UN raps Govt. over delays in SL transitional justice

Views - 72 Tuesday, 24 October 2017 00:00

Delays in delivering transitional justice have led the process to be highly politicised, a United Nations (UN) Rapporteur warned yesterday, urging Sri Lanka to move forward with establishing comprehensive programs to redress grievances, warning accou

Delay in 2017 Budget move locks billions of capital in listed firms

Views - 1642 Monday, 23 October 2017 01:19

A near year-long delay in gazetting a 2017 Budget-approved liberalisation move is locking up billions of capital in listed firms and discouraging a higher inflow of foreign investment into the country, according to property sector experts.

Govt. initiates new debt management strategy: PM

Views - 610 Saturday, 21 October 2017 00:00

Prime Minister Ranil Wickremesinghe in his pre-budget economic policy statement to Parliament yesterday outlined plans to initiate a fresh debt management strategy to cope with high debt repayment needs over the next few years.

Sagala shapes up private sector

Views - 1197 Friday, 20 October 2017 00:00

Minister of Law and Order and Southern Development Sagala Ratnayaka, who is also the Prime Minister’s Chief of Staff, this week made a compelling case that “things are happening” and urged the private sector to move forward, saying the Governme

Mixed performance in external sector in Aug.

Views - 544 Thursday, 19 October 2017 00:00

Sri Lanka’s external sector showed a mixed performance in August 2017, the Central Bank disclosed yesterday. It said although export earnings increased in August 2017, higher growth in import expenditure resulted in an expansion of the trade defic

Bond Commission wraps up hearings; may recommence if needed

Views - 1095 Wednesday, 18 October 2017 00:00

The Presidential Commission of Inquiry on the controversial bond issuance concluded its hearings yesterday, noting that additional hearings may be held if needed, and witnesses including Prime Minister Ranil Wickremesinghe called in the event further

IMF reaches fresh deal with SL

Views - 1218 Tuesday, 17 October 2017 00:09

The International Monetary Fund (IMF) and the Government yesterday reached a fresh deal to further the cooperation between the two in enhancing prudent macroeconomic management.

SL commits to free trade

Views - 625 Monday, 16 October 2017 01:13

As global growth braces for possible headwinds from protectionism, Sri Lanka has firmly committed to stronger multilateral cooperation, greater space for developing countries in the decision-making process of multilateral organisations and concession

PTL Chief Dealer’s testimony challenged

Views - 1434 Saturday, 14 October 2017 00:55

Counsel for Perpetual Treasuries (Pvt) Ltd (PTL) yesterday challenged the evidence given by Chief Dealer Nuwan Salgado before the Presidential Commission of Inquiry on the controversial bond issuance that three individuals code-named Charlie, Car and

Eran lashes out at Airbus for deal with UL for A350-900s

Views - 967 Friday, 13 October 2017 00:02

State Finance Minister Eran Wickramaratne yesterday charged that European aircraft manufacturer Airbus SE should have been more responsible when trying to sell eight A350-900s to a small airline and an economy like Sri Lanka,

Reforms race: Is SL winning?

Views - 985 Thursday, 12 October 2017 00:17

The launch of the Institute of Policy Studies’ annual State of the Economy (SOE) report on Tuesday triggered a healthy debate on the problematic issue of whether Sri Lanka was suffering due to political reforms taking precedence over economic matte

IMF says SL to grow by 4.7%

Views - 788 Wednesday, 11 October 2017 00:00

Building on a global upswing, the International Monetary Fund (IMF) yesterday gave Sri Lanka an optimistic growth projection of 4.7% in 2017 and 4.8% in 2018 despite the Central Bank adjusting growth to be below 4.5%

WB wants Govt. progress over 4 key risks

Views - 887 Tuesday, 10 October 2017 00:19

The World Bank, one of the biggest supporters of Sri Lanka, has called for fast-tracking of reforms, better governance and a balance Budget if the country is to ensure sustained growth and development.

Arjuna playing with fuel?

Views - 1432 Monday, 9 October 2017 00:52

Petroleum Resources Development Minister Arjuna Ranatunga’s remarks last week that he is opposed to a hike in fuel prices despite the Ceylon Petroleum Corporation losing money by not making revisions has caused serious concern over good governance

All agri tech equipment import to be tax free

Views - 16 Saturday, 7 October 2017 01:12

All agri tech equipment import to be tax free

Views - 505 Saturday, 7 October 2017 01:12

In a major boost to the agriculture sector, President Maithripala Sirisena yesterday said the Government will remove all the taxes on imported agricultural technological equipment to make the National Food Production drive a success.

10 more SOEs to sign up for reforms

Views - 1220 Friday, 6 October 2017 00:00

Ten more State-Owned Enterprises (SOEs) have been identified to reform themselves for better financial discipline, transparency, accountability and performance by signing Statements of Corporate Intent (SCI) next year.

Great bond bids betrayal?

Views - 3222 Thursday, 5 October 2017 00:10

Chairmen, CEOs/General Managers and other senior officials of the three state-owned banks yesterday told the Presidential Commission of Inquiry on the controversial bond issuance that former Finance Minister Ravi Karunanayake had on two occasions ins

Incentives for R&D in Budget 2018: Harsha

Views - 907 Wednesday, 4 October 2017 00:00

The upcoming Budget will have “generous” incentives to encourage research and development to make the economy more competitive, while also removing para-tariffs, cess and other obstructions for the private sector to make Sri Lanka a logistics hub

Govt. to mobilise long-term global funding for SMEs

Views - 656 Tuesday, 3 October 2017 00:00

In a fresh bid to enhance the supply of trade finance to SMEs, Central Bank Governor Dr. Indrajit Coomaraswamy said the Government was planning to set up a development banking mechanism, which will have the capacity to mobilise long-term funding from

IMF calls for strengthened debt management

Views - 685 Monday, 2 October 2017 00:25

Even as Sri Lanka met all its policy performance targets, the International Monetary Fund (IMF) has called on the Government to strengthen its debt management and stick to reforms on state-owned enterprises (SOEs), which would include transparent ene

Govt. meets consolidation targets: IMF

Views - 461 Saturday, 30 September 2017 00:45

The passage of the landmark Inland Revenue Act is a major achievement which in turn will support the Government’s ambitious social and developmental program, the International Monetary Fund said yesterday but voiced concern over macroeconomic perfo

July exports up 14%, passes $ 1 b

Views - 786 Friday, 29 September 2017 00:00

Exports grew almost 14% to pass $ 1 billion in July from a year ago, the second time this year they exceeded the billion-dollar target as exports grew for a fifth consecutive month, the Central Bank said yesterday

PM to signal Airbus termination today

Views - 1878 Thursday, 28 September 2017 00:12

Budget critical for consolidation: CB

Views - 1331 Wednesday, 27 September 2017 00:00

As the days tick down to Budget 2018, the Central Bank yesterday called on its partner, the Finance Ministry, to refrain from pumping demand through the Budget ahead of possible elections next year, and maintain fiscal consolidation.

CNN Travel gives thumbs-up for Sri Lanka

Views - 2749 Tuesday, 26 September 2017 00:00

Post-war Sri Lanka is trending globally as a “priority” destination, declared popular global media outlet CNN’s Executive Editor of Travel Brekke Fletcher yesterday in Colombo.

CM Port steams ahead with Hambantota opportunity

Views - 1354 Monday, 25 September 2017 00:00

Converting the newly acquired Hambantota into a global maritime centre to partner with the country’s growth and attract investment would be the key aim of China Merchant Ports Holdings, a top official said calling on local companies to join the eff

AG Dept says ex-CB Chief meddled with due process; Mahendran disagrees

Views - 1147 Saturday, 23 September 2017 00:11

A senior Attorney General Department official assisting the Presidential Commission of Inquiry on the controversial bond issuance yesterday suggested that Former Central Bank Governor Arjuna Mahendran had interfered with due process in the 27 Februar

Economy in urgent need to reorient: IPS

Views - 1412 Friday, 22 September 2017 00:00

The latest Economic Outlook of the Institute of Policy Studies (IPS) suggested there was an urgent need to “reorient” Sri Lanka’s economy towards a more sustainable means of development finance, adding that the country

Reforms ready to roll: PM

Views - 1508 Thursday, 21 September 2017 00:12

Targeting exports and investment, the Government will introduce several laws including possible new legislation to improve the ease of doing business, Prime Minister Ranil Wickremesinghe said yesterday.

Today's Columnists

Bringing beedi into tax net can yield Rs. 40 b in revenue

Tuesday, 24 October 2017

Last week, the Financial Times quoted an AFP article that stated Sri Lanka will start regulating the toddy industry to boost tax revenues from the informal sector. This same principle should be applied to the beedi trade, which has also grown unabate

Grade 5 Scholarship examination and the future of the country

Tuesday, 24 October 2017

The Grade 5 scholarship examination results have been released recently. Although this is known as the “Mothers’ exam,” the mentality of the children can be well articulated when children come from the examination halls after the exams. Today w

Need for tax reforms: Government should not lose it this time but go for them early

Monday, 23 October 2017

In the first economic policy statement, Prime Minister Ranil Wickremesinghe made a number of pledges related to taxes and tax reforms. One was that the Government would review whether the tax concessions given to investors have really delivered the e

Lessons from Geneva

Saturday, 21 October 2017

‘Mission Impossible – Geneva’ is an inspiring account of developments at the Human Rights Council in Geneva when Dayan Jayatilleka was our Permanent Representative there. It is written by his wife Sanja, which provides for fascinating insights

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