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No liquor licenses issued to current MPs, says Fin. Min.

Views - 116 Friday, 6 September 2019 00:14

The Finance Ministry yesterday denied that alcohol licenses had been issued to current parliamentarians who were appointed after 2015. Although liquor licenses were issued to the owners of hotels approved by the Tourist Board after 2015 with the i

Rs. 6 b in assets linked to Easter Sunday attack suspects found: Police

Views - 250 Friday, 6 September 2019 00:13

Police have frozen 100 accounts of 41 suspects who have been arrested in connection to the Easter Sunday attacks, an official said yesterday.

CoPE summons ex-People’s Bank Chairman before Privileges Committee

Views - 746 Friday, 6 September 2019 00:12

The Committee on Public Enterprises (CoPE) yesterday decided to summon former People’s Bank Chairman Hemasiri Fernando and Finance Ministry Additional Secretary R. Semasinghe before the Parliamentary Privileges Committee, for providing the bank’s

SLFP to nominate presidential candidate

Views - 1285 Friday, 6 September 2019 00:08

The Sri Lanka Freedom Party (SLFP) has decided it will be fielding a candidate for the upcoming Presidential Elections, an official said yesterday. SLFP MP Weerakumara Dissanayake told reporters that SLFP General Secretary MP Dayasiri Jayasekara has

Sri Lanka Tourism launches one-day license renewal for service providers

Views - 162 Thursday, 5 September 2019 01:58

The Sri Lanka Tourism Development Authority (SLTDA) yesterday announced the launch of one-day license renewal to tourism service providers.

Global payment network Visa partners with Cyber Security Summit

Views - 301 Thursday, 5 September 2019 01:56

Visa, the global leader in payments technology, has signed on as a strategic partner for Sri Lanka’s seventh annual Cyber Security Summit on 24 and 25 September at Cinnamon Grand. The summit consists of three key events: Cyber Security Day Confere

Govt. will present VoA: Govt.

Views - 326 Thursday, 5 September 2019 01:54

Prime Minister Ranil Wickremesinghe yesterday confirmed to Parliament the Government will not follow the traditional Budget program but will present a Vote on Account (VoA) that will cover expenses in 2020. Responding to a question for oral answer,

Decision to dissolve P’ment after Presidential Election rests with House: PM

Views - 913 Thursday, 5 September 2019 01:54

Prime Minister Ranil Wickremesinghe yesterday said any decision to dissolve Parliament after the Presidential Elections expected at the end of the year should be taken by the House membership as that power has been removed from the Executive by the 1

Govt. loses Rs. 4 b over failure to acquire license system

Views - 372 Thursday, 5 September 2019 01:52

Failure to acquire the process followed to issue driving licenses under the Department of Motor Traffic has led the Government to incur a loss of Rs. 4 billion, the Committee on Public Accounts (CoPA) was told yesterday. CoPA Chairman and Opposition

New SOE to run Lotus Tower

Views - 586 Thursday, 5 September 2019 01:52

The Cabinet of Ministers yesterday approved a proposal to establish a new State Owned Enterprise (SOE) to commercialise the almost completed Lotus Tower and handle its financial operations. The Cabinet paper presented by President Maithripala Siris

Rupee weakens to over 7-month closing low as foreigners exit bonds

Views - 280 Thursday, 5 September 2019 01:51

Reuters: The rupee fell to its lowest close in more than seven months on Wednesday, due to continued foreign fund outflows from Government securities after a surprise rate cut last month. Foreign investors sold net Rs. 12.3 billion worth of Governme

Cinnamon spearheads destination marketing in Sri Lanka

Views - 692 Thursday, 5 September 2019 00:00

In just four months following the horrifying terror attacks that threatened to derail the fast flourishing tourism industry of Sri Lanka, a strong recovery strategy implemented by key industry players such as Cinnamon Hotels and Resorts has enabled t

People’s Bank privatisation claims baseless, says Fin. Min.

Views - 323 Wednesday, 4 September 2019 00:30

Ahead of the People’s Bank (Amendment) Bill being taken up in Parliament today to incorporate committee stage changes, the Finance Ministry insisted the new legislation was not an attempt to privatise the Bank, and any statements made by detractors

More focus on PM than President in next Govt.: Sirisena

Views - 488 Wednesday, 4 September 2019 00:29

President Maithripala Sirisena yesterday rallied his party followers with pledges to establish a Sri Lanka Freedom Party (SLFP)-led Government in 2020, as under the 19th Amendment more powers have been devolved to the Prime Minister, and made no ment

Committed to abolishing Executive Presidency: PM

Views - 382 Wednesday, 4 September 2019 00:28

Prime Minister Ranil Wickremesinghe yesterday said he remained committed to abolishing the Executive Presidency so its powers cannot be abused with impunity, and pledged to continue upholding democracy.

Sinhaputhra Finance says working with CB to meet regulatory needs

Views - 821 Wednesday, 4 September 2019 00:25

Sinhaputhra Finance PLC (SFPLC) yesterday said the Central Bank was considering its capital augmentation plans, and would submit them to the consideration of the Monetary Board, to fulfil regulatory requirements and foster continued growth.

Two phases of Central Expressway at funding crossroads

Views - 1954 Wednesday, 4 September 2019 00:24

Two phases of the Central Expressway project to expedite traffic between Colombo and Kandy have reached a crossroads with no funds being released to continue the projects, a top official said.

AmCham calls on Govt. to approve $ 480 m MCC grant

Views - 249 Wednesday, 4 September 2019 00:20

The American Chamber of Commerce (AmCham) in Sri Lanka yesterday urged the Government to consider approving the Millennium Challenge Corporation (MCC) Compact, pointing out the projects under the $480 million grant would improve infrastructure and en

Rupee weakens amid fund outflows; stocks edge up

Views - 276 Wednesday, 4 September 2019 00:15

Reuters: The rupee closed weaker on Tuesday, hovering near a seven-month closing low hit last week, as continued foreign fund outflows from government securities after a surprise rate cut last month weighed on the currency. Foreign investors sold ne

AG tenders dossier on Mahendran’s extradition to Foreign and Defence Ministries

Views - 286 Tuesday, 3 September 2019 00:55

The Attorney General’s Department yesterday tendered a dossier pertaining to the extradition request for Arjuna Mahendran to the Ministry of Foreign Affairs to be forwarded to the Government of Singapore. The dossier containing 21,000 pages inclusi

SC tells President PC polls cannot be held

Views - 390 Tuesday, 3 September 2019 00:54

The Supreme Court has informed President Maithripala Sirisena that the Provincial Council Elections cannot be held without the delimitation report being completed and passed in Parliament. The delimitation report which demarcates provincial bounda

PSC may record President’s testimony in location outside Parliament

Views - 132 Tuesday, 3 September 2019 00:53

Members of the Parliamentary Select Committee (PSC) probing the Easter Sunday terror attacks yesterday discussed the possibility of obtaining the testimony of President Maithripala Sirisena in a location outside Parliament. The PSC members agreed to

Half of new expressways to be done by year end: RDA

Views - 2136 Tuesday, 3 September 2019 00:52

Half of the ongoing expressway work will be completed before the end of this year, whilst the Road Development Authority (RDA) is firming up moves to expedite the rest, a top official said. “At present we are developing about 200 km of expressways

Port Access Elevated Highway begins construction next week

Views - 1688 Tuesday, 3 September 2019 00:51

The $ 300 million Asian Development Bank (ADB) funded Port Access Elevated Highway will commence construction work next week, a top official confirmed. “The construction work of the Port Access Elevated Highway linking the Kelaniya new bridge with

Rupee weakens amid fund outflows; stocks down

Views - 394 Tuesday, 3 September 2019 00:49

Reuters: The rupee closed weaker yesterday, hovering near a seven-month closing low hit last week, as foreign fund outflows after the Central Bank’s rate cut weighed on the currency. Foreign investors sold net Rs. 12.3 billion worth of government

PM holds meetings, signs MoUs in Malé

Views - 164 Tuesday, 3 September 2019 00:45

Prime Minister Ranil Wickremesinghe yesterday met Maldivian President Ibrahim Mohamed Solih as he kicked off his official visit to the country, holding discussions and signing several Memorandums of Understanding (MoU). The Maldives and Sri Lanka ex

Proposed amendments to CSE Listing Rules to cover broader base of corporates, improve IPO process

Views - 156 Tuesday, 3 September 2019 00:10

The Colombo Stock Exchange (CSE), in consultation with the Securities and Exchange Commission of Sri Lanka (SEC), is proposing to revise the regulatory framework governing the initial listing of shares on the CSE. The exercise is aimed at broadening

Parliament to approve pension deduction for SC/CA judges

Views - 521 Monday, 2 September 2019 01:50

Parliament will take up a resolution to recover the pension gratuity of Judges of the Superior Courts on an instalment basis, after the Attorney General pointed out that such a procedure does not violate the Constitution. The opinion of the AG was so

Microfinance regulatory body to be established

Views - 2091 Monday, 2 September 2019 01:48

Cabinet has approved a proposal presented by Finance Minister Mangala Samaraweera to establish the Credit Regulatory Commission as an autonomous body that will repeal the existing Microfinance Act. The Government Infor-mation Department, in a short

Timely decisions essential for Colombo Port growth: Sagala

Views - 312 Monday, 2 September 2019 01:46

Ports and Shipping Minister Sagala Ratnayaka yesterday said timely decisions were essential for the sustainable growth of the Colombo Port, and was regretful that delays in finalising the East Container Terminal (ECT) had threatened the competitivene

Today's Columnists

Industry 4.0, disruptive technology and MAS Matrix: An example for way forward in Sri Lanka

Monday, 16 September 2019

Technology has always been disruptive. When a new technology is introduced, it changes the way the humankind lives, behaves, earns, interacts and communicates. Some 10,000 years ago, when agriculture and animal breeding were domesticated through the

Radically reinvented reality: Relevance to Sri Lanka

Monday, 16 September 2019

I am delighted to be involved in the National HR Conference 2019, the largest HR event in South Asia. This time it is on the theme ‘Radically Reinvented Reality’. We need to take another look at the way we act institutionally and nationally, in u

Boeing in MAX-imum trouble

Monday, 16 September 2019

Boeing, America’s mighty aircraft manufacturer, is in deep trouble. The controversy surrounding the best-selling 737 MAX has refused to go away. The Federal Aviation Administration, the US aviation regulator, has spent over 110,000 hours addressing

Gotabaya Rajapaksa at Viyathmaga: Vision with an authoritarian zeal!

Monday, 16 September 2019

Gotabaya Rajapaksa has unveiled his national strategy or vision as a presidential candidate with an authoritarian zeal. This is clear from his Viyathmaga speech. He should be commended however for his fairly clear expression of views and objectives.

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