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New US Ambassador to Sri Lanka

Views - 1024 Saturday, 8 September 2018 00:10

Washington, DC: The United States Senate has confirmed President Donald Trump’s nominee Alaina B. Teplitz as Ambassador to Sri Lanka. Teplitz, a member of the Senior Foreign Service, Class of Minister-Counselor, has been confirmed by the Senate to

CSE climbs on foreign buying, post 3rd week of gains

Views - 138 Saturday, 8 September 2018 00:09

Reuters: Shares ended slightly firmer on Friday, boosted by foreign buying, and posted their third straight week of gains. The Colombo stock index ended 0.09% firmer at 6,117.89. The Bourse rose 0.6% during the week. The day’s turnove

UNP gears for next generation of leaders

Views - 211 Friday, 7 September 2018 00:00

By Skandha Gunasekara The United National Party has begun grooming the next generation of leaders to head the Party and meet the challenges ahead, Prime Minister Ranil Wickremesinghe said yesterday. Addressing the UNP 72nd anniversary convention hel

August tourist arrivals up 5%

Views - 406 Friday, 7 September 2018 00:00

Reuters: Tourist arrivals in Sri Lanka rose 4.9% year-on-year in August, government data showed on Thursday. Tourist arrivals for the first eight months of the year rose 12.5% from the same period last year. The Government slashed its target for tour

Swift action needed against corruption: President

Views - 177 Friday, 7 September 2018 00:00

Acknowledging the need to take action against culprits, President Maithripala Sirisena this week said that the current Government has been committed to build a system to boost clean governance free of fraud and corruption. It is the responsibility o

JVP presents 20th A to P’ment

Views - 198 Thursday, 6 September 2018 00:50

By Ashwin Hemmathagama Opposition lawmaker JVP MP Vijitha Herath yesterday moved a private Members’ Bill to amend the Constitution to abolish the Executive Presidency. This will be the 20th Amendment to the Constitution if it receives House approv

Business confidence dips to a 12-month low

Views - 508 Thursday, 6 September 2018 00:50

The LMD-Nielsen Business Confidence Index (BCI) declined by six basis points to register 95 in August, according to the latest edition of leading business magazine LMD. This is its lowest level for the last 12 months. In addition, the index is below

Govt. seeks AG advice on seizing Perpetual Treasuries frozen assets

Views - 963 Thursday, 6 September 2018 00:50

By Skandha Gunasekara The Prime Minister had sought the advice of the Attorney General on whether the Government could swiftly take over the Rs. 11 billion frozen in the bank accounts of the Perpetual Treasuries Group through some form legal avenue,

Cabinet approves global Tourism Development Project

Views - 444 Thursday, 6 September 2018 00:49

Cabinet yesterday approved the Global Level Tourism Development Project, presented by Tourism Development and Christian Cultural Affairs John Amaratunga, the Government Information Department said. The Government also approved awarding contracts to c

Banking system outlook negative: Moody’s

Views - 664 Thursday, 6 September 2018 00:49

Moody’s Investors Service said that the outlook for Sri Lanka’s banking system is negative, as the economy remains weak and asset quality is deteriorating. “The economy will only exhibit a modest rebound, as the Government’s high debt burden

Rupee hits record low for 12th straight session

Views - 258 Thursday, 6 September 2018 00:48

Reuters: The rupee hit a record low for a 12th straight session on Wednesday, tracking weakness in emerging markets stocks and currencies, while rising demand for the greenback from importers also weighed. The rupee touched 162.25 per dollar as curre

Govt. to re-examine restrictions on migrant workers

Views - 183 Wednesday, 5 September 2018 00:00

The Government has decided to reevaluate the legal restrictions placed on female migrant workers with children less

249 North Central youth picked for Enterprise Sri Lanka loans

Views - 137 Wednesday, 5 September 2018 00:00

Two hundred and forty-nine young entrepreneurs eligible to receive ‘Thurunu Diriya’ loans were identified from the North Central Province, the Prime Minister’s Office said in a statement yesterday. This was revealed at a progress review meeti

Shares hit over 3-week closing high in lean trade

Views - 154 Wednesday, 5 September 2018 00:00

Reuters: Shares rose for a fifth straight session on Tuesday and marked their highest close in more than three weeks, led by gains in banking and beverage stocks. However, trading volume was low as investors stayed on the sidelines for want of fresh

Rupee hits record low for 11th session

Views - 310 Wednesday, 5 September 2018 00:00

Reuters: The rupee fell to an all-time low on Tuesday, marking its 11th straight session of setting fresh record lows.

Finance Act amendments presented to House

Views - 614 Wednesday, 5 September 2018 00:00

Aiming to regularise vehicle imports in identified categories and adjust several levies, the Government yesterday moved an amendment to the Finance Act in Parliament. Minister of Lands and Parliamentary Reforms and Chief Government Whip Gayantha Karu

Prime Minister Chief Guest at CIMA-ICCSL awards

Views - 310 Wednesday, 5 September 2018 00:00

Prime Minister Ranil Wickremesinghe will be the Chief Guest and deliver the keynote address at the Most Admired Companies of Sri Lanka 2018 awards, which will be held at the Shangri-La Hotel Colombo on 9 September at 7.00 p.m. The event is being orga

Prime Minister to close SLES 2018 with keynote address

Views - 248 Tuesday, 4 September 2018 00:37

Prime Minister Ranil Wickremesinghe will deliver the keynote address at the final session of the Sri Lanka Economic Summit (SLES) 2018, organised by Sri Lanka’s apex business chamber, the Ceylon Chamber of Commerce (CCC). The event will be held sp

Vipula appointed Interim Group CEO at UL

Views - 1115 Tuesday, 4 September 2018 00:36

Vipula Gunatilleka has been appointed as the Interim Group CEO with immediate effect at SriLankan Airlines. He re-joined SriLankan as the Group Chief Operating and Finance Officer of SriLankan Airlines from 1 August. Gunatilleka held the position of

Election Commission to prepare to hold elections under new system in Jan. 2019

Views - 224 Tuesday, 4 September 2018 00:36

By Chathuri Dissanyake The Election Commission, during its meeting yesterday, decided to go ahead with preparatory work to hold Provincial Council elections under the new system in January next year.

Stock market climbs to highest close in nearly 3 weeks

Views - 262 Tuesday, 4 September 2018 00:35

Reuters: Shares rose for the fourth straight session on Monday to their highest close in nearly three weeks, led by gains in banking and beverage stocks. The Colombo stock index ended 0.18% higher at 6,091.45. It rose 0.4% last week, marking the seco

Rupee hits record low for 10th session on importer dollar demand

Views - 310 Tuesday, 4 September 2018 00:35

Reuters: The rupee fell to an all-time low on Monday, marking a 10th straight session of setting fresh troughs, as importer dollar demand surpassed mild selling of the greenback by exporters, dealers said. The rupee, which hit a record low of 161.65

Hemasiri new President’s Chief of Staff

Views - 181 Tuesday, 4 September 2018 00:35

People’s Bank Chairman Hemasiri Fernando has been appointed as the Chief of Staff of the President. He received his letter of appointment from President Maithripala Sirisena at the Presidential Secretariat yesterday (3). Fernando was the Chairman o

Corporate earnings up despite tough times

Views - 783 Monday, 3 September 2018 00:21

Earnings of listed companies have been up 4% in the Second Quarter and 11% for the 12 months despite challenging times.

Govt. took long-term pains for lasting economic benefits: Mangala

Views - 543 Monday, 3 September 2018 00:17

Finance Minister Mangala Samaraweera said the Government had not taken shortcuts towards “populist” economic interventions but long-term pains that lead to lasting benefits, where every citizen can become a shareholder of the knowledge-based, hig

Largest 2D seismic survey for oil and gas exploration starts

Views - 455 Monday, 3 September 2018 00:10

The seismic vessel BGP Pioneer has arrived at Colombo Port to conduct a Modern Broadband 2D Seismic Survey for hydrocarbon exploration in the country. The inauguration ceremony to commence operations was held yesterday under the patronage of the Mini

CSE posts weekly gain, but down 1% in August

Views - 114 Saturday, 1 September 2018 00:00

Reuters: The shares posted a weekly gain as they edged higher marginally on Friday, pulling further away from a 17-month low hit earlier this week.

Rupee hits record low on strong importer dollar demand

Views - 147 Saturday, 1 September 2018 00:00

Reuters: The rupee dropped to an all-time low on Friday, marking its ninth straight session of setting fresh lows, as dollar demand from importers remained strong.

Govt. to invest $ 1 b on utility services in Port City

Views - 837 Saturday, 1 September 2018 00:00

The Government is set to invest $ 1 billion to supply electricity and water to the Port City, Megapolis and Western Development Champika Ranawaka announced yesterday in an interview given to China Central TV. “We will be supplying electricity and w

Indian Rupee hits record low of 71 per dollar

Views - 307 Saturday, 1 September 2018 00:00

Mumbai (Reuters): The rupee fell to a record 71 per dollar in opening trade on Friday, tracking weakness in almost all other Asian peers as the latest round of US-China trade tensions dulled investor risk appetite and gave a boost to the dollar. The

Today's Columnists

Laurels of ‘Living Together’: Refreshing reflections

Tuesday, 25 September 2018

It was a memorable evening with a mega gathering for a meaningfully different reason. It was not just another book launch with ego-boosting speeches about the author. It was also not an event where a popular politician coming late and preaching about

The fate of the rupee: Central Bank is caught with ‘Devil’s Alternative’

Tuesday, 25 September 2018

Not all are losing when the rupee depreciates The recent depreciation of the rupee against the US dollar in the market has apparently driven the entire nation to a panic mode. While it had been a field day for the media and opposition law makers, the

Southbound rupee and northbound CoL

Tuesday, 25 September 2018

The Sri Lankan Rupee hit a record low of 170 per $ last week, and the Minister of Finance warns of further depreciation. This is inevitable given the chaotic state of the nation’s economy. While the rupee turns south, CoL (cost of living) has no o

In the desert of Tamil films, actor Sivaji Ganesan was an oasis

Saturday, 22 September 2018

‘Indian Film,’ first published in 1963 and co-authored by former Columbia University Professor Erik Barnouw and his student Dr. Subrahmanyam Krishnaswamy, is considered a seminal study of the evolution and growth of Indian cinema. The book is cit

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