Onsite evaluation to get SL off FATF grey list

Views - 1088 Tuesday, 26 February 2019 00:33

Sri Lanka is hopeful it will be removed from an international money laundering list following an onsite assessment that is expected in May by the Financial Action Task Force, which could see the country removed from the ‘Grey List’ by June, the C

CB puts ISBs first in quest for debt repayment funds

Views - 988 Monday, 25 February 2019 01:43

The Central Bank has ‘recalibrated’ its strategy to raise funds to repay debt, prioritising International Sovereign Bonds (ISBs)over bilateral arrangements, but the secondary options include a $1.5 billion swap arrangement with People’s Bank of

CB injects liquidity with reserve ratio change

Views - 949 Saturday, 23 February 2019 00:10

The Central Bank yesterday reduced the Statutory Reserve Ratio (SRR) by 1% to 5% with effect from 1 March with the aim of injecting Rs. 60 billion into the market to spur growth and reduce liquidity shortages, but kept policy rates unchanged to offse

Budget will be ‘important and interesting’: Mangala

Views - 1214 Friday, 22 February 2019 00:00

Finance Minister Mangala Samaraweera yesterday said that the upcoming 2019 Budget, the first by the United National Front (UNF) Government following the breakaway of the coalition with SLFP, will be “important and interesting.”

External ecstasy, domestic danger for SL

Views - 1238 Thursday, 21 February 2019 02:37

Global giant Standard Chartered Bank yesterday predicted external factors are likely to be less adversarial for the Sri Lankan economy in 2019, though domestic challenges remain, whilst prospects would be much better next year. Lower oil prices, dovi

Germany calls for more transparency in SL as bilateral ties expand

Views - 1807 Wednesday, 20 February 2019 00:00

Amidst growing bilateral ties, Germany is calling for improved efficiency and transparency in Sri Lanka to achieve a more robust and win-win partnership. “Germany’s footprint in Sri Lanka and vice versa have been growing, resulting in greater bil

RPCs call for new wage model for estate workers

Views - 420 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 - 1071 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 - 436 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 - 771 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 - 1284 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 - 2543 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 - 1045 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 - 2283 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 - 560 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 - 571 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 - 3030 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 - 1424 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 - 1000 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 - 7606 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 - 408 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 - 1567 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 - 2451 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 - 1304 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 - 898 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 - 7581 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 - 1004 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 - 2088 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 - 1937 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 - 1055 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

Today's Columnists

“Sri Lanka’s future lies in producing exportable manufactured goods”: Dr. Howard Nicholas

Monday, 22 July 2019

Drawing lessons from Vietnam’s experiences The Sri Lanka-born economist attached to The Hague based Institute of Social Studies – Dr. Howard Nicholas – addressing a packed audience consisting of the alumni of the Postgraduate Institute of Manag

We should sell our water

Monday, 22 July 2019

When you read the title of this article, you will probably feel disgusted with me as selling our water has been a controversial topic since a long time ago. By the way, I am talking about virtual water trade and you would be surprised to know that we

A voice of compassion amid howls of zealotry

Monday, 22 July 2019

The unrestrained freedom extended by the current regime to a bunch of saffron-clad street vendors of Sinhala Buddhist zealotry is pushing Sri Lanka once again into a cauldron of ethnic and religious convulsion. The nationwide spread and virulence of

Roger Beteille: The man who reinvented the commercial airliner

Monday, 22 July 2019

The visionary engineer, pilot and manager who led Airbus to some its most significant decisions, passed away last month. Beteille, who was the head of French aircraft manufacturer Sud Aviation’s flight testing section, was made technical director

Columnists More