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Fraudulent ATM skimming: Industry says situation under control but urges vigilance

Views - 2428 Tuesday, 5 February 2019 01:50

The Payment Card Industry Association of Sri Lanka and the Sri Lanka Banks’ Association (Guarantee) Ltd. yesterday said that fraudulent withdrawals of funds via ATM skimming is being investigated and action is being taken but urged the public and c

SL draws record $ 2.3 b FDI in 2018, eyes $ 3 b this year despite political challenges: Malik

Views - 676 Tuesday, 5 February 2019 01:45

Despite political challenges, Sri Lanka has drawn the highest ever Foreign Direct Investments (FDIs) worth $ 2.3 billion last year, prompting Development Strategies and International Trade Minister Malik Samarawickrama to be optimistic of increasing

Malik welcomes Dubai’s Essar for Rs. 30 b mixed development PPP in Battaramulla

Views - 1192 Tuesday, 5 February 2019 01:44

Development Strategies and International Trade Minister Malik Samarawickrama on Friday welcomed Dubai’s Essar for undertaking the Rs. 30 billion mixed development project at the multimodal transport hub in Battaramulla under a public-private partne

Govt. hikes tax on imported potatoes, maize to help local farmers

Views - 171 Tuesday, 5 February 2019 01:40

The Government has increased the import tax on one kilogram of potatoes by Rs. 30 whilst increasing the import levy on one kilogram of maize by Rs. 20. Accordingly, the total import levy imposed on a kilogram of potatoes is Rs. 50, while that of a ki

US says eager to build on partnership with Sri Lanka

Views - 369 Tuesday, 5 February 2019 01:39

The United States has said it remains eager to build on the partnership with Sri Lanka and advance shared interests in the Indo-Pacific region, Secretary of State Michael Pompeo said in a message on the occasion of Sri Lanka’s National Day.

“Sri Lanka’s infrastructure growth ideal for REITs”: MTI

Views - 394 Tuesday, 5 February 2019 00:00

Given the recent CSE announcement that REITs will be introduced to Sri Lanka, MTI’s Corporate Finance practice (with regional partners who have REIT expertise) have opined that “Sri Lanka is primed for REITs – given the rapid growth in its infr

Who is fooling whom with another draft national maritime and logistics policy?

Views - 372 Tuesday, 5 February 2019 00:00

Last week it was reported that yet another draft shipping and logistics policy was handed over to the new Minister Sagala Ratnayaka, it was a policy drafted during former national list Minister Mahinda Samarasinghe who acted against the maritime and

Piramal Glass laments Govt. failure to reduce furnace oil prices

Views - 279 Tuesday, 5 February 2019 00:00

Piramal Glass Ceylon PLC is urging the Government to reduce furnace oil prices similar to petrol and diesel if it is sincere in encouraging more exports. “We regret to note that the relevant authorities have reduced the prices of petrol and diesel

71st Independence Day of Sri Lanka

Views - 550 Monday, 4 February 2019 00:26

71st Independence Day of Sri Lanka

National Govt. to unify all parties for development: Kiriella

Views - 291 Monday, 4 February 2019 00:13

Leader of the House Lakshman Kiriella yesterday defended his party’s decision to form a national government, insisting it was an effort to unify all parties focused on developing the country, strengthening democracy, and upholding the sovereignty o

Economic independence needed for true freedom

Views - 188 Monday, 4 February 2019 00:11

By Nuwan Senarathna To ensure the independence of every citizen, they must have economic independence in every segment of society, University of Colombo Emeritus Professor of Sociology Prof. Siri Hettige said recently. Addressing a public forum on Sr

Fresh Cabinet nod for Rs. 1.95 b Palaly Airport revamp

Views - 954 Monday, 4 February 2019 00:10

By Chathuri Dissanayake The Cabinet has approved a proposal costing Rs. 1.95 billion, to develop Palaly Airport to operate regional commercial flights, the second on the project after it was first approved in October last year. The airport, located

Govt. to unveil ‘Innovation and Entrepreneurship Strategy’

Views - 134 Monday, 4 February 2019 00:10

By Charumini de Silva Development Strategies and International Trade Minister Malik Samarawickrama last week said an ‘Innovation and Entrepreneurship Strategy’ which has already received Cabinet approval, would be launched next month. He said th

SL seeks $1 b loan from China amid debt woes

Views - 370 Monday, 4 February 2019 00:09

AP: Sri Lanka is negotiating a $ 1 billion loan from China to construct a highway linking the capital Colombo to the hilly resort city of Kandy, even as the heavily-indebted South Asian island nation makes arrangements to pay down $ 5.9 billion in fo

Serendib Flour Mills’ dynamic Annual Sales Conference celebrates high achievers

Views - 82 Monday, 4 February 2019 00:03

Serendib Flour Mills celebrated the triumphs of high achievers in its dynamic sales force at its fifth Annual Sales Conference, which was held at the Airport Gateway Hotel recently. The event was held under the 2019 theme, ‘Glory through Quality an

‘Education for All’ to create safe environment and protect children living in slums of Colombo

Views - 67 Monday, 4 February 2019 00:00

Dance performances, speeches and, last but not least, the awarding of numerous cricket certificates brought the project to create a safe and protective environment for vulnerable children in the slums of Colombo, which was funded by the German Embass

MR launches Centre for International Relations

Views - 656 Saturday, 2 February 2019 00:10

Opposition Leader and former President Mahinda Rajapaksa this week launched a Centre for International Relations to strengthen Sri Lanka’s foreign policy.

Ravi K rules out need for immediate emergency power purchases

Views - 51 Saturday, 2 February 2019 00:00

Power, Energy and Business Development Minister Ravi Karunanayake has ruled out the immediate need for emergency power purchases and called on the general public to instead conserve power to reduce demand.

Will prepare SLFP to defeat unpatriotic forces: President

Views - 16 Saturday, 2 February 2019 00:00

President Maithripala Sirisena has said that in the next three months, he plans to strengthen the Sri Lanka Freedom Party (SLFP) not just to defeat its political opponents but also to defeat all unpatriotic forces that are against Sri Lanka. Speakin

Rs. 30 b mixed development project for Battaramulla

Views - 1719 Saturday, 2 February 2019 00:00

In the latest effort to upgrade Battaramulla as the administrative capital, the Ministry of Megapolis and Western Development yesterday launched a Rs. 30 billion mixed development project in the heart of the town. The venture aims to integrate a mul

Duminda backs Sirisena for second term

Views - 227 Saturday, 2 February 2019 00:00

Sri Lanka Freedom Party (SLFP) Parliamentarian Duminda Dissanayake yesterday proposed President Maithripala Sirisena’s name as the party’s next Presidential Candidate at the inaugural party restructuring convention held in Anuradhapura. The propo

Rupee ends 1% firmer on dollar sales

Views - 280 Saturday, 2 February 2019 00:00

REUTERS: The rupee ended over 1% firmer on Friday, posting a weekly gain of 2.8%, as foreign investors purchased Government securities after an IMF statement and the Government’s $ 1 billion debt repayment boosted confidence. The rupee closed at 17

Jan. inflation rises to 3.7%

Views - 140 Saturday, 2 February 2019 00:00

Inflation rose to 3.7% in January, up 0.91% from December when inflation was 2.8%, the Census and Statistics Department said yesterday, with prices being pushed up largely by non-food items. The CCPI for all items for the month of January 2019 was

Modi steps up rural funding in last budget before election, deficit rises

Views - 73 Saturday, 2 February 2019 00:00

NEW DELHI (Reuters): India’s Hindu nationalist-led Government poured extra money into support for farmers and a rural jobs program, delivering on Friday its last budget before a general election due by May with the clear aim of winning over votes.

Govt. to pursue FTAs after fresh review

Views - 154 Saturday, 2 February 2019 00:00

Development Strategies and International Trade Minister Malik Samarawickrama on Thursday said a joint committee would be appointed to evaluate the Sri Lanka-Singapore Free Trade Agreement (SLSFTA), noting that on comple

Stakeholders call for stronger implementation of RTI

Views - 99 Saturday, 2 February 2019 00:00

Media stakeholders yesterday hailed the passage of the Right to Information Act (RTI) as an important measure to promote transparency and called for its wider implementation, especially in appealing a higher court to get information refused by an Inf

JKH reports growth in top line and bottom line for 3Q

Views - 813 Friday, 1 February 2019 00:10

Premier blue chip John Keells Holdings (JKH) yesterday announced improved results for the third quarter and nine months ended on 31 December 2018. The revenue at Rs. 36.55 billion for the third quarter of the financial year 2018/19 is a 17% increase

SL ports should evolve beyond transhipment

Views - 702 Friday, 1 February 2019 00:08

National Policy for Maritime and Logistics sectors recommends transformation from regional transhipment to global maritime hub Says ports should evolve to be ahead of industry demands to remain competitive Policy presented to Minister by Ministry

Presidential committee recommends UL renews hunt for strategic partner

Views - 533 Friday, 1 February 2019 00:05

The 12-member Committee appointed by President Maithripala Sirisena has recommended the Government re-embark on finding a strategic partner for debt-ridden SriLankan Airlines by focusing on debt restructuring, and expand internal capital generation t

Thai Lion Air begins daily direct flights

Views - 497 Friday, 1 February 2019 00:00

Thai Lion Air on Wednesday began direct flights to Colombo from Bangkok (Don Mueang), marking a new chapter in the airline’s history. Thai Lion Air Board Chairman Capt. DarsitoHendroSeputro said Thai Lion Air is ready for Sri Lanka market and excit

Today's Columnists

Discipline and the devil’s disciples

Monday, 18 February 2019

That coach who repeatedly slapped a boy under his care has generated a storm of controversy on social media. On one side are aunties, bleeding hearts, civil rights champions et al who are outraged or at the very least shocked or surprised. On the oth

SL growth profile: Arrest moving down the staircase immediately to avoid hard landing on the floor

Monday, 18 February 2019

Strong message in the Sri Lanka Development Update 2019 Sri Lanka Development Update for 2019 was released by the World Bank last week. This document contains a review by the bank’s residential staff of the present state of the country’s economy

Prudential banking and saga of MTD Walkers

Monday, 18 February 2019

The matters referred to in the article under this title published in the Daily FT (15 February) are spotlighted in more detail under this scrutiny. While the general attention of the public remains more focused on recently arrested underworld kingpin

Minister Wijeyadasa Rajapakshe’s empty rant

Monday, 18 February 2019

Minister Wijeyadasa Rajapakshe (WR) has joined President Sirisena’s reckless verbal onslaught on the Constitutional Council (CC) that was set up by the 19th Amendment (Daily Mirror 15 February). I use “verbal onslaught” intentionally since, as

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