CB to raise over $5b in 1Q

Views - 1806 Friday, 18 January 2019 00:00

The Central Bank is steaming ahead to raise funds for debt repayments, aiming to raise in excess of $5 billion over the next two months from a range of sources, including currency swaps from India, loans from Chinese banks, an international sovereign

Port City is here for all!

Views - 2080 Thursday, 17 January 2019 01:29

The reclamation of the 269 hectares of the Port City was officially completed yesterday, setting the stage for the next phase of seeking investment with officials, saying they would redouble efforts to restart talks stalled during the recent politica

CSE expresses optimism amidst headwinds

Views - 1059 Wednesday, 16 January 2019 00:00

Despite the challenging times ahead, the county’s capital market is optimistic that the progressive line-up measures will continue anticipating sizeable investments to take-off ground this year. Outlining the key elements of the Colombo Stock Excha

Tripartite agreements for Port City investments

Views - 1884 Tuesday, 15 January 2019 00:56

As dredging work in the Port City draws to a close the Government is now looking at drawing up tripartite agreements with possible investors to develop the new addition to the country’s landmass. The legal framework for investments, still under di

Gota says ready for presidency!

Views - 4014 Monday, 14 January 2019 00:25

Giving the clearest indication yet of his intention to run in the upcoming Presidential elections, former Defence Secretary Gotabhaya Rajapaksa has said he is ready to take up the challenge when polls are called, possibly towards the end of 2019.

Legislative lane for new Constitution faces snags

Views - 1254 Saturday, 12 January 2019 00:16

A report prepared by the Panel of Experts for the Steering Committee based on the Interim Report, six Sub Committee Reports, the Report of the ad hoc Sub Committee assigned to look into the relationship between the Parliament and the Provincial Counc

Economy will be put on track: PM

Views - 894 Friday, 11 January 2019 00:00

Prime Minister Ranil Wickremesinghe yesterday assured that his Government will work to stabilise the rupee, attract investment, repay debt, and work to put the economy on a growth trajectory, despite the economic impact felt during the political turm

Central Bank shores up reserves

Views - 1128 Thursday, 10 January 2019 02:10

Secures $400m from RBI under its SAARC SWAP facility Says assistance will boost investor confidence, in negotiations for further $1 b Revives action to issue sovereign bond, obtain term loans and discuss credit lines in 1Q Monetary Authority ready to

GDP calculation needs support

Views - 847 Wednesday, 9 January 2019 00:00

In order to comprehensively capture economic activity in Sri Lanka, more effective and efficient systems need to be established to calculate Gross Domestic Product (GDP) growth with greater precision, experts said yesterday. Economist and former Cen

Cabinet approves Appropriation Bill

Views - 1222 Tuesday, 8 January 2019 00:14

Cabinet yesterday approved the Appropriation Bill for 2019 that was presented by Finance Minister Mangala Samaraweera that allocates Rs.2.2 trillion for debt payments, which is the highest the Sri Lankan government has ever had to pay. Accordingly, t

SLPA tariff revision in New Year rattles exporters, importers

Views - 1594 Monday, 7 January 2019 02:57

The Sri Lanka Ports Authority (SLPA) has landed an upward tariff revision on 1 January, increasing cost for exporters and importers allegedly without notifying the trade or the new Minister. Industry sources said the Port’s wharfage tariff for expo

$ 1.8 b LTR back on track

Views - 3160 Saturday, 5 January 2019 00:01

The delayed $ 1.85 billion loan from the Japan International Cooperation Agency (JICA) to fund Colombo’s Light Rail Transit (LRT) system is back on track with disbursements expected to begin soon, the Finance Ministry said yesterday. Cabinet app

Merchandise and service exports up 15% to $ 17 b in 2018

Views - 1057 Friday, 4 January 2019 00:00

Sri Lanka’s merchandise and service exports in 2018 are estimated to have hit an all-time high of $ 17 billion, up 15% from a year earlier prompting the Government to be confident of achieving the $20 billion milestone this year. The Export Develop

Holding operation in 2019: CB Chief

Views - 1840 Thursday, 3 January 2019 02:22

Picking up the threads in the New Year, the Central Bank yesterday announced plans to resume raising funds to repay $2.9 billion debt, oversee a pressured exchange rate, and build reserves to maintain stable macroeconomic fundamentals, but called for

Aloysius and Palisena given bail

Views - 1174 Wednesday, 2 January 2019 00:00

Perpetual Treasuries Ltd. (PTL) owner Arjun Aloysius and CEO Kasun Palisena were released on bail yesterday after being remanded for over ten months for being linked to the Central Bank bond scam. They were ordered to

Plantations ring in New Year with ray of hope

Views - 548 Tuesday, 1 January 2019 00:09

The dawn of the New Year brings hopes of an end to the protracted wage stand-off in the plantation sector, with estate trade unions indicating that they are willing to consider alternative options put forward by the Regional Planation Companies (RPCs

CoE unimpressed by Singapore FTA

Views - 2057 Monday, 31 December 2018 01:39

Free Trade Agreements (FTAs) are “of no use” unless backed by a slew of reforms to make Sri Lanka’s economy more competitive, a highly-critical report from the Committee of Experts (CoE) appointed by President Maithripala Sirisena to evaluate t

CB keeps policy rates unchanged

Views - 339 Saturday, 29 December 2018 00:10

Despite low growth and moderate inflation, the Central Bank yesterday decided to keep policy rates unchanged due to an increase in private sector credit and pressure on reserves. The Monetary Board of the Central Bank of Sri Lanka, at its meeting hel

Govt. to start talks on putting IMF program back on track

Views - 1004 Friday, 28 December 2018 00:00

The Government will kick-start discussions next week with several organisations, including the International Monetary Fund (IMF) and the Millennium Challenge Corporation (MCC), to put back on track key programs that were disrupted by recent political

New Cabinet puts people-centric development first

Views - 1155 Thursday, 27 December 2018 01:47

Economic Reforms and Public Distribution Minister Harsha says Govt. to refocus its economic policies on people’s necessities Admits people’s issues were unaddressed, plans to chart economic model considering social reflections and opinions Keen o

Fin. Min. directed to fund flood relief: PM

Views - 769 Tuesday, 25 December 2018 00:00

Prime Minister Ranil Wickremesinghe yesterday directed the Finance Ministry to release funds to provide relief to thousands of people faced with floods in the north and central provinces, the Prime Minister’s office said in a statement.

Exports static, imports soar in Oct.

Views - 711 Monday, 24 December 2018 01:08

The country’s external sector came under severe pressure in October as exports struggled and imports jumped, widening the trade deficit further. The higher growth in imports was despite measures by the Central Bank in September and October to curt

VoA puts public finance on track

Views - 410 Saturday, 22 December 2018 00:10

The Vote on Account (VOA) seeking House approval to spend Rs. 1,765 billion during the first four months of 2019 to settle the Government’s capital and recurrent expenses along with debt servicing was p

VoA in Parliament today

Views - 828 Friday, 21 December 2018 00:00

A Vote on Account (VoA) will be presented to Parliament today to regulate government expenditure for four months and will be followed by a Budget for 2019 in January, Finance Minister Mangala Samaraweera said yesterday, outlining plans to include mor

Temporary Cabinet to be sworn in today

Views - 5944 Thursday, 20 December 2018 01:39

The much-awaited Cabinet is to be sworn in this morning with some major changes, following which it will meet to chart the way forward. It is speculated that today’s Cabinet will be temporary, and a proper composition is likely after the Vote on A

GDP growth slumps to 2.9% in 3Q

Views - 839 Wednesday, 19 December 2018 00:00

The country’s economic growth in the third quarter had slumped to a historic low of 2.9% in the third quarter in comparison to 3.2% a year earlier reaffirming the continuous struggle. The 3Q growth was lower in comparison to 3.7% achieved in the 2Q

Resurgent Ranil revs up rallying call

Views - 2094 Tuesday, 18 December 2018 00:10

Prime Minister Ranil Wickremesinghe yesterday led from the front by calling on the public to give a two-thirds majority to a coalition led by the United National Party (UNP) at the next general election to abolish the Executive Presidency and outline

President rightfully restores Ranil as PM

Views - 1302 Monday, 17 December 2018 03:12

By Chathuri Dissanayake Ranil Wickremesinghe was sworn in as Prime Minister before President Maithripala Sirisena, bringing an end to a seven-week-long stand-off with the President, in what signalled an uneasy truce between the two sides. Wickremesin

Mahinda’s cameo ends

Views - 5120 Saturday, 15 December 2018 01:03

President Maithripala Sirisena-appointed Prime Minister Mahinda Rajapaksa yesterday decided to quit, ending seven weeks of political turmoil in the country, as ousted Premier Ranil Wickremesinghe readies to retake oaths tomorrow.

Judicious justice!

Views - 1828 Friday, 14 December 2018 00:00

In a landmark judgement, a seven-judge Bench of the Supreme Court yesterday unanimously ruled that the Gazette dissolving Parliament, issued by President Maithripala Sirisena on 9 November, was unconstitutional, and Parliament cannot be dissolved unt

Today's Columnists

The chainsaw massacre and other ‘lawful’ horror stories

Friday, 22 February 2019

Admit it. The headline hooked you. Hope you won’t be disappointed. There are no gory scenes featuring dismembered limbs here. However you might read about the long arm of the law being truncated. Perhaps a chilling scene where the mask of the murde

What went wrong with Sri Lanka?

Friday, 22 February 2019

If Sri Lanka wants to get out of the present miserable situation, it needs to make a profound change, a paradigm shift in the way it views at everything including the religious, political and economic issues. Such a change could be made only by loo

Regulating foreign workers now a top priority

Friday, 22 February 2019

Sri Lanka is today facing a domestic labour shortage in some key sectors and industries. While demographic, social attitudes, expansion of the economy and outward labour emigration are contributing to the shortfall. Generally a lack of interest in ce

Using the RTI regime as a catalyst for development

Friday, 22 February 2019

President Barack Obama stated the following in issuing a memorandum on the Freedom of Information Act on his first day in Office in 2009. “The presumption of disclosure also means agencies should take affirmative steps to make information public. A

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