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Mobs destroy SL’s largest pasta factory

Views - 26522 Wednesday, 15 May 2019 03:21

Sri Lanka’s largest pasta manufacturing facility, Diamond Pasta Limited, which is located in Minuwangoda, was destroyed during the violence on Monday night. Speaking to the Daily FT, the company’s management stated that though Police was called

IMF program back on track

Views - 181 Wednesday, 15 May 2019 03:19

The Executive Board of the International Monetary Fund (IMF) has approved the resumption of the $1.5 billion Extended Fund Facility (EFF) and the extension of the program by one year. Releasing a statement the IMF said the program will run until 2 Ju

UN concerned over communal violence; calls for urgent action

Views - 207 Wednesday, 15 May 2019 03:18

The United Nations in Sri Lanka in a statement yesterday said it was concerned about emerging incidents of communal violence and tension in the aftermath of the Easter Sunday terrorist attacks. The United Nations called on the Government and the sec

ComBank deposits surpass landmark Rs. 1 t in Q1 2019

Views - 709 Wednesday, 15 May 2019 03:17

The Commercial Bank Group, comprising of the Commercial Bank of Ceylon PLC, its subsidiaries and associates, has reported gross income of Rs. 35.501 billion for the three months ended March 2019, an improvement of 12.86% over the first quarter of 201

DFCC maintains profitability under volatile market conditions

Views - 173 Wednesday, 15 May 2019 02:50

DFCC Bank said yesterday its core business posted a profit before tax of Rs. 1,585 million and profit after tax of Rs. 1,124 million for the quarter ended 31 March compared to profit before tax of Rs. 1,243 million and profit after tax of Rs. 1,034 m

NDB ups 1Q pre-tax profit by 9% to Rs. 3 b

Views - 179 Wednesday, 15 May 2019 02:43

The National Development Bank PLC said yesterday it has recorded a pre-tax profit of Rs, 3 billion for Q1 2019 ended 31 March, a growth of 9% over Q1 2018. The bank’s profit after tax of Rs. 1.4 billion was however, a 12% decline over Rs. 1.6 bill

Kishu sheds Tourism Development role to focus fully on promotion

Views - 717 Wednesday, 15 May 2019 02:11

Kishu Gomes is to step down as the Chairman of Sri Lanka Tourism Development Authority (SLTDA) in order to fully focus on re-building Sri Lanka’s tourism brand in his role as the Chairman of Sri Lanka Tourism Promotion Board (SLTPB). Gomes has been

Banking on tourism revival

Views - 1100 Tuesday, 14 May 2019 00:22

A more convinced and supportive effort by banks to help Easter Sunday terror attacks battered travel and tourism industry is likely following a top-level progressive meeting yesterday chaired by Finance Minister Mangala Samaraweera. Given the seriou

State of governance: No Cabinet meeting today as Sirisena goes overseas

Views - 1766 Tuesday, 14 May 2019 00:19

Concerns over state of governance were raised yesterday in political circles with President Maithripala Sirisena leaving to China on an official visit leading to the cancellation of today’s Cabinet meeting, putting off key decisions when the countr

Fullest powers given to security forces: PM

Views - 297 Tuesday, 14 May 2019 00:17

Prime Minister Ranil Wickremesinghe yesterday said powers had been given to armed forces and Police to take strong measures against anyone disturbing the peace and appealed to the public to stop behaving in ways that would destabilise the country. Wi

Karu appeals for peace

Views - 237 Tuesday, 14 May 2019 00:16

Speaker of Parliament Karu Jayasuriya yesterday appealed for peace as well as action by President Maithripala Sirisena and Premier Ranil Wickremesinghe to stem communal violence.

Ruwan Acting Defence Minister

Views - 283 Tuesday, 14 May 2019 00:10

State Minister of Defence Ruwan Wijewardane has been appointed as the Acting Minister of Defence until President Maithripala returns to the country from his official visit to China, the Government Information Department said yesterday.

Industrial production up 2.2% in 1Q

Views - 97 Tuesday, 14 May 2019 00:00

The industrial production of the manufacturing sector for the first quarter of 2019 has increased by 2.2% compared to the same quarter in 2018, the Census and Statistics Department said yesterday, releasing the latest Index of Industrial Production (

Stocks, rupee extend falls in dull trade

Views - 317 Tuesday, 14 May 2019 00:00

Reuters: Sri Lankan shares fell yesterday for an eight straight session, closing at their lowest in more than six-and-a-half years, and the rupee slipped for a third day in dull trade, as the Easter bombings drove off investors. Sri Lanka widened a

HNB Group records PBT of Rs. 3.4 b in 1Q

Views - 636 Tuesday, 14 May 2019 00:00

Amidst challenging market conditions, Hatton National Bank (HNB) posted a profit before tax of Rs. 3.3 billion and a profit after tax of Rs. 2 billion for the first quarter of 2019. HNB Chairman Dinesh Weerakkody commenting on the performance noted:

Airlines call for lower charges at airport to boost flights

Views - 1029 Monday, 13 May 2019 00:50

With Easter Sunday terror attacks impacting tourist traffic, the airlines last week called for reduction or removal of charges slapped on their operations to Sri Lanka, failing which a scaling down was imminent.

Premium transportation providers to tourists seek immediate relief

Views - 282 Monday, 13 May 2019 00:48

Premium transportation service providers to tourism industry are seeking financial relief to similar to hotels and travel firms as they too are suffering from dismal business consequent to the Easter Sunday terror attacks.

IMF to decide on $ 1.5 b program resumption today

Views - 330 Monday, 13 May 2019 00:41

The Executive Board of the International Monetary Fund (IMF) will decide on whether it will be resuming the $ 1.5 billion Extended Fund Facility (EFF) with Sri Lanka today and extending the timeline of the program till 2020. The Executive Board, whic

CSE, LSE sign MoU in London for dual listing of Lankan dollar bonds

Views - 690 Monday, 13 May 2019 00:41

The Colombo Stock Exchange (CSE) and the London Stock Exchange (LSE) on Friday signed a Memorandum of Understanding (MoU), aimed at facilitating the dual listing of dollar bonds issued by the Government of Sri Lanka, on both exchanges. The MoU will i

Essential food importers, traders also want moratorium, financial support

Views - 375 Monday, 13 May 2019 00:40

Essential food importers and traders have become the latest to seek financial support from the Government partly due to the impact of the Easter Sunday terror attacks as well as recent sharp devaluation. The Essential Food and Commodities Importers

Facial recognition technology best long-term solution for national security: Experts

Views - 623 Monday, 13 May 2019 00:40

In the wake of unprecedented Easter Sunday extremist terror attacks, introduction and widespread use of superior yet cost-effective facial recognition technology is the best long-term solution for better national security according to experts. They s

Ceylinco Insurance announces record 350% dividend

Views - 238 Monday, 13 May 2019 00:00

Ceylinco Insurance PLC has announced an incomparable dividend of Rs. 35 per share to its shareholders for the year 2018, which constitutes a 350% dividend of the original share price at the AGM of the company held recently. This is an increase of 11

Overseas Realty records Rs. 1.4 b profit for 1Q

Views - 279 Monday, 13 May 2019 00:00

Overseas Realty (Ceylon) PLC recorded a Group Revenue of Rs. 2,341 million for the 1st Quarter ended 31 March, an increase of 67% over the corresponding period of last year. The Group Profit After Tax increased by 17% to Rs. 1,390 million. The Compan

Stocks, rupee down

Views - 452 Saturday, 11 May 2019 00:10

Reuters: Sri Lankan shares fell yesterday for a seventh straight day, closing at their lowest in six-and-a-half years, and the rupee slipped for a second day, as the Easter bombings drove off investors.

Opposition calls for proposal to remove IGP

Views - 931 Saturday, 11 May 2019 00:09

The Opposition was called on by Government lawmakers yesterday to propose appointing a Parliamentary Committee to investigate allegations against Inspector General of Police (IGP) Pujith Jayasundara now on compulsory on the instructions of President

Govt. to procure new security equipment for BIA

Views - 1555 Saturday, 11 May 2019 00:07

Airport and Aviation Services yesterday said it is in talks with foreign security experts to procure new tools and machinery to ensure security and provide more convenience to passengers. Stating that heightened security measures will not be the new

Military appraises foreign missions of security improvement

Views - 387 Saturday, 11 May 2019 00:07

Military officials have begun to meet diplomatic missions to appraise them of the improvements in the security situation post-Easter Sunday terror attacks to relax the adverse travel advisories, a top official confirmed yesterday. “Chief of Defence

Fuel prices up

Views - 107 Saturday, 11 May 2019 00:06

The Finance Ministry yesterday raised fuel prices in line with the fuel pricing formula adopted by the Government last year. Accordingly the price of one litr

Mosques required to record sermons

Views - 1353 Saturday, 11 May 2019 00:04

The Muslim Religious and Cultural Affairs Ministry yesterday issued a directive to all Mosque trustees to record all sermons including Jumma and to send it to the Ministry. The directive, which was also released to media by the Government Informatio

Setting the table:The importance of the Indo-Pacific

Views - 231 Saturday, 11 May 2019 00:03

Former US Ambassador to Sri Lanka Robert O. Blake Jr. and currently Senior Director (India and South Asia) of McLarty Associates based in Washington D.C., delivered a speech at the BMICH on 7May, the second in a series of seminars held by the Pathfin

Today's Columnists

17 things ‘Avengers: Endgame’ teaches us about the state of our superheroes

Friday, 24 May 2019

Art imitates life. Even movies do. Maybe especially so. In these lean times, there’s nothing like a little laughter to stop the press, stem the blood pressure, ease that stress in life. So here goes. Trust you’ll take these tongue-in-cheek. Or pe

Sri Lanka needs urgent surgery!

Friday, 24 May 2019

Sri Lanka was on the slippery slope of a serious crisis, heading for a great disaster of the State, even before the outbreak of Easter Sunday attacks. Now, in the aftermath of the ruthless Easter Sunday attacks, the country’s crisis has become exac

Who built the Matara/Beliatta railway line?

Friday, 24 May 2019

In 2019, after 70 long years of independence, Sri Lanka succeeded in adding to the rail network left behind by the British when we extended the southern line from Matara to Beliatta, a distance of less than 20 miles. While the network left in place b

Occupational prestige further propagates a divisive society

Friday, 24 May 2019

Occupational prestige is regarded by society as an individual’s social standing based on the occupational position in the hierarchical social structure of an aggregate of occupations. Accordingly, the general public perceive certain occupations hig

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