President backs foreign investment for power projects

Views - 634 Saturday, 14 December 2019 00:05

President Gotabaya Rajapaksa has instructed the Power and Energy Ministry to look into attracting foreign investment to fast-track long-delayed projects and follow proper procurement procedures, a statement from the President’s Media said yesterday

Cabinet decides to review CIFC scope

Views - 1613 Friday, 13 December 2019 00:00

Cabinet has decided to review the scope of the Colombo International Financial City (CIFC), which was earlier planned to be established on the part of the $1.4 billion Port City project owned by the State, to ensure that it is in line with current po

SL poised for growth

Views - 1712 Thursday, 12 December 2019 03:26

Well-known investor and emerging markets guru Dr. Mark Mobius this week placed the odds of Sri Lanka returning to strong growth in its favour, provided the Government moved efficiently to implement policies, which include establishing an investor-fri

Fiscal stimulus should be balanced with taxes: ICRA

Views - 716 Wednesday, 11 December 2019 00:19

The wide-ranging fiscal stimulus package outlined by the Government will boost aggregate demand in the short-run, ICRA Lanka, which is the local arm of ratings agency Moody’s, said yesterday....

Govt. bullish on investment

Views - 1385 Tuesday, 10 December 2019 00:00

The Government yesterday said they were open for business, calling on foreign investors to be confident in the support from the present administration and use existing Sri Lankan trade deals to do business and expand exports to the region.

Drafting of new law to regulate money lenders underway: CB

Views - 1105 Monday, 9 December 2019 02:02

The Central Bank yesterday said it was in the process of drafting a law for regulating moneylenders to protect customers but called on the public to be careful of money lenders and to do due diligence before agreeing to any loans in the meantime. T

Import restrictions to support SMEs

Views - 1577 Saturday, 7 December 2019 00:02

In an effort to protect local small scale agriculture exporters, Prime Minister Mahinda Rajapaksa has issued two Gazette notifications banning the import and re-export of nine crops and also restricted imports of garbage or refuse to be recycled and

Govt. sets plans for prosperity in motion

Views - 1094 Friday, 6 December 2019 00:00

Cabinet gave its approval to an ambitious economic national policy framework on Wednesday, which the Government plans to implement over the next five years in a bid to guide the country towards a prosperous future. The framework, titled “Vistas of

Reform best path to growth: WB Chief Economist

Views - 1032 Thursday, 5 December 2019 00:00

Sustained high growth in South Asia is dependent on relentless commitment by governments to structural changes, including rolling back protectionism and integrating with the global economy, a prominent economist said this week, warning Sri Lanka may

Govt. to reintroduce tax concessions for FDIs

Views - 2006 Wednesday, 4 December 2019 02:18

The Government yesterday said they will reintroduce tax concessions to boost Foreign Direct Investments (FDIs), as well as renegotiate all existing and proposed bilateral and investment agreements, some of which may take place after the General Elect

Govt. to ‘recalibrate’ for growth

Views - 1451 Tuesday, 3 December 2019 02:35

The Finance Ministry yesterday said the fiscal deficit could be as high as 7% of GDP in 2019 due to plummeting revenue caused by slow growth and the Easter Sunday attacks but assured that the Government would “recalibrate” operations to strengthe

Stimulus should not undermine debt sustainability: CB Chief

Views - 1647 Monday, 2 December 2019 01:47

Limited fiscal space to accommodate the stimulus package announced by the Government exists, said Central Bank Governor Dr. Indrajit Coomaraswamy last week, but warned it would have to be well-structured and a close watch is needed to keep the econom

$ 400 m Indian loan for Sri Lanka in support of President Gotabaya

Views - 1186 Saturday, 30 November 2019 00:05

NEW DELHI (Reuters): India will lend Sri Lanka $ 400 million for infrastructure projects, Prime Minister Narendra Modi said on Friday after talks with the new President Gotabaya Rajapaksa aimed at improving bilateral ties. Sri Lanka, located off the

Hopes for boost in Indo-Lanka ties

Views - 2223 Friday, 29 November 2019 00:00

President Gotabaya Rajapaksa, who arrived in New Delhi last evening on his first State visit since assuming office, will push for more Indian investment and possibly wider financial support for Sri Lanka, while assuring its closest neighbour of conti

Tax bonanza

Views - 4811 Thursday, 28 November 2019 03:42

The first Cabinet meeting presided over by President Gotabaya Rajapaksa yesterday approved an extensive stimulus package mostly centred on slashing Value Added Tax (VAT) to 8% from 15%, to give relief to major sectors and boost much-needed economic g

GR’s first Cabinet meeting today

Views - 1195 Wednesday, 27 November 2019 01:21

President Gotabaya Rajapaksa will preside over his first Cabinet meeting today after his 15-member interim Cabinet was appointed by the President on last Friday (22 November). Senior public official S. Amarasekera has been appointed as the new Secre

Turnaround time for economy: MR

Views - 1798 Tuesday, 26 November 2019 00:30

Prime Minister Mahinda Rajapaksa yesterday assured policy consistency, competent leadership and economic stimulus to turnaround Sri Lanka’s economy in the shortest possible time, when assuming duties as the Finance Minister. Speaking at the Fina

Tourism optimistic of revival under Gota but wants urgent action

Views - 2082 Monday, 25 November 2019 01:31

The private sector is optimistic of a proper revival of the tourism industry under new President Gotabaya Rajapaksa, while looking forward to urgent action on key issues that have dented more robust growth, especially post the Easter Sunday setback.

New Cabinet for fresh political culture: President Rajapaksa

Views - 1952 Saturday, 23 November 2019 00:00

President Gotabaya Rajapaksa appointed a 16-member Cabinet yesterday, establishing an interim government focused on carrying out the manifesto which he presented to the public before the Presidential Election. Fifteen Ministers were sworn in before

President appoints new Cabinet today

Views - 1384 Friday, 22 November 2019 00:30

President Gotabaya Rajapaksa will appoint a 15-member Cabinet today, which will include leaders of the UPFA’s constituent parties, including the SLFP, MEP, and CWC. The function will take place at the Presidential Secretariat at 8.00 a.m. Among tho

RW out, MR in today

Views - 2919 Thursday, 21 November 2019 01:48

Prime Minister Ranil Wickremesinghe will resign from his post this morning, paving the way for Opposition Leader Mahinda Rajapaksa to be sworn in as the new Premier later in the day.

To go or not to go: Ranil ’s dilemma

Views - 3310 Wednesday, 20 November 2019 03:36

Speculation was rife last night that Prime Minister Ranil Wickremesinghe will step down today, along with members of the Cabinet, to pave the way for President Gotabaya Rajapaksa to make new appointments, whilst others claimed the former will hold on

President outlines policy priorities

Views - 4025 Tuesday, 19 November 2019 00:00

Newly-sworn-in President Gotabaya Rajapaksa yesterday, in his first address to the nation, outlined his policies, which centred on efficiency to drive economic growth, a non-aligned foreign policy, priority for national security and minority inclusiv

President Gotabaya

Views - 4892 Monday, 18 November 2019 01:35

Starting a new chapter in Sri Lanka’s political history Nandasena Gotabaya Rajapaksa (70) will be sworn in today as the Seventh Executive President having securing a resounding victory on Saturday.

Poll for new president today

Views - 797 Saturday, 16 November 2019 00:20

Nearly 16 million voters will go to the polls today to elect a new president with election officials expecting a high turnout of over 80%. Voting will commence at 7 a.m. and will end at 5 p.m. while counting of postal votes will commence by 6 p.m., o

BOI aims for $ 1.5 b FDI for 2019

Views - 753 Friday, 15 November 2019 00:00

The Board of Investment (BoI) is aiming to end the year with $ 1.5 billion in Foreign Direct Investment (FDI), a top official said yesterday, with plans to tap into the bunkering and petrochemical industry, which could potentially earn Sri Lanka bill

Politicking for presidency ends

Views - 1230 Thursday, 14 November 2019 00:00

Clean governance, boosting economic growth, and ensuring national security were at the forefront of key messages delivered by the main presidential contenders yesterday, as they wound up their campaigns and sought to set their credentials in the mind

UL limps with Rs. 17.21 b loss

Views - 1299 Wednesday, 13 November 2019 02:04

SriLankan Airlines continued its turbulent run in 2018, racking up losses of Rs. 17.21 billion and outstanding loans of Rs. 126.7 billion, with the running of the national carrier continuing to be financed through bank borrowings, secured by comfort

CJ names 5-member SC bench to hear MCC, SOFA, ACSA petitions

Views - 312 Tuesday, 12 November 2019 00:00

Chief Justice Jayantha Jayasuriya yesterday named a five-judge Supreme Court bench to hear several Fundamental Rights petitions challenging the signing of the Millennium Challenge Corporation Compact (MCC), Status of Forces Agreement (SOFA) and Acqui

GR’s citizenship row resurfaces

Views - 1952 Monday, 11 November 2019 00:25

A fresh row erupted over the citizenship of SLPP presidential candidate Gotabaya Rajapaksa over the weekend, with Sports Minister Harin Fernando alleging that the former had not completed the process of renouncing his US citizenship, which drew a str

Today's Columnists

Roots of the crisis

Saturday, 14 December 2019

The candidates who had genuinely contested the Presidential Election had elaborate and attractive election manifestos. But none of them had a pragmatic program to address the basic question of how to overcome the extensive crisis Sri Lanka is facing.

What price reforms now that progress rules?

Friday, 13 December 2019

It was a famous victory. A shadow of a doubt persists after an election commission member spoke up recently, after the event, about an alleged irregularity somewhere in the voting system works. But this would be churlish, buffoonish and academic to t

Assessment of fitness and propriety of directors and officers

Friday, 13 December 2019

In the early ’80s, a businessman turned financier from the hill capital started a public deposit canvassing drive by offering 20% interest per month. The depositors were offered on the spot payment of 20% as interest for the first month for their d

How to select top officials to public corporations

Friday, 13 December 2019

It is commendable that the President wants to select suitable decision-makers to public corporations without them being mere and ad hoc political appointments. However, the process thus far seems somewhat weak. Various people are complaining about th

Columnists More