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Arthur transfers APL agency rights to Hayleys for over Rs. 1 b

Views - 823 Monday, 13 November 2017 00:46

APL Lanka Ltd, owned by Arthur Senanayake, has transferred the rights of the APL agency to CGM CMA Lanka Ltd, a local joint venture company between CGM CMA France and Hayleys Advantis Ltd, last week.

DIMO Chief optimistic about 2018 Budget

Views - 432 Monday, 13 November 2017 00:44

Diesel and Motor Engineering Plc Chairman and business leader Ranjith Pandithage said yesterday that as an organisation which believed in sustainability, the company was optimistic about the 2018 Budget presented by Finance Minister Mangala Samarawee

Removal of VAT exemption on condominiums a regressive policy

Views - 845 Monday, 13 November 2017 00:42

The removal of 15% VAT exemption on the sale of condominium housing units has been flagged off as a “regressive policy,” with the move likely to have an impact on future developments as well as on the idea of promoting vertical living, according

Banks face Rs. 20 b profit impact unless debt repayment levy passed on to customers

Views - 576 Monday, 13 November 2017 00:39

The 0.02% debt repayment levy on all financial transactions introduced in the 2018 Budget will see banking sector profits impacted by Rs. 20 billion unless it is passed on to the customers.

VAT for commodities, why not for condominiums

Views - 49 Monday, 13 November 2017 00:00

Deputy Secretary to the Treasury S.R. Attygalle on Friday asked participants at the E&Y (Ernst and Young) Budget Forum that if the poor man’s commodities were subject to VAT why was it wrong to ask the same of condominium owners.

Mangala says banks must absorb “Medamulana Tax”

Views - 1806 Saturday, 11 November 2017 00:50

Finance Minister Mangala Samaraweera yesterday offered greater clarity on several of the contentious proposals of Budget 2018, justifying their inclusion as necessary for a progressive natio

Harsha details Govt. borrowing of Rs. 1.56 trillion last year

Views - 822 Saturday, 11 November 2017 00:50

The Government has obtained Rs.1.516 trillion worth debt in 2016, Deputy Minister of National Policies and Economic Affairs Dr. Harsha de Silva confirmed in Parliament yesterday.

Stock market drop; telcos, banks drag after Budget measures

Views - 380 Saturday, 11 November 2017 00:48

Reuters - Shares fell on Friday, weighed down by declines in telecom and banking stocks after the island nation targeted both cash-rich sectors in its 2018 budget to boost revenue.

Rupee firms on remittances; Budget clarity awaited

Views - 12 Saturday, 11 November 2017 00:00

Reuters: The rupee edged higher on Friday on dollar inflows from remittances, while the market awaited more clarity on the Budget policies announced a day earlier, dealers said.

Business confidence crawls up in October

Views - 79 Saturday, 11 November 2017 00:00

The LMD-Nielsen Business Confidence Index (BCI) has recovered marginally following its crash in the previous month to reach 106 basis points in October, the latest edition of business magazine LMD reports.

Central Bank officer files FR petition against AG Department officers: SC fixes for support on 21 No

Views - 383 Saturday, 11 November 2017 00:00

The Supreme Court yesterday (10) fixed for support on 21 November the Fundamental Rights petition filed by a Central Bank officer seeking the Court to prevent him from being questioned by the Attorney General’s Department officers assisting the Bon

Sri Lanka’s human rights record to be reviewed by Universal Periodic Review

Views - 47 Saturday, 11 November 2017 00:00

GENEVA: Sri Lanka’s human rights record will be examined by the UN Human Rights Council’s Universal Periodic Review (UPR) Working Group for the third time on Wednesday, 15 November 2017, in a meeting that will be webcast live.

Govt. takes tough road with Budget: Eran

Views - 613 Saturday, 11 November 2017 00:00

State Minister of Finance Eran Wickramaratne yesterday staunchly defended the latest Budget, which proposed sweeping changes, insisting the Government was being brave by taking the tough road and pushing for liberalisation even at potential political

Contempt charge on Dr. Padeniya: CA fixes for order on 6 December

Views - 140 Saturday, 11 November 2017 00:00

The Court of Appeal yesterday (10) fixed for order on 6 December in respect of the alleged offence of contempt of Court against the Government Medical Officers’ Association (GMOA) President Dr. Anuruddha Padeniya. The Bench comprised Justices L.T.B

President reiterates his pledge to protect war heroes from foreign tribunals

Views - 217 Saturday, 11 November 2017 00:00

President Maithripala Sirisena reiterating his pledge to protect war heroes from foreign tribunals said if there are any errant Army personnel, they will be produced before Sri Lankan courts and tried according to the existing law of the country.

Impact of 2018 Budget on key listed sectors

Views - 1100 Friday, 10 November 2017 00:00

The 2018 budget proposals (i.e. Second Reading of the Appropriation Bill) were presented to the parliament on 9 November 2017 by Minister of Finance and Mass Media Mangala Samaraweera.

Budget for all

Views - 2364 Friday, 10 November 2017 00:00

Delivering on his promise to keep the Budget speech concise, Finance Minister Mangala Samaraweera yesterday unveiled a slew of proposals to liberalise restrictive laws, promote exports, expand tourism, maintain fiscal

Best of experts at Daily FT-Colombo Uni. MBA Alumni Budget Forum on Monday

Views - 506 Friday, 10 November 2017 00:00

The best experts from both multilateral lending organisations and the local and foreign private sector will share key insights to the 2018 Budget at the Daily FT-Colombo University MBA Alumni Association organised forum on

Budget 2018 - Full speech

Views - 620 Thursday, 9 November 2017 20:34

Click to read the full text of the Budget Speech 2018 delivered in Parliament today.

Interbrand’s inaugural Best Sri Lankan Brands in association with the Daily FT

Views - 351 Thursday, 9 November 2017 00:10

Interbrand, the world’s largest and most influential brand consultancy, has announced it has formed an official media partnership with the Daily FT, Sri Lanka’s leading business newspaper.

Mangala to present Sri Lanka’s 72nd Budget today

Views - 307 Thursday, 9 November 2017 00:05

The 72nd Budget of independent Sri Lanka will be moved in Parliament this afternoon.

Govt. rushes relief before Budget

Views - 1934 Thursday, 9 November 2017 00:00

On the eve of Budget 2018, Finance Minister Mangala Samaraweera rolled out a pre-budget relief package that will cost the Government an estimated Rs. 1.5 billion each month to slash taxes on six essential goods.

Govt. to amend Microfinance Act to tackle rural indebtedness

Views - 417 Thursday, 9 November 2017 00:00

Increased indebtedness in rural communities, particularly in the North and North Central provinces, has prompted the Government to consider amending the Microfinance Act to reduce and regulate credit-giving institutions.

Tourist arrivals up just 1% in Oct.

Views - 355 Thursday, 9 November 2017 00:00

Confirming the challenging environment for the leisure industry, tourist arrivals to Sri Lanka in October have risen by only 1% to 152,429

Fuel tanker Neverska Lady arrives

Views - 449 Thursday, 9 November 2017 00:00

The much anticipated Fuel tanker ‘Neveska Lady’ last night entered the Sri Lankan territorial waters, a move which is likely to lift hopes of thousands of people hit by the shortage for nearly a week.

Modi, Maithri in phone pow-wow over petrol

Views - 746 Thursday, 9 November 2017 00:00

India’s Prime Minister Narendra Modi had assured Sri Lankan President Maithripala Sirisena of all possible assistance to resolve the fuel crisis in the country.

Daily FT launches Pre-Budget Sentiment Poll

Views - 303 Wednesday, 8 November 2017 00:20

To assess the mood of the people, especially the business sector and professionals, the Daily FT has launched a unique ‘Pre Budget Sentiment Poll’ accessible via

Sri Lanka must ‘walk its talk’ to achieve hub status: Germany envoy

Views - 910 Wednesday, 8 November 2017 00:10

German Ambassador to Sri Lanka Jorn Rohde opines that Sri Lanka is on the right path with its policy strategy, but it is high time for the nation and its leaders to ‘walk the talk’.

Dialog consolidates performance with strong 3Q

Views - 332 Wednesday, 8 November 2017 00:08

Dialog Axiata Plc said yesterday that the Group consolidated its performance with a strong third quarter ended on 30 September 2017.

Mixed first half for Hayleys

Views - 605 Wednesday, 8 November 2017 00:07

Fuelledby topline growth across all of its key business segments, Hayleys PLC has posted a 20% year-on-year increase in turnover up to Rs. 62.4billion.

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

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