RPCs call for new wage model for estate workers

Views - 7 Tuesday, 19 February 2019 00:05

As demand for further increases in the plantation workers wage continues, Regional Plantation Companies (RPCs) have called for a new wage structure focusing on a revenue share model that could have sweeping productivity-focused reforms in the entire

New measures to improve ease of doing business

Views - 912 Monday, 18 February 2019 02:27

Encouraged by last year’s success in advancing in the Ease of Doing Business rankings, the Government is set on expediting the automation process aimed at improving systems in key institutions, to further improve the country’s ranking this year.

Adhering to intl. conventions crucial to GSP+: EU

Views - 375 Saturday, 16 February 2019 00:10

Sri Lanka’s continued commitment to 27 international conventions, including maintaining the moratorium on the death penalty, remains crucial to retaining GSP+, the European Union (EU) has said. Releasing a joint statement after the EU and Sri Lank

SL to grow 3.5% in 2019: WB

Views - 646 Friday, 15 February 2019 00:06

Sri Lanka’s growth is expected to recover moderately to 3.5% in 2019, up from 3.1% last year, the World Bank said yesterday, but warned the country will face stiff headwinds from high debt repayments, difficult global environment, and possible poli

PM launches Citra, Sri Lanka’s first Social Innovation Lab

Views - 1050 Thursday, 14 February 2019 02:59

The Citra Social Innovation Lab, co-developed by the Ministry of Science, Technology and Research and the United Nations Development Program, was officially launched under the auspices of Prime Minister Ranil Wickremesinghe yesterday As Sri Lanka’s

Sri Lankan Entrepreneur of the Year 2018

Views - 2217 Wednesday, 13 February 2019 00:00

Prime Minister Ranil Wickremesinghe presents the National Platinum Award (Extra Large Category) to Sakya Higher Education Group Chairman Bandara Dissanayake at the awards ceremony of the annual Sri Lankan Entrepreneur of the Year competition, organis

Sri Lanka and India are two sides of the same coin: Ranil

Views - 968 Tuesday, 12 February 2019 00:20

Reinforcing the importance of stronger ties, especially economic Prime Minister Ranil Wickremesinghe on Sunday described Sri Lanka and India as “two sides of the same coin.” Speaking at the a reception to co

Dhammika Perera prescribes policy dose

Views - 2064 Monday, 11 February 2019 00:51

A data-based approach to policymaking was advocated by well-known businessman Dhammika Perera to rapidly expand Sri Lanka’s economic growth, with special emphasis on education. Perera, speaking at an event organised by the National Intellectuals Or

RPCs reject fresh revisions to new Collective Agreement

Views - 540 Saturday, 9 February 2019 00:20

Plantation companies are opposed to further increases in plantation worker wages, which saw an increase in the basic wage just last month, despite several trade unions initiating fresh negotiations this week.

Speaker rebuts President

Views - 553 Friday, 8 February 2019 00:00

By Ashwin Hemmathagama – Our Lobby Correspondent Speaker Karu Jayasuriya stood strong after President Sirisena’s remarks on the Constitutional Council and its responsibilities, and the widely accepted role of the Human Rights Commission of Sri L

Sweeping changes to Customs in coming months

Views - 3004 Thursday, 7 February 2019 01:33

Finance and Mass Media Minister Mangala Samaraweera lauded reinstated Customs Director General P.S.M. Charles with praise yesterday, expressing full confidence in her abilities to bring the ‘business mafia’ operating in the Port to book, with new

Charles back in charge

Views - 1396 Wednesday, 6 February 2019 00:00

By Chathuri Dissanayake Under pressure from unions and importers, the Government yesterday reinstated Director General of Customs P.S.M. Charles, who was to be replaced by a retired Navy officer. Finance and Mass Media Minister Mangala Samaraweera

President raps politicians for country’s paralysis

Views - 981 Tuesday, 5 February 2019 01:48

President Maithripala Sirisena yesterday during his Independence Day address made a string of political and economic observations focusing on development, fighting corruption, holding provincial council elections and criticised actions during the rec

Sri Lanka celebrates 71st Independence Day

Views - 7258 Monday, 4 February 2019 00:16

All is in readiness for Sri Lanka to celebrate its 71st Independence Day with festivities organised countrywide to mark the occasion. The main event will be held at Galle Face and will be presided over by President Maithripala Sirisena and Prime Mini

UNP moves to form national government

Views - 380 Saturday, 2 February 2019 00:10

Leader of the House Minister Lakshman Kiriella yesterday submitted a motion to the Secretary General of Parliament, informing him that the United National Party (UNP) wishes to form a national government for which it needs parliamentary approval.

Malik says more big ticket investments due in 2019

Views - 1509 Friday, 1 February 2019 00:00

Outlining major plans for 2019 and beyond, Development Strategies and International Trade Minister Malik Samarawickrama yesterday said the Ministry is targeting

Construction cash strapped

Views - 2369 Thursday, 31 January 2019 03:05

Delays in Governm-ent payments for construction projects countrywide, amounting to billions of rupees, has resulted in thousands of construction companies facing hardship with many facing bankruptcy, an industry body warned yesterday.

Tax and policy incentives for Port City soon

Views - 1253 Wednesday, 30 January 2019 00:49

Government incentives given for Port City investors will be announced in the coming weeks, while regulations for the Colombo International Financial City (CIFC) are also to be presented to Cabinet after presentation to the Prime Minister, Economic Re

Limits, depreciation trigger first import dip in 17 months

Views - 878 Tuesday, 29 January 2019 03:28

Restrictions and depreciation have triggered imports to report first ever decline in 17 months in November and help significantly narrow the trade deficit with exports improving by a modest 4.1%.

Govt. enhances Enterprise Sri Lanka loan scheme

Views - 2049 Monday, 28 January 2019 02:15

The Government said yesterday it was expanding the successful Enterprise Sri Lanka concessionary loan scheme, empowering two key segments of the economy. The Finance Ministry said migrant workers would be given up to Rs. 10 million concessionary hous

RPCs and unions reach settlement; estate workers to receive 40% wage increase

Views - 970 Saturday, 26 January 2019 00:10

Closing months of negotiation between plantation worker trade unions and Regional Plantation Companies (RPCs), the two parties reached a settlement yesterday to increase the basic daily wage to Rs. 700, with a Rs. 100 million pledge by the Government

COPE lists SOE losses

Views - 2016 Friday, 25 January 2019 00:00

The first report of the Committee on Public Enterprises (COPE) for the period from 1 July – 30 September 2017 was presented yesterday in Parliament, highlighting key issues with SriLankan Airlines and Milco for continuous losses and mismanagement o

Apparel cracks $ 5 b target

Views - 1898 Thursday, 24 January 2019 03:12

Sri Lanka’s apparel industry has benchmarked itself at new heights, surpassing $5 billion in export earnings in 2018, and is setting its eyes on hitting $8 billion by 2025. The total earnings from export of apparel products falling under HS chapt

War against Fall Armyworm

Views - 894 Wednesday, 23 January 2019 00:45

The Government yesterday announced a host of new measures to intensify the battle against the Fall Armyworm (Spodoptera frugiperda) attacking maize cultivations in the country, to mitigate any possibility of it spreading to other crops, allocating fu

CB calls for managers to raise $ 2 b in bonds

Views - 1170 Tuesday, 22 January 2019 01:01

The Central Bank yesterday issued a request on proposals from investment banks to sell up to $ 2 billion in international sovereign bonds as the Government readies to repay $ 5.9 billion in debt this year. The notice posted on the Central Bank websit

EIU forecasts SL’s growth to be below 5%

Views - 1134 Monday, 21 January 2019 00:52

The influential Economist Intelligence Unit (EIU) is forecasting a growth rate of below 5% for Sri Lanka over the next five years, though it expects a pickup in 2019 in comparison to last year. In its latest Country Report, released recently, the EI

Sri Lanka to grow 3.5%-4%: CCC

Views - 1022 Saturday, 19 January 2019 00:10

The Economic Intelligence Unit of the Ceylon Chamber of Commerce (CCC) expects Sri Lanka to grow by about 3.5% in 2019 buoyed by increased rainfall and stronger consumption but was cautious of

CB to raise over $5b in 1Q

Views - 1802 Friday, 18 January 2019 00:00

The Central Bank is steaming ahead to raise funds for debt repayments, aiming to raise in excess of $5 billion over the next two months from a range of sources, including currency swaps from India, loans from Chinese banks, an international sovereign

Port City is here for all!

Views - 2072 Thursday, 17 January 2019 01:29

The reclamation of the 269 hectares of the Port City was officially completed yesterday, setting the stage for the next phase of seeking investment with officials, saying they would redouble efforts to restart talks stalled during the recent politica

CSE expresses optimism amidst headwinds

Views - 1059 Wednesday, 16 January 2019 00:00

Despite the challenging times ahead, the county’s capital market is optimistic that the progressive line-up measures will continue anticipating sizeable investments to take-off ground this year. Outlining the key elements of the Colombo Stock Excha

Today's Columnists

Discipline and the devil’s disciples

Monday, 18 February 2019

That coach who repeatedly slapped a boy under his care has generated a storm of controversy on social media. On one side are aunties, bleeding hearts, civil rights champions et al who are outraged or at the very least shocked or surprised. On the oth

SL growth profile: Arrest moving down the staircase immediately to avoid hard landing on the floor

Monday, 18 February 2019

Strong message in the Sri Lanka Development Update 2019 Sri Lanka Development Update for 2019 was released by the World Bank last week. This document contains a review by the bank’s residential staff of the present state of the country’s economy

Prudential banking and saga of MTD Walkers

Monday, 18 February 2019

The matters referred to in the article under this title published in the Daily FT (15 February) are spotlighted in more detail under this scrutiny. While the general attention of the public remains more focused on recently arrested underworld kingpin

Minister Wijeyadasa Rajapakshe’s empty rant

Monday, 18 February 2019

Minister Wijeyadasa Rajapakshe (WR) has joined President Sirisena’s reckless verbal onslaught on the Constitutional Council (CC) that was set up by the 19th Amendment (Daily Mirror 15 February). I use “verbal onslaught” intentionally since, as

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