Public auctions were needed to meet ‘stunningly large’ requirements: Mahendran

Views - 1859 Wednesday, 20 September 2017 00:00

Testifying before the Presidential Commission of Inquiry on the controversial bond issuance yesterday, former Central Bank Governor Arjuna Mahendran said he had recommended public auctions over private placements for treasury bonds taking into accoun

Transactions not fictitious: PTL CEO

Views - 2101 Tuesday, 19 September 2017 00:41

After weeks of cross-examination, Perpetual Treasuries Ltd. (PTL) CEO Kasun Palisena was re-examined by PTL’s counsel yesterday at the Presidential Commission of Inquiry into the controversial bond issuance.

IKEA inspired Hayleys’ Dhammika to comfort more homes with Singer

Views - 3660 Monday, 18 September 2017 00:54

The world’s most iconic home furnishing brand IKEA is said to have inspired business leader Dhammika Perera to take control of Singer Sri Lanka Plc via the biggest listed corporate acquisition worth over Rs. 11 billion last week.

Govt. ready for great growth leap: PM

Views - 830 Saturday, 16 September 2017 00:06

Hailing the Board of Investment (BOI) celebrating four decades, Prime Minister Ranil Wickremesinghe yesterday said his Government together with President Sirisena was preparing for a great leap forward in investment and exports to catapult Sri Lanka

Perpetual CEO denies knowledge of ‘powerful friends’

Views - 999 Friday, 15 September 2017 00:10

Claiming ignorance on the identity of the “powerful friends” who are said to have relayed confidential, price-sensitive information to former Director Arjun Aloysius,

Designer development Budget!

Views - 1495 Thursday, 14 September 2017 00:28

As the days tick down for Budget 2018, Finance Minister Mangala Samaraweera yesterday pledged to present an overarching policy framework that would concentrate on greater liberalisation and reforms as well as promote entrepreneurship, expand key sect

Infrastructure-sharing entity to speed up broadband

Views - 846 Wednesday, 13 September 2017 00:10

The Government yesterday confirmed it would set up an infrastructure-sharing entity which will be brought under the purview of the Telecommunication and Digital Infrastructure Ministry to speed up digitisation for envisaged economic growth.

Go for growth PM tells private sector

Views - 1160 Tuesday, 12 September 2017 00:08

The next two years will be crucial for Sri Lanka’s debt management, said Prime Minister Ranil Wickremesinghe yesterday while calling on the private sector to use technology to find new avenues for growth.

Sri Lanka swipes its way to Visa’s second fastest growing market in South Asia

Views - 1006 Monday, 11 September 2017 08:10

With more people opting for digital payments, Sri Lanka has become the second fastest growing market for Visa in terms of volume within South Asia.

Gazette soon to make uncultivated private and Govt. lands productive: President

Views - 185 Monday, 11 September 2017 08:00

President Maithripala Sirisena on Saturday said a gazette notification will be issued under existing laws to give all private lands which are not cultivated to those who are willing to cultivate them.

PM drives new Central Highway

Views - 1204 Saturday, 9 September 2017 00:00

Prime Minister Ranil Wickremesinghe yesterday rejected allegations of corruption made against his Government over the construction of the Central Highway third stage by involving Japanese firms and gave a detailed explanation of the tender process an

SL gets new Inland Revenue Act

Views - 1833 Friday, 8 September 2017 00:00

Lawmakers passed the new Inland Revenue Bill yesterday in Parliament, allowing the Government to scrap the complicated tax system and establish a “fair but transparent” tax policy for Sri Lanka with plans to increase Government revenue from direc

PM woos SAARC investors

Views - 626 Thursday, 7 September 2017 00:00

Prime Minister Ranil Wickremesinghe yesterday detailed development plans and the economic framework his Government has for Sri Lanka to woo 250 SAARC investors, as well as calling for more trade and investment cooperation between the South Asian bloc

Govt. spruces up 20th Amendment

Views - 1100 Wednesday, 6 September 2017 00:00

The Government made a crucial breakthrough yesterday by winning provisional support from the Tamil National Alliance (TNA) and the Sri Lanka Muslim Congress (SLMC) for the 20th Amendment to the Constitution.

Vision 2025 launched

Views - 1745 Tuesday, 5 September 2017 00:00

Presenting a united front, President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe yesterday jointly unveiled the Government’s policy framework titled ‘V2025: A Country Enriched’, which detailed the broad goals that the two parti

Debt next major task of Govt, says President

Views - 388 Monday, 4 September 2017 00:58

As Sri Lanka prepares for higher debt repayments over the next few years, President Maithripala Sirisena yesterday said meeting loan obligations would be the second phase of the tasks the Coalition Government has set for itself.

Banking system outlook negative: Moody’s

Views - 1077 Friday, 1 September 2017 00:00

Moody’s Investors Service says that the outlook for Sri Lanka’s banking system is negative, with both asset quality and profitability under pressure.

President says Govt. here to stay till 2020

Views - 457 Thursday, 31 August 2017 00:00

Quashing speculation over the fate of the Coalition Government, President Maithripala Sirisena yesterday backed it to continue till 2020, pointing out that the parliamentary composition demanded it and insisted he would continue his term to the end.


Views - 879 Wednesday, 30 August 2017 00:59

The crumbling performance of Sri Lanka Cricket one of the most prominent brands of the country got a fresh jolt yesterday with all the selectors resigning in an unprecedented development welcomed by most enthusiasts of the game.

John backs higher interest subsidy for revamp of hotels

Views - 441 Tuesday, 29 August 2017 00:16

Hoteliers find it hard to meet present cost structures to refurbish and upgrade facilities Minister to make fresh appeal to Finance Ministry Confirms more international hotel chains to enter SL Confident of SL achieving 2.5 m arri

Export growth gathers pace

Views - 707 Monday, 28 August 2017 00:22

June marks gain for fourth consecutive month  Export of two vessels boosts industrial goods shipment Agriculture, seafood exports up   First half export value up 5% to $ 5.4 billion

Inland Revenue Bill no show in P’ment

Views - 802 Saturday, 26 August 2017 00:24

Govt. defers tabling of new Bill in P’ment citing insufficient time  To be presented at next P’ment meeting on 6 September, same day vote likely   By Uditha Jayasi

ADB eyes $ 5 b support for SL

Views - 885 Friday, 25 August 2017 00:00

  New country partnership strategy for 2018-2022 to focus on strengthening drivers of growth by promoting diversification of economic activities and productivity enhancement   By Charumini de Silva T

No maithri for Justice Minister!

Views - 783 Thursday, 24 August 2017 00:17

President sacks Wijeyadasa Rajapakshe; gives in to UNP demand Wijeyadasa justifies speaking against Govt’s new Chinese deal on Hambantota Port Claims there is no greater shame than staying in a Cabinet which s

Govt. mulls action on NPP

Views - 804 Wednesday, 23 August 2017 00:00

  Harsha tells P’ment action can be taken based on investigation report received on Monday Says he told ICTA Chairperson to stop NPP-related matters  PM and his Secretary kept informed,&

MR to vote against Inland Revenue Bill

Views - 501 Tuesday, 22 August 2017 00:08

Calls on all SLFP members to oppose the proposed legislation as it would undermine local economy and public interest  Shifting from politics to economics, former President Mahinda Rajapaksa yesterday opposed the Inlan

Tea to brew Rs. 8 b new revenue model

Views - 820 Monday, 21 August 2017 00:00

Stakeholders to meet Minister to discuss issues this week  Funds allocated by Govt. for replanting, research and promotions inadequate  Tea Board Chairman says stakeholders should chip in to sustain industry&nb

AG's latest salvo to save Audit Bill

Views - 947 Saturday, 19 August 2017 00:43

Dept. unable to carry out regular operations smoothly due to lack of legislations  Short staffed, department unable to promote, hire or give salary increments  AG says if the bill was passed in 2003 much of the corr

Govt. doles out pre-Budget bonanza

Views - 1022 Friday, 18 August 2017 00:00

  ‘Relief’ measures to cost Rs. 4.4 billion per year Mangala says the package will be followed by more in the 2018 Budget  Confident of maintaining target growth rate of 4.5%-5% despite

Talks with India for Mattala JV to take off this week

Views - 1104 Thursday, 17 August 2017 00:22

Negotiations to focus on equity ratio, with SL offering India 49% share Indian proposal suggests 70:30 share, investing $ 205 million Govt. to carry out feasibility study and reassessment of property before final decisio

Today's Columnists

Bringing beedi into tax net can yield Rs. 40 b in revenue

Tuesday, 24 October 2017

Last week, the Financial Times quoted an AFP article that stated Sri Lanka will start regulating the toddy industry to boost tax revenues from the informal sector. This same principle should be applied to the beedi trade, which has also grown unabate

Grade 5 Scholarship examination and the future of the country

Tuesday, 24 October 2017

The Grade 5 scholarship examination results have been released recently. Although this is known as the “Mothers’ exam,” the mentality of the children can be well articulated when children come from the examination halls after the exams. Today w

Need for tax reforms: Government should not lose it this time but go for them early

Monday, 23 October 2017

In the first economic policy statement, Prime Minister Ranil Wickremesinghe made a number of pledges related to taxes and tax reforms. One was that the Government would review whether the tax concessions given to investors have really delivered the e

Lessons from Geneva

Saturday, 21 October 2017

‘Mission Impossible – Geneva’ is an inspiring account of developments at the Human Rights Council in Geneva when Dayan Jayatilleka was our Permanent Representative there. It is written by his wife Sanja, which provides for fascinating insights

Columnists More