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Performance-Based Budgeting system for 2019

Views - 1480 Thursday, 12 July 2018 01:04

The Cabinet this week gave approval to prepare the 2019 National Budget under the medium term fiscal frame work (MTFF) by adopting a Performance-Based Budgeting (PBB) approach, with aims of increasing the Government revenue to 17% of GDP by 2021, Cab


CIFC laws before Cabinet in two months: PM

Views - 969 Wednesday, 11 July 2018 00:00

The Colombo International Financial City (CIFC) project is expected to take a step forward in the next two months when


Govt. gets aggressive on ports as pivot

Views - 1524 Tuesday, 10 July 2018 00:32

By Nisthar Cassim Hot on the heels of concluding the landmark revamp of Hambantota Port, the Government is unleashing a slew of initiatives to develop the rest of the Ports in the country as a pivot to strengthen the island’s hub status and boost t


CB downgrades 2018 growth rate

Views - 1194 Monday, 9 July 2018 00:27

Moderate first quarter performance has prompted the Central Bank to revise down the growth target for 2018 to 4%-4.5% from an initial forecast of 4.5%-5% with its Chief Dr. Indrajit Coomaraswamy cautioning against reducing interest rates to spur grow


CB holds rates steady

Views - 504 Saturday, 7 July 2018 01:51

The Central Bank yesterday decided to keep policy rates steady on low inflation and moderate first quarter growth numbers, but said it would remain vigilant of global market developments and possible spillover effects, while continuing to closely mon


SOE heads told to shape up

Views - 743 Friday, 6 July 2018 00:00

State-Owned Enterprises (SOEs) must mend their loss-making ways by improving governance to meet the growth demands


Govt. won’t delay PC polls: PM

Views - 471 Thursday, 5 July 2018 00:39

By Skandha Gunasekara The Government had no interest in delaying Provincial Council Elections, Prime Minister Ranil Wickremesinghe told Parliament yesterday. The Prime Minister made this statement in response to a question posed by Joint Opposition M


SL to grow 4.8%: UNESCAP

Views - 805 Wednesday, 4 July 2018 00:00

Sri Lanka is expected to grow at 4.8% in 2018, the United Nations Economic and Social Commission for Asia and the Pacific


CIABOC calls on biz to fight bribery

Views - 547 Tuesday, 3 July 2018 00:07

By Uditha Jayasinghe If the private sector is serious about stamping out bribery, it must step up and cooperate with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), its top official said yesterday, calling on companies to


Clarion call for tax holidays for new investments

Views - 1393 Monday, 2 July 2018 00:39

Lobbying by the private sector for the Government to reintroduce straightforward tax holidays as a key impetus to kick-start much-needed investments both foreign and local is gathering momentum ahead of preparation for the 2019 Budget with many viewi


Trade deficit widens in April as exports stay flat: CB

Views - 442 Saturday, 30 June 2018 00:50

Sri Lanka’s trade deficit widened in April on a sharp increase of imports, driven largely on increases in vehicle imports and unchanged export revenue but reserves hit a historic high of $ 9.9 billion, the Central Bank said in its latest External P


SL stable but reforms crucial: WB

Views - 842 Friday, 29 June 2018 00:33

Sri Lanka’s economic outlook remains stable with 4.3% growth expected in the medium term, the World Bank said yesterday, but warned that this would only be possible if the Government remains committed to its reform


Govt. to release Rs. 10 b development finance: PM

Views - 1021 Thursday, 28 June 2018 00:00

The Government plans to release Rs. 10 billion in development finance to the private sector, particularly targeted at large-scale companies willing to expand their businesses overseas and improve competitiveness, an upbeat Prime Minister Ranil Wickre


AIIB assistance for slew of projects

Views - 373 Wednesday, 27 June 2018 00:20

The Sri Lankan Government has sought financial assistance from the China-backed Asian Infrastructure Investment Bank (AIIB) for disaster mitigation, waste management and the construction of low-income households for 50,000 families, the Finance Minis


SL must synergise for growth: CB Chief

Views - 861 Tuesday, 26 June 2018 01:24

The Government must synergise macroeconomic stabilisation with its thus far sluggish structural reforms to foster growth, the Central Bank Governor said yesterday, warning Sri Lanka faces deep challenges if it triggers a future Balance of Payments cr


Importers appeal for swifter Customs law

Views - 434 Monday, 25 June 2018 00:00

Fast-tracking new Customs legislation, greater stakeholder engagement and speedier implementation of Government policy is imperative for Sri Lanka’s economy to adapt to an increasingly challenging environment, a top official said recently.


‘Enterprise Sri Lanka’ for new growth era

Views - 1593 Saturday, 23 June 2018 00:10

President Maithripala Sirisena yesterday called on State banks to focus on providing affordable financing to entrepreneurs, pointing out that generating colossal profits alone was insufficient to promote the welfare of the country.


H’tota Port rides high on investment tides

Views - 1333 Friday, 22 June 2018 00:00

As China Merchant Port Holdings Ltd. (CM Port) completes the final tranche of payment for the Hambantota


IMF backs exchange rate float

Views - 1172 Thursday, 21 June 2018 00:00

The International Monetary Fund (IMF) yesterday backed a floating exchange rate, terming it as the “first line of defence” to protect Sri Lanka against external shocks, and called for enhanced implementation of structural reforms to speed up slug


Mangala revises health sector tax

Views - 952 Wednesday, 20 June 2018 00:00

Finance Minister Mangala Samaraweera yesterday announced broad revisions of health sector taxes including the removal of 15%


SL grows by 3.2% in 1Q

Views - 769 Tuesday, 19 June 2018 00:00

Sri Lanka grew by 3.2% year on year in the first quarter of 2018, slowing marginally from 3.5% expansion seen in the fourth quarter of 2017, the Census and Statistics Department said yesterday. The Gross Domestic Product (GDP) calculation, which use


Procurement guidelines target transparency

Views - 876 Monday, 18 June 2018 00:00

In an effort to bring unprecedented transparency and accountability to the Government procurement system, the National Procurement Commission is pushing to have the newly gazetted guidelines before Parliament by August.


President tells NEC to protect local biz

Views - 1051 Friday, 15 June 2018 00:25

Responding to concerns from local companies President Maithripala Sirisena has instructed the National Economic Council (NEC) to protect local industrialists when making Government policy decisions including tax changes, access to credit facilities a


Government to check cost overruns in mega projects

Views - 745 Thursday, 14 June 2018 00:03

The Government has decided to set up a special Cost Estimate Review Committee, in a bid to avoid cost overruns and discrepancies in Total Cost Estimates (TCE) and actual cost in infrastructure projects. The Committee is expected to review TCE and co


SL- Finland sign 5 MoUs

Views - 554 Wednesday, 13 June 2018 09:10

Five Memorandums of Understanding (MoUs) on education, digitisation, health and energy were signed yesterday between the Sri Lankan Government and its Finnish counterpart as well as the private sectors of the two countries. Economic Affairs and De


SL must join ASEAN party: Malik

Views - 690 Tuesday, 12 June 2018 00:52

By Uditha Jayasinghe Sri Lanka’s private sector should move swiftly to tap ASEAN investment and export opportunities, International Trade and Development Strategies Minister Malik Samarawickrama said yesterday, calling on companies to move out o


Finnish fillip for Sri Lanka

Views - 432 Monday, 11 June 2018 00:25

Sri Lanka-Finland ties will get a big boost this week with a top delegation from Helsinki in town committed to extending


CMPort remits $ 585 m new cash despite Hambantota undercurrents

Views - 1537 Saturday, 9 June 2018 00:10

The money for the latest tranche of lease payment for the Hambantota Port from the China Merchants Port Holdings Company (CMPort) reached the Sri Lankan banking system this week even though the Public Private Partnership (PPP) initiative is facing so


New regulations for microfinance: Mangala

Views - 1466 Friday, 8 June 2018 00:00

The Government has decided to absorb the interest of microfinance loans less than Rs. 150, 000 extended by errant microfinance companies


National Evaluation Policy to modernise State planning

Views - 863 Thursday, 7 June 2018 00:00

By Ashwin Hemmathagama - Our Lobby Correspondent The Government is to introduce a National Evaluation Policy in July to improve independent monitoring of policy implementation and set standards for project assessment at State level, Prime Minister Ra


Today's Columnists

Warriors who fight for a larger purpose

Friday, 17 August 2018

Are women more naturally inclined to cooperation than men? Sulochana Sigera’s impassioned statement at last week’s Women in Management Awards seemed to suggest so. Addressing the under-representation of women decision-makers, Sigera pointed to th


Do we sink or swim? No Michael, row the boat ashore!

Friday, 17 August 2018

Why Sri Lanka needs to strengthen geopolitical ties to be a competitive global economy by 2030


Sri Lankan people want leaders to be decisive

Friday, 17 August 2018

The different leaders we have seen in Sri Lanka in the last 40 years beginning with JRJ to the current President were very different in their approach to power and authority, based on their cultural values and understandings of the leadership style.


The strategic role of the finance function: The path to relevance

Thursday, 16 August 2018

During my term as Global President of CIMA nearly a decade ago, the theme I chose for my year of leadership was a single word – ‘relevance’. The word relevance is perpetual. It is contextual to when it is used. It is extremely applicable to the


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