Economic challenges an opportunity for change: PM

Views - 0 Thursday, 18 October 2018 00:49

Says SL not unique in currency depreciation but can use present situation to transform into export-oriented economy Steadfast dedication to improving economic competitiveness, liberalisation Retail sector development essential to foster growt

Budget 2018 mired on implementation

Views - 1131 Wednesday, 17 October 2018 00:00

Budget 2018 has failed to deliver on transparency and implementation with only 8% of 38 major proposals worth Rs. 149 billion on target, with 33% categorised as either broken, neglected or undisclosed, think tank Verité Research said yesterday.

Govt. should guard against policy backsliding: IPS

Views - 972 Tuesday, 16 October 2018 00:26

Sri Lanka’s Government should fight against policy backsliding and remain focused on export and investment driven growth strategies as the already beleaguered economy heads towards deepening political and economic challenges next year, hampered by

Nimal returns to stock market

Views - 4582 Monday, 15 October 2018 01:11

High net worth investor Nimal Perera is back in the Colombo stock market having invested over Rs. 2 billion in recent months, accumulating mostly blue chips that are trading at a bargain.

Nalin Perera sworn in as new CJ

Views - 862 Saturday, 13 October 2018 00:10

Senior Supreme Court Justice Nalin Perera took oaths as the new Chief Justice before President Maithripala Sirisena at the President’s Official Residence yesterday. He was nomin

Longer wait for digital ID

Views - 862 Friday, 12 October 2018 00:00

By Ashwin Hemmathagama – Our Lobby Correspondent The lacunae in laws governing digital verticals and databases in Sri Lanka will result in a further delay in issuing of digital identity cards. Minister of Telecommunication, Digital Infrastructure a

Dhammika shows way out of middle income trap

Views - 4102 Thursday, 11 October 2018 00:00

By Charumini de Silva and Ruwandi Gamage Business tycoon Vallibel One Plc Chairman Dhammika Perera yesterday said quality education to a wider audience was the only solution to escape the middle-income trap, a well-kept secret that many developed eco

Mangala adamant economy remains buoyant

Views - 921 Wednesday, 10 October 2018 00:00

By Charumini de Silva Rebuking Opposition claims, the United National Party (UNP) yesterday said the economy was not facing a crisis but the Government was enacting sustainable policies as opposed to dangerously populist measures. “We assure that

Ranil kicks off trading at London Stock Exchange

Views - 3241 Tuesday, 9 October 2018 00:11

By Nisthar Cassim in London Giving a fresh impetus to longstanding and growing bilateral ties with the United Kingdom, Prime Minister Ranil Wickremesinghe yesterday inaugurated the trading of the London Stock Exchange (LSE), one of the world’s olde

Fresh push to woo UK investors to SL

Views - 1484 Monday, 8 October 2018 00:00

Capital market stakeholders will make a fresh push this week to woo new investments from Europe into listed Sri Lankan companies via two forums in London and Edinburgh.

Not against free trade but SL must have proper FTAs: GMOA

Views - 513 Saturday, 6 October 2018 00:10

The Government Medical Officers Association (GMOA) this week called on the Government to develop a properly-formulated International Trade Agreement Policy before entering into Free Trade Agreements (FT

Women speak up ahead of Budget 2019

Views - 2837 Friday, 5 October 2018 00:00

By Charumini de Silva In a first-of-its-kind forum, 26 top female professionals yesterday spoke out on a multitude of issues confronting them and the economy and shared their ideas and recommendations for the Government to considerahead of next month

Fitch says new import rules hurt consumer durable retailers

Views - 887 Thursday, 4 October 2018 01:27

Fitch Ratings yesterday said Sri Lanka-based consumer durable retailers’ operating cash flow is likely to weaken following new Government regulations that impose a 100% cash margin on the import of most types of consumer durables. It said the credi

CB Chief confident despite currency crunch

Views - 1641 Wednesday, 3 October 2018 00:00

By Nisthar Cassim With a raft of measures taken and additional inflows in the offing, the Central Bank yesterday reiterated its reassurance on the rupee and the economy whilst claiming that the excessive public and political furore over the currency

UDA invests Rs. 25 b

Views - 1446 Tuesday, 2 October 2018 00:18

Megapolis and Western Development Minister Patali Champika Ranawaka yesterday revealed that the Urban Development Authority (UDA) has invested over Rs. 25 billion this year, and rolled out a program envisaging a Rs. 200 billion investment to provide

MNCs speak up

Views - 1339 Monday, 1 October 2018 01:45

Leading Multinational Corporations (MNCs), who have brought substantial value to the country over the past 100 years, on Friday spoke up, highlighting the promising future of Sri Lanka which could be translated into greater socioeconomic development

IMF happy but wants faster progression in SL

Views - 403 Saturday, 29 September 2018 00:11

The International Monetary Fund (IMF) signalled it was satisfied with Sri Lanka’s economic stabilisation program, while urging an advanced revenue-based fiscal consolidation in the 2019 Budget to support greater progress with accelerated reforms to

I am media’s favourite punching bag: Ranil

Views - 406 Friday, 28 September 2018 00:00

Prime Minister Ranil Wickremesinghe evoked Voltaire last evening as he defended the extent of media freedom in the country, while at the same time poking fun at some of the negative press coverage that has followed him since taking office three years

Costly burns via LPG

Views - 735 Thursday, 27 September 2018 00:59

By Charumini de Silva Considering the rising world market prices and rupee depreciation, Litro Gas Lanka Ltd. yesterday said it would increase the price of a 12.5kg domestic LP gas cylinder by Rs. 195 from today. In addition, prices of the 5kg domest

Mangala musters patriotism

Views - 1899 Wednesday, 26 September 2018 00:00

In a bid to curtail further rupee depreciation, Finance Minister Mangala Samaraweera yesterday called on people to buy more local products, limiting the importation of luxury items and vehicles. Releasing a statement to the media, the Finance Ministe

Ranil resolute to ride over global economic crisis impact on SL

Views - 807 Tuesday, 25 September 2018 00:00

Prime Minister Ranil Wickremesinghe has urged the need to move towards an export economy from a debt economy, which the Government inherited due to ill-conceived policies of the previous regime. “We are facing a currency crisis because we have inhe

CB intervention pulls rupee back from record low

Views - 1583 Saturday, 22 September 2018 00:10

Reuters: The rupee hit a record low for an eighth straight session on Friday, but closed the session firmer following intervention by the Central Bank, market sources said. The Central Bank will intervene aggressively to curb excess volatility in the

Crux of currency crisis!

Views - 7689 Friday, 21 September 2018 00:00

By FT News Desk Central Bank Governor Dr. Indrajit Coomaraswamy yesterday declared the rupee was under pressure more due to exogenous factors, but reassured it would ease as a follow up to ongoing stabilisation measures whilst being wary of overly a

Appropriation Bill approved by Cabinet

Views - 948 Thursday, 20 September 2018 02:22

By Chathuri Dissanayake Government this week approved the Appropriation Bill proposed by Finance Minister Mangala Samaraweera, to be presented in Parliament during the second week of October, Cabinet Co-spokesperson Gayantha Karunathilaka said yester

Economy recovers to 3.7% growth

Views - 1019 Wednesday, 19 September 2018 00:00

The country’s economy has recovered in the second quarter to manage a 3.7% growth, higher in comparison to 3% a year earlier but marginally above 3.5% gain in the first quarter.

Big boost for foreign investment into listed companies

Views - 2838 Tuesday, 18 September 2018 00:15

Foreign investments into listed companies are set to get a big boost following the recent amendment to the Land Restrictions on Alienation Act.

PM calls on private sector to get involved in education reform

Views - 705 Monday, 17 September 2018 00:45

Prime Minister Ranil Wickremesinghe on Friday (14 September) called on the private sector to set up educational institutions to cater to the emerging needs of the economy, while insisting that the Government would provide funding for students.

President slams CID, AG for inaction

Views - 1985 Saturday, 15 September 2018 00:10

President Maithripala Sirisena yesterday slammed the conduct of the Criminal Investiga- tions Departmen

No change in policy direction: Eran

Views - 662 Friday, 14 September 2018 00:00

Despite global challenges, twin deficits and slow growth, the Government remains dedicated to its reform policies centered on fiscal consolidation and liberalisation, State Minister of Finance Eran Wickramaratne said yesterday, ruling out a change of

SL not in Chinese debt trap: PM

Views - 927 Thursday, 13 September 2018 00:00

Prime Minister Ranil Wickremesinghe yesterday denied that Sri Lanka was in danger of spiralling into a debt trap from excessive Chinese borrowing, and insisted the country was not “under threat” from trade tensions between US and China. Speaking

Today's Columnists

Finishing the job of ending poverty in South Asia

Thursday, 18 October 2018

“I have a four-year-old son back in my village. I want to make a better life for him,” says Sharmin Akhtar, a 19-year-old employee in one of Dhaka’s many flourishing garment factories. Like thousands of other poor women, Sharmin came down to B

Depreciating rupee: Avoiding a money-go-round

Wednesday, 17 October 2018

Sri Lanka’s excessive reliance on foreign capital to finance investment under favourable external financial conditions is now leading to disruptions, as those conditions change in a decisive interest rate tightening phase in the United States. As U

Responsible water stewardship in Sri Lanka

Wednesday, 17 October 2018

Unlike many of our regional neighbours, Sri Lanka is blessed with an abundant water table. However, many companies do not feel the full value of this precious resource due to the limited regulation and monitoring of fresh water extraction for busines

Economy in disarray, banks flourishing; can this be true?

Wednesday, 17 October 2018

It is earlier reported that the growth in bank credit accelerated in August despite the tight credit and money conditions and rising non-performing loans in the banking sector. It is further reported that the year-on-year (YoY) growth in credit accel

Columnists More