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Workers remittances dip in Nov.

Views - 306 Monday, 20 January 2020 04:08

Workers’ remittances have declined by 7.2%, year-on-year in November to $ 515 million, Central Bank said on Friday. On a cumulative basis, workers’ remittances declined by 5.9% to $ 6.05 billion during the first 11 months of 2019, compared to th

Net foreign inflows into Govt. securities continue

Views - 878 Monday, 20 January 2020 04:08

Foreign investment in rupee denominated government securities recorded a net inflow for the second consecutive month in November though year to date there continues to be an outflow. Central Bank said net inflow in November was $ 46 million whilst i

Leading accounting bodies call for improved unsustainable development goals disclosures

Views - 207 Monday, 20 January 2020 00:00

Leading accounting bodies and other organisations last week called for corporate and asset owner action and improved reporting on the UN’s Sustainable Development Goals (SDG) in an attempt to hit goals set for 2030. The recommendations are detaile

President’s Office directs provincial authorities to prioritise work

Views - 721 Saturday, 18 January 2020 00:18

The President’s Office yesterday directed all Provincial Governors to prioritise work in seven selected areas between January and March in view of the limited financial resources available in terms of Vote on Account – 2020 approved by the Parlia

IRD puts VAT relief at Rs. 143 b; urges trade to pass it on to consumers

Views - 577 Saturday, 18 January 2020 00:10

The Inland Revenue Department yesterday estimated the beneficial changes made to the value added tax (VAT) to be Rs. 143 billion and urged the trade and business community to pass it on consumers. “We estimate Rs. 143

CNN spotlight for ecologist working to save the Sri Lankan leopard

Views - 906 Saturday, 18 January 2020 00:08

In the latest segment from CNN’s Answering the Call – part of the network’s global initiative ‘Call to Earth’ – CNN hears how conservationist Anjali Watson is working to protect forested land corridors for one of the most vulnerable big c

EFC urges Govt. to abandon estate wage hike move

Views - 31 Saturday, 18 January 2020 00:00

The Employers’ Federation of Ceylon (EFC) in a statement has urged the Government to abandon the move to hike estate workers’ daily wage by 17% or Rs. 145 to Rs. 1,000 from March 2020 as proposed. Following is the full statement of EFC: “It wa

Services sector hit new high in December; manufacturing lags

Views - 27 Saturday, 18 January 2020 00:00

The country’s services industry hit a new high in December 2019 whilst the manufacturing sector lagged as per the Purchasing Managers Index (PMI). Central Bank said the Manufacturing PMI expanded at a slower pace in December, recording an index val

Govt. lifts ban on drone operations

Views - 259 Saturday, 18 January 2020 00:00

The Government yesterday lifted a ban on civilian drone operations, which was imposed in the aftermath of the Easter Sunday bombings in April last year. The Go

Asian shares firm as China’s GDP raises hopes of recovery

Views - 56 Saturday, 18 January 2020 00:00

SHANGHAI (Reuters): Asian shares rose on Friday after global stock indexes and Wall Street posted more records, and as China’s economic growth matched expectations in spite of US trade pressures. The world’s second-largest economy grew 6.0% in th

UNP leaders to meet tomorrow to break deadlock

Views - 219 Saturday, 18 January 2020 00:00

Leaders of the United National Party (UNP) will meet tomorrow for a special discussion on the future direction of the party. UNP Leader Ranil Wickremesinghe, Speaker Karu Jayasuriya, and Opposition Leader Sajith Premadasa will meet tomorrow to discu

CSE remains bearish

Views - 182 Saturday, 18 January 2020 00:00

The Colombo stock market remained bearish as it ended Friday negatively midst foreign selling, though turnover was relatively healthy. The All Share Price Index was down 8 points or -0.14% and S&P SL20 lost 16 points or 0.58%. Turnover was Rs. 600 m

Fitch affirms SriLankan Airlines’ Government-guaranteed $ 175 m bonds at ’B’

Views - 110 Saturday, 18 January 2020 00:00

Fitch Ratings has affirmed SriLankan Airlines Ltd.’s (SLA) $ 175 million Government-guaranteed 7% unsecured bonds due 25 June 2024 at ’B’. The airline’s bonds are rated at the same level as SLA’s parent, the Government (B/Negative), due to

Exports dip continues but 11-month haul stays up

Views - 546 Friday, 17 January 2020 00:30

Sri Lanka’s export earnings in the first 11 months of 2019 rose by 1.7% to $10.7 billion from a year earlier, the Export Development Board (EDB) said yesterday. However, the total merchandise exports recorded for the month of November 2019 was down

CB forensic audits must be made public: TISL

Views - 196 Friday, 17 January 2020 00:28

Transparency Intern-ational Sri Lanka (TISL) yesterday called on the Speaker to disclose to the public and Members of Parliament the contents of the forensic audits of the Central Bank of Sri Lanka (CBSL). The reports were to be tabled at the Committ

Mauritius-based fund buys 19% of Softlogic Life for Rs. 2.6 b

Views - 5502 Friday, 17 January 2020 00:23

A Mauritius-based fund named Milford Ceylon Pvt Ltd., yesterday bought a 19% stake in Softlogic Life Insurance PLC for Rs. 2.6 billion. The stake amounting to 71.25 million shares was acquired at Rs. 37 each. The seller was DEG or State Street Muni

President directs transfer of all Govt. ICT-related projects, including financial provisions to ICTA

Views - 8116 Friday, 17 January 2020 00:20

All Government organisations have been directed to transfer ICT-related projects and programs, including financial provision, to the Information and Technology Agency (ICTA), as part of the initiative taken by President Gotabaya Rajapaksa to centrali

Anil Koswatte new Litro Gas Chairman; new faces on Board

Views - 3478 Friday, 17 January 2020 00:16

Multi-faceted Anil Koswatte has been appointed as the Chairman of Litro Gas Lanka Ltd., the largest importer and supplier of LP Gas. Koswatte is well known sales and marketing professional is a leading entrepreneur and the founder of ‘Lakarcade,’

Green light for civil helicopter flights from Galle Face

Views - 3348 Friday, 17 January 2020 00:14

The Government yesterday granted permission for domestic aviation operators to use the helipad at Galle Face after a lapse of 25 years. The move was welcomed by domestic operators, who pointed out that operating out of Galle Face would allow tourist

President lands at BIA unannounced; suggests improvements

Views - 1102 Friday, 17 January 2020 00:10

President Gotabaya Rajapaksa yesterday paid an unannounced visit to Bandaranaike International Airport (BIA) to inspect its operations and facilities. During the visit, The President observed the international airport’s functioning, paying close at

Singaporean agri-business gets Cabinet nod for fertiliser procurement contract

Views - 148 Friday, 17 January 2020 00:00

Singaporean agri-business Ameropa Asia Ltd. was recommended by the Standing Cabinet Appointed Procurement Committee (SCAPC) to award the tender for procuring a supply of 15,000 MT of Urea (Granular) to the Ceylon Fertiliser Company Ltd. and the Colom

S&P revises Sri Lanka’s outlook to negative; ratings affirmed at ’B/B’

Views - 1764 Thursday, 16 January 2020 02:25

S&P Global Ratings has revised its outlook on the Sri Lanka sovereign credit rating to negative from stable, affirming ’B’ long-term and ’B’ short-term foreign and local currency credit ratings on Sri Lanka. The transfer and convertibility as

Decision on release of CB forensic audit reports on 21 Jan.

Views - 464 Thursday, 16 January 2020 02:23

Speaker Karu Jayasuriya met with Attorney General Dappula de Livera in Parliament on Tuesday before making a final decision on the release of the forensic audit reports prepared as part of the investigation into the Central Bank bond scam. Even thoug

Crystal Property Group gets Rs. 180 m investment from global firm

Views - 1509 Thursday, 16 January 2020 02:22

Crystal Property Group Ltd. (CPG), the developers of Sri Lanka’s first boutique condo hotel Crystal Sands – Villas in the Sky (, successfully raised a Rs. 180 million equity investment from a Singapore-based investment firm fo

Boards of key tourism agencies reconstituted

Views - 1680 Thursday, 16 January 2020 02:11

The boards of directors of key tourism agencies have been reconstituted, with many welcoming the majority of the appointments while a few greeted them with upraised eyebrows. The industry has welcomed the decision to make one person, Kimarli Fernando

THASL welcomes Tilak Weerasinghe’s appointment

Views - 1756 Thursday, 16 January 2020 02:10

The Hotels Association of Sri Lanka yesterday welcomed the appointment of industry expert and MP Namal Rajapaksa’s father-in-law Tilak Weerasinghe to the Board of Airport & Aviation Services (Sri Lanka) Ltd. “It’s important for travel industry

Payments to Chairpersons and Boards of Directors of State entities slashed on President’s directive

Views - 1851 Thursday, 16 January 2020 02:10

The Presidential Secretariat has issued a circular limiting the monthly allowance paid to Chairpersons of State institutions to Rs. 100,000 and the allowance for members of the Board of Directors to Rs. 25,000. In the circular addressed to all Secret

Renuka Holdings plans 32-storey mixed development for Rs. 4 b

Views - 560 Thursday, 16 January 2020 02:09

Renuka Holdings PLC plans to construct a 32-storey tower ‘Galle Face Icon’ in Colombo 3 at a cost of Rs. 3.9 billion. It said Galle Face Properties Ltd., a sub-subsidiary of the Company, has entered in to a contract with Sanken Construction Ltd.,

GSEA Sri Lanka seeks next generation of student entrepreneurs for 6th consecutive year

Views - 167 Thursday, 16 January 2020 02:02

The Global Student Entrepreneur Awards (GSEA) has played an influential role in Sri Lanka, enriching and empowering student entrepreneurs since 2015. Over the years, Sri Lanka has produced three global finalists. This year marks the sixth consecutive

Ranjan faces one-year imprisonment and 7 years without civic rights

Views - 3049 Wednesday, 15 January 2020 00:51

UNP MP Ranjan Ramanayake, who was arrested yesterday over his leaked phone recordings faces, losing his civic rights for seven years as well as a year-long imprisonment if found guilty.....

Today's Columnists

Strategies towards the vision of ‘Clean Country – Green Environment’

Tuesday, 28 January 2020

Sri Lanka is a small island in South Asia. In early times, it was named the Pearl of the Indian Ocean. But what is happening to the pearl now? As a result of urbanisation and increase of population, environmental issues related to solid waste are inc

Has Sri Lanka really understood India’s economic potential?

Tuesday, 28 January 2020

India, a land with a diverse culture and heritage, is no doubt the centre of the South Asia that can take rest of the countries surrounding it to greater economic prosperity within the next few decades. This article is not a technical analysis of Ind

A challenge for President Gotabaya Rajapaksa: The societal, economic and political debt

Tuesday, 28 January 2020

The challenges before President Rajapaksa in balancing and striving towards balancing the societal, economic and political balance sheets is enormous. Although shown separately, these three are interconnected and interdependent, therefore requiring a

Gota’s ‘Viyathmaga’ to the future

Tuesday, 28 January 2020

Any critical assessment of President Gotabaya Rajapaksa must take into consideration the salient characteristics that make him stand out from the run-of-the-mill politicians who had occupied the peaks of power.

Columnists More