

President Maithripala Sirisena dropped a bombshell out of the blues last week, sans all ‘maître’ (loving-kindness) when he launched a coup de main on drug offenders. He threatened to use his powers to place his signature to execute the death sen


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