Controversy over new Army Chief

Views - 1152 Tuesday, 20 August 2019 00:41

Swift condemnation followed President Maithripala Sirisena’s decision to appoint controversial wartime commander Lt. Gen. Shavendra Silva as Commander of the Army from local and international actors yesterday. After oscillating on the decision for

Teplitz tapers down Lankan fears over $ 480 m US Millennium Challenge deal

Views - 1334 Monday, 19 August 2019 01:04

Ambassador Alaina B. Teplitz last week allayed fears over Sri Lanka’s move to sign up for the US Government’s Millennium Challenge Corporation (MCC) Compact entailing $ 480 million of grant assistance, saying it was highly beneficial for poverty

Change of guard in Army today?

Views - 3343 Saturday, 17 August 2019 04:47

President Maithripala Sirisena is tipped to appoint current Chief of Staff Shavendra Silva as Commander of the Army today, with Lt. General Mahesh Senanayake due to retire tomorrow (18), highly placed sources said.

Govt. to call RFPs for $ 500 m Samurai bond

Views - 838 Friday, 16 August 2019 00:00

The Government will soon issue Request for Proposals (RFPs) to raise $ 500 million via Samurai bonds, which will be used to bolster reserves and finance debt repayment, Central Bank Governor Dr. Indrajit Coomaraswamy said yesterday.

Gota still American?

Views - 12765 Thursday, 15 August 2019 00:44

Sri Lanka Podujana Peramuna (SLPP) Presidential candidate Gotabaya Rajapaksa’s name does not appear on the official US Government publication “Quarterly Publication of Individuals, Who Have Chosen To Expatriate”, or renounce US citizenship, in

PSC to present motion to extend sittings by one month

Views - 248 Wednesday, 14 August 2019 00:00

By Ashwin Hemmathagama Parliamentary Select Committee (PSC) appointed to investigate the Easter Sunday attacks will seek an extension of one month by moving a motion on 23 August to conclude its ongoing investigations, a top official said yesterday.

I have the people behind me: Sajith

Views - 2331 Tuesday, 13 August 2019 01:05

United National Party (UNP) Deputy Leader and Housing, Construction and Cultural Affairs Minister Sajith Premadasa was yesterday confident of having the people’s support to be a presidential contender promising to focus on inclusive development to

Gota throws down gauntlet to UNP

Views - 4366 Monday, 12 August 2019 01:25

Amidst much spectacle, deafening cheers, and countrywide fireworks, Gotabaya Rajapaksa yesterday accepted the Presidential candidacy of the Sri Lanka Podujana Peramuna (SLPP), pledging to be a leader who will walk the talk and deliver development to

SL needs a democratic leader not a Terminator: PM

Views - 1857 Saturday, 10 August 2019 00:00

Brushing up his credentials as a leader that supports democratic principles, Prime Minister Ranil Wickremesinghe yesterday said the country needs a leader who will promote democracy and not a “Terminator” who will destroy the gains made by democr

SLPP will give people the candidate they want: Basil

Views - 767 Friday, 9 August 2019 00:00

Boosting anticipation to fever pitch levels, Sri Lanka Podujana Peramuna (SLPP) national organiser Basil Rajapaksa yesterday described their Presidential candidate to be announced on Sunday as meeting the expectations of the public, and ruled out his

President roundly slammed by MPs over salary comments

Views - 2299 Thursday, 8 August 2019 02:34

Lawmakers of both sides of Parliament yesterday openly dished out criticism to President Maithripala Sirisena, for going public with the emolument details of Parliamentarians, in what MPs alleged was an attempt to tarnish their image in the public ey

Govt. takes responsibility for Easter attacks: PM

Views - 1541 Wednesday, 7 August 2019 00:00

Declining to point fingers at authorities who were unable to prevent the Easter Sunday attacks, testifying before the Parliamentary Select Committee, Prime Minister Ranil Wickremesinghe yesterday held the entire Government, including the Cabinet of M

Govt. helps biz map Indian entry

Views - 1236 Tuesday, 6 August 2019 01:18

By Uditha Jayasinghe To help Sri Lankan companies eyeing the daunting Indian market, the International Trade and Development Strategies Ministry yesterday launched a new report to assist breaking into India, with Minister Malik Samarawickrama undert

Post-Easter tourism PR, marketing blitz at crossroads

Views - 961 Monday, 5 August 2019 01:26

The crucial yet short-term global public relations and marketing campaign to revive Sri Lanka’s image and tourism post Easter Sunday attacks could go for a fresh and proper tender process, according to analysts, though the industry is racing agains

July tourist arrivals top 100,000 mark

Views - 644 Saturday, 3 August 2019 00:10

Tourist arrivals in July have crossed the 100,000 mark, reflecting a massive 83% gain in comparison to June, though 102,000 below compared to last year. The Sri Lanka Tourism Development Authority (SLTDA) said yesterday that there were 115,701 touri

Bill to abolish death penalty presented to Parliament

Views - 264 Friday, 2 August 2019 00:00

United National Party (UNP) MP Bandula Lal Bandarigoda yesterday presented his Private Members’ Bill to abolish the death penalty in Parliament, countering President Maithripala Sirisena’s push to remove the moratorium on the death penalty in Sri

Sri Lanka opens up to the world to boost tourism

Views - 2279 Thursday, 1 August 2019 06:11

Sri Lanka will open up to the world from today, with the implementation of a free visa-on-arrival scheme for six months in order to boost tourism, which is suffering following the Easter Sunday terror attacks. The launch of the initiative was formall

Increase in public savings shows growth: PM

Views - 879 Wednesday, 31 July 2019 00:00

By Maleesha Sulthanagoda Disagreeing with naysayers, Prime Minister Ranil Wickremesinghe yesterday argued that the Sri Lankan economy has expanded over the last four years, with growth of total public savings increasing by over 80% as reflected in b

Billionaire Binod buoys Sri Lanka

Views - 5399 Tuesday, 30 July 2019 00:59

Binod Chaudhary, the Nepalese billionaire and owner of its biggest multinational conglomerate CG Corp Group with investments in Sri Lanka, this week expressed confidence that the island nation can rebound faster post-Easter Sunday setback but require

John to go to Cabinet again to fast-track tourism PR, marketing global campaign

Views - 738 Monday, 29 July 2019 01:44

Tourism Minister John Amaratunga is to go to Cabinet once again to formalise and fast-track the much-delayed public relations (PR) and global promotion campaigns to boost the country’s image post-Easter Sunday terror attacks. The move is after the

Mahinda claims JO was duped into supporting 19A

Views - 703 Saturday, 27 July 2019 05:48

Opposition Leader Mahinda Rajapaksa issued strong criticism against the 19th Amendment yesterday in Parliament when he took part an adjournment debate on the Constitutional reforms in Sri Lanka, moved by the Tamil National Alliance.

Tourism leaders fear worst yet to come

Views - 5088 Friday, 26 July 2019 00:00

By Charumini de Silva With no plans for strategy and promotion to take off yet, private sector tourism leaders yesterday alleged that the ‘worst is yet to come’, as Sri Lanka is heading towards a vicious election cycle by the year end, which is a

Amendments to Companies Act approved by P’ment

Views - 4386 Thursday, 25 July 2019 01:57

The Companies (Amendment) Bill 2019 received House approval yesterday, further reducing the difficulties investors undergo to register a new business in Sri Lanka. Industry and Commerce Deputy Minister Buddhika Pathirana moved the Motion in Parliamen

New laws in Sept. to improve CB independence: Eran

Views - 649 Wednesday, 24 July 2019 00:00

By Ashwin Hemmathagama – Our Lobby Correspondent The Government plans to bring in new laws in September to enhance the scope and the independent decision-making ability of the Central Bank to further regulate the banking and the non-banking sectors

Hayleys says no wrongdoing in free zone operations

Views - 4035 Tuesday, 23 July 2019 02:05

Sri Lanka’s most diversified and exports-dominant blue chip company Hayleys yesterday categorically denied any wrongdoing by its free zone operations and disassociateditself with 102 containers lying at the Colombo Port, both incidents which have r

New laws needed to stop money printing: CB Chief

Views - 1017 Monday, 22 July 2019 01:07

Central Bank Governor Dr. Indrajit Coomaraswamy has backed proposed Amendments to the Monetary Law Act as essential to stop governments making the Central Bank print money, which undermines macroeconomic fundamentals essential to strong growth. Dr.

AG’s Dept. promises to bring ex-CB Chief Mahendran to SL

Views - 786 Saturday, 20 July 2019 00:01

Deputy Solicitor General Priyantha Nawana yesterday asserted before the Special High Court Trial-at- bar that the Government had taken steps to return to Sri Lanka former Central Bank Governor Arjuna Mahendran from Singapore under extradition law. He

SMEs to get loans at lower interest rates soon: CB

Views - 1714 Friday, 19 July 2019 00:00

The Central Bank yesterday said businesses will be able to obtain loans at reduced interest rates, as it expects lending rates to decline over the next few weeks, and that the Monetary Institution will continue to closely observe rates and take furth

Exports rebound in May

Views - 682 Thursday, 18 July 2019 02:31

Exports bounced back in May, posting a 4% gain from a year earlier and dismal 0.4% growth in April, whilst declining imports helped narrow the country’s trade deficit. As per the latest data from the Central Bank, exports grew by 4% to $ 961 milli

SLTPB doubles tour operator incentive to boost tourist arrivals

Views - 1058 Wednesday, 17 July 2019 00:00

By Charumini de Silva The Sri Lanka Tourism Promotion Bureau (SLTPB) is rolling out an initiative to double the incentive provided for inbound tour operators to $ 10 per traveller, in a bid to encourage them to increase tourist traffic and promote th

Today's Columnists

Trendvertising: The new world of communication in a hashtag world

Tuesday, 20 August 2019

Rahul Bose, an Indian actor, caught a lot of attention for a video post that went viral, where he complained about the price of bananas during his stay at a five-star hotel in Mumbai. As he explained in his story – he went to the gym at his hotel w

Company Law intertwined with Income Tax – Understanding the nexus! Part II

Tuesday, 20 August 2019

A comparison and analysing the impact of corresponding provisions of Companies Act No. 7 of 2007 and Inland Revenue Act No. 24 of 2017 reveals invaluable insights corporate management must be aware of in day-to-day management activities as well as st

Will ‘10 February’ be repeated?

Tuesday, 20 August 2019

Whilst Sri Lanka is in election mode, the thought crossing every Sri Lankans mind is, ‘Will the 10 February 2018 elections behaviour be repeated?’ given the head-start that ‘Brand Gota’ has got. Whilst many are speculating who will be the fig

Shanta Devarajan: Economist who cannot get disconnected from his motherland

Monday, 19 August 2019

For me, Shanta Devarajan, formerly the Acting Chief Economist of the World Bank Group succeeding the Nobel Laureate Paul Romer and presently Professor at Georgetown University, USA, was a legend by himself. When I met him in early part of the new mil

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