Key global wildlife conference shifted from Colombo to Geneva

Views - 1057 Saturday, 15 June 2019 02:20

Value of moratorium sought by tourism biz tops Rs. 60 b

Views - 991 Friday, 14 June 2019 00:00

By Nisthar Cassim The Government-directed moratorium on repayment of capital and interest of tourism sector business borrowing from banks has drawn applications worth over Rs. 60 billion by end May, with the final numbers expected to be far higher. M

Sri Lanka Tourism kicks off revival post-Easter Sunday setback

Views - 2171 Thursday, 13 June 2019 01:00

The tourism and airline industry yesterday unveiled a special four-month promotion campaign to woo tourists from Sri Lanka’s largest source market, India, following the Easter Sunday terror attack setback. Sri Lanka Tourism, in collaboration with S

State-Owned Enterprises’ losses double

Views - 1233 Wednesday, 12 June 2019 00:00

By Chathuri Dissanayake Losses of State-Owned Enterprises (SOEs) doubled in 2018, prompting Finance Minister Mangala Samaraweera to stress the need to rethink continued Government support for those loss-making entities on Monday. “The Government h

Easter Sunday attacks a setback but macro fundamentals not thrown off-track: CB Chief

Views - 1461 Tuesday, 11 June 2019 00:57

Central Bank Governor Dr. Indrajit Coomaraswamy yesterday declared that though the Easter Sunday attacks were a setback to the economy, they have not thrown macro fundamentals off-track, nor is there any basis for growth to dip below 3% in 2019. He g

Tourism sector VAT revised to 7%

Views - 2220 Monday, 10 June 2019 01:19

The Government has issued fresh legislation amending VAT for tourism-related industries to 7% instead of 5% to avoid restrictions on input credit claims after worried industry stakeholders lobbied the Finance Ministry over the changes. The Finance M

AG moves to indict 10 Bond scam suspects

Views - 777 Saturday, 8 June 2019 00:02

The Attorney General has sought a directive from Chief Justice Jayantha Jayasuriya to indict 10 suspects in connection with the 2015 Treasury bond scam, including the former Governor of the Central Bank Arjuna Mahendran, and his son-in-law Arjun Aloy

IGP, ex-Def. Secy admit systemic failures led to terror attacks

Views - 3098 Friday, 7 June 2019 00:00

The Easter Sunday bombing could not be averted due to systemic failures within the security establishment, caused by lack of communication and coordination between different agencies tasked with national security, as well as a lackadaisical attitude

Global tea campaign to start in August

Views - 783 Thursday, 6 June 2019 01:39

The long-delayed tea Global Marketing Campaign is set to launch in the first week of August in Russia and Ukraine, with plans to carry out the program in China and Japan later this year.

Govt. sans Muslim leaders not positive: PM

Views - 1811 Wednesday, 5 June 2019 00:00

Prime Minister Ranil Wickremesinghe yesterday said that the collective resignation of Muslim leaders was not a positive development for the country and pointed out this was the first time since independence that a Sri Lankan government was functionin

Muslim leaders resign en masse

Views - 3725 Tuesday, 4 June 2019 00:02

Eight Muslim members of the Government, including three Cabinet Ministers, resigned from their posts yesterday, along with Industry and Commerce Minister Rishad Bathiudeen, whose removal was demanded to enable impartial investigations on the Easter S

Time to get down to business: CB Chief

Views - 848 Monday, 3 June 2019 01:38

As the country returns to normalcy, Central Bank Governor Dr. Indrajit Coomaraswamy was largely optimistic of growth prospects and called for the business community to make the most of the latest changes in policy rates to promote business activity.

CB slashes rates by 50 basis points

Views - 584 Saturday, 1 June 2019 00:05

Responding to sluggish growth, the Central Bank yesterday decided to reduce policy interest rates by 50 basis points to induce a swift and sizeable reduction in market lending rates. The Monetary Board of the Central Bank of Sri Lanka, at its meeti

Govt. launches relief for informal tourism sector

Views - 1261 Friday, 31 May 2019 00:00

Finance Minister Mangala Samaraweera yesterday said a new loan scheme will be introduced to assist informal tourism sector stakeholders to recover from the Easter Sunday attacks. Speaking to reporters at the Finance Ministry, Samaraweera said that t

Government launches e-Procurement system

Views - 1682 Thursday, 30 May 2019 00:00

By Uditha Jayasinghe The Finance Ministry yesterday launched the Electronic Government Procurement (e-GP) system, which aims to improve transparency and competitiveness as well as save public funds when goods and services are purchased by the Gover

Imports dip 19.3% in 1Q

Views - 1126 Wednesday, 29 May 2019 01:52

Imports dropped a steep 19.3% in the first quarter of 2019, even though export earnings increased by 5.6% year-on-year as the trade deficit contracted to $ 1,661 million from $ 2,982 million recorded in the first quarter of 2018, the Central Bank sai

Economy and security at core of SL future

Views - 2593 Tuesday, 28 May 2019 01:15

By Uditha Jayasinghe Promoting and protecting Sri Lanka’s economy and security was placed at the core of multi-dimensional challenges facing the country by Army Commander Lt. General Mahesh Senanayake yesterday. Delivering the keynote address tit

Leisure-hit JKH says outlook for other biz “positive”

Views - 1059 Monday, 27 May 2019 02:16

Premier blue chip John Keells Holdings (JKH) remains positive of its prospects despite the Easter Sunday terror attacks-triggered setback on its giant leisure segment and muted economic growth impacting performance in the just-concluded FY19. “It

MR calls on Govt. to broaden post-Easter Sunday economic relief

Views - 383 Saturday, 25 May 2019 00:01

Opposition Leader Mahinda Rajapaksa proposed the Government launch a special economic package targeting those who lost their livelihoods due to the Easter Sunday attacks. According to Rajapaksa, the economy took a serious blow with almost all industr

Tourism wails over VAT cut volley

Views - 2280 Friday, 24 May 2019 00:00

The terror-struck tourism industry is now faced with a fresh dilemma, as the much-lauded reduction of Value Added Tax (VAT) from 15% to 5% would in fact give more problems than relief. On the face of it, though the reduction of VAT from 15% to 5% ref

Govt. to revise 2019 Budget

Views - 1213 Thursday, 23 May 2019 03:30

The Government is to revise the 2019 Budget, given the Easter Sunday setback and other external and internal challenges. State Finance Minister Eran Wickramaratne told the Daily FT yesterday the review will be completed by June, and the revised Budge

Govt. repeals MR’s controversial Takeover Act

Views - 2267 Wednesday, 22 May 2019 00:00

By Ashwin Hemmathagama – Our Lobby Correspondent The Government moved a new law to repeal the Revival of Underperforming Enterprises of Underutilised Assets Act No.43 of 2011 yesterday in Parliament, seeking House approval. Even though the Act will

New take-off for UL

Views - 3124 Tuesday, 21 May 2019 00:00

By Chandani Kirinde An Expert Committee appointed for obtaining recommendations for the restructuring of the Sri Lankan Airlines (SLA) has proposed the establishing of an independent board and management by separation of Government’s ownership of S

Terror will slow growth and raise credit risks: Fitch

Views - 696 Saturday, 18 May 2019 00:02

The tragic Easter bombings in Sri Lanka will result in lower economic growth this year and could increase external financing pressures, Fitch Ratings said in their latest update, but indicated such pressures were mitigated by the Government’s conti

Muslim leaders espouse middle path

Views - 1880 Friday, 17 May 2019 00:00

In the wake of anti-Muslim attacks this week, representatives of the community yesterday appealed for moderates of all religions to step up to foster inter-communal harmony, insisting that violence was detrimental to all Sri Lankans.

MR unhappy with Govt.

Views - 1388 Thursday, 16 May 2019 00:00

Opposition Leader Mahinda Rajapaksa yesterday said he remained dissatisfied with the steps taken by the Government following the Easter Sunday attacks, but is ready to support meaningful decisions. A short statement released by the Opposition Leader

Tension ticks as security forces, police tackle mobs

Views - 4951 Wednesday, 15 May 2019 03:23

The Police yesterday remanded 33 people linked to widespread anti-communal attacks, which erupted countrywide as Prime Minister Ranil Wickremesinghe renewed appeals for the public to cooperate with security forces and Police to restore calm.

Curfew imposed as clashes erupt

Views - 5790 Tuesday, 14 May 2019 00:00

As mob violence escalated yesterday, the Government clamped down imposing an islandwide curfew and blocked social media sites as clashes erupted across three districts and the Government appealed for calm. As security forces struggled to contain the

Crucial bankers meeting today over terror-hit tourism

Views - 1588 Monday, 13 May 2019 00:43

Finance Minister Mangala Samaraweera will chair a crucial meeting with the Central Bank and commercial banks CEOs today, to address concerns raised by the travel and tourism industry over the financial relief package announced last week and subsequen

No technical feasibility for proposed 200 MW barge power

Views - 983 Saturday, 11 May 2019 00:01

The report by the Technical Evaluation Committee on 200 MW barge mounted power ship proposed to be set up in Kerawalapitiya has said it was not technically feasible to connect the supply to the existing transmission line.

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

Columnists More