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

Views - 197 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 - 1335 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 - 657 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 - 1009 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

PM wants two years to provide solutions to Tamil issues

Views - 438 Tuesday, 16 July 2019 00:47

Prime Minister Ranil Wickremesinghe yesterday said the Government had been unable to resolve key political issues of the Tamil community over the last four years due to the lack of a clear Parliament majority but assured they will be resolved in the

Terror-hit tourism wants quick moves for proper revival

Views - 834 Monday, 15 July 2019 02:07

The multibillion dollar critical tourism industry hit by the Easter Sunday tragedy is concerned over the slow progress of the previously announced measures to fast-track a quicker revival. There is a fear that a false sense of complacency has arisen

Govt. fast-tracks moves to abolish death penalty

Views - 419 Saturday, 13 July 2019 00:01

The Government yesterday fast tracked its move to have the death penalty abolished in the country by having a private members bill published in the Gazette hours after a motion to this effect was tabled in the House. A private m

MLA amendments to be reviewed by committee of economists

Views - 769 Friday, 12 July 2019 00:00

The proposed amendments to the Monetary Law Act (MLA) are to be reviewed by a committee of economists, after President Maithripala Sirisena voiced concerns about the proposed changes. In a memorandum to the Cabinet, the President said that before the

PM tells P’ment no SOFA, but discussions ongoing

Views - 823 Thursday, 11 July 2019 01:23

Seeking to set the record straight, Prime Minister Ranil Wickremesinghe yesterday confirmed to Parliament that the Government has not signed a new Status of Forces Agreement (SoFA), but that negotiations with the US were ongoing, assuring no deal imp

Airlines welcome reduction in charges

Views - 1532 Wednesday, 10 July 2019 00:00

By Charumini de Silva The airline industry yesterday welcomed the reduction in charges, noting that the move will boost business climate and tourist arrivals. The Cabinet on Sunday gave approval for a slew of charges, including ground handling, aviat

SLPP breathes fire over Sirisena’s fresh move

Views - 4668 Tuesday, 9 July 2019 01:09

The Sri Lanka Podujana Peramuna (SLPP) yesterday warned its members will go before the Supreme Court if President Maithripala Sirisena attempts to seek a fresh clarification on when his term will end as it will delay elections. Speaking to media at t

No SOFA, PM’s Office tells private sector

Views - 2273 Monday, 8 July 2019 01:05

The Ceylon Chamber of Commerce (CCC) was yesterday on the receiving end of some strong words in response to its request for more transparency regarding agreements with the US, with the Prime Minister’s Office saying it regretted the politicisation

SC issues Interim Order against death penalty

Views - 305 Saturday, 6 July 2019 01:20

By S.S. Selvanayagam The Supreme Court yesterday issued an Interim Order preventing implementation of the death penalty till 30 October. The Supreme Court granted Interim Relief directing the Commissioner General of Prisons and the Welikada Prison S

Govt. brews fresh cuppa for estate sector wage hike

Views - 544 Friday, 5 July 2019 00:01

The Government is planning on presenting yet another Cabinet paper to give a daily Rs. 50 allowance to plantation workers, as promised by the Plantation Minister earlier this year, Minister Palany Thigambaram said yesterday. “The Prime M

Govt. flags off $ 2.2 b Light Railway Transit project

Views - 2501 Thursday, 4 July 2019 03:17

Aiming to revolutionise Colombo’s transport system, the Government yesterday launched the $2.2 billion Japanese-funded Light Railway Transit (LRT) project, which Prime Minister Ranil Wickremesinghe said is one of the key ventures by the Government

IGP and ex-Defence Secy. remanded

Views - 660 Wednesday, 3 July 2019 00:00

The Colombo Magistrate yesterday remanded both IGP Pujitha Jayasundara and former Secretary to the Ministry of Defence Hemasiri Fernando until today, for neglecting their duty to prevent the terror attacks on Easter Sunday, which killed over 250 peop

AG directs police to produce IGP, former Def. Sec in court

Views - 496 Tuesday, 2 July 2019 01:34

By Chandani Kirinde Attorney General Dappula De Livera yesterday directed the Acting IGP to produce IGP Pujith Jayasundera and former Defence Secretary Hemasiri Fernando in court saying the two stand accused of “grave crimes against humanity” for

New Ceylon Chamber Chief Dr. Hans sends clarion call

Views - 3124 Monday, 1 July 2019 01:14

Business leader and telecom industry icon Dr. Hans Wijayasuriya, who on Friday was elected as the new Chairman of the country’s premier private sector lobby group, the Ceylon Chamber of Commerce, called on the private sector to unite in driving des

AG indicts 10 bond scam suspects

Views - 537 Saturday, 29 June 2019 00:01

The Attorney General (AG) yesterday filed indictments against former Central Bank Governor Arjun Mahendran, his son-in-law Perpetual Treasuries owner Arjuna Aloysius and eight others before the three-member Permanent High Court Trial-at-Bar. Co-ordin

Difficult operating conditions to stifle bank performance in 2019: Fitch

Views - 870 Friday, 28 June 2019 00:00

Fitch Ratings yesterday said expectation of continued pressure on banks’ financial profiles due to the challenging operating environment, which includes heightened risks, largely on the macro front, with a sharp rise in non-performing loans (NPLs)

Abolishing 19A should be priority: President

Views - 806 Thursday, 27 June 2019 02:32

President Maithripala Sirisena yesterday expressed stern views regarding the 19th Amendment, describing it as a “curse” on the country and insisting abolishing it should be done before the Presidential elections or that must be the first task und

SL’s $ 2 b Bond issue draws big demand

Views - 1165 Wednesday, 26 June 2019 01:59

The Central Bank yesterday said it has raised a $2 billion international sovereign bond to bolster reserves and refinance debt, which was oversubscribed three times and received most interest from fund managers in the US and Europe.

PM pledges to lead charge for investment

Views - 1042 Tuesday, 25 June 2019 00:35

Prime Minister Ranil Wickremesinghe yesterday assured he would lead the charge for stronger investment in the future to fast track economic growth and create new jobs outlining ambitious plans for a host of new investment projects including a renewab

Stakeholders confident of tourism sector recovery, suggest way forward

Views - 1853 Monday, 24 June 2019 00:51

Business tycoon Dhammika Perera on Saturday suggested the private sector must do their own campaigns without waiting for the Tourism Board’s PR and advertising campaign to kick off in July. He noted that arrivals had increased from around 500 a da

Takeover Act reduced value of assets taken over: Malik

Views - 543 Saturday, 22 June 2019 00:01

Development Strategies and International Trade Minister Malik Samarawickrama yesterday welcomed the Parliament decision to repeal the controversial Takeover Act that was implemented during the former Government as a step that would boost investor con

Moody’s revises SL’s growth to 2.6%

Views - 850 Friday, 21 June 2019 00:00

Ratings agency Moody’s yesterday revised Sri Lanka’s grow to 2.6% for 2019, down from 3.4% before the Easter Sunday attacks, and warned that the country faces numerous domestic and external obstacles that could pose challenges to refinance its la

Economy clocks promising 3.7% 1Q growth

Views - 665 Thursday, 20 June 2019 00:00

An across-the-board expansion in Agriculture, Industries and Services propelled first quarter growth in 2019 to 3.7% in the first quarter of 2019, the Census and Statistics Department said yesterday with the strongest showing of 5.5% growth posted by

Trade deficit shrinks further

Views - 979 Wednesday, 19 June 2019 01:47

The country’s trade deficit narrowed significantly in April and in the first four months of this year thanks to dwindling imports and satisfactory export performance. Central Bank yesterday revealed that in April, the deficit in the trade account

Port Chief says new deal for critical ECT best fit and win-win

Views - 959 Tuesday, 18 June 2019 00:10

Sri Lanka Ports Authority (SLPA) yesterday justified the new deal for the crucial East Container Terminal (ECT) was the best fit given the State-owned entity’s need to remain viable and to sustain Colombo’s hub status in South Asia. The Governme

ADB enhances credit for micro and small rural entrepreneurs by $ 50 m

Views - 665 Monday, 17 June 2019 01:37

The Asian Development Bank (ADB), the Government, and the Regional Development Bank (RDB) have signed Loan and Guarantee agreements to further assist Sri Lanka in providing affordable and accessible credit to rural micro, small, and medium sized ente

Today's Columnists

Tea with NM

Saturday, 20 July 2019

One of my most treasured memories is that of NM, better known as Dr. N.M. Perera. It was when I was a student in the UK that I first met him. NM was already a formidable left leader in Sri Lanka, an accomplished parliamentarian, a larger-than-life fi

Biosphere will one day be replaced by technosphere

Saturday, 20 July 2019

I am now nearly 90 and in my lifetime I have seen and heard the world changing so fast that homo sapiens (Latin: “wise man”), the species to which all modern human beings belong, are changing into a technology-dependent sub species, . Homo sapien

Expand employer-backed childcare to close the gender gap in Sri Lanka

Friday, 19 July 2019

In Sri Lanka, women’s formal workforce participation is at only 36%, compared with 75% for men. Sri Lanka could raise its gross domestic product by as much as 20% in the long-run by closing the gender gap in the workforce, according to one estimate

Who should be our next president?

Friday, 19 July 2019

After the recent terrorist attacks and the subsequent violence unleashed against innocent Muslims by racists, Sri Lankans are searching for a leader who can save the country. Many have lost faith in the leaders, due to the breakdown in the security a

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