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Hayleys completes Hunas Falls sale; share gains further

Views - 419 Tuesday, 15 January 2019 01:00

Hayleys Group yesterday sold its controlling 66.2% stake in Hunas Falls Hotels PLC for Rs. 696.3 million to Serenity Lake Leisure Ltd. The stakes were held by Carbotels Ltd., (50.22%) and Amaya Leisure PLC (15.98%). Hayleys... The deal amounting to


Gota and US citizenship

Views - 1181 Monday, 14 January 2019 00:36

Speculation over former Defence Secretary Gotabhaya Rajapaksa having handed over documents to renounce his citizenship, allowing him to contest for the Presidential elections, was denied by his spokesman yesterday.


Govt. team arrives in Washington for IMF talks

Views - 608 Monday, 14 January 2019 00:35

The Sri Lankan delegation, headed by Finance Minister Mangala Samaraweera, arrived in Washington yesterday to begin talks with the International Monetary Fund (IMF) to put the $ 1.5 billion Extended Fund Facility (EFF) program back on track, Non-Cabi


Govt. to use reserves to repay $ 1 b loan

Views - 416 Monday, 14 January 2019 00:34

The Government has arranged $ 1 billion to repay a five-year sovereign bond maturing next week partly from its declining reserves, sources from both the Central Bank and Finance Ministry said on Friday.


Windfall for Hayleys Group and other shareholders from Hunas Falls Hotels deal

Views - 1612 Monday, 14 January 2019 00:33

Hayleys Group, other shareholders and retailers are in for a windfall with the impending purchase of control of Hunas Falls Hotels PLC at a premium by Serenity Lake Leisure Ltd. Hayleys Group on Friday announced that Carbotels Ltd., (owning 50.22%) a


COPE gets new faces

Views - 605 Monday, 14 January 2019 00:32

The Committee on Public Enterprises (COPE) has been appointed with 16 new members to serve for the remaining period of the eighth Parliament. City Planning, Water Supply and Higher Education Minister Rauff Hakeem, Non-Cabinet Minister of Science, Tec


Draft shipping policy creates storm

Views - 581 Monday, 14 January 2019 00:29

Barely a week after a sudden tariff revision, which was implemented without the knowledge of the private sector or the new Minister, a new so-called final shipping and logistics policy document has surfaced last week, making the UNF Government policy


MTI strategises Africa entry for Bangladesh’s top conglomerate

Views - 380 Monday, 14 January 2019 00:10

MTI Consulting facilitates Bangladesh’s leading business conglomerate, the Gemcon Group, to explore Ethiopia (with the rest of Africa to follow) for the mainstream infrastructure and engineering business – Gemcon Ltd., via MTI’s Associate in Et


AOD’s International Fashion Designer Amesh to showcase at Berlin Fashion Week

Views - 268 Monday, 14 January 2019 00:08

A powerful international collaboration between Sri Lanka and Germany was initiated by AOD in the recent past through creatively fuelled ventures backed by the German Embassy of Sri Lanka. As a part of this international relation and its potential to


First-ever Colombo International Logistics Conference on 1 and 2 Aug.

Views - 501 Monday, 14 January 2019 00:05

Sri Lanka is known as a mega transshipment location in South Asia. In fact, it’s the fastest growing one among major ports of the world, with the rank of 11th best connected port in the world of shipping. Situated in the middle of the Indian Ocean,


Sri Lanka Tourism makes inroads in India

Views - 193 Monday, 14 January 2019 00:03

Sri Lanka Tourism made its presence felt at the India International Travel & Tourism Exhibition held in Mumbai, India on 10 and 11 January. Minister of Tourism Development, Wildlife and Christian Religious Affairs John Amaratunga met heads of India


President meets newly appointed Governors

Views - 178 Saturday, 12 January 2019 00:20

President Maithripala Sirisena yesterday urged all new Governors to directly mediate in order to achieve the expected development goals by making public services systematic and efficient. The President made this statement at a meeting with Governors,


Constitutional Assembly sitting ruled as legitimate

Views - 264 Saturday, 12 January 2019 00:20

Deputy Speaker and the Chair of Committees J.M. Ananda Kumarasiri yesterday rejected the United People’s Freedom Alliance (UPFA) objections to allow the Constitutional Assembly sitting in the main chamber of Parliament, during which the Chairman of


Sri Lanka seeks to lower IMF fiscal targets after political crisis

Views - 256 Saturday, 12 January 2019 00:19

Reuters: Sri Lanka will ask the IMF to ease its 2019 budget deficit target of 3.9% under a $1.5 billion loan program, to give the economy more time to recover from a political crisis, a senior Finance Ministry official said on Thursday. Investor conf


Muza appointed new Chairman of CEA

Views - 228 Saturday, 12 January 2019 00:19

Former Colombo Mayor and Ambassador to Malaysia A. J. M. Muzammil has been appointed as the new Chairman of the Central Environmental Authority by President Maithripala Sirisena. The CEA was established on 12 August 1981, under the provision of the N


President and MR officiate opening of new Thurstan indoor stadium

Views - 460 Saturday, 12 January 2019 00:19

President Maithripala Sirisena and his predecessor Mahinda Rajapaksa officiated the ceremony to vest the newly built indoor stadium at Thurstan College with the students. Rajapaksa is a Thurstan old boy


UK eying Trincomalee as naval base: Reports

Views - 1488 Saturday, 12 January 2019 00:18

By Indeewara Thilakarathne Trincomalee is reported to have been voted as the most favoured location for Britain’s ambitious plan to set up its military bases in South Asia in the post-Brexit era. Britain is expected to open military bases in South


President Sirisena off to Philippines next week

Views - 122 Saturday, 12 January 2019 00:18

MANILA: President Maithripala Sirisena is slated to visit the Philippines on Tuesday upon the invitation of President Rodrigo R. Duterte, the Department of Foreign Affairs (DFA) said. The Sri Lankan Leader’s State visit from 15 to 19 January is the


Sri Lanka falls back most in democracy in South Asia last year

Views - 245 Saturday, 12 January 2019 00:18

Sri Lanka has fallen back in democracy in 2018 more than any other country in the region the latest according to the latest edition of The Economist Intelligence Unit’s Democracy Index, which provides a snapshot of the state of democracy globally.


Rupee ends steady; CSE dips

Views - 41 Saturday, 12 January 2019 00:17

REUTERS: Rupee closed steady on Friday in dull trade as dollar selling by banks offset importer demand for the greenback, while political uncertainty dented investor sentiment. Sri Lankan shares posted a more than six-week closing low. The Colombo


Games industry asks WHO to hold fire on ‘gaming disorder’

Views - 27 Saturday, 12 January 2019 00:17

GENEVA (Reuters): Video games are compelling, but does playing them too much constitute a medical condition? The gaming industry is trying to avoid ‘gaming disorder’ becoming a formally recognised ailment. Games... The World Health Organisation (


Rupee appreciates as banks sell dollars; shares steady

Views - 553 Friday, 11 January 2019 00:11

Reuters: Sri Lanka’s rupee closed higher on Thursday as banks sold dollars but political uncertainty dented investor sentiment. Sri Lankan shares closed steady near a more than six-week closing low hit in the previous session. The Colombo Stock I


Fuel prices reduced

Views - 278 Friday, 11 January 2019 00:10

The Government yesterday decided to reduce the petrol and diesel prices by Rs. 2 per litre. However, the price of Super Diesel, which is an environmental-friendly fuel, was reduced by Rs. 3 per litre as it complies with Euro-04 Emission Standard as


SriLankan Airlines installs SkyLights’ VR cinema at Serendib Business Class Lounge BIA

Views - 314 Friday, 11 January 2019 00:00

SriLankan Airlines, in partnership with immersive entertainment specialist SkyLights, yesterday unveiled a new Virtual Reality (VR) cinema at its Business Class lounge. Installed in the Serendib lounge at Bandaranaike International Airport, SkyLigh


Budget to be bountiful

Views - 1215 Friday, 11 January 2019 00:00

The forthcoming Budget will be mainly focused on Gamperaliya, Enterprise Sri Lanka, establishing an efficient public transport system, and addressing the educational requirements of youth who are unable to pursue higher education due to lack of finan


Hambantota International Port places Sri Lanka on world maritime map

Views - 1164 Friday, 11 January 2019 00:00

The Hambantota International Port (HIP) said yesterday it saw an increase in vessels docking at the port on the first week of the New Year.   One of the region’s top multipurpose ports, HIP is currently handling a number of different activities, f


World’s richest man worth $ 160 b Amazon CEO Bezos and wife MacKenzie to divorce

Views - 776 Friday, 11 January 2019 00:00

Reuters: Amazon.com Inc Founder and Chief Executive Jeff Bezos, the world’s richest person, and his wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on Twitter on Wednesday. Jeff Bezos, 54, has a fortune that has soare


SAARC Development Fund to extend $ 10 m for Lankan micro, SMEs

Views - 223 Friday, 11 January 2019 00:00

SAARC Development Fund (SDF) is launching its Micro, Small and Medium Enterprise (MSME) funding scheme in Sri Lanka. SDF Chief Executive Officer Dr. Sunil Motiwal stated that the MSME funding scheme comes under the Economic Funding Window of SDF. Th


Plantation Minister tells RPC to pay Rs. 1000

Views - 689 Friday, 11 January 2019 00:00

In an attempt to break the deadlock in wage negotiations between Regional Plantation Companies and the Estate Trade Unions, Plantation Minister Navin Dissanayake yesterday asked the employers to pay the demanded basic wage of Rs. 1000. The Minister,


MR sees triple danger for SL in 2019

Views - 736 Thursday, 10 January 2019 02:22

Marking the fourth anniversary of the change of Government, Opposition Leader Mahinda Rajapaksa yesterday highlighted a weakened economy, the 19th Amendment and a possible new Constitution as the “three greatest dangers” Sri Lanka would have to f


Today's Columnists

Automation and machine learning: Helping organisations extract deeper value from data

Tuesday, 22 January 2019

The world is in the midst of a data explosion. Humans are generating an estimated 2.5 quintillion bytes of data every single day1, according to Forbes, and more data was created in the past two years than in all of human history. No wonder data now r


SL tourism: From TOM to experience the brand in 2019

Tuesday, 22 January 2019

Last week I had just crossed the border that separates Laos from Thailand and was on route via land to Thailand. My mind was on Laos – a country branded globally as ‘Simply Beautiful’ (backed by the ADB in 2018) to attract visitors into the cou


Questionable (or absurd) official report on poverty indicators

Tuesday, 22 January 2019

The latest Report issued by the Ministry of National Policies and Economic Affairs on ‘Poverty Indicators’ is both questionable and outrageous.1This Ministry is under the responsibility of the Prime Minister, Ranil Wickremesinghe. Most of the sta


Teaching the younger generation to observe professional ethics is the need of the hour

Tuesday, 22 January 2019

When Sri Lanka got independence in 1948, it was one of the most promising nations both in Asia and in the Commonwealth countries. It had luckily emerged unscathed after the Second World War unlike our neighbours. Sri Lanka furthermore did not have to


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