Opaque import tax exemptions pave way for abuse: Report

Views - 524 Tuesday, 21 August 2018 00:00

Sri Lanka’s import tax exemption schemes are too opaque, resulting in them being open to abuse and corruption, a case study by a prominent think tank has found, with decisions frequently subject to officials’ discretion as regulations are unavail

China projects steam ahead

Views - 2317 Monday, 20 August 2018 00:00

China is confident of completing their multiple investments in southern Sri Lanka with the fourth phase of the highway from Mattala Airport to the Hambantota Port and the Matara-Beliatta railway extension likely to be completed by January 2019, top o

Major achievements in three years: PM

Views - 588 Saturday, 18 August 2018 00:00

Despite treading a difficult path the Government still managed to reach significant achievements in governance, macroeconomic stabilisation, debt reduction and development, Prime Minister Ranil Wickremesinghe said yesterday, recapping key measures ad

B’desh beckons SL

Views - 882 Friday, 17 August 2018 00:20

A host of investment opportunities exist for Sri Lankan corporates in Bangladesh, top officials from both countries said yesterday, calling for local businesses with long-term ambitions to venture into the nation of 160 million people.

Digital blitz to boost SL tourism

Views - 1013 Thursday, 16 August 2018 00:55

By Chathuri Dissanayake The long-awaited digital campaign for tourism got Cabinet nod this week with approval to awarding contracts for promotional work in three different countries. The Government this week approved awarding the contract for the di

Siyambalapitiya defends Power Purchase Agreements

Views - 678 Wednesday, 15 August 2018 00:20

Hot on the heels of the Committee on Public Enterprise (COPE) summoning the Ceylon Electricity Board (CEB) to investigate three Power Purchase Agreements (PPAs), Power and Renewable Energy Minister Ra

Tourism bets big with Alibaba

Views - 1942 Tuesday, 14 August 2018 00:31

By Charumini de Silva A tie-up with Chinese e-commerce giant Alibaba to attract 1,000 travellers weekly, launching the long delayed $ 3.5 million digital campaign, extending the CNN promotion and launching special offers to fatten the off-peak season

140-year-old giant Hayleys optimistic of greater growth

Views - 1252 Monday, 13 August 2018 01:57

The most diversified export cum manufacturing rich blue chip, Hayleys Plc, which marks 140 years this year, is optimistic of greater progress moving forward, with first quarter results showing strong growth.

Mangala resolute against strikers

Views - 1147 Saturday, 11 August 2018 04:51

Resolute to not give in to the trade unions’ demands, Finance Minister Mangala Samaraweera yesterday called on the private bus owners to help the Government to provide transport for all rush hour commuters.

PM says improved democracy justifies P’ment commissioners’ allowance hike

Views - 282 Friday, 10 August 2018 00:10

The establishment of independent commissions under the Unity Government has elevated democracy to new heights and garnered global accolades, Prime Minister Ranil Wickremesinghe told Pa

Development projects fail set targets

Views - 1121 Thursday, 9 August 2018 00:57

By Chathuri Dissanyake Almost half of the Government’s development projects and programs managed under 47 line ministries have not reached at least 50% of quarter one targets, the Finance Ministry reported to Cabinet this week. Presenting the rep

Decision on Opp. leader this week

Views - 621 Wednesday, 8 August 2018 00:00

Speaker Karu Jayasuriya informed Parliament yesterday that the final decision on the Opposition leader position would

Approval documents on Rs. 46.4 b of UL bonds missing: Official

Views - 520 Tuesday, 7 August 2018 00:10

SriLankan Airlines issued bonds worth over Rs. 46.4 billion from 2011 to 2013, but the documents pertaining to the issuer currently could not be found, the Presidential Commission of Inquiry (PCoI) to inves

CB downgrades 2018 growth forecast

Views - 918 Monday, 6 August 2018 00:29

In the backdrop of modest growth and a challenging external environment, the Central Bank has decided to keep policy rates unchanged, voicing expectations for the first half of 2018 to grow about 3.5% to eventually end the year at 4%, behind the init

CB keeps rates steady

Views - 422 Saturday, 4 August 2018 00:10

The Central Bank yesterday decided to keep policy rates steady on moderate inflation, high interest rates and challenging external environment, with projections showing Sri Lanka would experience around 4% growth in 2018. The latest update to the

Mangala’s microfinance mantra

Views - 1109 Friday, 3 August 2018 00:00

Finance Minister Mangala Samaraweera yesterday outlined fresh measures for the microfinance industry that include

Govt. ups tax on small and eco-friendly cars

Views - 1320 Thursday, 2 August 2018 00:00

The Finance Ministry yesterday revised upwards the excise duty levied on vehicles with engine capacity less than 1000cc, to control the heavy outflow of foreign exchange. Accordingly, the duty on vehicles with less than 1000cc engine capacity has bee

Prices of 25 more drugs slashed

Views - 898 Wednesday, 1 August 2018 00:00

Health Minister Dr. Rajitha Senaratne yesterday slashed the prices of 25 additional drugs, including cancer medication

Govt. to split tender for BIA Terminal 2 to reduce cost

Views - 1777 Tuesday, 31 July 2018 00:13

By Chathuri Dissanayake After negotiations with bidders to match the Engineer Estimate for the extension of Bandaranaike International Airport (BIA) failed, the Transport and Aviation Ministry is now seeking approval to split the tender, with aims to

JKH begins FY19 with dip in profit

Views - 1208 Monday, 30 July 2018 00:54

Premier blue chip John Keells Holdings PLC (JKH) has begun the 2018/19 financial year (FY) with a dip in profit, reflecting challenging economic....

Moody’s affirms Sri Lanka’s ratings at B1; maintains negative outlook

Views - 520 Friday, 27 July 2018 00:00

Moody’s Investors Service yesterday affirmed Sri Lanka’s foreign currency issuer and senior unsecured ratings at B1 and maintained the negative outlook.

Rs. 500 m boost for Ceylon Tea promotion

Views - 514 Thursday, 26 July 2018 00:38

By Chathuri Dissanayake Government this week decided to extend the brand promotion scheme available for Sri Lankan-owned tea brands selling under the Pure Ceylon Tea label for 2018/2019, allocating Rs. 500 million. The extension of the scheme was app

Professionals need soul-searching

Views - 691 Wednesday, 25 July 2018 00:00

Professional associations are among local stakeholders that restrict progressive policies on education as they are focused

ITC hails SL trade policies, but counsels faster pace

Views - 648 Tuesday, 24 July 2018 00:12

By Charumini de Silva Strong commitment by the public and private sectors to increase capacity of local exports and improve trade performance and competitiveness augurs well for Sri Lanka to become a successful modern economy, believes International

Export growth outpaces import gain in May

Views - 972 Monday, 23 July 2018 00:48

Exports growth in May outpaced that of imports, though the latter weighed heavily in the cumulative first five months performance, widening the trade deficit further.

SL’s online trade portal goes live

Views - 996 Saturday, 21 July 2018 00:10

Completing a major milestone in its WTO Trade Facilitation Plan and kicking off one of the biggest projects in its international trade history, Sri Lanka officially unveiled its Trade Information Portal (TIP) yesterday.

Govt. launches landmark five-year National Export Strategy

Views - 1252 Friday, 20 July 2018 00:00

Opening a new chapter to link local exports to global value chains, Prime Minister Ranil Wickremesinghe yesterday launched

Govt. amends NBT

Views - 2406 Thursday, 19 July 2018 00:21

By Ashwin Hemmathagama Parliament yesterday approved the Nation Building Tax (NBT) (Amendment) Bill with changes allowing several sectors to be exempted from NBT to increase entrepreneurship opportunities and foster economic growth. Moving the Nati

SL-Singapore FTA need of the hour: Malik

Views - 994 Wednesday, 18 July 2018 00:00

The Free Trade Agreement (FTA) signed between Sri Lanka and Singapore to liberalise and facilitate trade and investments

Probe into MR’s Presidential campaign funds still on: PM

Views - 1015 Tuesday, 17 July 2018 00:18

Prime Minister Ranil Wickremesinghe yesterday denied any suspension of investigations into alleged transfer of funds during the 2015 presidential election, a statement made by the Prime Minister’s Office said. Addressing the Parliamentary group of

Today's Columnists

Identifying traitors: I cannot wait until Dr. Padeniya presents his point scheme

Tuesday, 21 August 2018

Cause for excitement I am excited! A way of identifying and measuring a traitor is soon to be unveiled; by no less than the President of the GMOA! Hasn’t he also qualified in some department of neurology? All the more reason to justify my excitemen

The evils of translocating wild elephants

Tuesday, 21 August 2018

The subject of translocating wild elephants has been a much-debated topic recently, after the Department of Wildlife Conservation (DWLC), acting on the orders of the Minster for Wildlife, wanted to move the only two wild elephants habituating the Sin

Singapore miracle – How SL could benefit from trade with Singapore

Monday, 20 August 2018

According to a media report released by President’s Media Division, a committee of experts has been appointed by the President to examine and report on ‘the practical impact and use of the proposed officer policy guidelines and recommendations on

High NPAs in SME sector: Who is responsible?

Monday, 20 August 2018

Non-Performing Assets (NPAs) of the banking sector have been increasing in the recent past. Gross NPA ratio reached about 3.3% as at end of May2018 recording an increase of about 0.8% over the past five months.

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