Hemas buys control of Atlas for Rs. 5.7 b

Views - 935 Saturday, 20 January 2018 00:30

Hemas Holdings PLC said yesterday it acquired 75.1% of Atlas Axillia Co Ltd, Sri Lanka’s leading school and office brand, for a consideration of Rs. 5.7 billion. The existing shareholders of Atlas will retain a stake of 24.9% in the company, post-a

PM says Bond probes prove ‘yahapalanaya’ change

Views - 652 Friday, 19 January 2018 00:00

Taking his message straight to the public, Prime Minister Ranil Wickremesinghe yesterday said the unparalleled transparency the bond issue was dealt with

Rajitha quells fears of coalition rift

Views - 1075 Thursday, 18 January 2018 00:53

By Chathuri Dissanayake Cabinet spokesperson Rajitha Senaratne was in full damage control mode yesterday as he denied reports of President Maithripala Sirisena storming out of the Cabinet in protest, following an emotional outburst directed at United

Cabinet chaos!

Views - 3825 Wednesday, 17 January 2018 00:00

An emotional President yesterday walked out of the Cabinet meeting after voicing disappointment over criticism levelled against him by some United National Party lawmakers.

After SC rules five years, President still under fire for asking the question

Views - 2416 Tuesday, 16 January 2018 01:00

President Maithripala Sirisena has continued to be at the receiving end of strong criticism, even after the Supreme Court put an end to speculation about the duration of his term on Sunday (14).

IMF outlines way forward

Views - 402 Monday, 15 January 2018 00:00

Strengthening revenue and public debt management will be the dual challenges before Sri Lanka in 2018, the International Monetary Fund (IMF) has said in its latest evaluation with the implementation of the new Inland Revenue Act in April having a key

IMF says economy normalising but reforms essential

Views - 580 Saturday, 13 January 2018 00:13

The International Monetary Fund (IMF) envisages Sri Lanka’s economy normalising in 2018 with the real GDP growth projected to reach about 4.6% over the medium term; however, the global lender called on the Government to continue its reform process

Six-year term for President Sirisena: AG tells Supreme Court

Views - 2392 Friday, 12 January 2018 00:00

Attorney General Jayantha Jayasuriya yesterday (11) contended that President Maithripala Sirisena could continue his term of office as President for six years

Fracas in Parliament, objects flung at PM

Views - 1195 Thursday, 11 January 2018 00:51

Parliamentary proceedings descended into fisticuffs and name-calling yesterday when a brawl erupted in the House after the Speaker failed to obtain and table the bond report in Parliament.

No parliamentary debate on bond report today

Views - 1342 Wednesday, 10 January 2018 00:00

A decision was reached at yesterday’s party leaders’ meeting that the bond report would not be debated in Parliament today, despite the calls of Opposition parties for a debate.

President, PM resolute on road less travelled

Views - 2050 Tuesday, 9 January 2018 00:10

It was a symbolic opening of a flyover but the leaders of the Coalition Government, marking its third anniversary yesterday, reaffirmed their resoluteness to take the road less travelled for the betterment of the nation.

Ranil exposes MR-era bond scams

Views - 2349 Monday, 8 January 2018 01:00

Kicking campaigning for the upcoming Local Government elections into a new gear, Prime Minister Ranil Wickremesinghe yesterday said the Government would have to pay a whopping Rs. 10 trillion over the next 25 years due to allegedly irregular bond sal

PM follows up on Bond scam

Views - 556 Saturday, 6 January 2018 00:48

A discussion was held at the Prime Minister’s Office yesterday on the recommendations made by the Presidential Commission of Inquiry that investigated the controversial bond issuance of February 2015.

PM says Govt. will probe MR regime bond issues

Views - 960 Friday, 5 January 2018 00:00

Prime Minister Ranil Wickremesinghe’s office yesterday, in response to the President’s statement, backed the findings of the report of the Presidential Commission on the bond issue and said the Government would ensure

No Maithri for ‘Bond Brigade’

Views - 1597 Thursday, 4 January 2018 00:55

President Maithripala Sirisena yesterday revealed to the public recent incidents of corruption and bribery over the issuance of Treasury Bonds as well as serious acts of fraud and abuse of power and state resources, backing key recommendations from s

CB takes over ETI Finance, Swarnamahal Financial

Views - 2898 Wednesday, 3 January 2018 00:00

With a view to safeguard the interests of the depositors and ensure stability of the financial system, the Central Bank yesterday appointed a new management panel to oversee beleaguered ETI Finance Ltd.

Critical advertising blitz to boost tourism kicks off in Feb.

Views - 912 Tuesday, 2 January 2018 00:10

The long-delayed critical digital promotional campaign of Sri Lanka Tourism will take off next month followed by a global advertising drive in May, to boost sagging arrival numbers.

Significant gain in October external sector performance

Views - 472 Monday, 1 January 2018 00:00

The country’s external sector performance in October has shown significant improvement with robust exports and financial inflows helping Balance of Payments surplus and lower imports helping shrink the trade deficit.

US wraps up GSP

Views - 1963 Saturday, 30 December 2017 00:46

The United States yesterday declined to extend its global preferential tariff system, which will now expire on Sunday but the development is likely to have a mixed impact on Sri Lankan exports as it does not cover major sectors such as apparel and te

2017 delivers mixed bag: CB

Views - 1334 Friday, 29 December 2017 00:00

After weathering a rocky year, the Central Bank was cautiously optimistic of Sri Lanka’s prospects yesterday

Swift legal action on Bond scam possible: UPFA

Views - 2027 Thursday, 28 December 2017 00:06

Ahead of the impending report of the Presidential Commission of Inquiry on the controversial Treasury Bond scam, a top Government Minister from coalition UPFA yesterday said legal proceedings on the matter could be fast-tracked since the probe came

New Year to herald SME, Dollar Denominated Boards in CSE

Views - 1075 Wednesday, 27 December 2017 00:00

The Colombo Stock Exchange (CSE) is in the final stage of getting regulatory approval and rules to launch the SME and Dollar Denominated Boards within the first quarter of next year.

Russia lifts ban on Ceylon tea

Views - 581 Tuesday, 26 December 2017 02:04

Christmas Day brought welcome news of the ban imposed by the Russian Federation on all Sri Lankan produced agricultural exports including Ceylon Tea being lifted by the country’s agricultural safety watchdog

SLTDA launches Enforcement Unit

Views - 793 Saturday, 23 December 2017 00:00

The Sri Lanka Tourism Development Authority (SLTDA) yesterday confirmed that it has launched an Enforcement Unit to take action against tourist establishments not registered with the Authority, in a sweeping effort to regulate the informal tourist op

Rs. 4.7 billion Rajagiriya flyover opens on 9 Jan.

Views - 977 Friday, 22 December 2017 00:00

Prime Minister Ranil Wickremesinghe said yesterday that the construction of the Rajagiriya flyover would be completed soon and opened to the public on 9 January next year.

Cabinet nod for $ 1 b financial city complex

Views - 2266 Thursday, 21 December 2017 00:01

By Chathuri Dissanayake The Government yesterday approved a proposal to sign a Memorandum of Understanding (MOU) with CHEC Port City Colombo to develop the Colombo International Financial City building complex valued at $ 1 billion on Sri Lanka’s

Cabinet lifts asbestos ban

Views - 2424 Wednesday, 20 December 2017 00:00

In a bid to create a conducive environment for negotiations to overturn the ban imposed by Russia on Sri Lankan tea exports, Cabinet yesterday decided to defer the asbestos ban until further review, a top Minister confirmed.

Malaysia pledges to fast-track FTA with SL

Views - 613 Tuesday, 19 December 2017 01:04

Visiting Malaysian Prime Minister Mohammad Najib bin Tun Abdul Razak yesterday vowed to strengthen relations with Sri Lanka and increase investment by fast-tracking the proposed Free Trade Agreement (FTA) between the two countries when he met Presid

Sirisena to request Putin to lift tea ban

Views - 1011 Monday, 18 December 2017 00:27

President Maithripala Sirisena yesterday said he would make an official request to his Russian counterpart to resolve a temporary ban on tea imports to Russia that comes into effect from today as Government officials sought a meeting with relevant Ru

3Q GDP growth slows to 3.3%

Views - 560 Saturday, 16 December 2017 00:15

The country’s economy grew by 3.3% in the 3Q driven by services and moderate industry growth but was hampered by lackluster performance in agriculture that showed negative growth of 3.3%, the Census and Statistics Department (CSD) said yesterday.

Today's Columnists

Many roads open

Saturday, 20 January 2018

We have just commenced Yahapalana Year 4. The third anniversary of Yahapalanaya is also the third anniversary of the defeat of the Rajapaksa regime. Both anniversaries coincide happily with the imminence of an island-wide election, the first since 20

Kasur child rape stems from subjugation of women in general

Saturday, 20 January 2018

Since the first week of the New Year, Pakistan has been in turmoil over the abduction, rape and murder of an eight-year-old girl, Zainab, in Kasur, a small town not far from Lahore in the Punjab province.

Demagoguery, deception and decrepitude inherent in most contemporary democracies

Saturday, 20 January 2018

Democracy is well and good as long its erstwhile proponents and players remain committed to high attendant ideals, pursuing with some degree of intelligence and sanity (fast eroding with the ascent of Donald J. Trump). Surely one must be faithful and

Problem is not us women and booze: It’s paternalism and capriciousness in policymaking

Friday, 19 January 2018

The other day the President of Sri Lanka went public expressing his intention to revoke a ministerial order revoking the notion that a woman of any age has no more maturity than a youth less than eighteen years old.

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